Product Sales Manager-Merchant Acquisition

📌 Core Information

🔹 Job Title: Product Sales Manager - Merchant Acquisition

🔹 Company: IDFC FIRST Bank

🔹 Location: Bengaluru, Karnataka, India

🔹 Job Type: Full-Time

🔹 Category: Banking & Finance

🔹 Date Posted: April 8, 2025

🔹 Experience Level: Mid-Senior level (5-10 years)

🔹 Remote Status: On-site

🚀 Job Overview

Key aspects of this role include:

• Leading a multi-city team to acquire new merchants and drive POS business volumes
• Managing and servicing a portfolio of merchant accounts while ensuring regulatory compliance
• Growing market share and wallet share through merchant activation, retention, and cross-selling
• Working within regulatory guidelines and the bank's code of conduct

ASSUMPTION: This role requires a balance of sales, management, and regulatory compliance skills. Successful candidates will have experience in merchant acquisition and portfolio management, with a strong understanding of the POS and payments industry.

📋 Key Responsibilities

✅ Acquire high-value new merchant relationships every month

✅ Onboard the merchant base within regulatory norms

✅ Manage and service the portfolio of Merchant accounts of POS

✅ Manage portfolio volume aiming to grow the same by new acquisitions and portfolio deepening within assigned locations

✅ Track the existing portfolio of Key Merchants to ensure activation/retention of merchants, grow market share, and wallet share

✅ Create cross-sell opportunities of other products to the Merchants in the portfolio

✅ Work within regulatory guidelines laid down by RBI in merchant acquiring and within compliance and code of the bank

ASSUMPTION: This role involves a high degree of autonomy and requires strong leadership, sales, and customer relationship management skills.

🎯 Required Qualifications

Education: Graduate - Any, Post Graduate - Any

Experience: Minimum of 5-8 years in POS, Payments Industry

Required Skills:

• Merchant Acquisition
• POS Business
• Relationship Management
• Portfolio Management
• Regulatory Compliance
• Cross Selling
• Market Share Growth
• Team Leadership
• Service Management
• Activation & Retention
• Volume Growth
• Onboarding
• Payments Industry
• Sales Strategy
• Customer Service

Preferred Skills:

• Experience in the banking industry
• Bilingual or multilingual skills (Hindi, Kannada, etc.)

ASSUMPTION: Given the role's focus on merchant acquisition and portfolio management, candidates with relevant experience in the POS or payments industry are strongly preferred.

💰 Compensation & Benefits

Salary Range: INR 15-20 LPA (Estimated, based on industry standards for mid-senior level roles in Bengaluru)

Benefits:

• Medical, Dental, and Vision Insurance
• Retirement Benefits
• Employee Stock Purchase Plan
• Performance-Based Bonuses
• Professional Development Opportunities

Working Hours: Full-time, typically 9:00 AM to 6:00 PM with flexibility for business needs

ASSUMPTION: The salary range is estimated based on industry standards for mid-senior level roles in Bengaluru. Actual compensation may vary based on experience and performance.

📌 Applicant Insights

🔍 Company Context

Industry: Banking, with a focus on retail, MSME, and rural banking

Company Size: 10,001+ employees (Large enterprise)

Founded: 2015 (Merger of IDFC Bank and Capital First)

Company Description:

• IDFC FIRST Bank is a universal bank offering a comprehensive range of services, including retail, MSME, rural, startups, cash & wealth management, deposits, corporate & government banking, working capital, trade finance, and treasury solutions
• Known for ethical, customer-friendly, digital, and socially responsible banking principles
• Offers 'ZERO FEE Banking' on all savings account services, making it India’s 1st & only bank to do so

Company Specialties:

• Commercial & Wholesale Banking
• Consumer financing
• Banking Services
• Retail Banking
• Investment Banking
• Project Financing

Company Website: http://www.idfcfirstbank.com/

ASSUMPTION: IDFC FIRST Bank is a large enterprise with a strong focus on ethical and customer-friendly banking practices. Candidates should expect a structured and professional work environment with a strong emphasis on compliance and customer service.

📊 Role Analysis

Career Level: Mid-Senior level (5-10 years of experience)

Reporting Structure: Reports directly to the Head of Merchant Acquisition or a similar role

Work Arrangement: On-site, with occasional travel to assigned locations

Growth Opportunities:

• Advancement to senior management roles within the merchant acquisition team
• Expansion into other areas of the bank, such as retail or corporate banking
• International assignments, as the bank expands its global footprint

ASSUMPTION: This role offers significant growth opportunities for the right candidate, with a clear path to senior management and potential international assignments.

🌍 Location & Work Environment

Office Type: Modern, multi-story office building with dedicated workspace and collaborative areas

Office Location(s): IDFC FIRST Bank Tower, The Square, C-61, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai, Maharashtra 400051 (Headquarters)

Geographic Context:

• Bengaluru is the capital city of Karnataka and the third-largest tech hub in India
• Known for its pleasant climate, vibrant culture, and growing job market
• Offers a mix of traditional and modern amenities, with a wide range of housing options

Work Schedule: Monday to Friday, 9:00 AM to 6:00 PM, with flexibility for business needs

ASSUMPTION: Bengaluru offers a high quality of life, with a pleasant climate, vibrant culture, and a strong job market. The work environment at IDFC FIRST Bank is modern and collaborative, with a focus on ethical and customer-friendly banking practices.

💼 Interview & Application Insights

Typical Process:

• Online application and resume screening
• Phone or video screening
• On-site or virtual interview with the hiring manager and team members
• Final round with senior leadership

Key Assessment Areas:

• Sales and negotiation skills
• Industry knowledge and experience
• Regulatory compliance understanding
• Leadership and team management skills
• Problem-solving and analytical skills

Application Tips:

• Highlight relevant experience in merchant acquisition and portfolio management
• Tailor your resume to emphasize skills and experiences mentioned in the job description
• Prepare for behavioral and situational interview questions focusing on sales, leadership, and problem-solving
• Research IDFC FIRST Bank's mission, values, and recent news to demonstrate your fit and enthusiasm for the role

ATS Keywords: Merchant Acquisition, POS Business, Relationship Management, Portfolio Management, Regulatory Compliance, Cross Selling, Market Share Growth, Team Leadership, Service Management, Activation, Retention, Volume Growth, Onboarding, Payments Industry, Sales Strategy, Customer Service

ASSUMPTION: The application process at IDFC FIRST Bank is structured and competitive, with a focus on assessing candidates' sales, leadership, and problem-solving skills. Successful applicants will demonstrate a strong understanding of the merchant acquisition process and a commitment to ethical and customer-friendly banking practices.

🛠️ Tools & Technologies

• Salesforce CRM
• Microsoft Office Suite (Word, Excel, PowerPoint)
• Google Workspace (Gmail, Google Drive, Google Docs)
• Merchant acquiring platforms (e.g., NPCI, Visa, Mastercard)

ASSUMPTION: This role requires proficiency in CRM software, Microsoft Office Suite, and Google Workspace. Familiarity with merchant acquiring platforms is also essential.

👔 Cultural Fit Considerations

Company Values:

• Ethical and customer-friendly banking practices
• Transparency and accountability
• Continuous learning and improvement
• Collaboration and teamwork

Work Style:

• Results-driven and performance-focused
• Collaborative and team-oriented
• Adaptable and responsive to change
• Strong commitment to regulatory compliance

Self-Assessment Questions:

• Do you have a proven track record of success in merchant acquisition and portfolio management?
• Are you comfortable working in a highly regulated environment and committed to ethical banking practices?
• Do you thrive in a collaborative, team-oriented work environment and enjoy helping others succeed?

ASSUMPTION: IDFC FIRST Bank values ethical and customer-friendly banking practices, transparency, accountability, continuous learning, and collaboration. Candidates should be results-driven, adaptable, and committed to regulatory compliance.

⚠️ Potential Challenges

• Highly competitive market for merchant acquisition
• Strict regulatory requirements and compliance standards
• Occasional travel to assigned locations, which may require overnight stays
• Potential for high stress and pressure during peak sales periods

ASSUMPTION: This role presents challenges related to market competition, regulatory compliance, travel, and sales pressure. Successful candidates will be able to navigate these challenges effectively and maintain a strong focus on ethical and customer-friendly banking practices.

📈 Similar Roles Comparison

• Unlike other sales roles, this position requires a strong understanding of regulatory compliance and a commitment to ethical banking practices
• Compared to other merchant acquisition roles, this position offers a broader range of responsibilities, including portfolio management and cross-selling
• Career progression in this role may lead to senior management positions within the merchant acquisition team or expansion into other areas of the bank

ASSUMPTION: This role offers a unique blend of sales, management, and regulatory compliance responsibilities, with a strong focus on ethical and customer-friendly banking practices. Candidates should compare this role to similar positions in the banking industry, considering the broader range of responsibilities and career progression opportunities.

📝 Sample Projects

• Developing and implementing a strategic plan to acquire high-value merchants in a new geographic region
• Optimizing the merchant onboarding process to improve activation rates and reduce time-to-market
• Identifying and capitalizing on cross-selling opportunities to increase wallet share and market share

ASSUMPTION: These sample projects highlight the strategic, operational, and sales-focused aspects of the role, demonstrating the breadth of responsibilities and the impact that successful candidates can have on the business.

❓ Key Questions to Ask During Interview

• Can you describe the current merchant acquisition strategy and how this role fits into that strategy?
• How does the bank support the growth and development of its employees, particularly in this role?
• What are the most significant challenges facing the merchant acquisition team, and how can this role address them?
• How does the bank measure the success of this role, and what key performance indicators (KPIs) will I be expected to meet?
• What opportunities are there for growth and advancement within the merchant acquisition team or the broader organization?

ASSUMPTION: These interview questions focus on the role's strategic fit, career development opportunities, challenges, performance metrics, and growth prospects, allowing candidates to better understand the position and the company's expectations.

📌 Next Steps for Applicants

To apply for this position:

• Submit your application through the IDFC FIRST Bank careers portal
• Tailor your resume to emphasize your relevant experience in merchant acquisition, portfolio management, and sales strategy
• Prepare a cover letter highlighting your enthusiasm for ethical and customer-friendly banking practices and your fit for the role
• Prepare for interview questions focusing on sales, leadership, problem-solving, and regulatory compliance
• Follow up with the hiring manager one week after submitting your application to express your continued interest in the role

⚠️ This job description contains AI-assisted information. Details should be verified directly with the employer before making decisions.