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Table of Contents

Lead Story

Card acquiring:
Banking's forgotten family member?


Industry Update

Smart phone, smart payment

Open-loop gift card issuers given reprieve

Congress hammers issuers, acquirers spared

Trustwave alerts hospitality sector


Conference on your desktop

MWAA, a focus on opportunities

PCI unlocks a treasure of security content

Acquiring by the numbers

Selling Prepaid

Prepaid in brief

Virtual card delivers instant rewards

Payroll card market opportunities beckon

Rate this market: African immigrants


VoIP not a secure option

Scott Henry

Bad things happen to good people

Biff Matthews
CardWare International


Street SmartsSM:
Trusty tips for terrific networking

Jon Perry and Vanessa Lang

Margin compression: It's in your hands

Jeff Fortney
Clearent LLC

Elegant e-mail marketing

Daniel Wadleigh
Marketing Consultant

Seven steps to a practical PCI program

Tim Cranny
Panoptic Security Inc.

Company Profile

Sterling Payment Technologies

New Products

Wi-Fi installation simplified


Automatic collections with RDC

Electric Check Processing Plus
CrossCheck Inc.

Comprehensive e-commerce platform

Universal Financial Systems Inc.


Strength in cooperation



Resource Guide


A Bigger Thing

The Green Sheet Online Edition

June 08, 2009  •  Issue 09:06:01

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New Products

Comprehensive e-commerce platform

Product: BancRunner

BancRunner, an online service from Universal Financial Systems LLC, provides a payment platform for e-commerce merchants lacking the technical know-how (and chutzpa) to create one.

"What we've found in our market research is that the small merchant doesn't want to be viewed as a computer tech, and credit card agents don't want to be viewed as computer techs either," said Michael Player, President of Universal Financial Systems. "My client is the one who's scared to death of [computer programming]."

Online cash registers

Player pointed out that e-commerce gateways are simply "online cash registers," adding that ISOs long neglected a crucial area in the modern retail landscape - allowing companies like PayPal Inc. to swoop in and effectively monopolize that niche.

"All the credit card agents already had the merchants on the brick-and-mortar side," Player said. "We had a rapport with them, and all we needed to do was open an online account, and we didn't get that done.

While the credit card agents were being asked to sell this online service, PayPal just sneaks on up and takes it all. They let PayPal just walk away with the golden goose."

Player said BancRunner is both cheaper than PayPal and more comprehensive. He claims "more robust" shopping carts tend to charge merchants a monthly fee, while BancRunner charges only an upfront fee and a minimal renewal cost each year.

There are three different initial fees depending on the different value-added services that merchants subscribe to.

He said agents who sell BancRunner get commissions, just as they would for selling conventional terminals - and that the size of commissions depends on the value-added services sold with them.

Among those value-adds are Web site design help and various marketing tools - including a search engine optimization feature that helps merchants generate more hits from online searches, like those conducted on Google. If a merchant doesn't already have a Web site, BancRunner will create that Web site by branding the gateway with a merchant's logo.

"I'm a marketing professor, so I'm wired to do this branding," Player said. "If you don't have a Web site, we will build you a Web site - if you don't have a host, we'll provide you a host."

Gateway set-up ain't easy

Player said that, while a lot of merchants try to set up their own payment portals with "freebie cards," few do so without problems.

"There are many pitfalls, and you're going to have to experiment with putting it together," he said. "But some people like to dabble in computers - they think they're a computer programmer. Well, good luck. There's so much to know. I got techs that work for me, and their world is different from most normal people.

"We want to take the fear away from the merchants. But more importantly, we want to entice the credit card agent to sell BancRunner. The merchant oftentimes is going to come up and say, 'Hey, aren't you my tech, too?' So it takes the fear away from the credit card agent as well."

Universal Financial Systems LLC

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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