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  1. #1
    Senior Member Reputation points: 42584
    Join Date
    Aug 2017

    Proceed Pay

    Hi DF we are currently looking to get into the Payment processing side of things.

    We are very new to this space, and we are looking for a company to build a portfolio with.

    Below is the first proposal we recieved:

    Residuals will only be paid if collected from the Merchants and Proceed Pay’s vendors and will be paid on the twenty-fifth day of the month following the month of collection. Marketing Partner shall be paid following amount each month for the services it renders under this Agreement:
    Net Income* multiplied by 70 percent (%); Free Countertop Terminals*; Free Mobile Equipment*; Free Online Processing Gateways*; Free Shipping and Fulfillment.* (*Free Equipment subject to change at anytime).
    * “Net Income” equals monthly credit and debit card processing revenue received by Proceed Pay attributable to Merchants submitted by Marketing Partner to Proceed Pay minus the costs and fees as set for the below in this Schedule A, all other Proceed Pay costs and any amounts owed to Proceed Pay under this Agreement. All increases to Proceed Pay’s costs will be passed through to Marketing Partner in this calculation.
    **Approval Bonus: $0.00 (subject to change)
    ***Activation Bonus: $100.00 (subject to change)

  2. #2
    Senior Member Reputation points: 17551
    Join Date
    Mar 2014

    What is your question? It is a typical ISO Agreement - Take a look at your Schedule "A" what is your BIN Cost, can you write business at IC PLUS - monthly minimum fee for merchant etc.

    You at 70% Revenue Share

    *a word of caution, nothing is actually "FREE"

    If you want to have a conversation, call me.
    Dave Lambert
    FC Financial LLC

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