Ecommerce verticals offer unlimited growth potential but have steep competition. Select a type of service that needs a solution different from others. Isolating an industry will help you concentrate on specific lead types and engage faster with specialized knowledge.

Your ISO partnership network should have all the capabilities your leads are seeking. From card not present (CNP) retail to online CBD sales, you’ll need the ability to compete in the diverse landscape of sales needs. Find solutions, expand your options.

An experienced team will guide you with consistent and friendly customer service. Your team should be available to you as a knowledge resource to help you answer any questions your merchant has, and guide you through the process when needed.

Expand your offerings, and build your approval network. Mainstream companies like Square and Stripe provide limited customer support, and restrict a merchant’s ability to negotiate. If you have a client with high chargebacks, distinct products, or services that are restricted by top payment providers, you’ll need to establish trusted alternatives.

High risk merchants, or businesses who provide unconventional products or services, have different account requirements. As an agent, you’ll need a solution for any type of business that comes your way. Importantly, margins and rates within high risk verticals are more substantial due to the restrictions placed on products and regulations that require monitoring.

After you’ve put in the legwork, vetting a merchant, selecting your partner, and collecting documents, you will submit your application. Be sure the partner you are choosing to submit the application to has the resources and experience to get approval. The last thing you want to happen is for a bank to reject your merchant. Make sure the industry and regulations of your broker are consistent with your client’s needs.

When you start a conversation with a new merchant, you’ll start putting together an informational application for the business. The basic information helps you qualify and categorize the type of services that a merchant requires. Afterwards, it’s time to speak with your payment partner. Process driven communication is a must. Find a team who has clear expectations on information exchange. For example, High Risk Payments Merchant Application organizes the first level of information required for processing. Beyond that, document requests from the bank or clear instructions on website adjustments need to be communicated clearly and quickly. Select a partner with processing experience and fast communication.

The best way to secure commission-based revenue is to close deals and open accounts. Merchants, brokers, and banks all want to grow their business quickly. However, some companies may have been conditioned by processors like Square or Stripe who approve instantly and reject accounts later. Although impractical for merchants in high risk verticals, this high speed luxury is often the standard they expect. Understandably, any business owner waiting to receive payments on existing sales, or whose company is in a standstill, will want to see their account up and running. Make sure your processing partner is suited to handle accounts in specific verticals, and has the relationships with banks that get approvals fast.