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Table of Contents

Lead Story

Secrets of the Inc. honorees


Industry Update

Proposed interchange settlement: Judge approves, industry objects

Hurricane Sandy's huge impact

EMV on fast track

Harbortouch emphasizes training

Trade Association News


Educational aid for the feet on the street

Selling Prepaid

Prepaid in brief

The gamification of rewards

FinCEN pushes for cross-border prepaid enforcement


Consumer payments in a connected age

Patti Murphy
ProScribes Inc.

Smart ISO-MLS relationships

Jeff Brodsly
Chosen Payments


Street SmartsSM:
Are you a 10?

Jeff Fortney
Clearent LLC

Differentiate yourself: Sell to the medical industry

Jeffrey Shavitz and Adam Moss
Charge Card Systems Inc.

Opportunities in RAN and private-label programs

Mustafa Shehabi
PayCube Inc.

How to propel merchants to shed comfortable habits

Rick Berry
ABC MobilePay Inc.

EMV: Game on!

Dale S. Laszig
Castles Technology Co. Ltd.

Have we missed the window for EMV?

Nicholas Cucci
Network Merchants Inc.

Company Profile

Keep in Touch Systems Inc.

Merchants Choice Payment Solutions

New Products

Helping merchants clinch the sale

Payday Express Plus
Secure Payment Systems Inc.

Capital resource for ISOs, MLSs

Residual cash advance program
ISO Advance


Thinking of starting an ISO?


10 Years ago in The Green Sheet


2012 - 2013 events Calendar

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

November 26, 2012  •  Issue 12:11:02

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New Products

Helping merchants clinch the sale

Product: Payday Express Plus

With consumer financing a persistent challenge under prevailing economic conditions, viable alternatives can be a lifeline for customers pressed to make critical financial decisions.

Payday Express Plus, launched in 2012 by Security Payment Systems Inc., is an in-house financing solution businesses can offer customers faced with any number of financial predicaments, from pet care emergencies to urgent home repairs.

With the exception of electronics, jewelry and clothing, Payday Express Plus covers financing for most other types of businesses, including medical and dental offices, auto repair shops, veterinarians, funeral homes, furniture stores and home maintenance services, among others.

"SPS sells exclusively all of its products and services through ISOs, MLSs," stated Steve Eazell, Director of National Sales and Marketing at SPS. "This program offers sales reps an opportunity to use this service as a door opener for merchant services, generate huge revenues by leasing equipment, and offers as much as 4 percent profit residual income per transaction on every sale."

The check-based financing program utilizes a POS terminal and check imager for processing and electronically depositing funds. Upon approval, a process that takes about 5 minutes, the customer writes a single check, and SPS initiates electronic automated clearing house debits from the customer's bank account: 25 percent of the total initially, followed by 75 percent split evenly and debited over 3, 6 or 12 months, depending on which financing options the merchant chooses.

It originally designed the product to assist customers with higher-ticket purchases, but SPS has found that dollar amounts financed tend to vary. "We have many merchants that use it for purchases around $500," Eazell said. "The average is $1,100."

Eazell added that SPS ran an advertising campaign to familiarize merchants with Payday Express Plus in preparation for the holiday season. "We wanted to get people familiar with the product so that when our reps were out there, they had the advantage rather than just going in there cold," he said.

Eazell also pointed out that SPS offers "comprehensive training and support to make sure that each agent and office is 100 percent ready and comfortable selling our services. We offer training and sales materials and offer sales support with each potential merchant."

Secure Payment Systems Inc.

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

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