Why Independent Sales Organizations Partner With T1
Independent Sales Organization (ISO) agent programs should help you boost your earnings. And chances are you’ve seen a lot of amazing promises: big upfront bonuses, fast residuals payments, solid support. But a few months in and you realize that the promises made aren’t an accurate reflection of reality. Instead you’re waiting for your account to be activated, waiting for payments, waiting for answers to your questions – while you’re losing opportunities.
That’s not how we do business at T1 Payments. We’re a high-risk Payment Processor, and our partner services program is centered around meeting your needs. But why should you believe us? Because your business success is our business success. It just makes sense for us to do everything we can do enable our partners to grow their profits. That means weekly payments, flexible underwriting, and next day merchant funding – along with the best commission and residual offerings in the industry – to help you get more customers, get paid faster, and take your business to the next level.
Wait, what are ISOs?
Let’s define some general terms before we move on to the details of our partner offerings.
The payment card industry defines an Independent Sales Organization (ISO) or an Member Service Provider (MSP) as any organization or individual that is not a Visa or MasterCard member bank, but does have a relationship with an Association member or members. In this case, a “relationship” means the ISO performs functions such as acquiring new customers, providing services, arranging for the lease or purchase of payment card terminals, and other tasks. Wondering what the difference is between an ISO and an MSO? They are essentially the same thing, what Visa calls an ISO MasterCard refers to as a Member Service Provider (MSP).
ISOs and MSPs are not banks, they have their own relationships with Association members such as processing banks. ISOs and MSPs, in turn, can sign up sales agents through a partnership program to help them sign new merchants. Members of partnership programs don’t have to meet the rigorous financial reviews that an ISO/MSP does, nor do the have to pay the high processing fees required to process transactions. In general, even if your goal is to become an ISO/MSP, it’s best to start out as a member of a partnership program. Choose the right partnership program and you’ll gain the experience you’ll need if and when you decide to pursue an ISO/MSP contract.
TI Payments Partnership Program
If you’ve worked with other ISO agent programs you know that it often takes weeks for signing, underwriting and boarding your account. T1 Payments can get you up and running within a few days. And that’s not all – we pay out daily too. No waiting, no complications, and no hidden fees.
We also offer our partners:
- Flat rate fees
- Chargeback prevention services
- In-house customer support
- Risk management expertise
- Anti-fraud account monitoring
- Dedicated account manager
- Regulatory compliance (PCI)
- Global payment processing
- Comprehensive online reporting
For residuals, you get 50% revenue sharing on high-risk accounts and your residuals are paid for the lifetime of the accounts.
T1 also helps you capitalize on a world full of opportunities. For example, online, offshore, and high-risk businesses are areas that can really boost your revenue now. T1 has a global payment processing platform and is a leader in the high-risk Payment Processing industry.
High-risk merchants are often unable to get approved for traditional merchant accounts or may suddenly lose their ability to accept payment cards. and get refused. ISO agents provide a valuable service by helping these merchants do business. And with T1 Payment’s expertise and fraud-prevention tools, high-risk can be transformed into high profits.
T1 Payments’ Partner Success Tips
We’ll close this post by offering you some things we’ve learned from members of our partner program.
Our most profitable partners know they are a valuable resource for high-risk merchants. They stay well-informed on all of the basic issues that challenge high-risk businesses, as well as staying up-to-date on evolving issues that may impact their accounts.
They understand how to circumvent problems that typically are associated with high-risk businesses. Chargeback protection, for example, is a must. They also offer guidance to their accounts regarding the importance of clear communication, proactive customer service, and ethical business practices in avoiding chargebacks.
Our partners run profitable businesses, so they can afford to be selective about what opportunities they accept and aren’t afraid to pass on contracts from merchants who may not be the best fit. That said, they are very comfortable and enthusiastic about working with high-risk accounts.
For more information on T1 Payments Partner Program, visit our website or call us at 866-518-2216.