Payteva credit-card processing ‘dealer-broker’ starting
Jared Butler, co-owner of Payteva, is bringing an independent option to serve Farragut and Knox County businesses with their credit card processing needs.
“We are a wholesale dealer and broker for multiple credit card processors and point-of-sale systems,” Butler said. “The bulk of what we do is credit card processing, and almost any business that accepts credit card payments at any level is a potential client.
“That can span across every industry, every type and size of business anywhere in the country,” he added.
Butler’s customers range from doctors and dentists to restaurant and civil engineering firms. Butler explained his firm is a middle man between those businesses and national credit card processors, point-of-sale and payroll providers to faciltate those services.
“We are one independent company, and we use all these national credit card processors, point-of-sale and payroll providers,” he said. “We’re a dealer, in some capacities, and a broker.
“They provide the network for those services, but everything from installation, sales support to training … we facilitate.”
While these companies have an 800 number to call, Butler’s customers have him as a local number when they need assistance, he added.
Butler grew up, for the most part, in Knoxville and Farragut, having lived in Farragut while attending Halls High School his junior and senior years.
After serving four years in the U.S. Marines, he moved to Iowa, where he and his girlfriend lived almost five years before he returned to the Halls area two-and-a-half years ago. While he runs Payteva out of his home, technically, “I’m never home,” Butler said about always going to his customers — and not having set business hours.
“We are not limited geographically in any way, but Farragut has become my central area of focus,” he added.
While in Iowa, Butler said he worked for one of the largest credit card processors in the country.
When that company was bought out by another firm, he said, “The culture of the (original) company shifted … so there was sort of a mass exodus of employees.”
After non-compete obligations expired, his former boss in Iowa, Steve Casteel, started his own company in 2017 and reached out to Butler last summer with a partnership offer.
“We loved working together so much” that Butler accepted the offer in November 2019.
“I’ve been carrying on all this knowledge and experience of the payments industries for years and its kind of worthless if you don’t put it to use.”
The company’s corporate office is in Urbandale, Iowa.
“One of the reasons (Casteel) wanted to get me involved, in addition to me having a wealth of experience and no need to teach me, was he wanted to break out of the Midwest and expand,” Butler said.
For more information, text Butler at 865-850-9556.
