News from the Wire

Cutter celebrates milestone portfolio purchase

Tuesday, October 19, 2021 — 09:34:34 (EDT)

Wyomissing, PA (October 19, 2021)- Cutter closed their 300th residual buyout in their portfolio purchasing history which spans across 50 different ISOs and processors.

Payments industry veteran, Cutter, acquired their latest book of business from Eliante Consulting Services Founder, Ray Eliante.

Mr. Eliante is a long-time agent of Nationwide Payments, LLC a wholly owned subsidiary of EVO Merchants Services, LLC and has achieved the President’s Member Award from Nationwide Payments.

Denise Shomo, president at Cutter, says, “Cutter always keeps the merchant with their current processor, but we will be taking over the excellent service and support of Ray and his team with Cutter’s growing US-Based client relations team in Pennsylvania.”

Denise Shomo and the acquisitions team at Cutter purchase residual streams on an ongoing basis. To learn about the process of selling a merchant residual portfolio or to get a valuation, email acquisitions@cutterfinancial.com.

About Cutter, LLC

David Daily, CEO of Cutter, founded the company in 2006 with a primary focus of helping ISOs and merchant level sales (MLSs) leverage the value of their residual income streams. At the time, he saw an increased need to provide them with an avenue to sell their residuals. Based in Lewisburg, TN, Cutter has grown to 22 employees and is now headquartered in Wyomissing, PA, with branches in Birmingham and Huntsville, AL, and Franklin, TN. Setting themselves apart from other portfolio purchasers, Cutter does not move merchants, requires no new business, and has built a knowledgable, responsive client relations team which offers a high level of service above the industry standard, as well as smooth merchant transitions.

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Source: Company press release.