Nearly 350 members of the merchant-acquiring industry have applied to take the first test for the new Certified Payments Professional credential developed and administered by the Electronic Transactions Association.
The number of applicants was more than double the expected 150, Rori Ferensic, the Washington, D.C.-based association’s director of education and professional development, tells ISO&Agent Weekly. Most of the applications came from ISOs, she says.
“I’ve been involved in testing for 25 years and I haven’t seen this large a group for a first exam,” Ferensic says. “We’re very excited about it.”
New tests rarely draw a crowd, as prospective applicants tend to wait until a test becomes established, she says. Members of the acquiring industry, however, have discussed the possibility of a test for a professional credential for years and seem ready to leap into the process, observers say.
Proponents say the credential will improve the industry’s credibility with merchants, give participating ISOs a competitive advantage, set standards for hiring, mitigate risk and promote best practices (see story).
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The association accepted applications until Oct. 1 for the first test, which examiners will administer throughout November, according to the group’s website.
Once the association judges an applicant eligible, the candidate may schedule an examination at one of nearly 400 test centers at universities and standardized testing facilities throughout North America, she says.
The association requires test-takers to have either three years of industry experience or one year working in the industry plus a high school diploma, associate’s degree or bachelor’s degree, Ferensic says.
About 130 prospective test applicants by Oct. 14 had scheduled exams, and the association hoped 300 would make appointments before the end of the month, Ferensic says.
Candidates have three hours to complete the test’s 125 multiple-choice questions, she says. The association developed test questions based on typical industry work experience, and candidates are not required to complete any courses to qualify to take the test, Ferensic notes.
To prepare for the test, candidates may visit the association site to review a general exam outline. The site provides details on test topics that include sales, pricing and interchange, operations and workflow, and products and technology.
The association has designated a committee to prepare a study guide and hopes to complete it early next year, Ferensic says.
Two tests are slated for next year, with the first scheduled for May with an April 1 application deadline, according to the website. The association charges members $325 to take the test, while nonmembers pay $425, the site says.
If demand for testing remains strong, the association would consider setting up additional testing periods next year, Ferensic says.
