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Table of Contents

Lead Story

ISOs no longer need bank sponsorship in Europe: Are you ready to go?

Caroline Hometh
RocketPay LLC

News

Industry Update

Fitzsimmons leaves First Data for Cynergy Data

FBI warns banks of new cyber threat

InspirePay's new way to pay

Fiserv sues FIS over alleged patent infringement

Trade Association News

Features

An interview with Kevin Smith

Ken Musante
Eureka Payments LLC

The business of being social

Research Rundown

Meet The Expert: Alan Kleinman

Selling Prepaid

Prepaid in brief

Gift cards reinvigorate ATM channel

The slam dunk of stadium cards

David Parker
Polymath Consulting

Views

Prepaid opportunities ahead

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
Hard lessons and easy pickings

Bill Pirtle
C3ET Credit Card Consortia for Education & Training Inc.

You're never too small for an HR department

Alan Kleinman
Meritus Payment Solutions

Durbin - the aftermath

Adam Moss and Jeffrey Shavitz
Charge Card Systems Inc.

Skimming through the holiday season

Nicholas Cucci
Network Merchants Inc.

Riding the POS life-cycle wave

Dale S. Laszig
Castles Technology Co. Ltd.

Company Profile

Alpha Card Services Inc.

New Products

Next-gen reader expands mobile

ROAMpay G3X Swipe
ROAM Data Inc.

An open SDK for mobile payments

Pay Anywhere SDK
North American Bancard

Inspiration

Belief makes dollars and sense

Departments

10 Years ago in
The Green Sheet

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

January 23, 2012  •  Issue 12:01:02

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Fitzsimmons leaves First Data for Cynergy Data

In what she said was a surprise to many of her peers in the payments industry, Kimberly Fitzsimmons, the well-known President of Independent Sales for First Data Corp. Commercial Services, left First Data in January 2012 to become the new Chief Executive Officer at Cynergy Data LLC.

Fitzsimmons began her career in the industry in 1987 with payment processor Concord EFS Inc. She was a Senior Vice President with Concord when First Data acquired the company in 2004 and is credited with being a key in the successful integration and merger of the two companies.

"This is an interesting move," Fitzsimmons said. "After 25 years it was an emotional and very personal decision to leave, but Cynergy Data has a great foundation of people, many of whom I've known and worked with over the years."

The mission

Fitzsimmons said her new board of directors gave her a mission when she was hired: grow the company. "This has been a solid producing company over the years," she said. "But recently it hasn't grown much. That is my challenge - growing and driving sales."

Cynergy boasts approximately 100,000 merchants in its portfolio with volume of about $10 billion annually. Fitzsimmons said she is still in the early stages of data gathering, so it is too early to talk yet about goals during her tenure. "We have good players," she said. "We are just making sure they are in the right position. When that evaluation is through, I think we will have our short-term and long-term goals set soon after."

Partnerships and products

Fitzsimmons said the crux of building the business is partnerships - who to partner with and how to structure deals. She said she intends to turn the company's focus to its products. "Our products are what differentiate us from the rest of the ISO models," she said. "We want to be a technology leader and use our technology not just for our clients; we may want to license our technology to others also."

Mobile commerce is a part of the industry's future, she said. "It's not a matter of if, but when," she said. "We have to be ready for mobile commerce, and we are definitely ready to be there. We have the product, and we have the tool set."

At the center of Cynergy's products is the company's VIMAS account management system for ISOs. "VIMAS version 2 is being rolled out now," Fitzsimmons said. "I want us to have VIMAS on a regular enhancement schedule." She added that the company is testing a number of new products, but it is not quite ready to make announcements about them yet.

The meaning of success

Fitzsimmons believes success will be measured through the company's ability to provide service and build relationships. "I am a person who values people," she said. "We value our employees here as assets. We value our customers, our ISOs and our merchants, and our relationship with them."

At First Data, Fitzsimmons helped grow sales through the referral network she set up. She plans to build a similar network for Cynergy. "We want to be working smarter, not harder," she said. "We will be setting up referral programs in multiple flavors."

For additional news stories, please visit www.greensheet.com and click on "Read the Entire Story" in the center column below the latest news story excerpt. This will take you to the full text of that story, followed by all other news stories posted online.

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

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