eCommerce Tycoon

**CreditCardGuy** · 04-05-2009, 02:57 PM

I want to start this post by saying that THIS IS NOT SPAM.

The intention of this post is to educate web developers, payment gateway integrators and business owners about referral income that they may not know is available.

Credit Card Processing
Offers the ability to approve credit card transactions and deposit money into your account. Consider this the service.

Payment Gateways
A gateway offers the vehicle to communicate the transaction data to the credit card processing company. Consider this the product.

The opportunity
It may appear that these two fields seem to come together hand-in-hand, when in fact, they are two very different industries. Think of it like cell phone service. The phone manufacturers sometimes prefer one service over another but in the end the choice is in the hands of the customer.

I'm not sure if a developer makes any form of referral commission for integrating any one gateway over another but consider this:

Many credit card processing companies (including my own) offer commissions per signed account. If you manage to refer several accounts per month you can even be set up as a "strategic partner" where you receive a percentage of monthly revenue from the account.

So think about your standard e-commerce project. You set up the shopping cart and content. You ask your client which gateway they want to use and refer them to an agent. They then have a choice of processors to connect to their gateway. The smart agents already have relationships established with processors so they can receive referral commissions.

Why not you?
By establishing a relationship with an experienced agent of credit card payment processing you can add value to yourself as a business resource and gain an extra source of income to your business.

The process is incredibly simple:

At the beginning of your project you ask your client, "do you plan on accepting credit cards?"
If they are, explain: "I know someone who is very experienced with e-commerce payment processing. He can help answer your questions and set up an account. May I have him contact you?"
Your job is done! If there is a fit for business and the processor opens an account you can receive up to $100 referral commission.

Do your research!
Make sure the agent you are working with knows what they are talking about and will be around in 6 months. Attrition in my industry is crazy and there are a lot of noobs so make sure you do your due diligence.

I hope this helps open some eyes to this very real and very profitable opportunity.

**LaneHost** · 04-05-2009, 08:40 PM

Nice information, I'm sure it will be helpful for others.

**WestSideWill** · 04-07-2009, 04:21 PM

Quote:

Originally Posted by CreditCardGuy

I want to start this post by saying that THIS IS NOT SPAM.

The intention of this post is to educate web developers, payment gateway integrators and business owners about referral income that they may not know is available.

Credit Card Processing
Offers the ability to approve credit card transactions and deposit money into your account. Consider this the service.

Payment Gateways
A gateway offers the vehicle to communicate the transaction data to the credit card processing company. Consider this the product.

The opportunity
It may appear that these two fields seem to come together hand-in-hand, when in fact, they are two very different industries. Think of it like cell phone service. The phone manufacturers sometimes prefer one service over another but in the end the choice is in the hands of the customer.

I'm not sure if a developer makes any form of referral commission for integrating any one gateway over another but consider this:

Many credit card processing companies (including my own) offer commissions per signed account. If you manage to refer several accounts per month you can even be set up as a "strategic partner" where you receive a percentage of monthly revenue from the account.

So think about your standard e-commerce project. You set up the shopping cart and content. You ask your client which gateway they want to use and refer them to an agent. They then have a choice of processors to connect to their gateway. The smart agents already have relationships established with processors so they can receive referral commissions.

Why not you?
By establishing a relationship with an experienced agent of credit card payment processing you can add value to yourself as a business resource and gain an extra source of income to your business.

The process is incredibly simple:

At the beginning of your project you ask your client, "do you plan on accepting credit cards?"
If they are, explain: "I know someone who is very experienced with e-commerce payment processing. He can help answer your questions and set up an account. May I have him contact you?"
Your job is done! If there is a fit for business and the processor opens an account you can receive up to $100 referral commission.

Do your research!
Make sure the agent you are working with knows what they are talking about and will be around in 6 months. Attrition in my industry is crazy and there are a lot of noobs so make sure you do your due diligence.

I hope this helps open some eyes to this very real and very profitable opportunity.

Very Profitable is a bit of a stretch. There are a lot of people making a little money doing this.

I think the key is, like you said, to do the due diligence. The problem is there is a lot of competition for not a ton of money.

**CreditCardGuy** · 04-07-2009, 04:48 PM

Quote:

Originally Posted by WestSideWill

Very Profitable is a bit of a stretch. There are a lot of people making a little money doing this.

I think the key is, like you said, to do the due diligence. The problem is there is a lot of competition for not a ton of money.

I would say $100 for 2 minutes of work can be considered very profitable. Whether you have 10 referrals or just 1, profit is based on what you yield for the effort you put forth.

This is something to add revenue without having to change your day to day operations. Maybe you see a lot of competition for not a ton of money but attrition is so high in this industry that it really pays to know someone who actually knows what they are talking about.

I'm paying people's rent. I'm paying for their vacations.

Are you a referral partner or are you just theorizing here?