What kind of business is BankCardEmpire?
Aug 15, 2009
in
Small Business Merchant Accounts
They want me to sell Merchant accounts…
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One comment
imisidro on August 15, 2009 at 1:39 am
This is the business where you sell merchant accounts to businesses
Selling merchant services is not easy — it will work if and only if you’ve got huge connections of business owners. This is not something you can door to door (note the "no solicitation" sign in most stores).
The merchant has to know you and trust you enough to actually pull out their lifeblood — credit card processing — and give it to you. That’s a huge leap of faith for businesses because they can’t have a situation where their merchant services suddenly stop working while you are transitioning (think of a restaurant that suddenly can’t process credit cards — it’s a huge nightmare)
Learn how the fees are computed. You need to be able to read the merchant services statements and understand the fee structure — and then propose a lower free structure to get the account.
Also check if your commissions will continue month after month while your client uses your merchant services. Or your commissions will stop after you fail to reach the monthly sales quota
You will be the one servicing your customer — installing the preprogrammed credit card swiping machines. If the client has problems, they will call you — and you need to be assured that BankCardEmpire can support you when problems arise