Personal Data, Inc., has introduced a new product which can be added to the services you currently offer your merchants' Credit Reporting through a POS terminal.
The Personal Data System hardware consists of a Tranz 380x2, VRP 2000 printer, keyboard 100, and a keyboard 100 stand. One side of the terminal processes credit cards, checks, debit cards, EBT, and other programs the merchant uses. Then the merchant presses the enter key twice to access the other side of the terminal to process the credit report.
The credit reports are obtained from the positive and negative databases of Equifax and Experian. Unlike other credit report providers, PDI is not limited to certain zip codes or regions; reports are drawn from 190 million consumer credit files.
The report, which cannot be viewed by the consumer, prints on the standard 3-inch printer paper and takes about one minute to print. The report includes the following elements of the Equifax BEACON scoring system and Safe-Scan fraud protection:
1. A score for the potential for delinquency.
2. Up to four reasons that explain the most elements of the score.
3. Name/address verification.
4. Available employment information.
5. Installment and open accounts summaries.
PDI markets the program as helping merchants make better and more confident decisions when offering financing, loans, or setting up credit terms, and is especially effective for building supply, auto, repair, and medical industries. Resellers set their own equipment pricing and PDI charges $5 per report and $5 for monthly statements. ISOs make their money from the residuals offered.
For more information on PDI's Credit Reporting contact Shawn Teer at (972) 239-4711.
