Why should you not buy merchant account leads?


Every merchant account reseller wants to make maximum profit by selling a maximum number of accounts. No matter if you are reselling a dedicated account or aggregated account you need leads. This is pretty much fare but one must follow the best practices in the industry which are safe and secure. We are in the business of reselling us high risk payment gateways. As per our experience we do not recommend buying leads from different leads providers. We avoid to buy merchant account leads because of multiple reasons. Here we are mentioning few of them.

Lead Acquisition Strategy Or Lead Source

When you buy leads from different leads vendors you are not sure how these leads are being acquired. What if the vendor is making unwanted phone calls to people. What if they are sending unwanted emails to Merchant. In both the scenario it can attract a serious penalty to the lead vendor and the purchaser.

Quality Of Lead

Lead vendors try to maximize the profit by selling the same lead to multiple merchant account resellers. This eventually results in the degradation of the lead quality. There is no guarantee that the lead which is coming to you is fresh and the merchant still needs a payment processing solutions.

Telemarketing Compliance Or Email Compliance

I am sure, most of the people in this industry know that you must have a prior authorization of the individual before contacting them. Nobody prefers unwanted emails or unwanted phone calls. In case, if you have purchased some leads and your team members start calling those number there may be a possibility that the customer may ask you that where did you get the number from. In that case, you are risking your reputation and potentially attracting legal implications.

Now that we have discussed the disadvantages of buying merchant account leads. let’s go ahead and discuss the best ways to generate leads for your business.

Create Massive Content For The Industry And The services.

As a merchant account reseller, you know that you can make a hell lot of money by selling the service. You can maximise your profit by attracting a lot of unique visitors to your website. The best way to attract traffic to your website is by creating attractive and valuable content for merchants. Try to create a regular blog post on your website. You know that there are merchants in almost every nation and there are acquirers in almost every nation. Try to create content for each industry and each nation. Who knows your next lead may be from Luxembourg, Belgium, Brunei or India.

Create Videos That Attract Merchants

Every merchant faces challenges in running the business. Some of these challenges may be common to merchants from different industries. Try to create videos that can help merchants to overcome these common problems. Since these problems are common to multiple Industries, You Can attract a huge number of traffic on your video sites or YouTube page.

Spread The Word On Social Media

Social media is becoming stronger every day. Try to spread your content that includes web pages, blog post, and videos on different social media website like Facebook, Twitter, Google Plus, LinkedIn. The social media pages are highly interactive and millions of users are connected to them. One viral post can help you attract massive number of traffic to your website

Before ending this blog post, We would like to tell you that once a merchant directly comes to your website and fill the application form he or she is anticipating a response from you. This is a hot lead for your business. You know that the merchant requires a solution. We all know that we should strike the iron when it is hot and this is the time for you to call the merchant. Over the due course of time, if you follow the best practices to attract leads on your website you will certainly see a massive growth for your company and as a business owner, you will certainly create a great reputation for yourself.

Word of caution for people in the payment processing industry. The payment processing industry is lucrative and sometimes you may get options that may not be ethical. We suggest you follow the ethical practices of business and refrain yourself from helping merchants from prohibited categories. The underwriting team at the processor location will certainly reject any leads that are not legit. Its good to pre-analyse the lead quality before sending it to the processing company.

Additional Tip:-

It is a great idea to maximise your portfolio. Why only resell one product. Offer multiple products to your customers. This may include merchant account, Payment Gateway, Chargeback alerts, Merchant cash advance,and prepaid cards.If possible assist merchants to set up recurring ach payment processing as well. Merchants from various high risk industries require recurring payments but most card processors say no.

This will help you to expand your target segment and you will also make good commissions.

When you talk to a merchant always try to identify the major pain points of the merchant. This will help you to understand his needs better and will also help you to close more sales.

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