Much More Than a Cameo Role
ndependent sales organizations and agents throughout the payment-
processing industry should check out this audition notice: Electronic
Payment Systems wants to cast some major talent in its long-running, well-
established production.
With a 60-employee headquarters in suburban Denver, EPS has built one of
the largest merchant-services businesses in the country after evolving from
a series of businesses spearheaded by one of the industry's most well-known
people, John Dorsey. For the last five years, EPS has grown remarkably
under the guidance of Dorsey, its CEO, and has emerged as a one-stop-
shopping company whose focus is creating profitability and growth for ISOs.
Consider what EPS enables agents to re-sell, with residual income for every
service:
+ Same-day merchant number issuance (sometimes in four hours).
+ In-house underwriting and risk management.
+ 24/7 customer service and tech support.
+ Web site construction.
+ Software download capability.
+ Direct link to processors.
+ High-speed T1 lines.
+ Special agreements with leasing, equipment warranty and check guarantee
companies.
+ Internet service provider.
Thus, ISOs don't have to scramble from one provider to another - EPS
centralizes every aspect of the payment-processing industry. How many other
providers offer such a variety of revenue streams?
Consider EPS's statistics: more than 800 deals a month, more than 18,0000
merchant deals on the books in recent years, residual rates of $5 per month
per warranty, $10 per month per check guarantee, $10 per month for Internet
services - all per merchant. As long as the agent sells the services, EPS
pays residuals that are separate from the agent's residual income from the
merchant.
Then there's the product marketing and agent training. And don't forget
EPS's willingness to accept "sub-par" or high-risk accounts.
Undercapitalized, start-up merchants find a friendly face at EPS. Except
for adult-oriented businesses and travel, EPS rarely turns down a request.
Then there's the impressive inventory of state-of-the-art equipment,
including terminals and printers from Verifone, Nurit and Hypercom and
other products from Gateway and IVI Checkmate. CMS even has RDM products
for check truncation.
This extensive and competitively priced inventory guarantees 48-hour (or
less) turnaround time for repair. Include an online catalog for paper,
imprinting slips, imprinter, ribbons, tent signs, POS trays, banners - all
orderable at EPS's Web site - and ISOs have the payment-processing world at
their fingertips.
GS asked Tony Maley, the EPS vice president of operations, who his
company's competitors are, and he responded, "We can get as big as we want
to get. The only thing that holds you back is yourself. However, we feel it
is important to manage our growth. We are very cautious. We have an entire
risk-management department that watches over us. We keep our losses at a
low minimum. The biggest thing is not the growth - it is the management of
the growth."
How exactly is EPS looking to expand its cast? The answer lies in what it
already has created - 25 affiliate offices scattered around the United
States. EPS wants ISOs to be in business for themselves, not by themselves.
Trained and assisted financially by EPS, these are talented ISOs who had
proven track records and looked to achieve the next level of success.
EPS hopes to add dramatically to its office total with an "agent-friendly"
approach. "Our goal is for you to make as much money as you can," Maley
says. "We give fast turnaround and good service for you and your merchant."
That service even includes a special program for ISOs - agent advocates.
EPS provides an alternative to having to deal with a different person each
time an agent calls in for help. Once ISOs join the EPS family, they're
introduced to the Agent Advocate Department - EPS employees who are there
to build lasting relationships with ISOs.
Agent advocates are available for customer service, tech support, equipment
issues, various information gathering and any other concerns agents have.
"Their whole job is to take care of you," Maley says. "There are several
for you to choose from to find the personality that suits you best."
The advocates can contact anyone in any department, all the way up to
Dorsey. Maley emphasizes that EPS is a very approachable, hands-on
organization.
EPS wants to give ISOs the chance to be their own boss and reach their own
financial goals. With its start-up assistance, ongoing support and access
to a solid business system, EPS offers what every agent needs for long-term
residual income without the adversity of large debts, heavy inventory and
overpriced equipment and services.
Maley shares EPS's future vision: "In two to five years, we'd like to see
2,000 new merchant apps per month. We have an entire infrastructure in
place to handle those needs."
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