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I'm looking for background information on the payment industry in general and paper checks specifically:

  • Size and breakdown of the payment industry.
  • Paper checks as a source of bank revenue.
  • Info on the extent to which electronic payment systems have been stealing share from checks.

Thanks very much for your help,

Todd Federman

Todd,

Go to our Web site, www.greensheet.com. You can search for this information, but you might want to narrow the parameters. All of our issues are available online. Of particular interest to you might be the GSQs that were check studies.

Good Selling!SM

The Green Sheet Staff

Full Disclosure, or Risk Exposure

I have been in the bankcard industry for about five years and approach it differently than most others. I have seen my fair share of merchant abuse by processors and sales representatives. BUT I also have seen good processors who do business ethically.

The Green Sheet has been very valuable to me. You really do walk a fine line. It's important that The Green Sheet never can be accused of supporting bad processors and bad sales representatives. In my opinion, this industry is going through a metamorphosis for the better, not unlike what the insurance business experienced in the early 1980s.

If we always do full disclosure to the merchant and he/she decides to do business with us, then we are that much closer to truly being professionals.

Sincerely,

David Buffington

AMG Financial

How to Make Private-label Payroll Cards

I've just read Eric Thomson's interesting article in the February 10, 2003 issue of The Green Sheet ("Visa's Vision: 'Credit is Boring ... We're an Electronic-payment Company," issue 03:02:01). I'm interested in making a private-label Visa or MasterCard payroll card. Would you be able to assist me in finding a sponsoring bank and a good processor?

Alex Nouri

President

EFT Direct

Alex,

The new Visa/MasterCard stored-value card program offers an ISO organization such as EFT Direct a number of options on how to bring the product to market. You can lead with a program provided by a third-party processor, major payroll processor or some of the large acquirer organizations.

Given the importance of payroll to every company, I suggest you look into your satisfied-customer base for clients who have significant turnover and un-banked employees. Explain the many benefits of a bank card-branded, ATM network paycard, document their requirements and ROI justification and then take this opportunity to bid from the many options available to you. Create a satisfied client that you can reference sell and then expand your portfolio from this base.

Good Selling!SM

Eric Thomson

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