What is a Merchant Services Job?
Merchant services jobs are positions in the financial industry that focus on helping businesses process electronic payments. These jobs typically involve working for a company that provides merchant services, such as credit card processing, point-of-sale systems, and electronic check processing. The positions vary, from sales to customer service to technical support, and require a range of skills and experience.
What Do People in Merchant Services Jobs Usually Do?
People in merchant services jobs typically help businesses process electronic payments. This can include setting up merchant accounts, installing and maintaining equipment, troubleshooting technical issues, and providing customer support. Sales positions in merchant services involve prospecting for new business and working with existing clients to expand their payment processing capabilities. Customer service positions involve answering questions and resolving issues related to payment processing. Technical support positions involve troubleshooting technical problems and ensuring that equipment is functioning properly.
Top 5 Skills for Merchant Services Jobs
- Customer service skills: The ability to communicate effectively with clients and resolve issues is crucial in merchant services jobs.
- Technical skills: Merchant services jobs often require technical knowledge of payment processing equipment and software.
- Sales skills: Sales positions in merchant services require the ability to prospect for new business and build relationships with clients.
- Problem-solving skills: Technical support and customer service positions require the ability to troubleshoot problems and find solutions quickly.
- Organization and time management: Many merchant services jobs involve managing multiple clients and tasks, so organization and time management skills are essential.
How to Become a Merchant Services Specialist
Becoming a merchant services specialist typically requires a combination of education and experience. Many people in this field have a degree in business, finance, or a related field. However, experience in sales, customer service, or technical support can also be valuable. Some companies offer training programs for new hires, which can provide valuable knowledge and experience.
Average Salary for Merchant Services Jobs
Salaries for merchant services jobs vary depending on the position and level of experience. According to Glassdoor, the average base pay for a sales representative in merchant services is around $50,000 per year, while customer service representatives typically earn around $35,000 per year. Technical support positions can earn around $40,000 per year, while managers and directors in merchant services can earn upwards of $100,000 per year.
Roles and Types of Merchant Services Jobs
Merchant services jobs can vary widely, from sales positions to technical support to customer service. Some common roles in merchant services include:
- Sales representatives: These professionals are responsible for prospecting for new business and building relationships with clients.
- Customer service representatives: These professionals are responsible for answering questions and resolving issues related to payment processing for clients.
- Technical support representatives: These professionals troubleshoot technical problems with payment processing equipment and software.
- Managers and directors: These professionals oversee teams of sales, customer service, and technical support professionals in the merchant services industry.
Locations with the Most Popular Merchant Services Jobs in the USA
Merchant services jobs are available throughout the USA, but some cities and states have more opportunities than others. According to Indeed, some of the top cities for merchant services jobs include New York, NY, Los Angeles, CA, and Chicago, IL. Some of the top states for merchant services jobs include California, Texas, and Florida.
What are the Typical Tools for Merchant Services Jobs?
Merchant services jobs typically require the use of a range of tools, including payment processing equipment and software, customer relationship management (CRM) software, and project management tools. Sales representatives may also use prospecting tools and marketing automation software to generate leads and manage sales activity. Technical support representatives may use remote access software to troubleshoot problems with payment processing equipment and software.
In Conclusion
Merchant services jobs are an important part of the financial industry, helping businesses process electronic payments and manage their finances. These jobs vary widely, from sales positions to technical support to customer service, and require a range of skills and experience. If you're interested in pursuing a career in merchant services, consider gaining experience in sales, customer service, or technical support, and look for opportunities to learn more about payment processing equipment and software.