A single receipt can change how you see the payments industry. When Naveed from KV Payments notices a 4% card charge at a mechanic shop, it triggers the question every small business owner eventually asks: where is all that processing margin going, and how do you price merchant services fairly without stepping into a compliance mess? We walk through Naveed’s unconventional path into payment processing, from relationship banking at Chase to the hard reality of building an ISO portfolio the slow way: door to door, account by account, learning interchange plus economics, and chasing the long game of residual income. Along the way, we talk candidly about what early-stage merchant services sales really feels like, why “easy money” narratives fall apart, and how persistence and clear communication win more than slick pitches. Then we dig into surcharging and dual pricing, including the practical questions Naveed asked at the start: is it legal, what’s actually compliant, and why did Visa’s rule changes force the industry to tighten its approach? From there, the conversation opens up into how KV Payments scales by staying flexible across verticals, building referral engines, deploying POS for hospitality, exploring utilities brokerage in deregulated states, and leaning into cannabis payments where cashless ATM has played a major role. If you care about payment processing strategy, merchant services pricing, ISO growth, and staying on the right side of card brand rules, this one is packed with hard-earned lessons. Subscribe for more conversations like this, share the episode with a payments friend, and leave a review with the biggest pricing question you want answered next. In this episode, we sit down with Naveed Khan, founder of KV Payments, to trace a journey that mirrors the payments industry itself: accidental entry, relentless hustle, and hard-earned lessons in margins, compliance, and merchant relationships. Hosted by Leo Arzumanyan and Jeremy Stock, this conversation goes beyond the highlight reel. Naveed walks through his early days in banking, the discovery of residual income, and the realities of building a book of business door-to-door in one of the toughest sales environments imaginable. From Chicago winters to inner-city merchant acquisition, this is the unfiltered version of how ISOs are actually built. The episode also dives into the evolution of merchant pricing—particularly the rise of surcharging and dual pricing—and the confusion that followed. What started as a “simple” idea of passing fees to customers quickly became a compliance minefield shaped by Visa and Mastercard rules, shifting enforcement, and operational gray areas. From there, the conversation expands into modern ISO strategy: Building a diversified portfolio across verticals like cannabis, utilities, and hospitality Structuring ISO relationships and brokerage-style models to capture more deal flow Leveraging residuals, referrals, and partnerships to create long-term revenue streams Navigating compliance shifts that can instantly impact pricing models and merchant expectations You’ll also hear how today’s most successful operators think differently—focusing less on single deals and more on ecosystems, partnerships, and lifetime merchant value. **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** PEP Links: https://www.globallegallawfirm.com/podcasts/ https://www.buzzsprout.com/2176695 A payments podcast of Global Legal Law Firm
