Brad Weimert, Merchant Account Secrets To Avoid Getting Shut Down Or Having Your Money Frozen

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00:00
welcome to funnel hacker radio podcast
00:02
where we go behind the scenes and
00:05
uncover the tactics and strategies top
00:07
entrepreneurs are using to make more
00:09
sales dominate their markets and how you
00:12
can get those same results here is your
00:14
host Dave Woodward cannot wait to have
00:22
this guest on today I am so real quick
00:25
got it I gotta introduce who he is
00:27
because this is a guy I have he’s been
00:29
bugging the crap out of me for a long
00:30
time but most important these big guy
00:32
I’ve been dying to get out our podcast
00:33
so welcome welcome to Brad Weimer who is
00:35
the adventure entrepreneur and the
00:37
founder of Easy Pay direct welcome hey
00:40
thanks so much I appreciate you having
00:41
me on man
00:42
oh my gosh I am so excited to have you
00:44
on this is a Brad and I both share one
00:47
of the things two things and that is a
00:49
huge entrepreneurial desire but most
00:51
importantly adventure and that’s one of
00:53
things I want to dive right into is is
00:54
as I’d love for you just kind of tell
00:56
you tell a little bit about yourself
00:58
obviously you’ve got the Mohawk going
00:59
more important than that is the crazy
01:02
thing for me is here’s a guy who’s all
01:04
out there loves the adventure less
01:06
explore it and have a ton of fun and at
01:08
the same time isn’t probably one of the
01:09
most risk adverse types of industries
01:12
ever so that it’s kind of an interesting
01:13
dichotomy here between the two so if you
01:16
don’t mind Brent’s dive in tell us a
01:17
little about yourself sure totally
01:20
so he’s Peter act as a high-volume
01:24
ecommerce credit card processing company
01:26
so we set up merchant accounts and we
01:28
built some software specifically for
01:30
higher volume e-commerce companies and
01:33
yeah I think like you said there’s some
01:35
innate risk aversion there but more
01:38
importantly there’s risk management so
01:41
we can dive into the specifics of that
01:42
first but my you know my world pretty
01:45
much revolves around growth and
01:49
relationship building that’s how I sort
01:51
of distill everything like what gets me
01:52
excited is building relationships and
01:54
growing as a person
01:55
and anytime you can find a unique
01:59
experience it accelerates both growth
02:02
and the relationships that you have so
02:04
you know if you’re as simple as as if
02:08
you’re sitting in a restaurant and the
02:10
server drops an entire tray of stuff and
02:12
it’s a big scene
02:14
the person that you’re sitting with you
02:16
will both connect quicker because that
02:18
was a little bit different than every
02:19
other dining experience so we’ll build
02:22
this environment to do that and for me
02:24
adventures are one of the things that
02:26
really accelerate that because they tend
02:28
to be very unique but on top of that
02:30
there’s this mass emotional charge to it
02:33
so that’s I’m always seeking out
02:35
adventures whether it’s you know
02:37
endurance athletics or rock climbing or
02:40
mountain climbing or skydiving or scuba
02:42
diving or whatever I can do to find that
02:45
unique experience I’m after well I am
02:50
the same way that’s one thing I always
02:52
tell my kids you know what I don’t care
02:54
about the gifts as much as I care about
02:56
the experience because you’ll remember
02:57
the experience a thousand times but when
02:58
you get a little gift so I love creating
03:01
experiences for people I think that’s
03:02
really was really super cool that’s
03:04
great man so tell me what are some of
03:06
the coolest you’ve been on recently
03:08
things that you like to there have been
03:09
fun um so you know lately I’ve been
03:14
doing a ton of rock climbing but uh but
03:20
the that kind of one of the things that
03:22
transitioned into that was I’ve done a
03:24
little bit of mountaineering too I had a
03:26
UH I had a friend call me ah a couple
03:31
years ago and he said hey so his name’s
03:34
Carl and he said hey Brad so there was
03:36
the opening of the phone call hey Brad
03:37
so I know you’re not really experienced
03:39
enough to do this great start great
03:42
great start to the call but do you want
03:45
to go climb the three tallest mountains
03:47
in the Swiss Alps and my response was
03:50
buck yeah and and you know he’s very
03:54
smart and very experienced and he hangs
03:57
up the phone and he calls me back four
03:58
days later and he’s like so have you
04:00
thought about it I was like yeah yeah
04:02
yeah I thought about it and I’m in let’s
04:04
do it so we go on this we go on this
04:08
trip and I spend the next several months
04:10
training and I have to do research and
04:13
homework on what kind of training I
04:15
should be doing because unlike rock
04:17
climbing mountaineering is you know lots
04:20
of gear cold weather you’re on your feet
04:24
a lot of the time you wear crampons
04:25
which are these big spikes that you put
04:27
on
04:28
your boots it’s just different dynamic
04:31
than a vertical wall with you know that
04:33
you’re using your rock climbing shoes
04:34
and hands on so I train and I get in
04:38
really good shape to do this and I’m
04:40
like climbing the stairs of the
04:42
high-rise I live in up and down up and
04:45
down up and down then I add the pack so
04:46
I’ve got fifty pounds on my back up and
04:49
down up and down people think I’m nuts
04:51
in the building right so we that was a
04:55
that was a really cool experience but
04:57
there was a there was a specific moment
04:59
when I when I was so glad that I had
05:03
somebody really experienced with me
05:05
because he kind of created the packing
05:07
list and he told me hey these are the
05:09
things you have to bring when we go on
05:10
this this adventure it’s awesome
05:13
and so we’re and this this will come
05:16
full circle but we’re about to climb
05:19
Mont Blanc and Mont Blanc is the tallest
05:21
mountain in the Swiss Alps but it’s not
05:23
technical at all it’s just a long sort
05:26
of drudging experience so we start going
05:30
and I realized that Carl while an
05:33
incredibly technical climber he’s
05:35
climbed some of the biggest mountains in
05:37
the world he was horribly out of shape
05:40
and he had not trained at all to do this
05:43
so because you know he’s just he’s
05:45
climbed like 50 mountains so we’re going
05:48
and it is like I literally am taking
05:50
seven steps and then I would stop and
05:52
count in my head
05:53
1 2 3 4 but wait until Carl caught up to
05:58
me so this is the pace that we’re going
06:01
at which for anybody that’s done any
06:02
sort of long term or like any sort of
06:06
endurance athletics or even a little bit
06:09
of a long run the only thing you want to
06:11
do is just zone out you just want to be
06:13
able to go so this pace is brutal so we
06:17
spend a few hours of this kind of
06:19
up-down up-down we’re doing these like
06:22
winding switchbacks up the mountain and
06:24
we’re on our feet but you’re kind of
06:26
using the axe periodically to assist you
06:29
in like little verticals and then we hit
06:31
this part where there’s this massive
06:34
crevasse it’s like you know you can’t
06:36
see the bottom it’s probably 2,000 feet
06:38
down and it’s you know ten feet across
06:42
and Carl who’s leading says hey yeah now
06:46
we just need a climb up climb up the
06:48
wall but we are for the first time
06:50
completely vertical so we have to like
06:53
step over this crevasse you kind of have
06:55
a brace that you you kind of like walk
06:59
around an edge and then you have to go
07:01
straight vertical but but beneath you is
07:03
nothing and the only thing that you’re
07:05
attached to is each other so you’re
07:07
kicking you know you’re kicking your
07:09
left toe in which has spikes on it right
07:11
so you’ve got these crampons that are
07:14
just metal they’re like they’re like
07:16
metal cages that wrap around your shoes
07:18
and they kind of snap on your boots if
07:20
you kick the spikes in from the crampon
07:23
you kick your left foot kick your left
07:25
or your right foot then you put one axe
07:27
in with your right hand one axe in with
07:29
your left hand and then you step up left
07:31
foot right foot axe axe left foot right
07:34
foot axe axe and you keep going up at
07:37
this pace and we probably have a hundred
07:38
foot ascent or something like that and
07:40
this is terrifying to me right like I
07:42
this is what he means by you’re not
07:44
experienced enough to do this so he goes
07:48
first and we we get finally we get to
07:51
the top and I’m now that the roles are
07:54
totally reversed he’s like flying he
07:55
just wants to fly up the thing and I’m
07:58
shaking you know I’m like oh god I don’t
08:00
know what to do here so we we get up
08:02
keep and I can feel the Rope sort of
08:05
pulling on me that we’re connected right
08:07
but if one of us Falls the hope is just
08:09
that you’re that your partner’s axes are
08:12
going to be into the ice deep enough to
08:14
catch the other person but there’s
08:16
nothing else supporting you so he’s kind
08:18
of pulling on me we get up to the top
08:19
and as I step over the top over the edge
08:23
I step up and I put both feet on the
08:26
ground and I kind of my I’m waiting for
08:29
my heart rate to go down a little bit
08:30
but I look down and I have one cramp on
08:33
on and the other cramp on is no longer
08:36
on my boot and I look I look back over
08:39
the edge in my crampon is stuck into the
08:42
side of the wall it like right at the
08:45
top like the last kick that I did as I
08:47
pulled my foot up and stood on the top
08:50
the crampon was stuck in the wall now
08:52
frame a reference first of all this
08:54
doesn’t happen all
08:55
the time but what had happened is my the
08:58
crampon had just unclipped and my boob
09:02
just pulled right out of it now what’s
09:04
scary about that is if you don’t have
09:07
these metal spikes on the bottom of your
09:09
feet you know if you can get back down
09:12
at all
09:12
is a massive question like what you do
09:15
at that point I I don’t even know so I
09:19
doubt and I hook the cramp on with my
09:23
ice axe and pull it back up and I have
09:26
it but one of the things that had
09:27
happened through that process was I
09:29
pulled it up and I broke the little
09:31
clasp that locks the crampon on so we’re
09:34
standing on top of this and it’s not the
09:36
top of the mountain but one of the one
09:38
of the peaks of the mountain and I don’t
09:41
know what to do at this point in Carl
09:43
the person who pack their stuff and meet
09:46
the packing list said look don’t worry
09:48
about it we have this called like it’s
09:53
like a steel strap that has punched
09:55
holes in it you can get it at like Home
09:57
Depot or whatever but he said one of the
10:00
things that we always climb with is duct
10:03
tape the punch steel strapping in toilet
10:06
paper which is not relevant to this so
10:10
we pull out this little piece of steel
10:11
strapping in duct tape and fix the
10:15
crampon back onto my boot but I mean
10:17
holy crap had we not had that like so
10:21
many things could have gone wrong right
10:22
if the crampons fell I would have been
10:24
screwed if we didn’t have this steel
10:26
strapping I don’t know what I would have
10:28
done I wouldn’t have been able to use
10:29
the crampon so that was like this that
10:31
was one of those moments in adventure
10:33
where a you know now this climbing
10:35
partner of mine Carl I will remember
10:37
forever and we will continue to be great
10:39
friends forever but be that was one of
10:42
these moments where I thought man I
10:44
really need to think through the
10:45
adventures on the front end and make
10:47
sure I’m prepared to do them I love it
10:50
well tell me obviously the key here is
10:53
how all this ties it to the risk of risk
10:55
aversion of things and most importantly
10:57
risk management what you just kind of
10:58
showed so tell us a little more about
10:59
EasyPay directed exactly what does you
11:02
guys do and how people are able to
11:04
actually use that to answer
11:05

  • really man’s the risk yeah so one of
    11:11
    the challenges in when you get to a
    11:14
    certain point in business is that
    11:16
    merchant account providers have sort of
    11:20
    a knee-jerk reaction to the introduction
    11:23
    of new products or increasing in volume
    11:25
    or whatever but if you google merchant
    11:29
    account horror stories you will come up
    11:31
    with millions of hits and and lots of
    11:34
    people trying to sell you stuff by the
    11:35
    way but you’ll come up with millions of
    11:37
    hits of business owners specifically
    11:41
    ecommerce companies that had a spike in
    11:44
    volume and their provider closed their
    11:46
    merchant account and then all of a
    11:47
    sudden they couldn’t accept credit cards
    11:48
    or they had a spike in volume and the
    11:53
    provider held a chunk of their money or
    11:55
    they didn’t have a spike in volume at
    11:56
    all but the provider just decided hey we
    12:01
    don’t like this business model anymore
    12:02
    and I could go on about that for quite a
    12:05
    while but the the problem is that
    12:08
    they’re controlling their risk and what
    12:11
    that means is the conversation - but
    12:13
    they’re controlling their risk and from
    12:15
    a business owners perspective it feels
    12:18
    like you’re getting blindsided but if
    12:19
    you lose the ability accept credit cards
    12:21
    you’re just in a world of hurt I mean
    12:22
    obviously you can’t really do ecommerce
    12:24
    if you can’t accept credit cards so easy
    12:27
    pay direct built a gateway that allows
    12:29
    you to put multiple merchant accounts
    12:31
    into it and then automatically split the
    12:33
    sales volume across them it’s called
    12:35
    load balancing and we’re designed to be
    12:38
    a one-stop shop so we setup the gateway
    12:41
    for you and then we set up merchant
    12:43
    accounts for you to facilitate that
    12:45
    process and that becomes most relevant
    12:47
    once you sort of past the 20 30 40 grand
    12:51
    a month mark but incredibly incredibly
    12:54
    relevant as you get into larger sizes
    12:57
    you know 100 grand a month a million a
    12:59
    month 10 million a month
    13:00
    that’s crazy cool I think that’s
    13:03
    probably the thing only because I know
    13:05
    we’ve had this experience unfortunately
    13:07
    and anybody’s had any success online
    13:10
    attend this experience and it’s one
    13:12
    experience you want to avoid the last
    13:14
    thing you want is your merch
    13:15
    count being shut down or your merchants
    13:17
    holding hundreds of thousands of your
    13:19
    dollars going wait a second that’s my
    13:20
    money I can’t use it and all of a sudden
    13:22
    you’ve got an issue and your your your
    13:24
    baby everything else so anybody’s
    13:26
    listened to any of Russell stories one
    13:28
    of those stories where we almost went
    13:30
    bankrupt was around this exact same
    13:32
    issue and that is merchants encounter
    13:34
    problems so I really want to make sure
    13:36
    we have Bratz on today to really kind of
    13:37
    talk about this and again you got a lot
    13:39
    of guys going gosh 20,000 30,000 40,000
    13:41
    a month realize guys that actually
    13:43
    happens really fast if you’re building
    13:45
    your business correctly and so I want to
    13:47
    make sure that you guys understand the
    13:49
    importance of picking your merchant
    13:51
    account at the beginning it’s really
    13:54
    hard to be in a situation where all the
    13:57
    sudden your merchant accounts gets shut
    13:58
    down and then you’re trying to find
    13:59
    somebody so I really want to make sure
    14:02
    that Brad came on I talked a little bit
    14:03
    about this and what to look for so Brad
    14:06
    don’t lie yeah a lot of our users start
    14:08
    off with stripe and PayPal except them
    14:10
    if you don’t my kind of help them
    14:11
    understand what the difference is
    14:12
    between merchant accounts and PayPal and
    14:14
    stripe and most importantly you know
    14:16
    when when they should use one when they
    14:18
    should use the other yeah totally so
    14:20
    first foremost I’m glad I’m glad you
    14:22
    just said that because one of the one of
    14:25
    the common things that we run into is oh
    14:28
    well I’ve never had a problem so I’m not
    14:29
    gonna have a problem and I think it’s
    14:31
    really really valuable for you and for
    14:35
    Russell to share that it has happened to
    14:37
    you and that oh my gosh it happens to
    14:39
    everybody yeah because once you start
    14:44
    doing a lot of volume it’s going to
    14:45
    happen so it’s not if it’s only win and
    14:48
    it’s like under any type of insurance
    14:50
    you can’t buy that insurance afterwards
    14:52
    so this is the kind of thing you want to
    14:54
    make sure you set up right at the
    14:55
    beginning yep and to be clear we you
    14:57
    know we see it happen with people that
    14:59
    are doing 10 grand a month and people
    15:01
    that are doing 10 million a month and
    15:03
    it’s just and honestly you can stay oh
    15:06
    it’s a much bigger deal when it happens
    15:08
    at 10 million a month because it’s so
    15:09
    much more money but I’ll tell you that
    15:11
    the impact to the business owner feels
    15:14
    much greater for that 10 grand a month
    15:15
    business because it’s all the money they
    15:18
    have right it’s everything that they’ve
    15:20
    worked for and it will impact lifestyle
    15:23
    yeah so the major difference is here
    15:28
    PayPal and stripe
    15:29
    are what are call or what are considered
    15:31
    merchant account aggregators and if they
    15:34
    are a fundamentally different business
    15:36
    model than a merchant account provider
    15:37
    so the idea is that PayPal and stripe
    15:40
    have what in this is an
    15:42
    oversimplification but they have they
    15:44
    each have one merchant account so let’s
    15:46
    say stripe has one merchant account and
    15:48
    then they let thousands or hundreds of
    15:51
    thousands of people use that one
    15:53
    merchant account in the idea is that if
    15:55
    one of those business owners is
    15:57
    fraudulent or you know goes bankrupt and
    16:01
    then can’t pay back refunds and charge
    16:03
    backs they’re still going to be ok
    16:05
    because they’re balancing the risk
    16:06
    across their whole portfolio versus
    16:10
    traditional merchant accounts where
    16:12
    there’s a one-to-one relationship so we
    16:15
    create one merchant account for one
    16:16
    business owner now why would you do one
    16:19
    versus the other PayPal and stripe are
    16:22
    really good models for people that want
    16:25
    to turn something on immediately right
    16:27
    hey I need to accept payments today or
    16:29
    tomorrow that’s awesome but what that
    16:32
    means inherence and built into that
    16:34
    model is awesome you can accept payments
    16:36
    immediately but they’re gonna restrict
    16:38
    certain industries that are just
    16:39
    quote-unquote too risky for them and
    16:41
    those are things like ecig arete
    16:43
    companies travel companies network
    16:46
    marketing companies information product
    16:48
    companies tons of those things are on
    16:50
    there prohibited list so you’ll either
    16:52
    get declined right away or worse you’ll
    16:55
    get approved and then they’ll find out
    16:56
    later that you’re not in the vertical
    16:58
    that they like but built into that model
    17:02
    is we turn they turn all of the accounts
    17:04
    on right away and they control risk
    17:06
    later that’s what the aggregation model
    17:09
    is about speed to accept payments
    17:11
    awesome and then they review and look at
    17:13
    and say hey is this something that we
    17:15
    like and control it later the problem is
    17:17
    because they don’t know who you are what
    17:19
    you do what kind of products you sell
    17:20
    how you’re structured you know how you
    17:22
    source products how you deliver products
    17:24
    if you deliver products there’s no way
    17:28
    to control risk other than to close the
    17:30
    account later or suspend the account
    17:32
    later so that’s how they control risk
    17:34
    it’s fast approval you know assessing
    17:38
    risk after the fact the opposite of that
    17:42
    our traditional merge
    17:43
    accounts and traditional merchant
    17:44
    accounts you go through an underwriting
    17:46
    process in the front end in with the by
    17:48
    the way I want to say that there are 99%
    17:51
    of the merchant account providers out
    17:52
    there operate very much like stripe and
    17:54
    PayPal they approve things really
    17:57
    quickly and then they worry about it
    17:58
    later and just close it later
    17:59
    why because they make more money that
    18:02
    way right because at least on the front
    18:04
    end because they’re able to take fees
    18:06
    from you on the front end you process
    18:08
    payments they get a percentage of it
    18:10
    they take fees on the front end and then
    18:12
    they close it there is this 1% of
    18:16
    merchant account providers out there
    18:17
    that are focused on ecommerce and their
    18:20
    goal is to do really good underwriting
    18:23
    on the front end they want to know who
    18:24
    you are what you do what your background
    18:26
    is what the businesses background is
    18:28
    what kind of products you’re selling how
    18:30
    you’re marketing them what your terms
    18:31
    and conditions are because if they do
    18:33
    all of that and then they approve you
    18:36
    you’re much much much much less likely
    18:38
    to get shut down because they’ve already
    18:40
    done the underwriting story we
    18:46
    integrated with so we’ve got an
    18:48
    integration with PayPal for quite some
    18:49
    time but Braintree was one we were was
    18:51
    owned by PayPal it’s kind of a way
    18:54
    they’re doing their business now we
    18:55
    actually had a lot so we rolled out this
    18:58
    integration about four months ago
    19:00
    and sent a ton of business to Braintree
    19:03
    where Braintree T Louis shut down all of
    19:05
    our integrations at first and we have
    19:07
    people you know crying uh saying gosh
    19:10
    you know what’s wrong what what’s click
    19:11
    phone’s doing it wasn’t a click phone’s
    19:13
    issue it was a Braintree PayPal Edition
    19:15
    that was we were sending them too much
    19:16
    business that they literally could not
    19:17
    under write it fast enough and I think
    19:20
    what you were just saying is you know
    19:22
    here they’re giving away of all these
    19:22
    free accounts that didn’t understand the
    19:25
    risk that’s involved there so I think
    19:26
    it’s really important you guys did you
    19:27
    understand and you listened to a ground
    19:28
    saying here that go ahead if you if
    19:31
    you’re gonna start with strike or
    19:32
    something like that that’s fine we’d
    19:33
    love that and get started get going
    19:35
    but at the same time you’re doing that
    19:36
    you need to start looking at setting up
    19:38
    an immersion accountant Francis Scott
    19:39
    has done a great job at understanding
    19:42
    this business that’s again main reason I
    19:43
    wanted to have him on I really hope you
    19:45
    guys understand this so if you don’t
    19:47
    mind help people understand you know how
    19:49
    how what is the best way for for them to
    19:52
    really kind of get going into stuff what
    19:54
    do they do
    19:57
    honestly the one of the most important
    20:00
    things is because is to trust somebody
    20:04
    to have somebody you can trust honestly
    20:07
    because the merchant account world like
    20:09
    I said 99% of the people out there just
    20:12
    they’re just they’re just like the same
    20:16
    structure as PayPal stripe they just
    20:18
    want to get you on the books quickly so
    20:20
    they can make money and they don’t
    20:22
    understand the background most of them
    20:23
    the agents that are selling so look when
    20:26
    you google this stuff you end up with
    20:27
    tons of results of people that you don’t
    20:29
    really want to work with so getting a
    20:32
    recommendation that the fact that I’m on
    20:34
    the podcast lend some credibility to me
    20:36
    for the moment right
    20:39
    but you it’s really important to have
    20:41
    somebody who trusts because you can go
    20:43
    out and learn all this stuff we like we
    20:45
    have information products that help
    20:46
    educate our clients about the world but
    20:50
    you can only be an expert in so many
    20:51
    things and as an entrepreneur you should
    20:54
    focus on operations and marketing and
    20:57
    your funnels and hiring and being an
    21:00
    entrepreneur not the nuances of online
    21:03
    payments so you know internally we’ve
    21:07
    made a point of starting everything with
    21:10
    a call right starting everything with a
    21:12
    15-minute consultations that we can get
    21:14
    to know the person’s business model and
    21:16
    we have an online application that you
    21:18
    can go through and it shows people or it
    21:20
    digs into those questions but everybody
    21:22
    is different right some people want to
    21:24
    do it the attacks hands off where they
    21:26
    just give us the info that way some
    21:27
    people want to have a call but it starts
    21:29
    with getting to know the business model
    21:30
    so Brad what do they start contacting
    21:33
    you for this kinda stuff what’s there I
    21:35
    mean yeah some of these guys listen that
    21:37
    you don’t make anything at all for the
    21:38
    first you know month or two what what is
    21:40
    the best point to start because I the
    21:43
    last thing you guys want to be is in a
    21:44
    situation where you’ve got a whole bunch
    21:46
    of stuff coming in and then you get shut
    21:48
    down so you can have to avoid that so
    21:49
    what’s the best time for them to contact
    21:51
    a company like yourself to really get
    21:52
    going
    21:54
    the easy answer to that is ahead of time
    21:56
    because you’re you’re dead on so we get
    21:59
    calls from people that say oh we’re
    22:02
    doing a product launch next week
    22:05
    can you get us up and running and the
    22:07
    answer is probably yes but you should
    22:10
    have called this month ago so really you
    22:14
    want to get this this stuff set up a
    22:15
    month at least a month before or two
    22:19
    months before you do something like a
    22:21
    product launch and if you’re new in
    22:23
    business
    22:24
    my suggestion is PayPal and stripe or
    22:26
    fine to vet the concept but once you see
    22:29
    that your concept works and that you’re
    22:32
    capable of doing things as soon as
    22:34
    you’re kind of on the upswing to ten
    22:36
    grand a month so you’re doing a couple
    22:38
    grand a month a few grand a month then
    22:39
    you should set up the first merchant
    22:40
    account and then as things roll from
    22:43
    there you know we’re designed to set up
    22:46
    additional merchant accounts as volume
    22:48
    increases etc but that’s when you want
    22:50
    to start you you need to start looking
    22:51
    at multiple merchant accounts once you
    22:53
    pass you know 20 30 grand a month but
    22:56
    you should definitely look at a real
    22:58
    merchant account as opposed to an
    22:59
    aggregator like stripe or PayPal as soon
    23:02
    as you vet concept as soon as you know
    23:03
    that the model works at least 2,000 a
    23:09
    month that’s where they need to look at
    23:11
    emerging out yeah and that’s also by the
    23:13
    way where the fees make sense so that
    23:16
    the other difference is here that PayPal
    23:18
    and stripe don’t have a fixed monthly
    23:20
    fee traditional merchant accounts do and
    23:23
    so but traditional merchant accounts are
    23:26
    typically less expensive or can be less
    23:28
    expensive than pay balance right
    23:30
    depending on the industry that you’re in
    23:32
    so 2 3 grand a month is where there’s
    23:35
    there’s that transitional point of Oh
    23:37
    traditional merchant accounts can be
    23:38
    less expensive so all in all that’s when
    23:41
    it makes sense to look at transitioning
    23:43
    I love listening I cannot stress to you
    23:47
    the importance of doing this do not put
    23:50
    this off this is one of those things
    23:52
    where you are gonna be really mad
    23:54
    yourself if you get down the road you
    23:56
    know you’re making five six seven ten
    23:58
    thousand a month and then something
    24:00
    happens or if all of a sudden you’re
    24:01
    making that kind of money you said no I
    24:02
    really want to a product launch and
    24:03
    bring an extra money you need to set
    24:06
    this up in advance and so again once you
    24:08
    cross through that $2,000 a month
    24:10
    get ahold of Brad get ahold of art you
    24:13
    know someone who can basically help you
    24:14
    set this kind of stuff up because it
    24:16
    does take time it’s not something it’s
    24:17
    going to happen in a day so make sure
    24:19
    you get this thing set up right the last
    24:21
    thing you ever want to do is jeopardize
    24:22
    your business and the biggest problem
    24:25
    for most businesses is cash flow and
    24:26
    there’s nothing worse than having a
    24:28
    merchant account hold your cash so I
    24:30
    love write what you mention it thank you
    24:32
    so much for bringing it up
    24:33
    and the other thing you want to make
    24:35
    sure people understand yeah well I do
    24:38
    want to say that one of the reasons that
    24:40
    you know clickfunnels is not actually
    24:42
    unlike a lot of platforms a lot of
    24:44
    platforms go out there and integrate -
    24:46
    like every payment provider Under the
    24:47
    Sun and there are lots of reasons not to
    24:50
    do that but one of the reasons that
    24:53
    clickfunnels integrated with easy pay
    24:55
    direct specifically in our gateway is we
    24:57
    are connected to basically every
    25:00
    merchant account provider out there so
    25:02
    when you set up the EZ pay to write
    25:03
    gateway you can plug in your own
    25:05
    merchant accounts as well so the people
    25:07
    that you have using the platform that
    25:10
    already are doing volume already have a
    25:12
    merchant account or a couple now you can
    25:14
    connect through the EZ pay the write
    25:16
    gateway and load your stuff in that way
    25:18
    which is very cool and we’re happy to
    25:19
    help with that as well yeah so glad you
    25:21
    brought that up because I understand
    25:23
    running all the business development for
    25:25
    cliff phones I get requests all the time
    25:27
    for new integrations and one of the
    25:29
    things probably most recently has been
    25:31
    integrations for additional payment
    25:33
    gateways and if you don’t mind could you
    25:35
    kind of clarify what the difference is
    25:36
    between a payment gateway and a merchant
    25:38
    account I know this is kind of getting
    25:39
    techie but no I’m so glad you said that
    25:41
    sure people understand there’s a
    25:43
    difference here when we talk about this
    25:44
    kind of stuff totally so here’s the easy
    25:47
    way to think about it if you are in a
    25:49
    physical store like let’s say you’re in
    25:51
    a Walmart you will take a physical
    25:53
    shopping cart up to a physical credit
    25:56
    card terminal and that credit card
    25:58
    terminal will then connect to Walmart’s
    26:00
    merchant account so you’ve got physical
    26:02
    shopping cart credit card terminal
    26:04
    merchant account online you have an
    26:07
    electronic shopping cart right so same
    26:10
    concept electronic shopping cart but
    26:12
    instead of a terminal you have a gateway
    26:14
    in that gateway then connects to the
    26:16
    merchant account so the gateway is the
    26:19
    same thing it serves the same purpose as
    26:21
    a credit card terminal in a store just
    26:23
    for
    26:24
    line commerce thank you so much cuz I
    26:27
    get asked all the time Sarge oh well
    26:29
    I’ve got a merchant account but I can’t
    26:31
    integrate with the click folks and the
    26:33
    reason is because you have to have a
    26:34
    gateway is that correct yeah and the
    26:37
    reason for that by the way is that just
    26:39
    like you’re running into it clickfunnels
    26:41
    you don’t want to build an integration
    26:43
    with a thousand different merchant
    26:45
    account providers right so if you can
    26:47
    build it with one gateway all of the
    26:49
    merchant account providers are already
    26:50
    connected to the easy to write gateway
    26:52
    as long as you’re connected to the easy
    26:54
    paid write gateway then you’re open now
    26:56
    to a thousand different merchant account
    26:57
    providers I really appreciate you
    27:00
    mentioned that again it sorry for
    27:01
    getting real techie on this guy stuff
    27:02
    but this stuff really does matter to
    27:04
    your business and as far as cliff falls
    27:06
    goes we’re always trying to provide the
    27:08
    very best services and integrations we
    27:10
    can at the same time the last thing we
    27:12
    want is a whole bunch of integrations
    27:13
    that don’t make any sense for anybody so
    27:15
    realize the idea here as far as having
    27:18
    that gateway integration it does allow
    27:19
    you access easy pay direct has been
    27:22
    fantastic to work with Brad’s been a a
    27:25
    friend now for the last couple of years
    27:27
    beating me up at conferences and
    27:28
    everything else asking when we’re gonna
    27:29
    get this thing done I’m finally happy to
    27:32
    actually announce it has been done it’s
    27:33
    there and again I really encourage you
    27:35
    guys to figure this thing out for your
    27:36
    own business spend the time this is one
    27:39
    of those things that literally can
    27:40
    throttle your business down to nothing
    27:42
    if you don’t have cash flow coming in so
    27:43
    don’t wait again get a hold of breath
    27:46
    Brad what’s the best way from reaching
    27:48
    out to you well we’ll put something up
    27:52
    at EasyPay direct com forward slash
    27:54
    click funnels podcast that’ll be an easy
    27:57
    way to find things relevant to this
    28:00
    specifically and we’ll we’ll throw
    28:01
    something up there to hook up your
    28:02
    audience you can find me online if you
    28:06
    want to follow my adventure exploits you
    28:08
    can go to Brad Weimer calm there’s
    28:09
    always some shenanigans going on there
    28:11
    but uh but yeah those are the those are
    28:13
    my two homes online I love it and again
    28:16
    we did a blog post test even wrote with
    28:19
    the help of easy pay direct steam as
    28:21
    well and I’ll make sure that that link
    28:23
    is here in the show notes as well I
    28:24
    really want to make sure that you guys
    28:26
    understand this part of your business
    28:28
    it’s not one of those things you want to
    28:29
    put off too long so
    28:31
    I’ll have the block block-post will be
    28:33
    in the show notes again that’s easy page
    28:35
    direct comm four slash clickfunnels
    28:37
    podcast and Brad I put some fun stuff up
    28:41
    there I’m sure so just like Brad’s
    28:42
    crampon story this is one of those
    28:44
    things we’re trying to tell you in
    28:45
    advance here guys the last thing you
    28:47
    want is to be on top of the mountain and
    28:49
    not be able to get down and the last
    28:51
    thing you want your business is to be in
    28:52
    a situation to where you’re sitting
    28:54
    there and all of a sudden you don’t have
    28:55
    cash coming in or things get shut down
    28:58
    at a time where you’re really trying to
    28:59
    grow your business so take the time make
    29:00
    this happen
    29:01
    Brad again any parting words go have an
    29:05
    adventure I love it
    29:07
    Brad thanks again appreciate your time
    29:09
    but I’ll talk to you soon
    29:10
    thank you thanks for listening to funnel
    29:13
    hacker radio podcast if you’d like to be
    29:14
    notified anytime we release a new
    29:16
    episode just subscribe over at Auto
    29:18
    hacker radio com in addition to that
    29:21
    we’d love to send you a free gift you
    29:23
    can find that free gift at funnel hacker
    29:25
    radio.com forward slash free trial one
    29:29
    last thing is we love giving away cars
    29:31
    so if you’d like access to a free dream
    29:34
    car all you have to do is go to funnel
    29:36
    hacker radio.com forward slash dream car
    29:38
    and you’ll get all the details thanks
    29:41
    again for listening

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