Canadian consumers have a wealth of payment options when they shop. In fact, the country has been ranked as the most cashless society in the world. And these payments add up. In 2016, consumer and business payments included 21.3 billion consumer and business transactions totaling $9.2 trillion.
For all of those transactions, someone needs to process card and digital payments. This is where independent sales organizations, or ISOs, enter the picture. As the Canadian economy continues to grow, Canadian ISOs will grow and become more critical to the entire financial infrastructure of the country.
What Do Canadian ISOs Do?
Every time someone makes a payment with a credit card, debit card, electronic check, or mobile device, a payment system has to process the payment. The financial institutions that provide payment systems do so through independent sales organizations.
Each payment collects information from the customer making the payment, communicates between the customer's and seller's financial institutions, and delivers payment from buyer to seller. All the while, it secures the information for both parties. And as part of the process, each transaction generates a small fee.
ISOs manage the process, and provide merchant services to help maintain the systems and keep payments running smoothly for their merchant customers. In turn, they collect commissions on the payment systems they sell, and earn part of the processing fees to continue generating revenue over time.
How Independent Sales Professionals Benefit
These organizations provide potentially extraordinary opportunities for independent sales professionals. Those who partner with Canadian ISOs have the opportunity to sell to virtually anyone in the country, because every business needs to process electronic payments.
A sales representative can work with business customers in any niche they like, or any geographic area. They earn a share of the commission for each system sale and recurring revenue from transaction fees for as long as the customer employs that system.
The result for sales professionals is an income limited only by their ability and drive to work and achieve. They work with sophisticated products and learn every day, in a field that will continue to grow into the foreseeable future. New technologies will keep arriving, giving opportunity to learn and to sell new kinds of products and services for as long as sales professionals wish to do so.
The Best Opportunities with Canadian ISOs
Of course, some Canadian ISOs will provide better opportunities than others. Sales professionals should look for key advantages before partnering. The best ISOs will provide sign-on bonuses to give initial cushion to their sales representatives.
They will focus on training on the product and industry, to ensure sales professionals understand what they are doing and start in position to succeed. And of course, they will provide excellent products and services for the representatives to sell, and deliver strong compensation models that reward success over time.
Experienced, excellent independent sales professionals have the ability to work in any field or industry. Canadian ISOs deliver some of the best opportunity to achieve income and professional growth. Sales professionals ready for a new challenge will find excellent potential in this industry.