WE ARE LOOKING TO BUILD A TEAM OF BOTH EXPERIENCED AND ROOKIE SALES REPS
WE ARE LOOKING TO BUILD A TEAM OF BOTH EXPERIENCED AND ROOKIE SALES REPS
Why work for Progressive Payments Advisors? Here are 10 great reasons to join our team
Your job as a Progressive Payments Advisors sales rep is to sell merchant services
Our job is to set you up for success and make it as easy as possible to sell merchant services
Apply today!
What is Merchant Services Sales?
We get this question from potential sales reps every day: What is merchant services sales and how do I make money selling credit card processing?
Whenever you use your credit card to pay a business for a product or service, that business pays a fee to take the transaction. A portion of the fee goes to the issuing bank, a portion goes to Visa, MC, Discover, or American Express, and a portion goes to what is called the service organization or ISO. Progressive Payments Advisors is an ISO and our job is to facilitate the sell of merchant accounts to businesses so they can accept card transactions. We and you make a portion of the sale whenever a card is run through one of our clients terminals or payment systems.
So, where do our salespeople come into the picture?
We grow our business through our network of independent sales reps who are building their own book of clients within our business. Whenever they set up a client to accept credit cards we share the profit with them. Their job is to go talk to clients – most of whom already accept credit cards and help them negotiate a lower price. We will put together a proposal for independent sales reps and help them close the deal. Once the merchant contract is approved and signed, the sales rep starts earning residual income every month off of the transactions that are being run through the terminal. If the sales rep sells an equipment lease or a terminal, the sales rep will earn commission on the profit off that lease or terminal. Commissions can range from a few hundred to a few thousand dollars on equipment transactions.
The beauty of what our salespeople do is that they are building their own company and earn passive lifetime residual income off of every client that they have already signed up. They sell the client once and then earn an income for as long as that client is with us! To learn more, apply today and one of our sales managers will reach out to you to discuss getting you set up as one of our newest agents!
To learn more, apply today and one of our sales managers will reach out to you to discuss getting you set up as one of our newest agents!
4 Best Practices to Succeed in Merchant Services Sales
Join the right ISO This is the single most important factor. You need to work with a company that will not only support you but will also deliver on their promises to you and your clients. Ask a lot of questions before you join an ISO. Understand their culture and how they are going to help you be successful
Learn the business Working as a merchant services sales agent is VERY competitive. You need to make sure that you have as much knowledge as possible when you hit the field. You can learn most of what you need to know through our ISO Agent Training Program or from your manager/mentor. Learn as much as you can and NEVER stop
learning. Credit card processing is highly complex and constantly changing and you need to keep up to date in order to compete. Learn and understand the basics and really understand the nuances of how it works.
Set a schedule for yourself One of the more difficult parts of working as an independent sales agent in the merchant account field is taking responsibility for your daily actions. You are your own boss and your success is 100% dictated by you. Plan ahead for success! Set daily schedules, goals and objectives, and STICK TO IT. For example: From 8-10am, cold call over the phone. From 10am to 2pm, cold call in the field and have at least one face-to-face appointment set for every day. Finish your day following up with old clients. This works for most people – but you really need to work the schedule that best fits your needs. If you do not plan your day, you may get caught up in one activity and your entire day can go to waste. Our IRIS CRM prospecting tool is excellent for tracking your progress and results.
Referrals, Referrals, Referrals This is the single most important way you can grow your business. Cold calling sucks. Period. There is no way around it. You have to do it in the beginning of your career – but you won’t have to do it forever. You need to set a pattern for how you interact and follow up with clients in order to get the most referrals you can from everyone. After your client has been with you for a full month, complete a cost comparison to show them the savings you generated. Visit your client and share the cost comparison to them and ask if they have any questions. Then ask them for SPECIFIC referrals. Who is their doctor, veterinarian, mechanic, etc. DO NOT ask who they know. Ask
them specific questions to get specific answers.
These 4 steps won’t guarantee your success in the merchant services field, but they will absolutely help you take the right steps to success.
How much money can I make as a Merchant Processing Sales Rep?
The general opinion is that selling credit card processing is lucrative. Well, that’s true, but the big question is: How much money can you actually make out of this business? And there’s no straight answer to this question because often times your income depends on how hard you work. It certainly leads to the next question; what’s the earning potential for selling credit card processing? The answer is that the leading sales reps can make well over $100k per year.
There are typically 2 primary sources of income for a Merchant Processing Sales Representative
Commissions on sale/lease of equipment. The terminal technology has changed so much in the last few years that many of the existing terminals are either obsolete or out-of date or do not have the features and capabilities of newer terminals. We would expect that a sales rep should be able to sell or lease a new terminal on 60%-80% of every new merchant they sign-up. Commissions range from a few hundred dollars to a few thousand dollars a month.
Residuals. But what are residuals? Each time a client uses their credit card terminal or POS system to accept payments through their merchant account, the processing company earns a small percentage of the sale (usually pennies). The processing company continues receiving this pre-determined amount for as long as the merchant is enjoying its credit card processing services. The sales representative who signed on the client earns 60%-90% split of this income. Meaning every time the merchant swipes a credit card, the sales rep is making money. This is known as residual income.
With hard work and consistent commitment, a 6-figure income is a very realistic opportunity.
These 4 steps won’t guarantee your success in the merchant services field, but they will absolutely help you take the right steps to success.
How much money can I make as a Merchant Processing Sales Rep?
The general opinion is that selling credit card processing is lucrative. Well, that’s true, but the big question is: How much money can you actually make out of this business? And there’s no straight answer to this question because often times your income depends on how hard you work. It certainly leads to the next question; what’s the earning potential for selling credit card processing? The answer is that the leading sales reps can make well over $100k per year.
There are two typically 2 primary sources of income for a Merchant Processing Sales Representative
With hard work and consistent commitment a 6-figure income is a very realistic opportunity.