GS Logo
The Green Sheet, Inc

Please Log in

A Thing
View Archives

View PDF of this issue

Care to Share?

Table of Contents

Lead Story

MLS certification: Boon or bane?


Industry Update

Prepaid cards make for big stored value - Part II

KKR can't resist First Data 'cash-flow machine'


In the words of John Shepherd-Barron, the ATM's creator

John Shepherd-Barron

MAC: The friendly fraudbusters


TJX turbulence: Time to board the PCI ship

Patti Murphy
The Takoma Group

Paying the payments dues

Ken Musante
Humboldt Merchant Services

Apple is a small potato here

Ben Goretsky
USA ePay


Street SmartsSM:
Proficient prospecting

Dee Karawadra
Impact PaySystem

The concern du jour? PCI

Ross Federgreen

The ABCs of portfolio sales

Adam Atlas
Attorney at Law

Anyone up for a chat?

Joel and Rachael Rydbeck
Nubrek Inc.

A blue route to green pastures

Biff Matthews
CardWare International

Company Profile

National Bankcard Systems

New Products

ET: Phone home via ATMConnect

Hypercom Corp.

ISOs' secret interchange weapon

Planet Financial Services


Sales stars are people stars



Resource Guide


A Bigger Thing

The Green Sheet Online Edition

April 23, 2007  •  Issue 07:04:02

previous next

New Products

ISOs' secret interchange weapon

Product: Acquire360

What is the ISO's secret weapon for getting the best processing rates? It just might be acquiring software. The Acquire360 suite from Planet Financial Services provides improved interchange qualified rates, according to Liz Novak, Planet Financial's Vice President of Operations.

"We've set it up so that our clients are receiving better interchange rates than they've ever received before with their current processors," she said. The improvement is "due to our interpretation of the regulations and our ability to apply it to the merchant data."

By running their own back-end settlement systems with the software, ISOs get outsized advantages, said Jay Christiansen, who works in technical sales at the company. The reduction to ISOs' interchange "can be a very large number that they can save or pass on to the merchant," he added.

Acquire360, a payment transaction processing solution, meets the range of needs of ISOs and merchant acquirers, according to the company. Planet Financial Services, a division of Planet Group Inc., offers third-party processors a scalable merchant accounting and settlement system.

The software suite's pricing "scales based on size of the ISO," said Mike Dooley, the company's Director of Sales. ISOs currently using the suite serve from 5,000 to 100,000 merchants, he added.

The software gives ISOs the ability to process card transactions; compute discounts and fees; and produce reports, special forms and statements.

The suite is parameter-driven via a graphical user interface. Additionally, it provides online tools to support clerical and managerial functions.

ISOs may host the system internally or use Planet Financial's back-end settlement system, with billing based on a hosted application-service-provider model.

"ISOs typically tend to focus on the sales development side and outsource the back-end," Dooley said. ISOs that outsource to Planet "get the benefits of their own in-house solution with a service-bureau model."

Key advantages of the software are its flexibility, control and cost reduction, Dooley said. When ISOs switch from a transaction-based variable fee to Planet's fixed cost software, they drive per-transaction costs down as they process more transactions, he added.

The software supports processing of 180 currencies and settles in 20 different currencies, allowing financial institutions to offer customers choices.

Built-in options accommodate fees triggered by external applications, enabling ISOs to bill and issue merchant statements on any user-defined schedule.

The software supports merchant-specific model groups to link processing parameters for specific merchant types, such as restaurants. This makes it easier to set up merchants falling within a given category code, Novak said. Or, setup for an individual merchant can be customized.

Other key features of the software include:

Planet Financial Services 800-979-9166 402-964-1999

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

previous next

Spotlight Innovators:

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