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| Referrals Sold |
Monthly Residuals |
| 1 – 3 accounts |
$10 (maximum potential $30) |
| 4 – 6 accounts |
$15 (maximum potential $90) |
| 7 and more |
$20 (minimum $140 and up) |
Merchant Requirements
| 1) |
Referred merchant must process at least $20,000.00 monthly in VS/MC. |
| 2) |
Monthly residuals will be paid as long as the referred merchant and the original merchant continue processing with CPMS, Inc. with the volume submitted on the original contract. Original merchant being the merchant who has made the referral and participated in the RSP program. |
| 3) |
If the referred merchant terminates processing with CPMS, Inc. the related residual will
be discontinued. |
| 4) |
In the event, the referred merchant's processing volume decreases by 50%, the related
residual will be decreased by 50%. |
| 5) |
The option of selling residuals* by a multiple of 6, is only allowed after residuals have
reached $90.00 or greater and the merchant has reached the vested status. |
| 6) |
If residuals are sold, merchant and the referred account must process with CPMS Inc, for a minimum of 6 months after residuals have been sold. |
| 7) |
If residuals are sold and merchant/referred account switches processors within the 6 month period, the residual payout must be reimbursed to CPMS, Inc. within 10 business days. |
| 8) |
A merchant shall reach a vested status once the residual has reached a $90 per month.
Once the merchant terminates the processing relation with CPMS Inc. the monthly residual will be also be terminated. Vested merchants will receive a compensation of their monthly residual x 2 within 30 days of termination. |
*Note: CPMS has the right but not the obligation to purchase the residuals. Your residuals are not transferable. They can not be sold to a third party. |
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