Is it realistic to start as a merchant services rep without any money?

Yes, you can do that.

We started in 2016 by simply creating a website and have been able to sustain ourselves. This does not mean that only getting started will help you generate revenue as a merchant service representative. There are various factors involved which will eventually help you to grow.

Let’s look at these factors one by one.


The most crucial element is qualification. As a merchant service representative, you need to understand the customer’s requirements and have the capability to deliver as per his expectation. Here qualification means your industry know-how and ability to work in the industry. One must keep in mind that it is not easy to survive here as there are thousands of payment service providers across the globe and probably 10 to 20 times ISOs and Agents like you. As per our understanding, the only qualifications needed to start as a merchant service representative are your willpower and a positive attitude towards the industry.


If you don’t have money, you probably will not start as a payment service provider or ISO, as this requires an initial investment. However, you can still begin as an agent connecting merchants with payment service providers. This is a beautiful position to start with. You will need to sign agent agreements with various providers. You should have a complete product portfolio. This means.

If a customer needs an online payment gateway, you should have it.
If the customer needs retail Credit Card processing, you should have it.
If a customer needs chargeback protection services, you should have them.
If a customer needs business funding, you should have it.

By establishing a relationship with various providers, you will have all these products. If you make sales, you probably will make commissions on each transaction or account, depending on your agreement with the PSP.

Plan of action. Door to Door/Web/Online

Once you have established relationships with various payment service providers and lending organisations, it’s now time for you to implement the plan of action.

You can either start visiting stores near you, or you can begin to grab leads over the internet. If you have a team, then you can do both. When you approach business owners, try to identify their monthly processing volume and how much they spend on their processing fees. if your product has got the capability of offering better functionality at a cheaper rate, then there is a high possibility that you will be able to convert these customers to your processing channel

Help of Seniors

You will sometimes find yourself in a difficult position when bombarded with critical questions from business owners. This is when you should contact your top company, the ISO or the PSP, for assistance. Often, your manager may join over the call and engage with the business owner. As per my experience, this strategy always helps.


Once you get the signed agreement from the business owner, you need to ensure that the account is set up correctly and the merchant starts using the product. There is no benefit of establishing accounts and merchants, not processing transactions. Even when the merchant starts processing the transaction, ensure that you maintain a professional relationship with the merchant. In future, if the merchant faces any challenges, he will contact you directly. This will also help you to retain that account for a longer time.

Do it again?

The challenge of working in the Merchant service industry is after closing one sale, we have to complete another. The beauty of the industry is that your revenue keeps growing as the pyramid of growth in the Merchant service industry is upside down. Stay focused and keep converting customers into revenue.

Related Questions

Hоw tо Calculate A Chargeback Ratio?

A business’s chargeback ratio is the total number of chargebacks per month divided by the total number of transactions. The dollar amount of the chargeback