Regardless of whichever career you choose to follow, you will always be excited to know how much money you can earn, right? This gives you a clear idea about the prospects and opportunities that are available in the industry. If you are planning to pursue a career of selling merchant accounts, then you are in for a treat. Selling merchant services is one of the most lucrative career options that you can follow.
Even though your overall income will directly depend on how hard you are going to work, you will still want to know how much you can make in this industry. Generally, a person who is selling merchant accounts can make more than $150,000 every year. This amount can be a lot higher depending on a lot of factors. Let’s talk about this topic and how to become a credit card processor in detail in today’s blog.
Average Income of Merchant Account Sellers
In most cases we have seen that agents who are into this service can receive anywhere between $500 – $800 everytime they sign a new client to the company. This amount is received only for signing of the deal and on top of this the agent can earn a handsome bonus of more than $1250 – $1600 every month. This is a great way to earn extra money and pump more cash into your bank account in the right way. But, there are different other ways as well in which the same agents can make even more money.
The other way by which the agents can earn more money is through residuals. So what are residuals? Whenever a client uses their credit card in order to receive payments through the merchant account, the processing company receives a small percentage of the overall sale that the customer has initiated. As long as the merchant is using their credit card services, the processing company will keep receiving this amount of money. The agent who signed the client will now earn at least 60% of the total amount. That means, whenever the merchant swipes the card, you will be earning money.
Through this process of residuals, a merchant accounts agent can earn more than $150,000 in a single year. There are many agents who can have earned even more than this by finding the right clients and businesses in the market. In order to become a successful agent in selling merchant accounts, here are some tips you can follow – don’t sign clients at lower rates, never forget to take a follow up, always look for a bigger opportunity, make most of tech support, & improve your reputation whenever possible.
Final Words – is this amount lucrative enough to convince you to sell merchant accounts? Then you should start working on how to become a credit card processor. This industry is growing at a rapid pace and there is a huge potential present here. You will be selling something that is necessary for businesses and that is why it will be in demand. So, what are you thinking of? Start grinding and find out the different ways in which you can be good at it.
And, in the realm of business opportunities, don’t overlook our merchant services agent program. This program empowers individuals with the tools and knowledge to succeed in the ever-evolving world of payment processing. Join our program today and embark on a rewarding journey toward financial independence and success in the merchant services industry.