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A Thing Six


Speaking of Check Conversion

     Have you heard of Global eTelecom? If you remember the GS articles on electronic check processing (ECP) service provider GPST (see cover story and issues 99:08:01 and 99:10:01), then you are already familiar with what Global eTelecom does.

GPST was the electronic check pilot program for NACHA and Global eTelecom has recently acquired all of the company’s assets and technology and according to John Beebe, Chairman and CEO, “upgraded and enhanced it tremendously.”

One of the biggest perks of the Global eTelecom program is that it has the ability to provide full imaging of the check taken at the POS. But, the beauty of the program is that it does not slow the transaction time. The images are uploaded to the server at the end of batch out which, according to Beebe, keeps the transaction time down to that of a credit card transaction. As we’ve stated in many Green Sheet articles, ECP at the POS is a prime target for fraud and loss, however, Global eTelecom has programmed numerous proprietary measures in its system to protect against fraud and loss, regardless of whether or not imaging is used.

Another unique industry first is the search capability. Beebe tells us that through a secure site, merchants can log on to with a passcode, and track their sales and deposits, real time, 24 hours. Merchants are then able to customize and save their own report format, with the data tailored to suit each merchant’s individual needs. Beebe reports that no one else in the industry provides merchants a similar service.

The Global eTelecom service also differs from other programs in that the customer can chose ECP with or without guarantee or verification. The company uses Rocky Mountain (see lead story) for its verification and also uses Thompson services if necessary. According to Beebe, the company does not own their own database as they feel doing so would get them locked into only one data source and limit their verification and guarantee abilities. The company also offers Phone Checks, Internet Checks, Recurring Debit, and Lock-Box truncation capabilities.

While Global eTelecom is just a year old, their advisory board and board of directors have financial institution, sales, marketing, legal, bankcard, underwriting, collection, and check industry backgrounds. The company plans to go public in the next 18-24 months and is currently in discussions with many large national financial companies to develop strategic partnerships, including First National Bank of Omaha, to process Visa and MasterCard transactions. The company also enjoys a strategic relationship with Dassault to use the Talento terminal to process check, MasterCard, Visa, AMEX, Discover, and debit transactions with imaging capability. The program works on all terminals including IVI Checkmate, VeriFone, and NURIT.

Beebe tells us that the key to Global eTelecom is their focus on customer service. They feel that there are processors who sign up many merchants per month only to lose many others. “We believe in honesty and integrity toward customers, ISOs, and merchants. We strive to set ourselves apart and take care of business the right way. “

ISOs are paid lifetime residuals and are compensated 100% above the buy rate. The system is programmed to automatically disperse monthly commissions and deposit them directly into the ISO’s account. As far as what kinds of business they will or will not accept, they will work with almost anyone, depending on risk for that particular case. Beebe says they will look at each business individually and that it depends on the particular risk and individual players associated with the business. Beebe stated, “We have an open mind. We are interested in growing our business. We look for ways to put a merchant on our service as opposed to looking for ways to not put a merchant on our service.”

Global eTelecom is looking for ISOs who are honest and have integrity. Beebe stresses that they are not interested in working with someone who can send them 200 deals per month, only to have the deals go nowhere. Their goal is to build long-term relationships with ISOs and merchants, and they are seeking ISOs who will help foster those relationships. Global eTelecom also provides its own in-house customer service and a new technical support service to better serve its merchants.

For more information about Global eTelecom and the business opportunities for ISOs, contact John H. Beebe, Chairman and CEO or Michael Varley, Chief Operating Officer, at (850) 454-5385 or visit

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