How to Get a Head Start in Merchant Services Careers

Career in Merchant Services

2020 has a really tough job market, and it doesn’t matter what industry you’re in or how much experience you have, because the economic contraction is widespread and related to events that are shutting down local economies in bursts around the country. There are a lot of opportunities for those who know where to look, though. Some industries have static demand, others have a business model that works with the stay at home orders in viral hot spots as well as it does the regular course of daily business. Online retailers, for example, are finding their demand steady as customers opt for no-contact shopping options. Some even report significant increases in business as a result of this shift. Businesses like that also need support services, and those services offer career options that are insulated from much of the turmoil in today’s economy.

Entry Level Jobs in Merchant Services

Merchant services careers are diverse, with options for professionals in sales, management and even technical support. Getting into the industry and learning the business as a player is also easier than in many other careers, because most credit card processors use a network of independent contractors to fuel their sales. These opportunities are often the stepping stone to a career with a processor in another role, but just as often they are a great side hustle when you need extra income.

For some with a real knack for connecting with customers, though, they are the career. When you become a POS reseller, you have the opportunity to build a business for yourself as the local point of contact for companies that need POS equipment and advanced training in its use for management and employees. Resellers enjoy commissions on equipment sales that encourage them to keep in contact with existing clients who may need upgrades or additional terminals to accommodate expansions, but they also enjoy residual income from the processing agreements they negotiate. For many, this is where the real money is made, but it requires a large and well-cultivated customer base, so it takes time to get there.

Those resellers also need referrals so they know who in their area might be interested in a deal on a new Clover Station. Most companies also offer referral agreements that generate income from lead submissions when those submissions produce sales. Some even offer fees for good-faith leads regardless of the outcome, and the rate reflects their additional risk in those cases. Either way, though, there are options for people looking to break into a credit card processing career with a job that will teach them the ropes.

Finding Your Referral or Reseller Program

Not all POS reseller programs are equally well-supported by their partner companies, and for new resellers the professional development resources and support are more important than the base rate earned on commissions. Those resources provide the training needed to understand the product and the needs of an average customer. Well-crafted resources also teach you how to navigate the lead resources you’re given, providing sample scripts for initial interactions and advice about how to keep track of customers for follow-up calls. Those tools allow you to build a client list and maintain it, which is the key to turning a few sales into a steady income in this industry.

Also Read: Top 10 Degrees for Aspiring Leaders

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