Thursday, September 15, 2011

Consultant vs Agent. How do we differ in the high risk processing business

When speaking to prospective clients, sometimes I am asked "are you an agent?" and the answer to the question is no, although there are some similarities, it's quite different.

Agents basically act as sales arms of ISO and/or credit card processors. Having worked at one of the largest processors I came into contact with alot of agents. The way an agent typically works is they will get an application from a prospective merchant. Then they will shop that application around to all the processors/ISO's they have relationships with, and hope to find a home. Then they are done.

What we do is very different. We work with a select few processors who we have very strong and longstanding relationships with. I prefer to work with less partners, but with those who I know can deliver. However, not everyone is strong in all areas. For example some have great solutions for dating, others for adult, or pharma....the list goes on. We know exactly who is strong where and that is where we place the business.

The biggest difference though is the extra value that we add through our consultation. We know the rules, we know what works, we know what will help with chargebacks, we know the tools and we know what works and helps other clients of ours. We share that with you. We will help with chargeback reduction, we will help with banking redundancy, website compliance and much more.

So, not only do we setup the merchant account, we also will help you manage it. I am strong believer in letting you focus on what you do best, which is grow your business. Let us manage the merchant account for you. Let us be your advocate.

We have no interest in just shopping deals around, we look to build longterm partnerships and we are constantly looking for new solutions that will help you. Whether its high or low risk, offshore or domestic - this is what we love and this is what we do.

I don't want this post in any way to be seen as negative towards agents. I have worked with many, they are sharp and know the business. Some are extremely successful and alot of ISO/processors rely on them for new sales. We just take a different approach.

One problem I do have with agents, is when too many people are in the middle. Meaning, you have an agents, who passes a deal to another agent, who then passes the deal to either another agent or the final processor/iso. You run into issues where there are too many layers, too many people involved and nothing gets done. We only work with people who are direct to bank or directly with the bank itself.

In the high risk processing business, you never know what can happen. Your account can be shut down, and if you lose your processing you are in big trouble. Could end up on the TMF list or worse, fines. Our goal is to make sure you are always running and have the best possible options at your disposal.

If you have any questions about how we can help you, please do not hesitate to contact me.

JR

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