It begins with 20% cash back when a merchant joins while keeping his same processing equipment and rates. The merchant also receives a commission from the affiliate who referred him. They partner, refer other merchants and affiliates who also share commissions and in a very short time both are setting on a mountain of money. The next logical question is where do all these commissions come from?
It appears that competition among processors has reduced rates to an all-time low and there is no way to lower rates and still be profitable or is there? The only variable in processing costs appear to be the salespeople who go door-to-door to entice merchants North American Bancard ISO Program to switch processors or set up totally new business accounts.
Formally, salespeople were required to sell the system by answering all the merchants' questions and showing him how he would save money by switching service providers. Then, the salesperson would be required to install the equipment and be a technician to handle any system glitches.
