From: J.D. Oder ll
Sent: Friday, August 3, 2018 4:16 PM
To: Jared Isaacman
Subject:

Hey Boss-
Got a decent update. As you know, the Fiserv ISO agreement allows them to sell to any merchant that a) is processing over $5mm annually in
Visa/MC volume and b) that they have an existing banking relationship with. We've always known that Fiserv approaches our merchants-
and we've lost a few along the way, although we've never lost a really big one (that i'm aware of).
We're getting more and more feedback from our sales teams about their merchants being approached by Fiserv and them quoting 7-1 Obps.
Seems crazy for them to be that aggressive given they have ~30% of the economics on the portfolio {see revenue share schedule below), but
John is working on some analysis to see what the "average" might look like.
Additionally, John has been calling all of the "top" merchants- specifically those that we believe might meet that $5mm threshold, and is
getting the following feedback:
•    Merchants are confirming that Fiserv is reaching out
•    Merchants are saying that they are tuming down the Fiserv calls.

We're working on a way to better equip our sales teams to battle this head-to-head, and we're working on ways to pull together more
concrete data. But in the meantime, wanted to get the feedback to you while it was "fresh".
Let me know what you think.
-d

Reseller Rate and Fee Schedule

Monthly Visa,
MasterCard and
Discover
Transaction
Volume
(Bankcard
Sales Volume
plus PIN Debit
Sales Volume)

Reseller
Revenue
Share
Percentage

Up to but
less than
$300,000,000

27.5%

$300,000,000
or greater

32.5%

CardConnect.
CONFIDENTIAL

From:   Angelo Grecco
Sent:   Wednesday, August 22, 2018 11:49 AM
To:     'Jared Isaacman'
Cc:     J.D. Oder ll
Subject:    FW: Fiserv meeting

Boss, I just had a call with XXXXXXXXX. They are a venue management software in Canada. There contract runs through Q1 2019. The
main contact is XXXXXXXXXXX.

Fiserv has been calling them- they have rates in the 6-9 range, but they are not "paying much attention" because we have been good on the
service side

I will let you know ifl learn anything else.
Angelo

From: John Shlferl
Sent: Wednesday, August 22, 2018 11:50 AM
To: Angelo Grecco <agrec:co@cardoonnect.com>
Subject: Fiserv meetlng
FYI

Begin forwarded message:

From: XXXXXXXXXXXX " <XXXXXXXX>
Date: August 22, 2018 at 9:43:15 AM EDT
To: John Shiffler <jshiffler@shift4.com>
Subject: Fiserv meeting

Hey John,

XXXXXXXX here, spoke yesterday with XXXXXXXXXX .

Not sure if this is helpful information or not but Flserv had reached out to a couple of XXXXXXXXX users. They are offering
extremely low rates for our larger clients. The two examples I have (one is a recent tum down due to service), rates were
quoted at 6-9 basis points over interchange. No basis points + XXXXXXXXXXX

XXXXXXXXXXX XXXXXXXXXXX XXXXXXXXXXX
XXXXXXXXXXXX.

1

CONFIDENTIAL

From:   J.D. Oder ll
Sent:   Friday, August 3, 2018 4:33 PM
To:     Jared Isaacman
Subject:    Re:

Makes perfect sense- can also let them know that we support the full product suite, and they only support CardPointe.
-d
On Aug 3, 2018, at 4:21 PM, Jared Isaacman <jisaacman@shift4.com> wrote:

    Let our top 25 know that if they are pitched by Fiserv, and we match the price, that we will
    also throw in a free EMV terminal to go with it.

    > On Aug 3, 2018, at 4:16 PM, J.D. Oder II <joder@cardconnect.com> wrote:
    >
    > Hey Boss-
    >
    > Got a decent update. As you know, the Fiserv ISO agreement allows them to sell to any
    > merchant that a) is processing over $5mm annually in Visa/MC volume and b) that they
    > have an existing banking relationship with. We've always known that Fiserv approaches
    > our merchants- and we've lost a few along the way, although we've never lost a really
    > big one (that i'm aware of).
    >
    > We're getting more and more feedback from our sales teams about their merchants being
    > approached by Fiserv and them quoting 7-1 Obps. Seems crazy for them to be that
    > aggressive given they have ~30% of the economics on the porfolio {see revenue share
    > schedule below), but John is working on some analysis to see what the "average" might
    > look like.
    >
    > Additionally, John has been calling all of the "top" merchants- specifically those that we
    > believe might meet that $5mm threshold, and is getting the following feedback:
    > Merchants are confirming that Fiserv is reaching out
    > Merchants are saying that they are tuming down the Fiserv calls.
    >
    > We're working on a way to better equip our sales teams to battle this head-to-head, and
    > we're working on ways to pull together more concrete data. But in the meantime, wanted
    > to get the feedback to you while it "fresh".
    >
    > Let me know what you think.
    > -d
    >
    >
    >

    CardConnect.
    CONFIDENTIAL