Copyright © 2019 by Chuck Faw.

Library of Congress Control Number:   2019912811

ISBN:       Hardcover       978-1-7960-5550-4

Softcover         978-1-7960-5549-8

eBook                 978-1-7960-5548-1

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the copyright owner.

Any people depicted in stock imagery provided by Getty Images are models, and such images are being used for illustrative purposes only.

Certain stock imagery © Getty Images.

Rev. date: 08/28/2019

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CONTENTS

PREFACE

VISA POLICE

INTERCHANGE FEES

PROCESSING FEES

BEST TWO WAYS TO PROCESS CARDS

CASH DISCOUNTING

THE THREE TYPES OF APPOINTMENT SETTING

TELEMARKETERS

WALK IN

REFERRAL

THREE TYPES OF AGENTS

CONTRACTS/APPLICATION

LEASING

POS

CUSTOMER SERVICE/TECH SUPPORT

CANCELLING YOUR OLD PROCESSOR

EQUIPMENT RETURN

THE FUTURE OF PROCESSING

IN CLOSING

PREFACE

THE SCAM OF THE CREDIT CARD MONOPOLY

To get as much from the merchant as possible

First off let me introduce myself. My name is Chuck Faw. I have been in the credit card processing business for almost a decade in which I have been with good processors and some very bad processors. I have learned a lot over these years in which I will share in this book in the hopes of educating you on how to proceed in the future. Everything I say in this book is my opinion based on what I have learned and seen over the last almost decade in the business.

I am the agent most processors do not like. I work for myself and not any one processor. I call out the errors of the processors and work on the merchant’s side for the merchant’s which pisses off most processors.

I am a busy person and do not want anyone wasting my time. This book is not filled with words intended to fill up a page. I get to the point to explain what the large processors can’t and won’t let you know with the fear of being shut off/shut down by Visa and Mastercard.

This book is intended to educate the reader on how the processing business is set up. As you read, you will probable ask yourself as I have over the almost ten years of being in this business…Why is the government letting this happen? I personally think the government is in on it with the major card brands who control the worlds processing.

In writing this book I am taking a risk of Visa, Mastercard and the processors blackballing me from helping any more merchants with their processing as Visa and Mastercard control the laws and rules of processing not the government? Let that sink in! Does the word MONOPOLY come to mind?

Throughout this book you will hear me talk about processors and card brands. Processors are the ones with their name on your statement. The company you do business with or you think you do business with. The name on the statement or the company you call may just be a sales organization acting as your processor (I’ll explain this later). The end processor is the company who has what is called a platform. The platform actually processes the cards with Visa. Visa controls the processing world!!

Card brands are just that. Visa, Mastercard, Discover, American Express etc.

Enough of this preface let’s get to it!

VISA POLICE

Around four years ago I had my first run in with the Visa Police. It was with one of my earlier merchants who wanted to do Cash Discounting (we will talk about cash discounting later). This merchant was paying around $2,000 per