Franchises that Process Credit Cards

[Ben Hoskins]

Hey Guys, so I'm new to the Franchise market. Im a partner in an ISO/MSP. Normally we deal with non franchise companies and work with them to get a merchant account setup that will allow them to process and accept credit cards with lower rates. We have relationships with a bunch of different Acquiring banks around the US and even some offshore.

My question is, do the franchises, that allow buy ins; Are they allowed to use a different CC processor than what is setup with the company HQ?

We just got a local Golds Gym a CC processing account and he saved some money on the credit card rates, which was great, but made me think that perhaps some of the Franchises out there dont allow different processors within their brands.

Anyone have an idea about this? Thanks and let me know if you need me to elaborate on it.

[Warranties-For-Less]

Good question,

Like all businesses, each is different, just as it is with franchise companies. As one who offers Cash Reserve Funding based on merchant account volume to get foot in the door to switch their merchant banks from whoever to us, I have approaced many franchises, and very few will switch is my experience, not only because franchises usually prefer owners to use their merchant accounts, and most offer this as part of franchise, it is a tough sale to get any business to switch even if you offer lower rates. This is why we went with new funding offer as a strong incentive to switch given the economic collapse and banks saying NO to most businesses, especially ones in business for less than two years, never mind with spotless personal credit, we offer credit to almost all businesses in order to attract new merchant accounts.

Success to all,