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SPI 569: The BIG Passive Income Opportunity in Payment Processing with David and Patricia Carlin

It always amazes me when I learn about new ways people are generating income.

We’ve had several people on the show who’ve talked about interesting ways they’ve found to make a living. On today’s show, we’ll discover a new pocket of the entrepreneurial world. It’s one a lot of us are familiar with, but didn’t realize it could turn into an income stream.

I’m talking about digital payment processing. Anybody who sells anything online has to do digital payment processing, but did you know that you could become your own digital payment process broker?

Today we’re speaking with Patricia and David Carlin. Patricia’s first account with digital payment processing was back in the nineties with Star Wars. Now she and her husband David teach people how to build their own brokerage system, and it’s pretty amazing.

You can do this in a few ways. You can learn how to broker these deals yourself for your own products and build it in a way that’s favorable and saves you money over time, or you can help other businesses move from their current payment platforms, and then take advantage of the residuals that come from that.

Out of all the forms of passive income that I’ve discovered over time, this may be one of the most—if not the most—passive of them all. I’m really excited to introduce this world to you on today’s episode of the Smart Passive Income Podcast.

Today’s Guest

Patricia and David Carlin

David And Patricia Carlin have processed billions of dollars in digital payments. They’ve worked with every major brand in the e-commerce industry, and made 10’s of millions in commissions. Patricia is branded as one of the most influential people in payments, and was involved in the very first online merchant account in history! David has owned a successful retail and e-commerce business and multiple joint ventures. Together they run the premier training community for digital payments brokers.

You’ll Learn


SPI 569: The BIG Passive Income Opportunity in Payment Processing with David and Patricia Carlin

[00:00:00] Patricia:
We’re teaching people how to take the stigma out of an industry that feels a little dirty. We’re teaching people how to do it the ethical way, and to be transparent.

You don’t have to gouge people. There’s a right way to do it. I’ve been doing this since I was 18 years old and my name has been my reputation.

My entire career achievements say a lot; there is a way to be successful in this by doing it the right way.

[00:00:46] Pat:
It always amazes me when I discover new pockets of the world where people are generating an income. We’ve had several people on the show who’ve talked about interesting ways they’ve found a way to make a living.

In episode 99 we had Cliff and Jessica Larrew talking about how they would go to places like Target and Walmart, go to the clearance aisles, buy things and sell them for a lot more on Amazon. Many people have listened to that and have started doing retail arbitrage themselves.

Some of the people who have listened to the show saw their lives were changed as a result. We’ve even had a person come on and talk about how to become a notary public and to do things specifically like that, and a person in the real estate space talk about how to become the person who helps people close documents when they buy a house and getting paid for that.

Today we are discovering a new world and a new pocket of the entrepreneurial world. One a lot of us are familiar with, but didn’t know it was a thing. What I’m talking about is digital payment processing. Anybody who sells anything online has to do digital payment processing, but did you know that you could become your own digital payment process broker?

You can do this in a few ways. You can learn how to broker these deals yourself—payment processing happens through you. You don’t have to use any other processors, and you can build it in a way that’s favorable and saves you money over time.

You can do it just for your own products, but most people who are going down this route are looking to discover how to do this for other businesses; they essentially become a business consultant and help other businesses move from their current payment platforms to theirs, and also help them with other business aspects and they could become a broker who can then take advantage of the residuals that can come your way.

Out of all the forms of passive income that I’ve discovered over time, this may be one of the most, if not the most passive of them all, because once you lock in an account, they stick with you as a payment processor and you’re earning anywhere between, you know, 0.01 to one, whole percent of every single. Transaction that goes through that business. And today we’re speaking with Patricia and David Carlin, who, Patricia’s first account with digital payment processing was back in the nineties with star wars.

And now she and her husband, David teach people how to build their own. Brokerage system. And it’s pretty amazing. I mean, they do talk about a course that they have. So there is a little bit of pitching in here, but it is well worth it because many of you might go down this route and find interest in, in it.

I’m not an affiliate for their program, but I’m really excited to introduce this world to you. And as you’ll see, you know, the residuals. But there is some upfront work. It’s not necessarily for everybody, but I wanted to bring them on to help you discover that. Well, there’s this part of the world that exists too.

And this might be right up your alley as well. And it’s definitely got me thinking, especially when I love business, where everybody wins in the end, right? Like you could set up this payment processing, brokerage thing of your own, a microprocessor, if you will, and help other businesses save money, but you yourself are also getting residual income. Pretty pretty darn amazing. And we’re going to speak with David and Patricia right now. Here they are. You can find them also at

Patricia David. Welcome to Smart Passive Income. Thank you both for taking the time to be here.

[00:03:54] David and Patricia Audio:

[00:03:56] Pat:
Thank you. Yeah, we over me, man. It’s, it’s a community thing and I know you’re a part of the entrepreneurial community as well. You’re doing a lot to make many other people aware to this really cool sort of corner of a niche in the entrepreneurial space that you guys are in with relation to payment processing.

I know that’s kind of the world that you came from. David. Maybe I can start with you. Give us a little quick origin story of where that all began and we’ll kind of take.

[00:04:17] David:
Probably about 10 years ago, I was literally in the shoes of the people that we now are helping build their payments companies or whatever direction to go in which we can touch about later. Or I had my retail store, I have my e-com store and I had my payment processing set up to accept payments. And I was always focused on.

My business, not on the payment processing. Right. And I met her and I was like, what are you doing on your cell phone? I don’t understand where’s this money. It didn’t make sense to me. I’m like I have all these employees, all this overhead. I don’t care if I have a big day on Monday, it resets. I have to restart again on Tuesday and then learning about the business through my wife and getting married to her and hearing every single conversation I was like, I’m getting rid of my store.

On gaining the payments and Patricia now, you know, 23 years later has been in the industry. So even though we’re training people today and we’ll talk about, there’s three different avenues of how we train people, whether it’s a business owner who wants to switch their payment processing and take control of it.

So when he wants to add a side hustle or someone who wants to be like us and build a massive payments company, we still are building our payments companies today while we’re training.

[00:05:19] Pat:
Yeah, Patricia, what is this payment processing thing like for people who are like, okay, this sounds interesting, but what is it exactly? What are we building here specific?

[00:05:29] David:
Sure. So,

[00:05:29] Patricia:
So payment processing is basically the ability for anybody to accept credit card payments in store and online. So everybody, and it’s, it’s funny because when I started, so I started in 1998. at the time I only did e-commerce sets. I worked for one of the first, companies to do e-comm transactions.

So it was a new world. To everybody. Right. And, from there, you know, my whole focus, my whole thing was, I’ve never sold a retail account in my entire life. And it was all e-com how to do this, getting merchants set up. So Sony music, star wars, all these people that were kind of up and coming and wanting to come on the web.

That’s how I created my niche and said, all right, well, nobody really knows about this at all. So why don’t I become a payments consultant? So what I did was facilitated people, anyone who has had a website at that time, Time magazine, the first multiplayer online games and help them establish the ability to accept credit card payments.

And then from there, it rolled into everyday people. I mean, we use transactions and credit card processing every day of our life. So, it’s a business that anybody could do.

[00:06:33] Pat:
Yeah. I mean, it sounds interesting. Cause when we hear payment processing, we immediately think of things like, well there’s PayPal, right? And there’s Stripe. And back in the day, when I first started, there was and those were the tools that we use to do payment processing. But are you saying that we could become our own Stripe or PayPal or

Is that what you do?

[00:06:52] Patricia:
And in a sense you can. So before Stripe and PayPal, there’s always been, so there’s always been somebody in between a broker that facilitated you getting, for example, to, which was just a gateway. Right? So every business went through a broker who then ended up going to a bank to get set up with a merchant account.

Right. Exactly. So in order to become a Stripe or PayPal, that’s a whole other thing you have to go through, you have to basically work with ISOs. You have to work with sponsor banks and go through a whole process. We’re teaching people how to set up and become brokers. So basically having their own micropayment agency, which means you right now tomorrow could go out, take the course, take the program, and then immediately turn to anyone that you know, that has a business, including yourself, and actually board the account and make residual income off. People just didn’t realize that there’s somebody in between. That’s really what it there’s always been us around. And people just didn’t realize that they could do it too, without any

[00:07:53] David:

[00:07:54] Pat:
So I could receive residual income from becoming that broker to help somebody else accept payments with credit cards, from their fans, their community, what have you. And essentially I would be replacing. If they were to use something like a PayPal or Stripe. And how would that benefit? The, the, the, my friend who has a retail store or e-commerce store.

[00:08:16] David:
I mean, well, one thing is it doesn’t have to replace. It could be redundancy can be load balancing. Sometimes we’re like, keep PayPal and Stripe. If that’s what you like, you can do some of us. So with them, whatever you want, now, it may be a lower. It may be keeping your accounts, not getting shut down. It may be quicker funding, and maybe that you want better support and maybe different hardware.

It may be that you want a million other services outside of merchant processing. Cause we do a million other things. We do payroll lending, gift cards, assuming social media branding, marketing, the list goes on. So. We w essentially, if you have three different routes, when you come and join with digital payments, and before we even built residual payments, we were training people for years.

Unintentionally. We never really didn’t think I’d be on zoom all day long. We, you know, it just never worked like, oh, let’s create a course. I hate saying it. But, you know, for us, you can get number one, you can join our platform if you’re a business owner and you’re like, I want to, I’m going to figure out how to cut out the middleman.

Maybe you want to cut out the payback, cut out the Stripe, cut out the middle man. Take control of your payment processing and just lower your own rigs for yourself. You can come into our program, learn it, leave, be happy, and do one thing that saves the money for the rest of the time of your business.

Number two, you can come in and say, I want a side hustle in my back pocket that I can keep forever because there’s no yearly dues or licenses. So there’s just something you can do now. And re re revisit it five years from now. Or you may have a marketing company or some kind of company where you want to add this as a value add, right.

To add to your existing company, to make it more valuable, et cetera, et cetera. Or you said. I at the time, you know, I want to take the time I want to work directly with you guys. And essentially what we’re teaching you to build is not workshare Hathaway in a sense, but to build a department of Berkshire Hathaway, kind of, if that makes sense, where like people can lay those deals.

So then we show you how to set up the relationships, how the whole process works from start to finish. And we go after the easy accounts in the beginning for you. And then we work our way up with X, Y, and Z. And every time you land in. You get paid for life? The account, all this account is what? 15 years old, 15 years old.

[00:10:24] Pat:
Well, you’re kind of locked in, right? Once you got payments down, it’s like you kind of, why would you change after you got something that works? Right. So that’s.

[00:10:30] Patricia:
So, I mean, it does change because then people will say, well, then everyone’s locked in what happens in our businesses. There’s a lot of people who just want to, it is kind of a set it and forget it in a way. Right. But at the end of the day, you still have to make sure that you are going back to the merchant saying, is there anything you need?

Is there anything I could help you with? If you notice that. If you notice that they’re really not communicating with you a lot, or you want to talk about growth plans, like anything, I mean, you know, sales, right? You’ve, you’ve learned it now through your business and everything you’ve done. You still have to have that, that touch point where you come in and try to do value, add for them.

And at the same time, keep the communication open. And yeah, I mean, I could say that it has been, for me, at least it’s a rarity that I’ve, I’ve ever lost a merchant, unless they’ve gotten acquired by somebody that already had a locked in processor they had to use. And that’s really where we’re teaching people.

How to take the stigma out of an industry that has like a little bit of the, the used car. So I don’t want to say used car salesman, but it’s kind of thing, right? That’s kind of like when people get off, you kind of feel a little dirty and instead we’re teaching them how to do it, the ethical way be transparent.

You don’t have to gouge people. There’s a right way to do it. And the fact that for me, I’ve been doing this since I was 18 years old and my name has been my reputation. My entire career says a lot that, that there is a way to be successful in this, by doing it the right way.

[00:11:48] Pat:
Yeah, it’s interesting. I had never even considered this as a potential opportunity to generate passive income, but actually when you look at. It is likely one of the most passive ways of generating an income. It’s going to be a lot of hard work upfront. And I do want to talk a little bit about what’s required and who this is for who this isn’t for that kind of thing.

But, you know, once on the show, before we had a person talk about the success that they had with an online course, that they had teaching people, they taught people how to become essentially like notary publics, essentially, in, in the real estate space and signed paperwork. And that person who came off.

Several listeners were like, that’s what I want to do. And they actually made a career out of it and some of them made a side hustle and it was like a part of the world. I didn’t even know existed that you could have be like your income source. And this seems to be even more opportunistic. but I think you’re right.

There is a little bit of, Hey, this is kind of potentially an icky sort of space. You know, there’s a lot of that. I remember feeling something similar with. You know, I don’t know if it was Paychex or another one, but it was like a payment payroll processing system. Like they just started calling everybody and asking them to move to theirs.

And it just felt very sales-y and whatnot. It seems like you’re just trying to, you know, open up the possibility of this being, you know, authentic and being great and, and helping people through this. You want to do it well. So if I wanted to do that, Like run me through the steps. If I wanted to make this like a side thing, I don’t want to maybe make it, like, I don’t want to build a Berkshire, but maybe one day, but if I just wanted to get started with this, what might it look like?

And also like, get me excited. How much could I potentially make doing something like this?

[00:13:21] David:
So the thing is, that’s why you like, send, like you were saying, I it’s kind of that feeling of all the other people, not everybody there’s lack of people on payments handle never listens to this. But, you know, people who work at payments companies, they have to hit quotas. Right. They get their bonuses. So they don’t give a crap about you.

They land your account. They’re onto another one.

So this program it’s never been done before, we built the world’s largest trading program to make residual income off of credit cards. Like, do you sell me all are programs out there? This is the only one in the largest really, out there. And it’s different because it’s people like you where you’re going to talk to your friends, you’re going to talk to somebody, you know, so you already have that release.

Kind of built out, right? So you’re not like a Salesforce, you’re going to be seeing your friend. So for you, what we tell everybody is even, even my best man, my best friend at my wedding, he was excited when he landed his first account. He was excited when they started processing it wasn’t until the money in his bank account.

And we called me, he’s like, Dave, this is real. And I was like, I don’t know if I should be insulted and I want you to be happy for you coming in.

[00:14:24] Pat:
Just wasn’t sure.

[00:14:25] David:
I know it was real it’s just until I see. So I always tell everybody, listen, let’s get rid of a cell phone bill, right? Let’s start out with a cell phone bill, then a car bill, then a house built in an X, Y, and Z.

We don’t need overnight millionaires. I need you to see this actually works. So a month later, you’re not like I’m going to go to an Amazon store. And I’m like, okay, when you do call me, I’ll set up a merchant account for you and you can get to work. Right. So that’s where.

Yeah, let me say this before. I really dive into your question.

So open up a restaurant, they maybe they, maybe they work at a restaurant for five years to learn everything there is about how to run a successful restaurant. Five years later, they’ve either saved up every single dollar or they’ve taken out a loan. They opened up their dream restaurant. You now will have the capability.

To knock on their door and say, hello, X, Y, and Z. I’m here to make a percentage off of all your hard, worst risk. Excuse me, all of the money you put out. If they go under you try to help them, but you won’t lose everything. You just land another account. If they double your, their sales, you double your income.

If they open more locations, you make more money. So for you. We essentially break you down because every single person is completely different. Some people want to build the team. Some people only want to work online. So we want to work offline. Some people want to do not have a website everyone’s completely different on what type of business they want.

Laughter. So we would be like that, you know, who do you know. What type of businesses do they operate in? And here’s what you only need to know for right now. There’s a million things that you could learn. So once you set up your incorporation, your business bank account, you could essentially land your first account in one week’s time, and we help you with the whole entire process.

Talking with your friend on the phone, doing the applications, how inhaling support, pretty much doing all the heavy lifting for you in the beginning.

So that essentially you’re learning while you’re there, you’re on the call with us. You’re watching us then the application you’re watching the whole entire process.

So you’re learning as you go. We’re not just saying here’s the information you go figure out, work ourselves. And our team are there with you every step of the way, because we have a vested interest for you to be 16.

[00:16:29] Pat:
So let’s say I’m a part of the program and I’m going to go get my first account. What does that look like? What does that even mean? What am I collecting from my buddy? Who. has payment processing and I know that it would benefit him to work with me, but what am I asking exactly? What’s that conversation?

[00:16:47] Patricia:
You’re going to typically be asking. Number one is the first thing you have to do for retail is figure out what software that they’re using. So you’d look at, like, if you go into your friend’s bagel shop right now, right. You’ll look and you’ll see if they use a software, what kind of software it is, what kind of point of sale and you know, that kind of the system where they put it in.

I always forget that we have to break it down in layman’s terms, but you know, the little white machine that takes credit cards.

[00:17:08] Pat:
Square is one of them I think squares.

[00:17:10] Patricia:
Squared. So square would be a competitor, which we’re very competitive on pricing. They’d always be able to be off pricing against square because square really is more. Mom and pop type of company that just wants to get set up very quick.

At the end of the day, the rates are pretty high compared to what they, they could be at. And then the second thing that they get is a merchant statement. So, if their friend let’s say your friend says, I don’t really feel comfortable sending to, you know, sending it to. That’s fine. You could go ahead and send it into our team, which is then our back office.

And once we get that, we do a cost savings analysis, and then we schedule basically they’ll schedule, what’s called a deal call and our team. And that that’s really, what’s important about it is that this is hands-on training. We’re not doing your calls for anybody. We’re not doing these things like as, as if it’s an automated system, we’re doing it so that you’re, you’re going to learn.

You’re going to hear it and go, oh, that totally makes sense. When the person comes on the. We do exactly what we do every day, because we’re still in payments. We get on, we tell them what values they’re going to get. If they’re we ask them what kind of funding they have, a lot of people have two or three days funding.

We put them to next day funding, or even sometimes same day funding. And just really kind of look at what, what they’re going to be gaining by working with us. And then if the person says, yes, they like the savings, then we also work with, let’s say, it’s just you. As an example, we would show you the whole process of getting the paperwork out to them, the merchant account applications, and then get them up.

It’s not complicated. Like, it seems complicated, but it’s a very

[00:18:39] David:
Easy process. Let me recap, four 40 presented if you don’t mind. So I want you, other people are like, you can do our program in a day. I don’t want you, if you do our program in a day, then you didn’t read or watch the material and you went way too fast.

Right. We’re building a company here or even just building a side, a side business for you that can make you a lot of money. So we want to make sure we’re doing it right. So honestly, like I’d want you to. Like taking two weeks to just digest and understand that. Right. I don’t mean you do eight hours a day reading and watching.

I just need you to like, watch a video to read, read a PDF or to join a call or two, and then be like, okay, now I understand. Okay. Now I got my direction of where you didn’t just start a podcast and just grab a Microsoft. Okay, who am I going to Target? Where am I going to go after? So after you figure out where you’re going to Target, like we said, what hardware software getting one month fostering statement, we show you where to send it into.

We show you how you get that back. We show you how to present that to your client. We show you how to set up that call. We show you the steps of how we join you on the call. And then if you’re like, yeah, great. I want to move forward. We show you what the next step is us sending the application with. With a video recording and then how, when your merchants approved what that next step is.

So we’re kind of taking it step by step. We don’t overwhelm you so that you’re learning, you know, the process and not just be like, here’s everything. Figure it out. We’re there with you when you need to learn there certain things as you progress your things.

[00:20:06] Pat:
Gotcha. So the merchant statement that I get from my buddy, who I’m trying to work. We’ll tell us how much he’s processing and all the fees and all that stuff that he normally offers. Right. And then I can send that over to a company like yours to go, Hey, well, they can work with us and save this much money.

Right? So in the end, they’re actually going to be saving money and the numbers would kind of speak for itself, which is I, that my favorite way of marketing something is to remove all the sinus by just going look how obvious this is to work with us.

[00:20:37] David:
I mean, it’s, it’s as simple as this and no, no. They’re amazing. Russell Brunson and ClickFunnels team right there. They built an absolute empire. But if you, if you were to tell your buddy, Hey, you should use click falls, not use a website. Let me, let me do it, teach you about it. Right. First you have to teach them how to build a funnel.

Then they have to take money, put the marketing behind it, and then they have to actually wait for the sales to come in. Right? It’s a whole entire process you have to keep doing. If you were telling your friend, Hey, listen, I don’t know if you sweat. If you want to switch, if you don’t, this can literally take you one hour right of your time to get me a statement and jump on a call that one hour of your time with no.

With no upfront, all from money with in one hour could potentially put money back in your business every single month for the next 10 years after we do something for one hour, that’s where it’s like what else could you ever offer somebody

[00:21:27] Pat:
Exactly. I mean, there’s really no sale required. Once they see all that right in front of them, what changes for them? They work. They, they, they now are using the payment processing program that I have. Now, what changes for my friend in his bakery? Or what, or what have you, are they using a different software now?

Like what’s different for.

[00:21:45] David:
It all depends. We might integrate, they might keep everything in their half. So that’s a good one. We show you and we guide you through that. So eventually, you know, the names like you’ll know the specific names, not to go after you’ll know if your friend has square, Hey, ask them what they like about square.

So we can gather information to present a different product. Do you ask your friend? Hey, you’re using square. I can’t integrate. Would you be open to switching? If I could save you money? No, I’ll never leave. Gladys now I know this is not a deal. I don’t want to waste my time. So eventually that’s where you learn what to go after and what not to go after, but like for your friends, websites or what have you, it just sends you like switching from one wifi network to another one on the front facing like a PLS like Jesse was talking about or a website.

You don’t notice that you switched, it’s all done in the.

[00:22:30] Pat:
Gotcha. Now to my other question, let’s say I do this for a couple of my friends per month, for example, just, I only have a couple of extra hours on the weekends and that’s when we meet up and then I might, you know, change a couple of their merchant accounts to my own. what does that do for me? Like what are the, what are the numbers as far as like what residuals come back into my pocket from the sales that they’re making now, because.

Money’s got to come from somewhere. Right. And before, when they were making these payments through these other processors money was going to that processor, right? Like the fee, the credit card fee that goes on top of the payment. Right? That’s the money we’re talking about now. You’re are you saying that that percentage extra, that usually comes with the transaction anyway, will now come into my.

[00:23:12] Patricia:
Correct. So basically it’s, it’s a little bit, there’s a few more players in it than that, but what happens is the majority it’s, it’s called independent sales organizations. That’s what an ICO is that an ISO is. Is where that an ICER was a square, right? So square is an ISO PayPal. So there are many, many, many other ISOs that are out there who basically have sponsorships would be send MasterCard.

Right? So a bank, a community bank, for example, you’re not going to be able to walk in there and get an merchant account most of the time. It’s because they contract out with other ISOs. The majority of ISOs build their entire businesses and their portfolios from, from brokers. Just so you know that a lot of ISOs will have a small inside sales team and maybe some, a few corporate executives in there that do more of like the big, complicated RFPs and stuff.

But the majority of ICE’s depend on agents and brokers to bring them the deals. So the way that the cash flow works is that the ISO gets paid their money. So let’s say, let’s say broker a, we broker it. Right. We have a main master agreement with 20 of them because of the 20 years in payments. Right. We decide where that’s going to go.

So let’s say it’s a CBD merchant. Well, a CBD merchant is going to go with a specific ISO. When that merchant processes a transaction, the ISO pays out the residuals, which could be anywhere between. 25 basis points to 2% of the extra. Basically you get paid out

[00:24:40] David:
And then, yeah, we’ll tell him there’s a hundred piece of sports.

You can make point 0.1 to 1%. It just depends on how we place them and how long you want,

[00:24:49] Patricia:
What type of account it is, what type of business, if it’s a higher risk account, like a mid risk account, let’s say a direct selling company, or like I said, CBD or something like that. Those types of accounts are coaching programs.

Those type of accounts are priced higher than obviously a mom and pop shop in a restaurant. And then you get paid on a monthly basis. The person who brought the deal gets paid. A portion of that business. So it’s all over the board. You could get paid $50 on an account every single month though. So think about, I mean, it’s forever, as long as they stay with you and you’re servicing them $50 adds up and you could get paid $20,000 a month on an account.

Right. So I have accounts where like Dave was talking about for the last 14, 15 years. At one point it was $60,000 a month because it was a very, very high volume MLM account. So you’re just getting it, you know, obviously now after all these years, it could be between five and 10,000 a month, but that’s a substantial

[00:25:45] David:
Amount of money.

Yeah. So, you know, you know, on a a hundred dollars sale, you can make 10 cents. You can make a dollar. It depends. But what I will tell you is. After you understand how the pricing models work. Right. And that’s what we’re there with you to make sure you’re not doing the wrong pricing. Like, why didn’t it make money?

Like we’re making sure we’re doing all the pricing for you. You’re understanding what the pricing looks like. As you’re getting started, you will have somewhere where you’ll be able to export your residual. And export all of your clients. So you’re not messaging me like Dave, what am I making? I’m be like, Pat, go log in and go look at all.

It gets, you, gets your clients and it, nothing to do with me. It’s your company, right? You’re not working for me. You’re just working alongside of us. So eventually you’ll start to figure out, okay, that’s where I can make all this. This is why I can make all this. When we’re on the call with you before and after, or the iPad, Dan, blah, blah, blah, wants to move forward.

Each price that this will get the absent. Depending on what cards you takes and how much volume they do. This is probably what you’ll make amongst. So you’ll kind of know in the back of your mind, essentially what you’re going to make now, residual payments is like a Costco model. Myself included with you and the thousands of other people there in cyber digital payments.

And this is a worldwide thing. eventually Robin up candida later this year, right now, it’s just the U S

[00:27:01] Pat:

[00:27:01] David:
Where we’re all working together, right. Simultaneously go into some of the similar banks, similar payments companies, similar terminal providers. This allows us to work in power. To get exclusivity and lower rates of all of us combined.

So that’s really what the main, main, main, main goal is. If you join a thousand, other people joined and you’re all like, I like mindset. I’ll give you a mindset. We do that. But if no one was closing deals, this would not work. I’d be like, this would cause wouldn’t give us all these exclusive partnerships.

So this is strictly as much as we want to help people with their mindset and everything else. We do. You know, you, better go close accounts because we were dependent on you to be successful as well. Because as a whole, we keep waiting and keep getting lower rates because we’re having a lot of accounts.

[00:27:46] Pat:
Gotcha. What do I have to look out for?

If I were to get into this space, is there any pitfalls or things to worry about? Like, you know, sometimes with regards to credit card payments and such things default, or there are charge backs and any of those kinds of things, like how does that affect me as somebody who’s the merchant in, in all of this

[00:28:04] Patricia:
So if you’re the, if you’re the merchant it’s different, right. But as you, as let’s say a broker coming in,

[00:28:10] Pat:
Broker? Excuse me.

[00:28:11] Patricia:
Yet, you don’t hold my ability. Right. Unless you’re doing, let me put a caveat in there. We, the reason we’re really here is, is I’ve been fortunate enough that I’ve worked in every facet of the industry.

Right? So on the risk side, building ISOs, scaling ISOs, every part of it. So I know in our teams know what to look out for. So sometimes there’s, there’s inexperienced agents and there’s predators just like in any other. That inexperience. So there is a lot of fraud in the industry on the other side. So all of a sudden, and I’ll just use this one, recently last week.

Yeah, last, last week that just happened. one of the brokers got an application for. Right. The chiropractor comes in. I mean, it’s a chiropractor, low risk that should be approved. He’s a doctor, right? No problem.

When we looked at the paperwork and a lot of times we’ll do frontline underwriting, just because of, obviously my skillset that’s been in the payments, we’ll look at it.

And I noticed something that was odd about it. It was the person’s name, the LLC, and then another agent who wasn’t part of our fleet in a different state. Got the same. Right with the same information for the chiropractor. Another chiropractor comes in three days later. What are the odds? Two chiropractors, right at the same time.

Yeah. And I looked at their driver’s licenses. Both were five eight, both born in nineteen sixty three, two different states, two different chiropractor, same LLC format. I’m like, this is weird, right?

An inexperienced agent would go ahead and submit that package to whichever process or ISO that they’re working with and not being two things about it, right.

That broker you let’s say would not hold liability for it. If the ISO ended up putting them live, however, it hurts your credibility with the ISOs of being inexperienced. So. I would say that a lot of the stuff that you have to look out for has already been, we’ve already gone through those. We already know what’s there.

So we’re like the blocker where we’re blocking from you having to

[00:30:04] David:
Learn the heart. It’s kind of like, essentially, like let’s just use the podcast example. Right, right. Before we jumped on, I was like, well, can we use them? Like, I looked like crap. I’m like, you know, what do you like? Well, I’ll tell you afterwards, essentially what we’re doing.

Is imagine if I came to you, Ellen, listen, Hey, I want to hire you for the next, let’s say six months to show me what to do. What should I get in the beginning? So I don’t buy the wrong things and waste time or money. And then show me how to, how do I build out the infrastructure? How do I go and find the audience?

How do I engage with that audience? And how do I keep rinsing, repeating? I need you there every step of the way. That’s essentially what we’re doing for you, because we’ve already been their heads against a million different walls where you could, you don’t have to anymore. Dave

[00:30:43] Patricia:
Morrison than me.

[00:30:47] Pat:
What else do I have to look out for? I mean, this, it sounds like an amazing opportunity for a certain kind of person. Like, do you have to be a really good salesman or saleswoman to be able to do this? How would you recommend, the audience, like, understand that this is really.

[00:31:02] David:
You just have to be, you have to be a type of person that. You know, the people who fail the BBU fail. It’s probably been, I’m always here to talk about success, right. But the people who fail, who come in

Are like, I’m going after a Walmart. Like, Ooh, well, good luck. Cause that’s not going to happen. Right. Or they’re like, or I’m like, Hey, don’t go after he has pumps because they’re usually controlled by first data or the gas companies can go after and don’t go after businesses where they’re not business owners.

We built our entire misses, not the whole thing, but relationships and partnerships. We have so many partnerships with CPAs, web developers, marketing companies that refer deals over to us where we split our commission with them, for them referring it. So we believe more in building relationships rather than cold calling, buying leads.

We show you all the steps that add up organically, create the at sales process. So. If you’re not a person that’s going to block what we tell you to do. If you’re not the type of person where it’s like, ah, you know, you think you have your own process, you’re going to do something that’s exact opposite would teach you.

You’re going to have a hard time, but I don’t care if you’re richer, whore, smarter, whatever it is. If you come to our program and you listen to what we want, want you to do, we’re teaching what we do every single day, what works. And what’s great about our program is you are hearing from us, of course, but you’re going to be around thousands of other people.

We are building their payments companies. And we have weekly calls where everyone joined, which is actually a really beautiful thing in ourselves included. We all join each other on calls and talk about what’s working and what’s not working. All of these people competing against. Helping each other, which is kind of one of the coolest things, because it’s great to hear from us, but to hear from somebody who was in your shoes a week ago, three months ago, six months ago, and they’re like, Hey, I did this, this worked, this didn’t work.

That’s what really helps you, you know, kinda elevate your sales process. So essentially imagine joining a thousand other podcasters, and everyone’s just talking about what’s working and what’s not work openly.

[00:32:56] Patricia:
And I think that something to add. I think that for me when we started the course, I mean, he’ll know when we started the program, I was like, well, you know, I don’t know, because I just, when you’re ingrained in it for so many years, right?

It’s like your background with architecture, you know, you imagine teaching somebody about architecture now, what you do, right. So you teach the pitfalls of it. And a person like, I don’t know, is every everyone going to be able to grasp it. And I can tell you that it’s been a learning experience for me as well.

People who I never would’ve thought in a million years would be able to get accounts. My whole perspective has changed on it because it’s actually better than we built these people from the ground up, teaching them the right things. They have access to businesses that I walk into a business. And I’ll just use the example of the truck driver.

The 50 something year old truck driver now in a million years, did I think I’m like, it’s great that I see. I believe I’m also a person that believes in learning. I think it’s great to have a skillset that you never know. You’re going to be able to use. It’s one that could, you could have in 10 years from now, you don’t have to do it every day.

So I don’t care if people are learning just for the education of it. If they have it, they need to learn it’s the bloodline to somebody’s business. Right? So. when all of a sudden this truck driver was able to have conversations with the roadside motels that they had been going to for 18 years and get a merchant statement.

I couldn’t have walked into that roadside motel in Kansas or Nebraska and been like, Hey, so I just happened to pop in and would love to be able to get a merchant statement for it. They’d be like, who are you? You know, instead they trusted this person who’s been comfortable there on their Truckstop routine years.

So who could really do it? I think payments, and this is coming from me and because I’ve seen it. There is not a person. We have every type of person. There’s not a person that can’t do it because this is not, I believe there is a certain age and a certain roadblock to somebody saying, Hey, do you want to get into crypto training?

You know, who’s never really spent online time. Online is not going to really know how to be successful a person. I remember that bakery. You went to remember that restaurant you went to and you swiped your credit card. You can doing it your whole entire life. They go, yeah. Okay. You’re going to be the person now that helps them get better rates and you’re going to do, they’re like, okay, it’s this, there’s no fluff about it.

This is the reality. It’s a business that exists. It’s existed forever. Now you just get a chance to be part of it without having to get recruited by a company or learning from a friend, which is how I

[00:35:18] David:
Got it.

[00:35:19] Pat:
Yeah, you can, you can kind of do this independently, which is really cool. And you give me an honest look at, in terms of upkeep. So you have maybe a few accounts, how much upkeep is required. You know, there’s no such thing as a hundred percent passive income, but tell me a little bit about what is required to maintain those accounts and maintain your sanity while doing all the.

[00:35:38] David:
I mean, some of our accounts, we haven’t probably talked to New Year’s, but that’s cause they they’re, they, they, they need us to know, they know where to find us. Right. now the partners that you will have, you and everybody else who’s listening, the payment partners will provide. Pretty much 99% of the support for your merchants.

So as long as which we show you, make sure they get these contact numbers, make sure they get these contact emails. That’s where they go. If they need anything, they have to tell them. But I believe in like following up with our merchants, like every couple months. Hey, it’s Dave here.

Just want to anything you ever need because what we do. After we show you how to save that business owner money or sustain their profit, whatever it is for the payment processing. It’s kind of easiest part. I then pivot and go. Let’s talk about your business, right? We just put money back in your business.

We want to go on vacation or do we want to take that $6,000 for saving year and turned into 20? Well, I’d like to turn into 24. Okay. Well, we got six grand to play with. Do you want to, do you want to help with your marketing, your branding, your social media, your payroll, automation. Let’s talk. Let’s just brainstorm.

So, so we teach people how to come in and as business consultants. So they’re not a one trick pony selling one ancillary service. So when you make yourself invaluable, that’s when your merchant stay with you.

[00:36:50] Pat:

[00:36:51] David:
So that’s where it’s kind of like a million different offerings.

[00:36:55] Pat:

I like that idea of not just thinking about this as, Hey, I’m somebody who’s going to come in and sell payment processing to these people, but rather I’m going to come in and help these businesses save money and help them market better and help them ultimately have a better time running their business.

Almost like a consultant of sorts where by the lowest hanging fruit would be the payment processing sort of change.

[00:37:16] Patricia:
I spoke in the wheel. That’s what It is. Really. If you think about it, the payments piece is truly just a spoke in the wheel that helps it go. But at the end of the day, it’s all the other services. Eric is an example of somebody that we taught payments to now as part of the PR the Ashley is part of source, a lot of people, Eric went from his first gun store in North Carolina, right.

It was a local gun store. He ended up getting him a merchant. Eric then said, all right, the guy said, well, would you like to work? The gun show with me? Eric used to say is like, I don’t want to go work a gunshot, get away. You know, he was, yes. He has a bunch of kids and I have these having four kids, nine to three kids, and I could go work on shows.

Eric went to go help the guy with the gun show, running dis transactions, where I’m helping them, the number of accounts he has now and in the entire network. And the funny thing is those people just don’t own the own gun stores. All of a sudden it’s like, oh, Hey, by the way, we also need processing for our two restaurants, Herrick.

We need probably for this. It’s about building the relationship. And then he just went back in there and said, Hey guys, what do you think about, do you need some help with your, and I’ll use you as an example, right? A podcast, right? A lot of these businesses are realizing they need to get their voice out there and you don’t have to be Pat and Dave or Pat to have a podcast.

What if you have a gun show and you’re going in there and doing a podcast on the event on this and all this stuff. So having these value ads, it’s not about just going out and trying to. To, to sell things to people. I want to make myself and I’ve always done that. And this is the best advice. I always give people in any business.

I want to become your left arm that you need without that arm. You’re, you’re going to be able to work, but you’re going to have a harder time

[00:38:55] David:
Doing it, a mess on there. Yeah. And we have a very vested interest for you to be successful. I always tell people like, well, why are you being so nice? And they’re like, why are you going to check with like people in stock risk?

If I can double your sales, can I make more money? And they’re like, yeah. I’m like, well, I want to make sure that you love me. And the more you do the more I make. So I buried the vested to make sure you’re successful. And the interesting thing about this, let’s think about this. Let’s think about conferences speaking, engagements or podcasts, right?

You do a podcast. Let’s just use podcasts. You do a podcast and maybe you go on here and you’re like, and I’m magic bar soaps, go get them at here’s my affiliate link. Right. And. You know, some people could call that passive cause linked to, you know, to, to that episode. But you kind of have to be reliant on those one-time payments to people going back to that episode and then buying the product.

It’s a whole thing. Imagine speaking on stages, being on a podcast and you know, maybe there’s business owners listening, and then you have some kind of plot where you’re like, Hey, if you need to have a proxy and go to my partners here, who’ve partnered with our pockets, blah, blah, blah. And one podcast episode could pay you for the next 10 years, every single month.

Like, that’s kind of, I don’t want to hurt it. I don’t know what else really. I, you could feel good at night, but you’re not, you’re not like come to my downline or whatever.

[00:40:16] Patricia:
Yeah. Cause it’s, I mean, it’s not an MLM, it’s not anything. Right. It’s it’s it is literally similar to. Oh, you’re facilitating

[00:40:26] David:

If you’re going to, if you’re going to be an entrepreneur, you own a business, you need to take the scores just so you need to know how you can switch over your own business. So if you’re like, oh, in two years, I’ll plan on opening up my own business. We’ll prepare now. And then while you’re bearing, if you join, if you’re like, Ooh, I want more, okay.

We got different avenues for you, but if you’re like, Hey, this is not for me. I’m here to switch my account or I just got enough that I need it right now. See you. Do that, then that’s where it’s kind of great where we’re like, we’re no crusher about like, you know, color over here for the thought leadership or whatever.

Any of those words are, that’s not, you know, this is all about closing deals and building company.

[00:41:03] Pat:
Well, David and Patricia, where can people go to check out the course in which you have to offer? Now curious and want to learn more and see if this is perhaps the right fit for them.

[00:41:13] David:
Was it because of the timer in the back. And I was good.

[00:41:14] Pat:
No, it actually worked out perfectly though.

[00:41:17] David:
My board is amazing. Please sponsor us. You could go to residual payments anywhere, look up residual payments,, Facebook group Instagram we’re on TikTok recently. Meet, meet the Carlins on Instagram. Meet the Carlins David Patricia Carlin, but

[00:41:43] Pat:
Okay. We’ll pop all the links to the show notes and stuff for ya, but, oh, thank you. I appreciate that. thank you both for coming on and, introducing us to this different part of the entrepreneurial world that has definitely some opportunities that may be of use to those who are listening.

So thank you both good luck and, you know, hope to hope to send to people.

Right. I hope you enjoyed that conversation with David and Patricia from residual You can check out everything they have to offer there. You can also check out the show notes and links to all their things Again,

I always get excited when I’m introduced to different parts of the world like this, where there are people who are building their own thing in a space that I didn’t even know there was a space where you could build your own thing. It’s just pretty amazing.

Hopefully I was able to ask a lot of the questions that perhaps you had along the way. Again, you can check out their course and other things at

Thank you, again, to Patricia and David, and good luck to you. Thank you for helping in the way that you know how to help. Again, there’s another part of the entrepreneurial space that I didn’t know exists, and we always have episodes like this.

In fact, if you haven’t subscribed to the show yet, make sure you hit that subscribe button on your podcast player right now so you can get these episodes coming your way. I also have a Friday episode coming up very soon, for you, to talk a little bit more about this, and some other teachings along the way. We have some amazing guests coming here as we are approaching summer in 2022, which is pretty amazing.

So, whether you’re listening to this the moment it comes out or in the future, thank you so much for your support. I appreciate you. I look forward to reading your reviews and servicing you in the next episodes which are coming out very soon.

Make sure you hit subscribe, and I’ll see you in the next one.

Cheers, peace out, and as always, Team Flynn for the win.

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