As we reported in our June 15 cover story, Darrin Ginsberg, formerly of Cardservice International, announced he was discontinuing his association with Cardservice International and starting a new company, E-Commerce Exchange. Ginsberg choose Electronic Card Systems, Inc. (ECS) as his primary processor of credit card merchant applications. ECS reports that as a result of the affiliation, they are experiencing an exponential increase in new merchant account applications. In addition to becoming the primary merchant account processor for Ginsberg and others formerly associated with Cardservice-Laguna, ECS also has seen a dramatic increase in the number of active independent sales representatives as a result of implementing its first-ever agent buy rate program.
According to ECS founder and Chairman Richard Gordon, ECS is on track to initiate more than 2,000 new credit card merchant accounts monthly. "ECS historically has been in a very lucrative 'niche' of the acquiring industry, serving higher risk and keyed-transaction merchants," said CEO Charles S. Crawford III. "As such, our agent program was structured to provide handsome lifetime residuals on merchant referrals, but with ECS retaining the lion's share of the upside because we assumed the liability on the accounts. We decided to build on that strong base, but strategically re-position ECS to attract more mainstream merchants, especially 'swipe' and conventional Mail-Order/Telephone Order merchants."
ECS is registered with Visa and MasterCard as an independent sales organization and member service provider representing Humboldt Bank of Eureka, California. ECS can be reached at (310) 724-6675.
