Fast, reliable credit card processing for your customers, a new revenue stream for you.
Your business customers process electronic transactions every day, accepting hundreds or thousands of credit cards, debit cards, gift cards and other types of electronic payment. Who is benefiting from those transactions? You, or one of your competitors?
Or, if you already have a payment processing program, is it meeting your customers’ needs? Is the program limited to credit cards? Are your customers getting the best rates? Do they get assistance with setup, fraud prevention and security compliance? And is the program really paying for itself, or do you spend too much time acquiring and servicing the accounts?
NXGEN offers a complete merchant services program for banks, credit unions and other financial institutions. You can provide your business accounts with a complete range of payment processing services, including:
• Credit card processing
• Debit card processing
• Wireless processing
• Internet processing
• Electronic gift/loyalty cards
• Next-day funding
At the same time, you build an additional revenue stream from your existing customer base. Financial institutions receive an ongoing commission on the transaction fees generated by their program participants.
Benefits for You
Partnering with NXGEN enables you to implement a comprehensive merchant services program and develop an ongoing residual income stream with minimal risk or expense. That’s because, unlike some credit card processors, NXGEN will be actively involved in developing and administering the program.
From underwriting and on-boarding to installation and continued maintenance of the account, NXGEN does the work while you enjoy the benefits, including:
• Monthly residual income
• No competition with existing services
• Minimal time requirements for program and account management
• Reduced training requirements for new account personnel
• Barriers to competition—Increased stickiness of existing business accounts
• Assistance in managing account relationships
• Value-adds for customer acquisition
But the most important benefit of the program may be its simplicity. Too often financial institutions attempt to offer credit card processing to their customers and find themselves dealing with time-consuming issues like security, telephone lines, software or hardware integration and the constant changes in payment industry practices, instead of being able to focus on customer acquisition.
That’s not the case with NXGEN. We can provide marketing and advertising materials at no cost or through a co-op arrangement, depending on the specifics of your program. And, once you refer a prospective customer, we not only handle the sales process but provide help with implementation, training and ongoing customer support for the life of the account.
Benefits for Your Customers
NXGEN’s merchant services program isn’t just a good deal for you, it’s a good deal for your customers. Not only can you offer them one-stop shopping for all of their banking and payment processing needs, but you can lower their costs in the process.
That’s important because payment processing is one of the top five costs for most businesses. After over 20 years of working with companies and financial institutions throughout the world, we understand how to set up each company to get the lowest possible rates. Typically, we can save businesses hundreds, or even thousands, of dollars a month in processing fees.
And because NXGEN is a technology company, not just a merchant service provider (MSP), we can also offer your members payment gateways, terminal applications, mobile technology or other software or hardware solutions for payment processing, or help them integrate their existing software or web sites with our processing network.
Your Program, Your Way
While NXGEN does all of the work, we never forget that this is your program for your customers. While many financial institutions prefer to hand off all responsibility for sales and customer services to an MSP, some prefer to be more actively involved. That’s why we offer a choice of programs.
Full-Service Program: This option offers a virtually turn-key solution for setting up a merchant services program. NXGEN handles the work and assumes the risk and liability. We partner with you to develop a marketing plan and roll out the program. As your employees work with commercial and small business customers, they simply offer a free analysis of their credit card processing fees and refer the interested prospects to NXGEN. We take it from there, handling sales, implementation, training and ongoing support for the life of the account. Your employees will receive a one-time commission for each approved referral and you receive an additional, ongoing revenue stream from the account.
Self-Administered Program: With this option, the financial institution assumes the primary responsibility for marketing, sales and customer support, with assistance from NXGEN in developing marketing plans, creating sales materials and educating your employees. Self-administered programs offer institutions the most control over the customer relationship. They also offer higher commissions since the institution handles the majority of the work involved in acquiring and servicing the account.
Performance and Accountability
Regardless of which program you choose, NXGEN provides full transparency throughout the process. You will have access to a Web-based portfolio management system that provides full tracking and reporting on both new applicants and existing accounts.
Available information includes:
• Application status
• Referral status
• Merchant processing statistics
• PCI compliance
• Commission tracking
• Merchant performance reporting
You can also monitor your own performance as well as that of participating merchants. View, rank and evaluate referral activity and program performance for individual employee’s or branches as well as your entire organization. And, for institutions that choose a self-administered program and handles sales internally, the system offers a complete set of sales management functions, including a dashboard, call lists and referral pipeline.
Getting Started With NXGEN
NXGEN makes it easy to offer a complete merchant services program. Think about the benefits this type of program offers to you and to your customers—lower costs for them, improved customer retention and acquisition for you—and run the numbers on the incremental bottom line profit you’d enjoy from the additional revenue stream.
Then call us and let’s discuss how to make it happen. Or click here email@example.com to get started.