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01-14-2014, 02:22 PM #1
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Pscny
Has anyone heard of this company (www.pscny.us)? Apparently they allow an ISO to become more like a funder. For a monthly fee, they will take care of underwriting, contracts, merchant interviews, trade verifications, fundings, collections and reporting. The ISO just needs to provide the capital to fund the merchants.
Last edited by MCNetwork; 01-14-2014 at 02:25 PM.
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01-14-2014, 02:29 PM #2
Everyday a new one seems to pop up
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01-14-2014, 08:58 PM #3
that is a servicing model. I don't get why it would be a monthly fee. I'd charge a percentage on each deal like everyone else.
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01-14-2014, 11:41 PM #4
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01-15-2014, 12:28 PM #5
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01-15-2014, 12:34 PM #6
how can they have a flat fee if they have variable costs like credit pulls and everything else? Doesn't make any sense. If I submit 200 deals a month, they are going to charge me only $750? If it doesn't make sense, then there is a catch. What's the catch?
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01-15-2014, 02:28 PM #7
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Good question. I shall inquire further...
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01-15-2014, 04:34 PM #8
sounds like a bait and switch to me....
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01-16-2014, 11:20 PM #9