Is a career in Merchant processing sales a good opportunity? It really depends on the individual. You can do really well, depending on your personality and how organized you are. The number one reason why that is so appealing is how much money you could potentially make. Credit card processing sales is a great job opportunity. But that doesn’t mean everyone would be happy doing this kind of work. You have to decide if you have the personality to enjoy a sales career.
The industry still has huge potential to grow in the future. The world over the last decade has been moving towards a cashless society. As technology continues to improve, wider acceptance of electronic payments, and increasing online transaction, card payment systems will be ubiquitous and, therefore, increasing the pie for the merchant processing industry as a whole.
Each time a merchant uses their credit card to accept payment, the processing company earns a small percentage of the sale. The processing company continues receiving this pre-determined amount for as long as the merchant is utilizes with the credit card processing company. The sales representative who sign on the client earns 50% to 70% split of this income (plus sign on bonuses). Meaning every time the merchant swipes a credit card, the sales rep is making money. This is known as residual income.
Does your background include working at restaurants, doing auto repairs, or working at a beauty salon? Organize your entire operation around the industry your familiar with, and use that knowledge to your advantage. Success in landing accounts, is being able understand your prospects business and recommending solutions to help them grow.
The first impression is always important for a salesperson heading into their initial face-to-face meeting with a merchant. For some, this first interaction may create uneasiness. However, the sales professional who becomes an expert in building rapport will display confidence in themselves and their product or service and ultimately have a leg up when it comes time to ask for the sale. There are certain qualities that effective salespeople naturally possess that make the job more appealing to them. For instance, those who are outgoing and persistent tend to do well in sales because they aren’t afraid to reach out to potential customers whom they’ve never met before. They can handle with ease the rejection that often occurs in the sales industry. But just because you’re outgoing and persistent doesn’t automatically mean you’ll be a good salesperson. You’ll need some other skills too.
Sometimes it’s not the work you do that’s a problem, it’s who you work for. Sure, you need to have the drive and determination to achieve your goals, but you won’t succeed without support from the company you work with. If you find yourself dissatisfied with your current work environment or the lack of support, it may be time to seek other options.
Yes, credit-card processing is a good job because it offers great opportunities. You should give it a try. You may find out you enjoy working in the sales industry—but just be sure to weigh all your options before you sign on with one employer. Some are definitely better than others.