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Seeing Dollar Signs

As Liza told us in "Cabaret," "Money makes the world go 'round." In the ISO world, getting that money wheel turning sometimes requires the maneuverability of a financial gymnast.

One independent sales organization is flexing its innovative solutions with a new program that will jumpstart any ISO money machine. Founded in June 1995 under the name CPS Group, Cynergy Data is a registered ISO with MasterCard and VISA. Having doubled its annual sales over the last year alone, Cynergy Data is one of the fastest-growing merchant acquirers and has programs, products and pricing that focus on the needs of its reps.

In addition to the 2001 name change, Cynergy has introduced a number of significant programs, including new pricing for a more lenient credit policy, electronic check conversion, electronic gift card processing and electronic commerce solutions. Its latest offering is the Conversion Incentive Program.

Announced on May 1, 2001, the Conversion Incentive Program was developed as a tool to inspire motivation, increase productivity and exceed expectations. With this program, Cynergy Data will pay a conversion bonus for each Level 1 merchant account the agent converts. ISOs now have the possibility of making up to $1,000 per converted merchant in addition to monthly residuals. By reviewing merchants' last three months' processing statements, the conversion bonus amount is calculated, of which Cynergy Data will pay 1 percent. Here's how it works:

+ Add the merchant's MasterCard and VISA processing volumes from the previous three months' processing statements.

+ Calculate the average processing volume by dividing the total MasterCard and VISA totals by three.

+ Multiply the average by 1 percent, and that is the conversion bonus total.

The maximum amount paid will be $1,000 with the first $500 rendered up front and the balance paid after six months. The minimum payout received will be $25, making this program a win-win situation. Keep in mind, however, that the Conversion Incentive Program is for Cynergy Data Level 1 merchants only and takes the place of any previous conversion bonuses offered.

Within Cynergy Data's credit policy guidelines, merchants are categorized into three groups based on business type. These classification levels are broken down by charge-back risk, loss and/or fraud exposure:

+ Level 1 - low-risk retail

+ Level 2 - high-risk retail, MO/TO and Internet merchants

+ Level 3 - exclusion list (unacceptable business types)

Headquartered in New York, Cynergy Data is eager to start spinning those money machines. ISOs looking to catch some extra cash should visit www.cynergydata.com or call 800- 933-0064.

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