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December 2009 Issue
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Cover: Sales Incentives That Work |
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With merchant sales depressed by the sour economy, ISOs are struggling with a need to economize and simultaneously retain and motivate the best performers in their sales forces. Some are reconfiguring their compensation plans. Some are emphasizing recognition. Still others are sticking with what has worked in the past. And some are doing all of the above.
“We have contests, bonus programs, and revenue sharing, all paid promptly and accurately,” says Joyce Cook, CEO of International Cybertrans, a Nashville-based ISO. “We try to make the sales people feel really important and a key part of our organization. Rewards should provide personal satisfaction as well as money.” Cybertrans regularly holds friendly competition among its regional offices, with the winners getting gift cards or other perks. Recently, this ISO added a display that looks like a golf leader board to track the performance of the different regional offices in the contest. “We try to keep it visual, dynamic, and exciting,” Cook notes. Read the full story . |
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PCI's Evolutionary Process |
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It’s review time for the data security standards set by the Payment Card Industry Security Standards Council (PCI SSC). Among the likely changes that will affect merchants, processors, and payment service providers will be greater integration of innovative, technology-based security tools like endto-end encryption, tokenization, and mag-stripe imaging into the process in ways that could streamline compliance and make it easier and less expensive for merchants to comply. Download the Full Story |
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Last month, our three startups continued to see a wide variety of successes and challenges. Transaction Trends began tracking the progress of Express Transact, Leap Payments, and PayMint Partners in the November issue and will continue watching their progress over the next several issues.
From challenges in boarding merchants in a new vertical market, to cultivating referral partners, to incorporating different value-added programs, the entrepreneurs have made great inroads. Yet they’ve also had to grapple with processors’ reluctance to grant merchant credit and get merchants on board with PCI compliance issues. Here’s a look at recent developments. Download the Full Story |
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ISO Corner: Decoding the Encryption Enigma |
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As the industry tries to stay ahead of clever thieves with tactical fixes and a safer infrastructure, some companies are turning to end-toend encryption to safeguard data. But the solution is not only highly complicated and expensive, it also forces ISOs to decide how to deliver to merchants without compromising the all-important encryption keys. Download the Full Story |
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Industry Insider: CheckGateway |
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Phoenix-based CheckGateway LLC has been in business for more than 15 years, so it’s understandable when its employees consider themselves experts in ACH transactions.
“Our mission is ‘to enable our partners to reach their full potential by providing reliable and dependable service through a personal and innovative approach,’ and that’s very important to us,” says Vincent Lipari, CheckGateway’s director of business development. “It serves as the basis for everything we do.” Read the Full Story |
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Upcoming Events |
| April 17-19, 2012
Mandalay Bay
Las Vegas, NV | | | |
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