North American Bancard, LLC (NAB) is an innovative payment technology company that is dedicated tohelping merchants grow their businesses. With the latest release of their proprietary payments app, NAB’s full line-up of Pay anywhere Smart Solutions, it takes just two seconds on average from the time the card is inserted until approval. NAB has also upped the gamein their industry with the leading merchant services reseller program.
What is merchant services reseller program?
Can Reselling merchant accounts be a tricky business? The answer is yes! But, if someone is focusing on e-commerce then it can be simplified. When you are a reseller, you get a “buy rate” which you can mark up to whatever rate you want to sell your services for. In other words, it’s simply your cost. If you can get a few merchants under your belt you may get a nice recurring revenue stream. But if you wish to make more money you need to make some more effort.
Perks of becoming a merchant services reseller
Becoming a merchant account reseller is potentially an amazing, extremely lucrative opportunity for any seasoned professional, entrepreneur, or someone experienced in the online credit card processing industry. Fortunately, there are third-party services that will provide support and training as your team learns and gets accustomed to the new system and process. Typically, processors offer a large percentage based residual to all of their resellers and are open to working with anyone who can demonstrate amazing business to business skills, and a strong grasp on the merchant account industry.
If you decide to become a reseller, seek out processors who put everything you need to sell right at your fingertips. Look for multiple selling points to sell potential clients such as 24/7 customer support programs for the merchants or even ACH processing and e-wallet services.
Why should you become a merchant account reseller?
Simply put, you can make a lot of money. Typically, residuals are paid to resellers based upon how much each of the client processes. These residuals are paid monthly and as long as the merchant you signed up is processing, then you will always receive your pay-out. Try to stay away from processors who want to cap your residuals or refuse to offer a residual program.
How you get paid?
Your goal will be to find merchants who require credit card processing. You will have interaction with each of the merchants and will be negotiating buy rates with them. When you speak to the processors, try to negotiate low buy rates for each of the specific industries such as low/high risk, adult, and pharmacy. For any percentage that you sell above these buy rates, you will earn around 50% of the revenue processed! For example, if the buy rate is 3%, and you sell the account as 5%, you with make 1% of all volume processed for that merchant, forever!
Conclusion
In this scenario, if the merchant processes $100,000 a month, then you will receive $1000 per month just for negotiating the terms with this account. Most payment processors seek out merchant account resellers who can demonstrate amazing business to business skills, and a strong grasp on the merchant account industry.
