Careers in remote-work-friendly roles across various industries are a hot commodity right now, but luckily they are also the ideal way to break into credit card processing as a field.
If you’ve been thinking about a change and you want to break into an exciting financial career that allows you to set your own terms and pursue your own goals, you need to look into lead generation and POS reseller programs for credit card processors. Both options provide you with income and resources to learn more about the industry while you establish a list of customers and cultivate your own business network.
Working as a Referral Lead Generator
The simplest way to break into the field is by generating referrals for reseller programs. Professionals who focus on lead generation through referrals do the footwork to figure out who is interested in new credit card processing, merchant accounts, or POS equipment upgrades like the new Clover Station 2.0. They don’t need to close, they just need to make contact with prospective customers.
Marketing the equipment and service with online ads and forms for data capture is one popular way, but the most successful lead generators use multiple tactics.
As a career in credit card processing, it’s a pretty straightforward program that has a lot of income potential. It also has a couple limitations that are important to keep in mind. The payment for referrals is one-time and it’s also a flat fee. Sometimes the fee only pays if the customer signs a deal, but when that is the case, the fees are also often larger than in programs that reward you for every referral. That means you need to be able to produce leads in volume, regardless of how large their eventual purchases wind up being. It’s the only way to build income as a referral generator. On the other hand, you’re done once you hand things off, where sales professionals have to stay engaged, nurturing an ongoing relationship to keep clients.
Upgrading To a Career as a Reseller
Often, working in referrals is a way to break into the industry and to make sure it’s a good fit. Many people who start with referrals go on to add a role as a POS reseller. Under some programs you can do both, under others you have to change from one role to the other, although you are always encouraged to build your own leads and increase your sales independently.
Resellers have a more labor intensive role, but they also have a few additional opportunities for income, including long-term residual payments for service agreements. They have to close customers and submit orders, but the credit card processor ships the equipment and initiates the service, so ongoing customer service on the part of the reseller is all about future sales. This is especially true when it comes to clients who are likely to open another location and need expanded services.
Rewards From Large Sales
The commission structure for resellers rewards you for pursuing and landing sales with customers who have a large volume of transactions each month because service agreement residuals are often scaled to the customer’s sales volume. Even when that’s not the case, connecting to customers who need higher tier service plans and more POS machines means making larger sales.
The bigger the fish you land, the bigger the meal, and there’s no limit to the possibilities.