The Secret to Creating a Residual Income Empire Off of Credit Cards with David & Patricia Carlin: An EOFire Classic from 2022

Entrepreneurs on Fire

John Lee Dumas

Content, Passive, Entrepreneuronfire, Podcast, Money, Entrepreneurs, Income, Success, Business, On, John, Marketing, Eofire, Entrepreneurship, Online, Dumas, Niche, Fire, Careers, Media, Lee, Internet, Mobile, Interview, Entrepreneur, Seo, Finance, Social

4.8 • 4.1K Ratings

🗓️ 28 September 2025

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

From the archive: This episode was originally recorded and published in 2022. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL's in these archive episodes are still relevant.

David and Patricia Carlin are the powerhouse couple behind Residual Payments. They have dominated the credit card processing industry for over 2 decades creating millions in residual income.

Top 3 Value Bombs

1. A merchant account helps a business accept payments online. Once you get setup, every time you take a card payment, residual income is generated as a percentage of that transaction at the end of the month.

2. It's not the knowledge, it's the accountability to make sure they do what they need to do, hit their goals, and have support.

3. Having personal relationships far surpasses being a sales person and trying to get a deal.

Transcript

Click on a timestamp to play from that location

0:00.0	Who's ready to rock today, Fire Nation. JLD here and welcome to Entrepreneurs on Fire,
0:07.6	brought to you by High Level, the all-on-one sales and marketing platform.
0:11.3	On today's classic episode, we'll be breaking down the secret to creating a residual
0:14.9	income empire off credit cards with David and Patricia Carlin.
0:19.1	David and Patricia are the powerless couple behind residual payments.
0:22.5	They have dominated the credit card processing industry for over two decades,
0:25.3	creating millions in residual income.
0:27.7	And today we talk about how it's not knowledge, it's accountability,
0:30.5	and having personal relationships far surpasses being a salesperson
0:33.6	and trying to get a deal.
0:35.2	And oh, so much more.
0:36.7	And a big thing of a sponsor in today's episode goes to our guests and our sponsors.
0:41.0	Are you ready for the ultimate all in one platform for entrepreneurs, marketers,
0:45.7	coaches, and agencies, build funnels, automate follow-ups, manage clients, and even
0:50.9	white label your own software.
0:53.2	Say hello to our featured partner high level
0:56.4	and visit high level fire.com to start your free trial today. Franocity has helped
1:04.6	hundreds of people leave unfulfilling jobs, invest in recession resilient businesses, and
1:09.3	create legacy income for their families through
1:11.5	franchising. Get started today with Franosity's franchise funding guide, packed with real-world
1:17.3	strategies to launch your business without draining your savings. Visit franosity.com. That's
1:23.1	F-R-A-N-O-C-I-T-Y dot com.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from John Lee Dumas, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of John Lee Dumas and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.