Page 34 - GS220702
P. 34
Education
For a bank to sponsor an entity, it should clearly
Sponsorship fees range wildly understand, monitor and mitigate the associated risks. The
bank should know which functions it may not delegate,
from a fraction of a basis point and the work required of it to ensure the returns produce
sufficient profits. A sponsor bank should understand
to nearly 0.50 percent. its processing limitations and the risks extended by its
The fee is dependent upon sponsorship agreement.
the risk as well as the labor Banks have an extraordinary opportunity provided by
their bank charters and card network rules and should
undertaken by the bank. develop programs that monetize that opportunity in
a manner consistent with their capabilities and risk
tolerance.
The contract between a sponsor bank and a third party
delineates the delegated authority and responsibilities of As founder of Humboldt Merchant Services, co-founder of Eureka
each party. There are, however, certain functions banks Payments, and a former executive for such payments innovators as
may not delegate, and banks and ISOs would be wise to WePay, a division of JPMorgan Chase, Ken Musante has experience in all
ensure their agreements align with the card network rules. aspects of successful ISO building. He has also served as an expert wit-
ness on numerous complex civil and criminal cases in payments, a service
Often those rules are made part of operating agreements he provides, along with consulting on merchant services and platforms,
(and merchant processing agreements) between ISOs and as founder of Napa Payments and Consulting, www.napapaymentsand-
banks, yet clauses exist that are at odds with the rules, consulting.com. Contact him at kenm@napapaymentsandconsulting.
fueling hotly contested disputes that could have been com, 707-601-7656 or www.linkedin.com/in/ken-musante-us/.
easily avoided.
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