Entrepreneurs on Fire The Secret to Creating a Residual Income Empire Off of Credit Cards with David & Patricia Carlin: An EOFire Classic from 2022
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Sep 28, 2025 David Carlin, a payment industry entrepreneur, and Patricia Carlin, an expert in e-commerce billing systems, share their insights on creating residual income through credit card processing. They emphasize the importance of accountability and personal relationships in business success. The duo explains how merchant accounts generate ongoing revenue and debunks myths about accessibility in the payments industry. They discuss their journey to founding Residual Payments and outline how anyone can succeed with the right training and support.
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How Merchant Accounts Create Residuals
- Setting up merchant accounts creates ongoing residual income every time a client takes a card payment.
- You get paid as a percentage of transactions at month end while businesses continue selling.
From Early E‑Commerce To Payments Expert
- Patricia started in 1998 with one of the first companies doing online transactions and built subscription billing for major sites like StarWars.com.
- That early experience led her to consult banks on e-commerce and shaped her payments expertise.
Convert Merchants With Better Rates
- Do set up merchant accounts for businesses to earn a cut of every processed transaction.
- Offer lower rates or better service to convert merchants from PayPal/Stripe/Square and earn ongoing residuals.