Product: Impact Apprentice
Company: Impact PaySystem
Impact PaySystem, a payment processing company, launched Impact Apprentice, an online university for merchant level salespeople (MLSs). The program is designed to help new entrants and payments industry veterans obtain fundamental knowledge of payment processing and numerous merchant options in technologies, products and services, the company stated.
Emily Karawadra, chief operating officer at Impact PaySystem, mentioned that Impact Apprentice was exclusively designed for payment professionals. "We have a combination of learning plans, but our most popular program allows new talent to begin building their residual base within the first few hours," she said. "The program couples live coaching by one of our executive team members with our online university, Impact Apprentice."
Karawadra noted that a top complaint among MLSs is lack of available training programs. This motivated Impact PaySystem managers to create an expansive program to educate and motivate payments industry newcomers and agents who are seeking to get back into merchant services after being away from the industry.
Today's MLSs sell a range of emerging and traditional products and services, Karawadra stated. They need to understand the features and benefits of these options and how processing works, she stated, adding that the company's program is geared toward individuals who want to build their own business and agent office to later register as an ISO.
Karawadra went on to say that Impact, like many ISOs, changed its mindset from being a sales office to being a company that develops, deploys and understands technology and how it relates to merchant customers. This requires an educated sales force that understands its client requirements, she noted.
"We designed our training program to make it accessible to anyone with a device and internet," Karawadra said. "Our on-demand courses allow trainees to set their own schedules and learn when it's best for them. Courses range from historical industry lessons to the inner workings of front- and back-end processing."
In describing the program, Karawdra stated that Impact Apprentice provides individuals entering the industry with knowledge and a clear path to success. "Impact Apprentice has a unique design, and it's not a cookie cutter training program," she said. "Our staff works with each trainee to custom fit their learning path."
For example, Karawadra has found that merchant onboarding can be a frustrating process for new MLSs to learn, and new agents who try to navigate a lengthy client onboarding process can lose interest quickly. "We show them how to streamline onboarding from start to finish in seven easy steps," she said. "We try to capture the excitement by keeping the process simple as they become more educated with our courses.
Impact Apprentice courses, customized for each trainee, were created to allow users to learn and build at the same time. Some may just want to be a sales office and never register as an ISO; others may have goals of registering without a clear approach and understanding of what is involved, Karawadra said. This program is designed to address all perspectives with custom-fit programs that align with individuals' unique goals as they build their businesses, she added.
Karawadra pointed out that the company's sales partners and sub-ISOs appreciate being able to enroll their MLSs in the program. Many of our partners were spending hundreds of hours training new talent without getting a good ROI, she stated, adding that the company removed this burden with Impact Apprentice, which allows partners to recruit and build more efficiently.
"As ISOs in the industry, our biggest hurdle is training the sales agents that have no industry experience or retraining agents who started out elsewhere," Karawadra said. "Training is a game changer. We offer this training to our ISOs, sub-ISOs, agents and their sales agents to give them a fast start in business."
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