Credit Card Processing (MLM)

[CCKenMLM]

I just started working with a new credit card processor. I proposed the creation of an MLM for site owners, they agreed to the plan if there were actual customers.

So my question is this. If you could sign up merchant processing as an MLM, would you do it?

Meaning, you sign up for processing with this company (cheaper or the same price as you currently pay). for every processing customer you sign up, you get paid a portion every month.

For examply -
You sign up for this merchant processing.
You then sign up 3 of your friends (Peter, Paul and Mary).
Every month you get a residual payment based on the activity of Peter, Paul and Mary.

Using made up numbers.

Peter charges 1,000.00
Paul charges 200.00
and
Mary charges 10,000.00

You could earn (remember I'm making this up, I haven't solidified any details):
From Peter: $10.00
Paul: $2.00
Mary: 100.00

Everyone would pay the same or less as their current processing and the proceeds of your network could (if you opt) pay for your processing, whereas you would get the remainder in a check or roll it over.

So.. you think this idea could work? Is it worth pursuing?

 

[alexartis]

Some of the credit card merchant programs are setup very similar to an MLM setup. Credit card merchants have affiliates. Their affiliates have sub-affiliates and so on and so forth. It's a viable model but one that you have to be committed to long term to make any money from. IMHO.