Not exactly...

You said...
Aren't all the businesses who want
to accept credit cards already set up to do so?

So your target market is businesses who are just setting up and haven't
done a web search yet and you knock on their door before their first
customer and sell them a credit card swiper? Hmmmmmmmm. Color me
jaundiced.

I have no idea about the legitimacy of the company in question, however what you said is basically true but not indicative of a scam or a bad opportunity.

You have to understand that while you and I an others are always on the computer and are internet savvy, many people are not.

Business owners, while they might be computer/internet savvy, do not usually have the time to be checking out every offer/company under the sun or even just one company.

No one every said that a sales opportunity or a biz opportunity has to be easy. Most likely, it won't be.

If you are selling merchant accounts and credit card terminals, you are in a highly competitive business. While you can target just new businesses, you will probably die of famine if that is your only market. You have to target existing business that already have merchant accounts. Your job as a salesman is to sell. That means that you must be able to sell that merchant account to a business that already has one. It's not easy but it's not a scam to have to do that either.

Just because you and I might not be excited about or welcome a salesman trying to sell them something we already have, many business owners are not necessarily that way. They welcome salesman selling them stuff they already have because they realize that they may not be getting the best deal/service/product with their current vendor.

If the world operated such that you could not sell anything to anyone if they already had that product/service you are selling, then the world as we know it today would stop and not exist. The first guy in the door would get all the business and competition would not exist. What this would mean is that there would be monopolies all over the place. And we know already that monopolies are not a good thing and competition is not only good but necessary for various reasons.

To say or insinuate that a certain job/opportunity might be a scam or not a good idea merely because the product or service is already sold by many other companies or that most people already have the product/service you will be selling is completely a bad attitude for a salesman and will almost certainly ensure failure on the salesman's part.

Just ask Dennis Bevers. He's in a highly competitive industry. He sells a product/service that every established company already uses. Nonetheless, he is successful because he is a salesman that understands that it is possible to convert customers of a competing company into his own customer. He understands what it takes to do this and he also understands that not all business owners that could use his products are closed minded such that they will not welcome him when he strolls into their place of business trying to sell them on switching over to him and abandoning their current vendor.

Oh well. I might be rambling. But the bottom line is just because an industry is highly competitive it does not mean that it is not a good opportunity. However, it will mean that you have to be sales oriented in order to succeed.