Got a call from a fast talking, having an answer for everything who says that they are the merchant processing department of Visa/Mastercard. First of all the two companies are separate entities so someone representing both companies raised a flag. Since I was curious to know more I probed the person and they kept going on and on.

The other # used was 480-389-3915.

In any case, they asked that I become a merchant representative and for licensing me I need to pay a fee ($295-$495) which will be reimbursed to me when I provide small businesses contacts that they can switch to their own merchant processing system. So basically if a business buys a card swiping appliance I'll get a rebate from $200- $500 per appliance (depending upon the fee I pay). Thereafter I get a 'cut' for each transaction that the small business processes. Additionally they'll setup a $24.95/month website with backoffice operations that will give me a snapshot of my earnings. I'll be setup as a 1099 business.
When I asked how to contact them they basically told me that I would be sent to a message machine because they are constantly on the phone. Further, Visa and MC cannot vouch for their existence because they are such large organizations.
Then I was told they are a special marketing group within Visa/MC merchant services group. I asked how to contact his boss for who he was and I could contact him. He was evasive. He claimed his name was Tom Ashcroft.
I asked what if what he is saying is a scam. He said  was going to be protected by Visa/MC. He said what's the worst that could happen to me. I would be out $495 but I could file a claim with Visa/MC and get reimbursed but if it wasn't I would be well on my way to earnings thousands of dollars monthly.
Additionally, he claims that because of their fee structure he was able to convert 82% of small business leads onto their processing system. If they carried only Visa and Mastercard the conversion rate was over 90%. So the likelyhood of my providing a list of 5 small businesses not converting to their processing system was very slim. Even if only ONE converted, I would be $5 ahead ($500 for each POS terminal - $495 fee). Thereafter, I would need to cover the monthly web fee and with more business contacts sent to him and each conversion I would be ahead.

This business is simply too good to be true.

I got the same call last week, promising basicly the same thing you outlined here.  I fell for it, but got them down to $195, please the web fee.  I wasn't able to open the pages I am supposed to sign electronically on my home computer.  However, I did get them open at work.  One document was a Partner Agreement with a company called D. W. Scott Financial.  In the agreement, which I did not sign, it states offering products that wasn't discussed over the phone, such as Debt Settlement Products, Loan Modification Products, and Credit Repair programs. Tonight I have just begun to try to contact them.  They have been calling me, but I have missed their calls.  When I try to call the person who originally called me, a Mark Madena, I get someone who says he is on the phone or in a conference. I lost their customer service number. I am anxious to see if this is a scam or not.