Global ISO's

GRP Funding · #1 (**permalink**) 08-07-2008, 11:14 AM

We're looking to expand our "compatible processor" list -

Right now we are able to splitbatch with Integrity and Cynergy - and we also ACH - Most of our sales offices right now use Chase Paymentech, who have been very hard to get in contact with

We were told by a few other advance companies that ISO's of Global Payments are a good place to start for splitbatching, since they are registered and would have access to the backend.

Anyone have any good connections with these ISO's? I've been trying to call the numbers on the websites, and send emails - but little to no response.

Thanks in advance.

1st Merchant Funding · #2 (**permalink**) 08-07-2008, 12:29 PM

What type of volume you looking at?

GRP Funding · #3 (**permalink**) 08-07-2008, 02:03 PM

The majority of our volume (85%+) is from our sales offices that use Integrity or Cynergy as their preferred processor, which is already taken care of because we can split with either or - and we also get a lot of ACH deals with Chase Paymentech.

We probably see 15-20 deals per month that end up going ACH with Chase Paymentech. Average deal - $12-$15k on these.

We have some smaller sales offices that already have an established relationship with a processor - we might see 10 deals a month from these offices combined - but as we grow our agent program, we would like to be compatible with whatever processor they bring to the table.

1st Merchant Funding · #4 (**permalink**) 08-07-2008, 03:34 PM

Just so I understand, is "GRP Funding" placing the UCC lien on the merchant?

LauraFranklin · #5 (**permalink**) 08-07-2008, 03:54 PM

Quote:

Originally Posted by 1stMerchantFunding

Just so I understand, is "GRP Funding" placing the UCC lien on the merchant?

I would hope every funding source is placing a UCC on the merchants to help avoid merchants taking advances from multiple sources.

Laura

GRP Funding · #6 (**permalink**) 08-07-2008, 04:16 PM

Yes, we are the funding source

Approved · #7 (**permalink**) 08-12-2008, 07:34 PM

Quote:

Originally Posted by GRP Funding

The majority of our volume (85%+) is from our sales offices that use Integrity or Cynergy as their preferred processor, which is already taken care of because we can split with either or - and we also get a lot of ACH deals with Chase Paymentech.

We probably see 15-20 deals per month that end up going ACH with Chase Paymentech. Average deal - $12-$15k on these.

We have some smaller sales offices that already have an established relationship with a processor - we might see 10 deals a month from these offices combined - but as we grow our agent program, we would like to be compatible with whatever processor they bring to the table.

Honestly I am surprised that anyone these days deal with Cynergy Data. They own a sizable chunck of Merchant Cash and Capital so they compete with you and YOU give them YOUR merchants, they are a pain in the butt on underwriting merchants and have creative after the fact contracts. There are so many better places to do send merchants, why Cynergy??

GRP Funding · #8 (**permalink**) 08-13-2008, 09:24 AM

Approved,

We don't submit deals to Cynergy - but we do work with a few small ISO's that use Cynergy as their processor. Although most of them end up being ACH deals - we do split batch a few of them. We don't submit any deals to any processor. Our sales offices decide where the merchant is placed for processing.

rfgfinance · #9 (**permalink**) 08-25-2008, 11:23 PM

merchants are taking multiple advances at the same time, regardless of ucc's-stacking is occuring much more these days- either merchants caught on to this gimmick or brokers are teaching merchants how to do this- i have spoke to several funders who claim they have seen an increase in "stacking" of advances while using two different processing companies at once to split fund for each cash advance company- i think a lot of merchants in the low credit strata are the one's doing this-

1st Merchant Funding · #10 (**permalink**) 08-26-2008, 03:42 PM

Quote:

Originally Posted by rfgfinance

merchants are taking multiple advances at the same time, regardless of ucc's-stacking is occuring much more these days- either merchants caught on to this gimmick or brokers are teaching merchants how to do this- i have spoke to several funders who claim they have seen an increase in "stacking" of advances while using two different processing companies at once to split fund for each cash advance company- i think a lot of merchants in the low credit strata are the one's doing this-

I'm curious to know which advance companies are giving out MCA's to merchants with outstanding UCC liens?

Anyone? Forum Police?