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Table of Contents

Lead Story

Thriving in a disruptive market - ISO strategies


Industry Update

FTC reports on Durbin enforcement

VeriFone says micro-merchant acquiring unprofitable

New malware infects POS terminals

SmartMetric CEO may see confidential info


The Business of Wanting More:
A capitalist's guide to transformation

Five predictions for billing and payment in 2013

Research Rundown

Meet The Expert: Matthew Golis

Showrooming: A merchant's challenge

Selling Prepaid

Prepaid in brief

Gift card mall goes mobile

Gift cards remain prepaid powerhouse


Replacing rootstock: The payments agenda for 2013

Brandes Elitch
CrossCheck Inc.


Street SmartsSM:
Thwart SAD: Winterize your sales plan

Jeff Fortney
Clearent LLC

Take stock with a brand and marketing audit

Peggy Bekavac Olson
Strategic Marketing

Mitigating POS terminal fraud in India

Sunil Rongala
MRL Posnet Private Ltd.

Company Profile

eMerchantPay Corp.

Merchant Statement Analysis

New Products

A smart, customer-centric platform

Genius Customer Engagement Platform
Merchant Warehouse

Patented, online mobile fraud protection

SecureBuy 2.0
SignatureLink Inc.


Use your strengths to improve weak areas


Readers Speak

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

January 14, 2013  •  Issue 13:01:01

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Meet The Expert: Matthew Golis

Matthew Golis, co-founder and Chief Executive Officer at YapStone Inc., was a consultant for Netscape Communications Corp. in the mid-1990s when the browser pioneer launched one of the first online, direct-to-consumer bill payment platforms utilizing card-based payments rather than bank transfers.

This is what led Golis to the payments industry. "I had some very early experience with using card payments before Amazon and a lot of other e-commerce retailers really got going," Golis said. Golis saw a promising opportunity in the electronification of bill payments, especially for larger-ticket bills.

Follow your hunches

"What's most peoples' largest bill? Their rent," Golis said. That insight led to the birth of YapStone, a company whose focus on rental payments has expanded from apartment complexes to vacation rentals, self-storage facilities, homeowners' associations and bed and breakfasts.

The value proposition of such payments is straightforward: paying online with a credit or debit card is faster and more convenient than cutting a check. "I'm sure The Green Sheet crowd would love to hear this: the bank bill payment systems could not deliver a payment to the landlord in time," Golis said. "Because it was a card payment [via YapStone], the landlord was getting a real-time notification that the person had paid."

Although the majority of rent payments are still done the old-fashioned way, renters of the future are poised to change that dynamic. "When these 20 somethings move into apartments, I mean they've never written a check in their lives," Golis said.

He believes this younger generation of renters will demand to be able to pay with bankcards, and property management companies will be forced to adopt card-based online bill payments.

With YapStone already processing $6 billion annually in card payments, Golis sees a bright future ahead for electronic payments in rental markets.

Specialize or expire

If YapStone's success is any indication, the future for ISOs and merchant level salespeople (MLSs) rests in specialization and customer service. Basic, one-size-fits-all solutions do not address the distinct needs of businesses in specific niche markets, Golis said. "Just reselling an e-commerce gateway or virtual terminal that's fairly generic is just not good enough," he noted.

Golis advises ISOs and MLSs to target a few markets, learn their intricacies and become experts in how niche businesses in those markets operate.

That knowledge can help sellers overcome disadvantages, such as not having in-house information technology departments and proprietary technology to give them a competitive edge.

"Even if you don't have your own technology, understand that it's not just a matter of deploying a terminal," he said. "You have to understand how these people would take payments electronically."

Golis warned that having a generalist mindset and resisting change can be a career-ending combination. "I think there are a lot of people who are still set in that mentality, and they've got to change, because [otherwise] they will perish," he said.

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

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Spotlight Innovators:

North American Bancard | Simpay | USAePay | Impact Paysystems | Board Studios