Bridgeview
Payment Solutions (BPS) is a wholly-owned subsidiary of Bridgeview Bank
and Trust, established in 1971. BPS, similar to their parent company,
focuses on a diverse range of merchants. They do accept most business
types but their focus is on the small and mid-level merchant market base.
Therefore, BPS concentrates on factors that affect these merchants, such
as fast application approval, quick payment, and affordability.
Although
BPS does not focus on the large retail giants, don’t make the mistake of
assuming they are “small time”. BPS is one of the nation’s largest,
and fastest-growing bankcard processors. BPI handles millions of dollars
of credit card transactions each week and provides services for more than
15,000 merchants. Their partnerships include 20 ISOs. They also
exclusively process declined applications from NPS, 1st Tennessee Bank,
U.S. Bank, and Lynk Systems.
Bridgeview
processes all credit and debit cards as well as EBT. They are a direct
member of Visa U.S.A and MasterCard, as well as an External Sales Agent of
American Express. They also process Discover, American Express, Diner’s
Club, and other major credit and debit cards. BPS also offers a check
guarantee program through CrossCheck, Inc.
ISO
Benefits
If
you were at the ETA and you did not hear about Bridgeview’s new
“Splits” program, you might have spent too much time at the 19th hole.
Bridgeview debuted their new program, complete with a full-page flyer in
the ETA registration materials, gymnasts executing balance beam skills and
splits in their booth, and a Friday Fight Night including boxing, kick
boxing, a live band, and dancing.
Bridgeview
is “Turning the Industry Upside Down” with their 55/45 Net Income
Split Program. The Splits program is unique because it enables ISOs to set
their own monthly minimums, statement fees, transaction fees, etc. ISOs
receive 55% of the net profit and Bridgeview takes the smaller cut, 45%.
The ISO is also rewarded with an equity portion of each merchant account
sold without taking on any concurring liability.
Other
Bridgeview selling features include:
1.
Same day application approval—BPS accepts faxed applications and
online applications should be available within 30 days.
2.
High approval rate—Greater than 98% of applications are approved.
3.
Freedom from financial liability—ISOs have no risk.
4.
Lifetime Residuals—ISOs receive residuals for the life of the account.
5.
Variety of business types served—BPS accepts business from a diverse
selection of businesses, including start-up, home-based, unfavorable
credit, MO/TO, and e-commerce.
6.
Flexible Credit Criteria—BPS will work to approve merchants with
questionable credit histories.
Merchant
Benefits
The
ISO benefits are clear but, as we all know, the ISO benefits don’t add
up to much if merchants don’t want the program. That’s not a problem
with BPS. Merchants appreciate the 24-hour toll-free hotline, which
affords them access to real humans, not voice-mail, 24/7. Merchants also
receive a monthly transaction summary and analysis, and a quarterly
newsletter. Finally, Bridgeview offers a merchant club, which guarantees
repair or replacement of POS equipment within 24 hours. The club also
offers free supplies.
Bridgeview’s
reputation is built on their partner relationships and history. In the
2000 edition of Faulkner & Gray’s Merchant
Acquiring Directory, Bridgeview Bank
Group was rated as one of the fastest growing merchant acquirers in the
United States. They are looking for ISOs who want to grow with them, and
are currently recruiting ISOs who are honest, have good business skills,
and integrity. For more information, call Tom Haleas, Chairman, or Jim
Maher, President at (630) 321-0117. If you prefer e-mail Tom’s e-mail
address is tomh@bridgeviewbank.com;
Jim’s is jimm@bridgeviewbank.com.
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