I had an experience with a funder where they quoted us some "fantasy" rates. A funder. Not an ISO masked as a funder. These guys have been around quite some time (at least the people on the team).

They sat down with us in person, we discussed things. Their original "buy rate" schedule was generally acceptable - par for the course. Wouldn't have taken a meeting if it were not.

Unsolicited, we get an adjustment to the buy rate schedule about a week later. Everything dropped by 10 points. All buy rates.

Instantly smelled a rat... Essentially they showed us the lowest rates in MCA (easy to do because they were clearly fantasy) So clearly we'll be staying far away from them. If these rates were true, they wouldn't be a player in MCA - they would be the only player in MCA.

I am struggling to figure out what was on their mind when they "crafted" this strategy. What was the rationale or logic behind trying to "dupe us" into submitting to them? Did they think we were blithering idiots? Even if we completely fell for the trick, what was their plan when after X number of submissions we figured the buy rates weren't worth the ink they were printed on? Were they really willing to pre-emptively blow up an entire potentially long term relationship just to get a few submissions right now?

ISO's you guys getting "fantasy" rates? Funders you marketing "fantasy" rates to lure in ISO's?

What's going on here???