Acquiring Credential Attracts New Interest in Second Exam Round

The Electronic Transactions Association is wrapping up its second month-long test period for a credential it says improves the acquiring industry's credibility with merchants and gives participating independent sales organizations and sales agents a competitive advantage.

The Certified Payments Professional credential also sets standards for hiring, mitigates risk and promotes best practices (see story).

Some 221 candidates registered for the second group of three-hour tests, which were scheduled during May at sites throughout North America.

The association is promoting the credential to retailers through mailings and by placing ads in trade publications and on merchant-oriented websites, Rori Ferensic, the trade group's director of education and professional development, tells PaymentsSource.

Still, the association is just starting to get the word out to merchants, the "end users of our members' products and services," Ferensic says.

"We're nowhere near scratching the surface" of reaching all the "zillions" of merchants, she says.

Once merchants become familiar with the credential, they can use a registry on the association's website to find ISOs and agents who have earned the endorsement. The registry is searchable by last name and by state, Ferensic says. The site lists the 180 industry members who passed the initial test.

Some 221 took the initial exam (see story). (This is the exact same number that enrolled for the second exam — "It’s really ironic," Ferensic says.)

Meanwhile, the association expects to complete a study guide in about a month to help candidates prepare for future tests, she says.

"We're almost there," she says of the guide. "It will definitely benefit those taking the November exam."

The deadline for registering for the third round of testing falls on Oct. 1, but the association could accept some late applications, depending upon logistics, Ferensic says.

An accompanying course is in the works, but the association is still deciding whether to offer it in print, online or in a combination of those two forms, she says.

By the fourth round of testing, the association intends to provide candidates with scores immediately after completing the exam, Ferensic says. So far, test-takers have had to wait for several weeks for their results.

A candidate who took the test during the first round called the exam "appropriately difficult" (see story).

An experienced sales agent who cares about the industry and does his homework should be able to pass it, Michael Gavin, vice president of third party sales for Merchant Warehouse Inc., a Boston-based ISO, told PaymentsSource at the time.