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Some merchant-service providers are using a Web-based system called CardFellow.com to find potential merchant clients and communicate with them, according to Ben Dwyer, founder and managing member of the Web site. Merchants can "get three, four proposals all in one place without having to search 18 different Web sites to get one. The Web site enables [service providers] to tap into markets we may not know are out there," says Cheryl Bousquet, a consultant with Central Payment Corp., a Larkspur, Calif.-based independent sales organization. A merchant can register with the site and create a business profile that includes the transaction rates it is paying, the type of business it conducts and its credit standing, says Dwyer. The CardFellow system sends the merchant profiles to merchant-service providers that have registered with the site, he says. After reviewing a merchant profile, a provider could choose to send the merchant a service quote. A merchant interested in a service provider can communicate with that provider via an online message board monitored by CardFellow, he says. The service is free for merchants. Providers can register for free but must pay to send a quote to a merchant, says Dwyer. The quote prices change based on merchant type. A provider will pay between $7 and $8 to send a quote to an established, high-volume merchant, while a newly established merchant may cost $3 or $4, says Dwyer. Bousquet has not yet closed a deal using the Web site, "but it's led to dialogue and merchant-relationship building," she says, noting she has sent up to 10 quotes to merchants using the site.
