3 Keys to Creating a 6-Figure Residual Income in Merchant Services Sales

What are the keys to creating a large merchant portfolio in the modern payments era?

Key #1: Sell on a benefit-driven premium hardware & software approach, not price. 

In 2021, signing new merchant deals is less about pricing and more about the hardware & software solutions that you can provide your new clients.

Customers are becoming more savvy these days, expecting a higher-end experience in every aspect of their interaction with a business. 

Your merchants know this, and they also know that their payment experience is possibly the most important & memorable part of their customer's journey with them.

One positive payment experience can create a customer for life.

This is why merchant expectations for the payment technology that you provide are higher than ever before, and signing new accounts often hinges on your ability to deliver better, newer, sleeker & more feature-rich payment hardware and software.

This is where Choice comes in.

When you partner with Choice, you have a full array of state-of-the-art payment terminals & software at your fingertips, feature-rich and ready to impress your merchants & their customers alike.

With touch-screens & a unique, cutting-edge look, Choice's custom payment technology gives your merchants the high-end, elite feel that they're looking to project.

You can feel confident in knowing that you're providing your merchants with the best technology available on the market today, which translates into an easier sales process & more new accounts for you.

That is why when you choose an ISO partner, joining an ISO that has it's own custom-created hardware & software solutions is invaluable, and it's the first key to creating a 6-figure residual income in merchant services.

Key #2: Offer Omnichannel Payments to Build Your Portfolio Fast.

Another key to creating a large residual income in payment processing that ties in with offering premium hardware & software is to ensure that your ISO offers omnichannel payment solutions.

Many merchants are attracted to offering better and more efficient payment options to their customers.

As an agent, you can create desire by having more payment options than your competitors, such as:

  • Pay by Text 

  • QR Code Pay & Menus 

  • Online Ordering 

  • Invoicing & Recurring Billing

  • Robust Business Portal

  • Mobile and Stationary POS with Item Management  

  • Open API’s for Integration (EMV & Ecommerce)

  • Cash Discount , Surcharge, Site Fee, Duel Billing 

  • Online & Ecommerce solutions

Merchants see value in accepting a wide array of payment methods. By showing them that you can offer choices that other processors can't, you can quickly close more deals to reach that 6-figure residual income goal.

Key #3: Join an ISO with a powerful CRM that has the capability to manage a large portfolio while keeping merchant servicing & retention high.

You will find that having the capability to manage a larger volume of clients while keeping them all satisfied can be a challenge, but it is crucial to keeping your referrals & retention high.  

This is why choosing an ISO that utilizes a robust CRM that contains all of the features and capabilities needed to manage & maintain a large portfolio is a must.

Even better is to partner with an ISO that has developed it's own powerful CRM specifically to help Agents/ISOs achieve automation and freedom in their business.

That's exactly what Choice has done with their Jarvis platform.

From initial key entry of merchant leads through and including the processes of merchant underwriting, acquiring processor boarding, equipment management, go-live and risk management, and subsequent reporting and revenue management, the Jarvis platform automates each and every step in the process flow.

Jarvis helps merchant acquirers/ISOs/Agents streamline processes and workflows to reduce costs and increase margins, while significantly improving merchant servicing, portfolio management and both the merchant and downline reseller partner experience.

By utilizing the improved capabilities of a powerful merchant services CRM like Choice's Jarvis platform, ISO's & Agents can not only create the large 6-figure residual income portfolio that they've always wanted, but they will also be able to manage and maintain that portfolio at a high level.

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