When a merchant signs on with an Agent, their payments are processed through whichever processor the ISO is representing, and the Agent, in turn, earns a small commission on each transaction. Those commissions are known as residuals; as a result, the commissions earned on each transaction are tiny percentages, they can add up over thousands or even millions of transactions across the lifetime of a merchant’s operations.
Becoming an Independent Sales Agent
The process of getting signed up as a merchant service sales agent is relatively simple. All you will need is 2/3 years of sales experience. Betterpay currently provides agents with the best industry splits of 70% and a $200 signing bonus per approved account. We offer sales training and tools such as the Agent Portal, where agents can manage their merchants, send e-Sign Apps, view residuals, and more.
Earnings Potential Merchant Sales Agents
The key to generating earnings of over $100,000 per year is to build up a strong residual portfolio. While agents often earn signing fees or monthly bonuses for bringing in new merchants, it’s the residuals that matter. The residual split between an ISO and agent is generally 40/60, much lower then Betterpay’s Agent Program. But if the average merchant account provides roughly $30 per month in residual income. That works out to approximately 277 total merchant signups to get to $100,000 per year. That might sound like a lot if you think of it in a single year, but it’s essential to remember residuals never stop coming in as long as a merchant sticks with their payment processor.
For more info on our Agent program and benefits visit us at https://btrpay.com/agent-iso-partner-program/