“Delivering this new buy rate schedule unquestionably puts the power in our partners’ hands and allows them to decide how to price each deal.”
New York, NY (PRWEB) October 25, 2012
Paramount Merchant Funding, a New York based company, has introduced their new Buy Rate Plan for independent sales partners. This new pricing schedule creates a higher level of transparency attracting ISO’s by providing them a more lucrative margin - with up to a 20% increase in commission potential. The increase in commissions is predicated on a sales agent’s ability to upsell at the maximum allowable rate. Paramount carefully analyzed their portfolio, listening to what their partners expressed they truly appreciated the most from their previous programs. “It was clear we were prepared to change our pricing model to better establish a base rate for all of our different programs,” stated Dan Smith, Managing Partner at Paramount. He then added, “Delivering this new buy rate schedule unquestionably puts the power in our partners’ hands and allows them to decide how to price each deal.” In the program, proprietary transaction reporting technology, in combination with underwriter review, properly scores the risk for each application and determines the appropriate program for the needs of each unique applicant. This risk based scoring model enables Paramount to offer terms of up to 15 months, exceeding industry standards of 6-8 months.
Another attractive feature of this program is how seamlessly Paramount’s partners can compare and determine which plan best suits their needs and the needs of their merchants. A buy rate calculator is now available on Paramount’s online portal, Transaction Reporting System (TRS). This tool allows ISO's to easily adjust their pricing ultimately giving them a competitive edge grounded in faster and more effective transaction funding. Paramount’s TRS is gaining considerable traction with partners nationwide due to these unique functional and reporting capabilities.
Paramount Merchant Funding and its affiliate companies have delivered working capital in the form of merchant advances and traditional small business loans to businesses in all 50 states, ranging from $5,000 to $500,000. With a growing staff poised to surpass 50 employees by early 2013, Paramount is an industry leader in providing small businesses the working capital they need to become market leaders.
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