Compensation Plan with Ignite Payments Products

Transcription

1 Compensation Plan with Ignite Payments Products The MarketPlaceUSA has contractual opening residual 60/40 split rate with Ignite Payments for the first 24 months. The 60 percent retained by MarketPlaceUSA will be divided between Owner Agencies, Sales Consultants and Referral Partners less administrative support and operational fees in accordance with agreed negotiate the terms. Monthly Gross Processing Revenue Percentage Slip TMPU and Agents 0-20,000 60/40 Assisted 50/50 Non-Assisted 20,001-30,000 40/60 30,001-70,000 40/60 70, ,000 40/60 100, ,000 negotiable 130, ,000 negotiable 330, ,000 negotiable 670,001-1,330,000 negotiable 1,330,001+ negotiable After the initial two year period is over, the revenue share will be determined based on the Premier Schedule below. (Ignite Payment may change these terms) Monthly Gross Processing Revenue Percentage 0-20,000 40% 20,001-30,000 45% 30,001-70,000 50% 70, ,000 55% 100, ,000 60% 130, ,000 65% 330, ,000 70% 670,001-1,330,000 75% 1,330, % Gross Processing Revenue (GPR) means all income collected on Open Accounts, excluding those for which Ignite Payments has purchased the Residual rights, minus: Card Brand dues and assessments; Buy Rates; Refunds caused by processing errors or the gross negligence or willful misconduct of Agent or Agent Personnel; and Merchant Losses caused by gross negligence or willful misconduct of Agent or Agent Personnel. Gross Processing Revenue Address Verification Services (AVS) Fee Auth Fee for Visa Mastercard and Discover Voice Authorization Fee Batch Closure Fee Gift Card Program Transaction Fee Chargeback Fee Revenue Share

2 Discount Fees-mid-qualified Discount Fees-non-qualified Discount Fees- qualified Discover Card processing JCB Fees Monthly Access Fee for JCB Monthly Account Fee Monthly Merchant Club (CMC) Fees Monthly Customer Service Fee Minimum Processing Fee Monthly Statement Fee Debit/ATM Trans Fee Debit Card Monthly Fee (after six months, as stipulated by the Ignite Payments Merchant Application and Agreement EBT Fees Diners Club processing residual Non-Receipt or PCI Validation Fee Early Cancellation Fees Checking Account Change, ACH Reject and Account Closure Fee Statement SpendTrend Fee Insightic Monthly Subcription Fee TransArmor Solution Fee Compliance Service Fee First Data Mobile Pay Monthly User Fee and Setup Fee American Express Program Discount Rate American Express Auth Free Bonus Commissions are an Upfront Program which provides a base commission for multi-year agreements with at least $2000 in monthly bankcard processing volume, and bonus commission for signing high-volume accounts. It also can add a 50% premium for Clover Solution sales. NON CLOVER Bonus Commission Per Eligible Merchant Account CLOVER STATION Bonus Commission Per Eligible Merchant Account Monthly Bankcard Processing Volume Over 2000 $100 $150 $10,000-19,999 $200 $300 $20,000-29,999 $250 $375 $30,000-39,999 $300 $450 $40,000-49,999 $400 $600 $50,000+ $500 $750 Bonus Commissions Rules

3 Payment require a two year team agreement, at a minimum Payment require monthly bankcard processing volume of $2000 at a minimum Payments will be made in the month following the first full month of processing ( minimum 30- day delay in payment, depending on processing date) Payment calculated on the first 30 days of processing (no future payments) First month of processing must occur no later than six months following the month the account was boarded To be eligible for a Clover premium, the merchant account must have at least one new Clover Station equipment bundle Any Upfront Payment paid on a merchant account will be charged back to the agent, sub agency and sales consultant if that account closes for any reason within 6 months after the month in which the account was opened Payment are paid on merchant accounts sold at standard pricing only. Merchant accounts with exception pricing processed through the Ignite Payments finance group are not eligible except on a case-by-case basis. Ignite Payments reserves the right to modify or eliminate the Upfront Program at any time at is sole discretion Product Residual Revenue Share Fees Clover Sass Fee 30% Clover Third Party App Fees 12% (1 year period) Perka 20% Payeezy 100% markup (MAF) Monthly Access $10 +$0.00 trans fee Monthly Access $ trans fee Wireless 100% markup (MAF) Terminal specific Fees included in GPR Product Residual Revenue Share Fees Merchant Club (MC) $25.00 On time payment after 60 days Pin Debit $10.00 Fess included in GPR Money Network On time payment after 60 days $0.50 per funded (activated) loaded card per month Product Residual Revenue Share Fees First Data Merchant Cash Advance Program 3% upfront on wkly payout (Thursday/Friday)

4 Cash Advance Program 3% upfront commission on merchant s purchased amount paid weekly on Thursday/Friday for previous week o $10,000 purchase price x 1.35 factor rate= $13,500 purchased amount x 3% upfront =$405 upfront commission 1% residual on merchant s daily remittance to FD MCA paid monthly o $350 net MasterCard and Visa credit and non-pin debit X 1% residual = $3.50 residual for the day 2% upfront commission on a merchant s FD MCA renewal paid weekly on Thursday/Friday for previous week TeleCheck Warranty and ECA Upfront Commission** One-time payment of $75 upon activation of TeleCheck account. Setup Fee Inquiry Rate Transaction Fee Monthly Minimum Fee **No commission will be paid if the merchant:(a) is already subscribing to the Services at the time of the sale (or has subscribed within the preceding 180 day period) unless the merchant has new ownership and a new federal tax identification number has been issued; or (b) is currently in the process of negotiating of the Services at the time of the referral or the merchant has already been referred to TeleCheck by another entity who will be due a commission under another agreement; or (c) has not paid in full the billings to which the commissions relate. Telecheck upfront commissions is payable upon accounts activation. Activation is defined as submission of a Telecheck transaction, not including test transactions. Commission is due back from the agent if account is suspended, in collections, or closed within five months upon activation.

5 Payouts are determined based upon the Gross Processing Revenue at the end of each calendar month. The percentage may due to the processing volume of your client sales each month. The chart below represents the measure periods for each month Measurement Period Effective Date December January 1 January February 1 February March 1 April May 1 May June 1 July August 1 August September 1 October November 1 November December 1 The Premier Schedule percentage shall be determined based upon the number of new Open Accounts at the end of each calendar month under the agreement in effect at the time the merchant was boarded. The percentage shall be recalculated by the first day of the last month of each calendar quarter and shall be effective as of the first day of each calendar quarter (each a Premier Recalculation Effective Date ).The quarterly recalculation may result in an increase, decrease or no change to Premier Schedule percentage. The Premier Schedule percentage will be increased if the average number of new Open Accounts for the three calendar month review period for such calendar quarter is in a higher tier on the Premier Schedule. The Premier Schedule Revenue share percentage will only be reduced if the average number of new Premier Open Accounts per month in the applicable six calendar month review period for such calendar quarter is in a lower tier on the Premier Schedule. The following schedule summarizes the trigger dates regarding the calculation of the percentage that will be used to calculate Residuals: Summary of Trigger Dates Schedule: Calendar Quarter 1st Review Period that may result in increased Premier % for such quarter Aug. 1 - Oct. 31 Review Period that may result in decreased Premier % for such quarter May 1 Oct. 31 Date of recalculation for such quarter no later than Premier Recalculation Effective Date Period Residuals Paid Dec. 1 Jan. 1 - Mar.31 Feb. Apr. 2nd Nov. 1 - Jan 31 Aug. 1 Jan.1 Mar. 1 Apr. 1 - June 30 3rd Feb. 1 Apr. Nov. 1 Apr. 1 June 1 Jul. 1 - Sept th May 1 July 1 Feb. 1 Jul. 1 Sept. 1 Oct. 1 Dec. 31 May July Aug. Oct. Nov. Jan. Payments will be made in the month following the first full month of processing (Monthly minimum 30 Accounts)

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