Don’t let misconceptions hold you back from taking steps toward more revenues.
Setting the course for a successful year sometimes feels like it requires a crystal ball. The point is, there is no sure way to know how the cards will fall this year. But what you can be sure of is that the right partner will set your business and your merchants' businesses up for increased revenues, better customer relationships, and improved client retention. By joining our merchant services ISO Program as a North American Bancard Sales Partner, you can turn uncertainty into a good outlook for the future.
Don’t let misinformation hold you back.
Potential merchant services ISO Program partners often hesitate to move forward based on myths and misinformation they’ve heard about selling payment services. These facts will clear up those misconceptions and help you confidently take the next step toward becoming an ISO Agent at NAB.
- ISOs, sales agents, and ISO agents are not all the same.
Often the terms ISO (independent sales organization) and ISO agent or sales agent get used interchangeably. However, there is a clear difference, and understanding it can help determine the model that’s right for your business.
An ISO is an intermediary between the credit card companies and banks. An ISO agent, or sales agent, on the other hand, is a third-party business that sells the services of an ISO. Why? Most ISOs often like to concentrate on processing credit cards and offering point of sale or payments solutions. That is why they will contract sales agents into their merchant services ISO program to help acquire merchants to work with.
- To become a Sales Partner, you don’t need to become a registered ISO.
Because you are an ISO agent and not an ISO, you don’t need to comply with the same requirements as an ISO. ISOs need to provide documentation such as their financial histories, a business plan, and incorporation papers. They also must pay annual fees to credit card associations.
ISO agents, on the other hand, avoid complex bureaucracy and high association fees by partnering with an ISO company.
- You don’t have to give up your brand identity to become an ISO agent.
With the right merchant services ISO Program partner, you can offer payment services through a white-label program. For example, the North American Bancard Sales Partner program offers a white-labeled payments solution that allows you to provide your users with a suite of payment processing solutions, such as EMV, NFC, ecommerce, smart payment devices, and more. NAB also minimizes your PCI scope, eliminating time-consuming compliance activities. You offer services under your own brand and have more control over your customers’ experiences.
Offer more to your merchants as an NAB Sales Partner.
If you work in markets where businesses’ digital payments or online payments are becoming more mainstream, such as municipal services, nonprofit organizations, or field services, joining our merchant services ISO Program offers your business support to design a vertical-specific solution. Our North American Bancard Sales Partners have an array of options to offer merchants including the following.
- Flat Rate Pricing: Offer your merchants a fixed percentage fee and a fixed transaction fee for each transaction, as well as interchange or interchange plus rates.
- Cash Discount: Enable your accounts to discount sales for customers who pay with cash while covering payment processing fees on card transactions.
- PayAnywhere Storefront: Give merchants the ability to pay anywhere with an all-in-one payments app coupled with the latest in cloud-based mobile POS technology.
- Total Solutions with POS Pros: Leverage POS experts to help assess a merchant’s needs and recommend the best solution. As an NAB Sales Partner, you can fit the best solution to your merchant, regardless of whether it’s one that typically is on your line card.
Nearly every market needs digital payment services today. Joining our merchant services ISO Program helps your accounts deliver the convenience that consumers expect. By partnering with NAB, you’ll be able to help your merchants capture more revenues, maintain smoother cash flow, and offer in-demand solutions and services that help businesses grow.
Moreover, you’ll give your business an edge. You can provide all of the payment services your clients need, build a healthy residual stream, and strengthen relationships with your accounts. And that adds up to a great outlook for the year.
