We continue to invest in our Partners’ success — and see great results!
Traditionally, many payment processors have made an Agent Program part of their business strategies. A Sales Partner channel of qualified Agents will expand a payment technology company’s reach, putting feet on the street, increasing the potential to sell payment solutions and services in new regions, and raising awareness of the company’s brand.
Partners who commit to an Agent Program are often highly motivated to sell the payment company’s solutions and merchant services, incentivized by the passive residual income they receive from payment processing. Additionally, some Sales Partners sell payment processing along with point of sale (POS) hardware, software, and complementary products to create a total solution for merchants. Successful partnerships result in increased revenues for both payment processors and their Agents.
So, why are some payment processors changing their strategies?
Some payment processors have decided that Agent Programs are no longer the most beneficial to them. In many cases, this decision is purely financial. These companies believe that if they bring their sales in-house, they’ll fatten their bottom lines.
Granted, a channel of Sales Partners requires an investment. It takes time and resources to train and enable Agents, and the program needs dedicated staff to manage Partners and provide support. Additionally, Agents receive a percentage of payment processing fees, along with activation bonuses and incentives. Some short-sighted payment technology companies decided this wasn’t an investment worth making any longer.
Unfortunately, the transition from selling through a channel to discontinuing Agent Programs rarely gives Sales Partners a chance to maintain the revenue stream they’ve built. The payment processor is buying portfolios and making it impossible for Agents to move their merchants after shutting down the program.
Work with a payments company that values you — and your clients.
Although changing course and sunsetting Agent Programs may be occurring in some parts of the industry, North American Bancard continues to see the value in its Sales Partner channel. In fact, while other payment processors are decreasing their investment in the channel, we are increasing ours.
In addition to our Peak Bonus Program, which includes $600 Activation Bonuses and 14x Profitability Multipliers, we provide Sales Partners with an industry-leading Partner Portal that supports residual reporting, online merchant enrollment and account info, marketing materials, and more.
North American Bancard also actively builds relationships with Sales Partners, inviting them to in-person and digital roadshows, offering product and sales training, and giving them access to an entire team of support professionals. We also help Agents boost revenues with periodic promotions and sales support.
Why we will continue to work with Agents.
From our perspective, Sales Partners are the best way to communicate our value and provide service to end users. You know your clients and their needs much better than a sales rep on the phone or a random technician dispatched to deploy a solution. You can advise end users on the best technologies for them while providing ongoing service so they’ll receive the maximum value.
Additionally, as consumer demands and the market change, you can take the role of trusted advisor and help your merchants make the best decisions about upgrading their technology.
We value your commitment to your business, your expertise, and your professionalism, and we know you are the best way to take our solutions to market. We know that our ongoing investment in our Agent channel and our partnership with you is well worth making.
