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Josh Knox posted on a Monday that any business owner using Stripe is in trouble. A few hours later, someone in his feed posted that they had just been booted from Stripe. The next morning, someone else did the same.

This is the first live consult on the show. Josh runs Noomerik, a payment processor that replaces Stripe, and his clients are agencies. He explains how sponsor banks and risk decide who gets cancelled, how he pays agencies up to 70% of the profit on processing fees, and where he is stuck getting his message out. Then I tell him what I would do about it.

Joshua B. Knox is the founder and CEO of Noomerik, a payment processor that agencies can resell to their clients.

In this episode:

• Why Josh says Stripe cancels accounts over risk, and what he does differently
• How sponsor banks and processors sit behind every card payment
• Why Josh spreads one merchant across more than one bank
• How zero percent processing works with dual pricing (a credit card price and a debit price)
• How to build your own checkout on a payments API
• How the agency partner program pays: up to 70% of the profit on processing fees, according to Josh
• The $27 a month backup account Josh wants you to put behind Stripe
• Why a payments portfolio sells for 60x to 120x monthly recurring revenue
• My advice for Josh: one short a day, a lead magnet in the comments, and leading with passive recurring revenue
• Why I would turn his best Facebook post (4,100 views, 74 comments) into a video

Chapters:
0:00 Cold open: what a payments portfolio sells for
0:22 Intro
2:32 What Noomerik does and why people get booted from Stripe
4:56 Sponsor banks and how payments compliance works
10:04 Where Noomerik fits if you build your own checkout
10:55 Why Stripe cancels accounts (it comes down to risk)
14:50 Spreading risk across more than one bank
16:56 How zero percent card fees work
20:55 Building a custom checkout on the API
22:31 The agency partner program and how it pays
27:47 Is Josh worried about LC Payments in HighLevel?
29:07 Agencies moving to their own tech stack
31:43 Josh's challenge: getting his message out
36:49 Why AI removed the barrier to entry for video
38:57 One short a day and why people quit
40:59 Be opinionated and bring your payments expertise
42:26 Give away a lead magnet in the comments
44:48 Turn your best text post into a video
48:24 A $27 a month Stripe backup as the first offer
52:08 Lead with passive recurring revenue
53:45 Payments portfolios and why your own tech stack is worth more
55:14 How basis points and card issuing pay
56:33 Where to find Josh and Noomerik
57:09 Troy's outro: bring your personality online

Connect with Josh:

• Noomerik: https://noomerik.com

Mentioned in this episode:

• GoHighLevel: https://mvrx.link/ghl (affiliate link)
• Leave us fan mail: https://mvrx.link/fanmail
• Be a guest on the show: https://theagencyhour.com/apply
• Work with us: https://theagencyhour.com/headless

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