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Table of Contents

Lead Story

Thriving in a disruptive market - MLS strategies


Industry Update

Zaxby's breach under investigation

UBPS acquisitions further ambitious vision

AmEx restructuring, reimbursements force job cuts

Fed assesses Durbin effect on networks, banks


SMEs and important changes to the EU data protection act

Bill Farmer
Mako Networks Ltd.

Research Rundown

Fed analysis of post-Durbin effects on networks

Website mistakes to avoid

Selling Prepaid

Prepaid in brief

Using KYC to boost prepaid usage

Low fees may be lynchpin for tax refund card adoption


Is prepaid usage a valid measure of banking status?

Patti Murphy
ProScribes Inc.

Top five reasons to sell POS systems

Brian Jones

Is m-commerce at a cultural tipping point?

Rick Berry
ABC Mobile Pay Inc.


Street SmartsSM:
Tack like a sailor to strengthen your sales

Jeff Fortney
Clearent LLC

Time to take inventory of your leadership stock

Dale S. Laszig
Castles Technology Co. Ltd.

Distancing your ISO from the pack through partnerships

Christopher Briller and Sean O'Neil
MerchantPro Express LLC

Fraudsters persisting in the new year

Nicholas Cucci
Network Merchants Inc.

Company Profile

Glazer_Kennedy Insiders Circle LLC

New Products

Say yes to global customers

Multicurrency processing
Pivotal Payments

Artificial intelligence pinpoints fraud

Kount AI platform
Kount Inc.


You think you've got it bad


GS 10 Years Ago

Readers Speak

Resource Guide



2013 events calendar

A Bigger Thing

The Green Sheet Online Edition

January 28, 2013  •  Issue 13:01:02

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UBPS acquisitions further ambitious vision

In December 2010, payments industry entrepreneur Bipin Shah created Universal Business Payment Solutions Acquisition Corp. "to seek opportunities to acquire one or more 'platform' companies in the payment processing industry," according to the preliminary prospectus for the $72 million initial public offering filed with the U.S. Securities and Exchange Commission. Shah currently serves as UBPS Chairman and Chief Executive Officer.

In December 2012, UBPS completed acquisition of the Texas-based online card processor JetPay Corp. and the Pennsylvania payroll services company A D Computer Corp. UBPS plans to use these investments as a platform from which it will continue to acquire related businesses and further consolidate the small-business payments industry, according to information UBPS provided to investors.

The company stated it plans to acquire and consolidate in both the payroll industry, where there are 1,800 businesses servicing 56 million small business employees, and in the acquiring business, where approximately 1,000 merchant payment service providers are doing business with 8 million small businesses.

Shah's leadership is key to UBPS

Shah has significant experience in providing not only vision to enterprises, but also the guidance needed to turn vision into reality.

Previously, he was:

Shah said he is building UBPS to create a "one-stop shop for the payment needs of businesses" by using and leveraging the existing infrastructure of banks and retailers in innovative ways to create value for consumers, retailers and stockholders. According to Shah, JetPay and A D Computer provide UBPS with technology platforms that are secure, scalable and flexible.

"They not only provide UBPS with a competitive advantage, but their current and future capability in mobile banking and cloud technology will enable UBPS to develop products and services that will only accelerate that advantage," Shah said. "With a combined $32 million in revenues in 2012, approximately 7,000 customers, and solid profitability, we have created a platform we believe will drive growth and profitability significantly faster than the industry."

A D Computer serves unbanked

Shah said the A D Computer platform will lower costs and be more convenient for client companies. Employees will be able to get cash; pay bills; and access financial services through payroll cards, mobile technology, cloud payment systems, ATMs and POS systems.

Many employees receiving paychecks are underbanked, Shah noted. These workers pay millions for check cashing and money transfer services every year. "Using our system, people can send money across borders using an ATM rather than pay $20 to Western Union," Shah said in a January 2013 interview with The Green Sheet.

In an investor presentation in July 2012, UBPS said there are nearly 10 million small businesses in the United States employing 70 million people. Those employees make up about half the entire U.S. workforce. The company estimated that they represent a $2.1 trillion payroll. Shah said A D Computer delivers 100,000 paychecks, and half of the people receiving those checks do not have access to banking services. "That's 50,000 employees paying a ridiculous amount to cash their checks," Shah said. "UBPS gives access to financial services to people who don't have banking, checking or a credit rating."

JetPay provides in-house transactions

JetPay processes all its front-end authorizations and back-end clearing and settlement in-house for both card-present and card-not-present transactions. In 2012, the company reportedly processed more than 150 million transactions totaling an estimated $30 billion in sales volume.

Shah said JetPay will provide "newer technology and specialized processing like internet, cloud services, and mobile technology." JetPay can also deliver these products and services around the world "far faster than traditional providers," he added. Prepaid cards are also integral to the UBPS business plan. Shah stated the company will have gift card, loyalty, prepaid, student cards, and payroll cards among its offerings. Shah said he believes more payroll will be moving to plastic soon.

UBPS also intends to market to small businesses with annual receipts of $500,000 to $1 million per year by delivering new products and savings. For instance, Shah said he has developed a system for restaurants to charge customers when they order takeout over the phone. He said an average 20 percent of to-go orders are never picked up. The new system protects the merchant from loss after the order is placed.

For additional news stories, please visit 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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Spotlight Innovators:

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