Results 1 to 6 of 6
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08-20-2020, 02:05 PM #1
- Join Date
- Sep 2019
- Posts
- 109
Best CC processing companies
Looking to sign up as a broker with the most competitive cc processing companies, looking for direct relationships only.
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08-20-2020, 03:20 PM #2
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08-20-2020, 03:30 PM #3
- Join Date
- Sep 2019
- Posts
- 109
volume is no issue
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08-21-2020, 10:28 AM #4
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 498
Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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08-21-2020, 03:30 PM #5
- Join Date
- Aug 2014
- Posts
- 194
Almost NO CC processor has buy rates (unless you are dealing with high risk accounts), they offer rev share splits typically based off interchange pricing. Some will have a few bps built on top of their quoted interchange or bin fees etc..
You should look for your rev share to be tiered base on your volume, for example
start off at 60/40 split in your favor
Once your monthly portfolio hits either a # of accounts or monthly volume it increases to 70/30
and then once you have hit certain volume, you should be able to get to 80/20 split with your provider.
Also, take into consideration if you want upfront bonuses and free equipment, you will have more fees built into your schedule A from your processor to make up for those upfront cost.
If you are financially stable and don't need the upfront bonuses then I would look for a 70/30 - 80/20 split out the gate.
Again ask 4 or 5 of the best processing partners for their schedule A and make sure you understand what is in there and what your 70% or 80% is truly, 70% of what, straight interchange or interchange plus 5 - 10bps on top?
I would highly recommend EPI, Mike Nardy the CEO is a stand up guy and leader in this space. https://electronicpayments.com/ their agent site = https://www.bankcardprogram.com/
A second recommendation would be https://www.nuveipartner.com/partner...t-partnerships
You can't go wrong with either processing relationship, in fact I would have 2 or 3 relationships with different processors when starting out. See who it is easier to work with and who offers you the most additional tools to add to your sales.
Best of luck
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08-21-2020, 04:06 PM #6
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,926
An added note to what MCA provided - Do you want a W2 or 1099 Relationship?
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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