[Zonefund]

Restaurant doing 200k that wants to save $$ on cc processing.

Anyone here know who the top 5 and cheapest cc processors are, that i can also offer them mca's through down the road (merchant has 4 positions currently).

Ty

[BR-Nightmare]

Toast works great from what I hear, specifically for Restaurants. To my knowledge they also do CC splits. I don't have a contact though.

[abfunders]

@Zonefund, PM me with your email and let me introduce you go an group who does all of this work for me. They're brokers also, but they have massive volume, which means they have ALL of the CC processors and really great buy rates, and they also know the integrations and can set up with the cheapest and keep your customers happy. I've had a very difficult time cross-selling and hurting my brand, being that I'm a loan broker by trade, so my message gets less clear. However, I get paid monthly

[abfunders]

PS: This group do not do anything except CC processing (and POS), they focus on their brand, so loans are then all yours. FirstData doesn't do splits. Not all funders do splits with everyone, too, so just request from your various funders who do splits, who they split with, and work it out that way.

[Yankeeman07]

Restaurant doing 200k that wants to save $$ on cc processing.

Anyone here know who the top 5 and cheapest cc processors are, that i can also offer them mca's through down the road (merchant has 4 positions currently).

Ty

Call me to discuss credit card split funding - you have 2 options - Direct Splits or utilize a Lock-Box

***FYI - Fiserv acquired First Data in January of 2020 and there is no longer an official branded First Data website.

Dave
1-727-233-1111
dave@fcbankcard.com

[MCA-VET]

Dave has been on here almost a decade...... ! prob best bet to discuss with him.

[GoldFunded]

Send it though when they're ready for another position

[ectorro]

Dave has been on here almost a decade...... ! prob best bet to discuss with him.

Does DailyFunder send you a Rolex when you hit the 10 year mark?

[LoanMe_JG]

Toast works great from what I hear, specifically for Restaurants. To my knowledge they also do CC splits. I don't have a contact though.

Please please please do not refer anyone to Toast. I used to work in the restaurant POS space and Toast's merchant services agreement and SaaS/HaaS contracts are absolutely terrible in the long run. Decent platform but they bend merchants over hardcore.

[abfunders]

Toast will take over the CC processing and, just like everyone else, offer than a cash advance eventually as well. https://pos.toasttab.com/products/capital

Like I said, let me refer you to a group that does this as their primary form of business, credit card processing is extremely complicated.

[BR-Nightmare]

Please please please do not refer anyone to Toast. I used to work in the restaurant POS space and Toast's merchant services agreement and SaaS/HaaS contracts are absolutely terrible in the long run. Decent platform but they bend merchants over hardcore.

I was not aware of that, that sucks. Strike my reply. It was never said.....

[MCA-VET]

Does DailyFunder send you a Rolex when you hit the 10 year mark?

I hope Sean does ...as I started out in MCA in 2005 -- that will be 20 years in 2025!

[Yankeeman07]

Restaurant doing 200k that wants to save $$ on cc processing.

Anyone here know who the top 5 and cheapest cc processors are, that i can also offer them mca's through down the road (merchant has 4 positions currently).

Ty

Are you interested in making money on this or another account?

The cheapest would be Interchange Plus - Zero and Zero Transaction over your cost.

Why you would write such an account is beyond my comprehension unless you are enjoy working for free.

If you are interested in earning $$ and building a residual income, contact me.

Dave
1-727-233-111
dave@fcbankcard.com

[abfunders]

The "cheapest" for a restaurant would be "cash discount" method which would bring his CC processing fees down to 0, but, in effect, the merchant would be paying for them. (This is not a surcharge for using a CC - the same way that an MCA isn't a loan.)

[Yankeeman07]

The "cheapest" for a restaurant would be "cash discount" method which would bring his CC processing fees down to 0, but, in effect, the merchant would be paying for them. (This is not a surcharge for using a CC - the same way that an MCA isn't a loan.)

That huckster sales method is a great way to tick off customers - charging customers roughly 4% for using plastic is not a good business model.
Learn to sell the "Value" of accepting plastic - Cash Discount, Non-Cash Adjustment, Surcharging, whatever label you want to utilize is a piss poor method of selling payment solutions.

Another issue is that many of these systems in place also charge the "Cash Discount" for debit Cards, which is a violation of the Durbin Amendment

[abfunders]

I can't deny that I was trolling Dave.

Dave, like you mentioned "the cheapest" method of interchange + 0%, I decided to mention how to go even cheaper.

I'm not such a fan of the solution myself, but a lot of companies are switching over, and to spend an extra $1.37 on a $34.25 lunch isn't the worst thing people have ever done. It's only a matter of time before it becomes more common. With Amex charging 5% to merchants and clients using Amex because their points are the most valuable, instead of raising the costs on all of their products..... and brokers make more money for sure.

BTW, Dave, thank you for filing for reinstatement on your LLC.

[BR-Nightmare]

I can't deny that I was trolling Dave.

Dave, like you mentioned "the cheapest" method of interchange + 0%, I decided to mention how to go even cheaper.

I'm not such a fan of the solution myself, but a lot of companies are switching over, and to spend an extra $1.37 on a $34.25 lunch isn't the worst thing people have ever done. It's only a matter of time before it becomes more common. With Amex charging 5% to merchants and clients using Amex because their points are the most valuable, instead of raising the costs on all of their products..... and brokers make more money for sure.

BTW, Dave, thank you for filing for reinstatement on your LLC.

So is this beef settled?????

[abfunders]

Another issue is that many of these systems in place also charge the "Cash Discount" for debit Cards, which is a violation of the Durbin Amendment

And the Durbin Amendment does NOT apply to cash discount Dave. At least not yet.
https://www.paymentsjournal.com/surc...ts-difference/

[LoanMe_JG]

And the Durbin Amendment does NOT apply to cash discount Dave. At least not yet.
https://www.paymentsjournal.com/surc...ts-difference/

The article you linked is all but a promotional article for PayLo. In addition, it contains conflicting pieces of information RE: cash discounting.

"A cash discount works by applying a small customer service fee on all customer transactions. This fee is removed if the customer pays with cash or in-store gift card. True cash discount technology will automatically determine the service fee or discount amounts depending on the payment type. Legal cash discount programs must present a clear receipt detailing the service fee or cash discount amount."

Adding a service fee or surcharge ISN'T cash discounting. Adding a discount to your standard pricing for use of cash is but adding a service fee is just that and you absolutely cannot add service fees or surcharges to debit card transactions. I haven't been in merchant services for a few years now but to my knowledge and recollection, the only retail where merchants are legally allowed to add surcharges/service charges to debit card transactions are gas stations and their adjoining convenience stores.

[Jason Sterling]

Restaurant doing 200k that wants to save $$ on cc processing.

Anyone here know who the top 5 and cheapest cc processors are, that i can also offer them mca's through down the road (merchant has 4 positions currently).

Ty

We have been doing credit card split & lockbox MCA's for for 17 years straight. I have great direct split relationships with several processors and can split off First Data with two of them. Contact me if you'd like to discuss and receive a no obligation rate review for the processing business.

[Yankeeman07]

And the Durbin Amendment does NOT apply to cash discount Dave. At least not yet.
https://www.paymentsjournal.com/surc...ts-difference/

Cash Discounting - Non Cash Adjustment is nothing more than a slick method for the processors to recoup the billions they spent on buying their competition.

Not many retail merchants are paying 3.99% or 3.86 for Card Present Transactions.