[J.Celifarco]

try putting your phone number on the app . and update us in a week . nothing wrong with the broker side but the sales side is taking leads with or without upper management knowledge

Michael I am working with them a whole and have never seen anything like you are talking about.. We will randomly do this on deals with banks we work with to make sure things are all being done as they are supposed to and have personally never seen any issues with them

[It's A Wonderful ISO]

try putting your phone number on the app . and update us in a week . nothing wrong with the broker side but the sales side is taking leads with or without upper management knowledge

Couldn't agree more, our client was actually willing to sign an affidavit stating that the rep who called from Credibly said specifically, "do not work with your broker, work directly through us and get a cheaper rate"...... how can i possibly compete against myself like that.. like it or not folks, this is what's happening

[Lender Of Gold]

Seeing from the folks who are complaining, seems to me like the backdooring is taking place against smaller ISOs but the posters for bigger ISOs, or more well-known reps who submit more volume have no issues.

Perhaps they're just picking on the ones they feel they can get away with? Just one more problem if you're not slaving away at the mercy of corporate hierarchy.

[John Galt]

Gotta have volume to do anything. I only sent one account to Powerup and they stole the renewal, never paid the commission. Not a big acct but 25K. I moved it to a company I have volume with.

[jotucker1983]

I think funders/lenders should develop more advanced Partner Portals (like a major A Paper firm does) so Brokers can see all of their new deals, renewal deals, and the outstanding balances (including any missed payments) on said renewal portfolio.

That allows a Broker to immediately call up a merchant in their renewal portfolio to try and resolve a situation of them having missed a couple of payments in a row. It also avoids the confusion that took place in the OP's situation.

[jotucker1983]

Gotta have volume to do anything. I only sent one account to Powerup and they stole the renewal, never paid the commission. Not a big acct but 25K. I moved it to a company I have volume with.

*Knock on wood*...I haven't had any back dooring issues and I'm just a one man shop. But on the other hand, all of my funders/lenders have been around the industry for years (since 2009 at least) and I've been working with them for years.

I'm sorry, but it's one of the reasons I don't even entertain a lot of the newer funders/lenders. Just too much bad press of them stealing commissions and plus, they aren't really doing anything different than my current partners are anyway.

[Michael I]

Seeing from the folks who are complaining, seems to me like the backdooring is taking place against smaller ISOs but the posters for bigger ISOs, or more well-known reps who submit more volume have no issues.

Perhaps they're just picking on the ones they feel they can get away with? Just one more problem if you're not slaving away at the mercy of corporate hierarchy.

Define small . Funded a little over a million the previous month .
I honestly feel it's reps that will probably get fired if caught but bottom line it is happening because thier rules allow it .
Rep couldn't argue with facts and offered me a couple of extra points on future deals till commisson was made up . Lol

[michaelh]

Ok so I can't see how this could happen as claimed. All of your deals are listed in their Portal and it shows renewals and commission and they even have a portfolio performance section that tell syou the status and even charge offs.
My Relationship Summary
Last 12 Months Last Month Present Month

[NoBigDeal]

I think funders/lenders should develop more advanced Partner Portals (like a major A Paper firm does) so Brokers can see all of their new deals, renewal deals, and the outstanding balances (including any missed payments) on said renewal portfolio.

That allows a Broker to immediately call up a merchant in their renewal portfolio to try and resolve a situation of them having missed a couple of payments in a row. It also avoids the confusion that took place in the OP's situation.

Pearl offers this tool. Once an ISO funds a deal they're able to track it in real time, seeing how the client performs, if there were any missed payments, time for renewal etc.