Year in Review
UBC I N S I D E R
>>>>>
The Latest News from United Bank Card
VOLUME II - ISSUE IV
>>>>>>
2006 Year in Review After a year filled with accolades and triumph, United Bank Card has once again proven that its position as a market leader is well earned. United Bank Card rocked 2006 by appearing in national news reports, receiving multiple honors and awards and by introducing a variety of revenue enhancing sales programs. Join us as the UBC Insider reviews another exciting year of United Bank Card successes. New Sponsor Bank In April of this year, United Bank Card announced that it had established a new sponsor bank relationship with one of the country's top financial institutions, The First National Bank of Omaha. Through this affiliation, United Bank Card has utilized the payment platform of First National's merchant services division, First National Merchant Solutions. At the time, UBC founder and CEO Jared Isaacman emphasized the importance of the new relationship, stating “United Bank Card's rapid growth and continuously expanding market presence have made it imperative that we affiliate ourselves with one of the largest and most respected financial institutions in the nation.” Taking advantage of the breadth of First National's expansive payment platform has enabled United Bank Card to enhance our merchant offerings. It has also enabled UBC to expedite the process for approving new merchant accounts and created a framework that will allow United Bank Card to easily make future advancements to our payment services. Honors and Awards 2006 proved to be another banner year of awards for United Bank Card and we received recognition from a variety of sources. In August, UBC was named one of “New Jersey's Finest” by NJBIZ Magazine. The prestigious award honors the fifty fastest growing companies in NJ and receiving this award
identified United Bank Card as one of the state's most dynamic companies that has made significant contributions to the strength of its economy. Inc. 500: Round 2 2006 also marked United Bank Card's second consecutive year on the Inc. 500 list of the fastest growing private 6TH FASTEST GROWING companies in the nation! PRIVATE COMPANY As a result of achieving IN THE USA revenue growth of 3,845% from 2002-2005, UBC received the extraordinary ranking of 6th (a jump of 13 spaces from the previous year) on the esteemed list.
2006
In addition to being named among the top 20 two years in a row, United Bank Card also accomplished an Inc. Magazine milestone by being the highest ranked company to ever appear on the Inc. 500 list more than once! Nationally Recognized CEO Naturally, United Bank Card could not have achieved these impressive feats without the guidance of an extraordinary leader. United Bank Card is fortunate to have a true visionary at the helm of our organization in founder and CEO Jared Isaacman, who has succeeded in guiding this company to the forefront of the payment processing industry. In May, Isaacman was named a finalist for the Ernst & Young Entrepreneur Of The Year® award. This award is designed to recognize and celebrate outstanding entrepreneurs and
business leaders and the New Jersey Finalists were selected from an initial pool of 177 companies. In order to be nominated, Isaacman demonstrated excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to his business and community. In addition to being recognized by Ernst & Young, Isaacman was also acknowledged by Inc. Magazine. After United Bank Card received the Inc. 500 ranking, Isaacman was named second among the magazine's “Top 30 Entrepreneurs under 30”. The Inc. List of America's top young entrepreneurs featured individuals who the magazine felt had great potential, as the magazine states “those that have already found business success, through their inventions or ideas or strategies, but whose best days are almost surely still ahead of them”. Inc. Magazine also published an article on Jared Isaacman entitled “The Wunderkind”. After Inc. Magazine acknowledged Isaacman as one of the top entrepreneurs under the age of 30, BusinessWeek Magazine named him one of “The Best Entrepreneurs under 25”. The article dubbed Isaacman “young, fearless, and smart” and featured him as third among the top young entrepreneurs in the United States. United Bank Card certainly experienced a string of accolades in 2006. We have long been considered a market leader within the industry and receiving these honors from external media sources further demonstrates that UBC is not only driving the payments industry, but the U.S. economy as well. United Bank Card in the News Not only was United Bank Card honored by multiple magazines in 2006, it was also featured on two prominent television news programs. In March, United Bank Card CEO Jared Isaacman appeared on the ABC News' March 27th broadcast of Money Matters. The interview, entitled “Every Swipe You Take” continued on page 2
1
UBC I N S I D E R continued from page 1
produced by Rob Simmelkjaer, covered topics such as what credit card processing involves, what United Bank Card's role in a credit card transaction is and United Bank Card's place in the industry. Isaacman was again profiled in October by NBC's Today Show. The segment contained interviews from Jared Isaacman, his family and coworkers and characterized the young CEO as an individual who “sees the connections the rest of us do not”. The piece was produced by reporter Bob Dotson and entitled “An Unlikely Millionaire”. It detailed how at the age of 16, Isaacman established a fledgling credit card processing business in his parents' basement that is now an industry leader. Memorable Events United Bank Card enjoyed another successful showing at the Electronic Transactions Association's 2006 Annual Meeting and Expo in Las Vegas, Nevada. UBC experienced a record number of visitors at our booth, due primarily to the popularity and positive reception of the new 3 cent transaction program. The second Mercedes giveaway awarded a lucky ISO partner with a 36-month lease for a Mercedes SL500. The winner was Amanda Goben, an ISO from Ohio. United Bank Card clearly strived to make the 2006 ETA into one of the most memorable events of the year. However, although the ETA was certainly impressive, it was eclipsed by the United Bank Card's own 2006 Partner Conference. The two-day conference took place on September 21st and 22nd at the Fort Lauderdale Harbor Beach Marriott Spa and Resort. The conference involved educational seminars from industry experts, vendor exhibitions and a variety of entertainment and ended as United Bank Card's most impressive event to date.
[ 2006 holiday party ] overcome. He then honored certain members of the United Bank Card staff for their ongoing contributions to our success. Sophie Kioulos, Director of Marketing; Jason Crocker, Technical Support Supervisor; John Lento, Lead Software Architect; and Jennifer Perez, Underwriter were all given achievement awards and American Express gift cards in recognition of the inspiring effort they apply to their positions on a daily basis. Executive Assistant to the CEO, Tina Williams was also acknowledged for coordinating the party.
United Bank Card once again hosted its immensely popular annual holiday celebration in its traditional location of Merchants New York in Manhattan. Merchants New York offers a classic atmosphere, which is always enjoyed by attendees of the yearly event.
In addition to the achievement awards, two individuals were recognized for the special part they have played over the years in helping to make United Bank Card the industry leader it is today. Relationship Manager Tracey Hickey and Director of IT Tom Stout were named as Employees of the Year. Stout and Hickey have been key members of United Bank Card's management team for many years and both have made a tremendous impact on the company. They were awarded with plaques and American Express gift cards.
Invitations to the party were extended to all of United Bank Card's staff and management as well as our vendors and ISO partners. Over 200 people arrived to partake in the festivities and the party was even attended by actor and comedian Tracey Morgan of Saturday Night Live fame.
After the announcements and awards, guests were treated to a fine dining experience with an abundance of both sweet and savory hors d'oeuvres, which tantalized the guests' palates for a variety of elegant entrees. Dinner was followed by dancing, a slide show and a party with an open top-shelf bar.
This year's celebration commenced with announcements from UBC founder and CEO, Jared Isaacman, who discussed the company's many accomplishments from the year and the challenges that we have
The holiday party ended as one of our most memorable yet. We hope everyone who attended enjoyed this special event and we look forward to seeing you all at next year's celebration.
HOLIDAY PARTY 12 | 07| 2006
New Programs
24-hour In-house Support
United Bank Card continued to lead the industry with innovative new programs in 2006. UBC continues to strives to provide our partners with the flexible pricing and unbeatable merchant support they require to expand their portfolios.
February of this year marked a momentous milestone for UBC as we brought our entire merchant support operation in-house. Customer service and technical support are now provided in-house by United Bank Card employees 24 hours a day, 7 days a week.
3 Cent Transaction Fees
Multilingual Support
As of April, 2006, UBC reduced its transaction fee to 3 cents for dial transactions and 2 cents for IP (internet protocol) transactions. This reduction in cost enabled our ISO partners to maximize their per-transaction earnings and sign aggressively priced merchant contracts.
United Bank Card enhanced its merchant support offerings further in August by launching a multi-language program. United Bank Card is now able to provide the highest quality of customer service and technical support in over 150 languages.
As 2006 draws to a close, it is a pleasure to reflect on the successes of the past year. Looking forward, UBC is preparing to launch a multitude of new and enhanced programs. 2007 promises to be another exciting year and we all look forward to working with our ISO partners in making UBC an even more dominant force in the industry.
Happy Holidays from all of us at United Bank Card
2
UBC I N S I D E R [ employees of the year ] Earlier this month, Tracey Hickey and Tom Stout were both named “Employee of the Year” for the contributions that they have made to United Bank Card and our ISO partners. This honor was well earned and it is certain that Tracey and Tom will continue to enhance United Bank Card with their continued dedication in the future.
Tracey Hickey Relationship Manager One of the most important elements of maintaining a successful sales force is providing them with effective support. No position carries the weight of this responsibility more than the Relationship Manager (RM). The RM can best be described as the “go-to” person, the person who can make everything right and no one epitomizes these qualities more than this month's employee spotlight, Tracey Hickey. Tracey has over 16 years of experience in the bank card industry and during this time, she has amassed an encyclopedic knowledge of payment processing. She began her career with United Jersey Bank (UJB) and she was immediately intrigued by the depth of the industry. After fulfilling her career goals with UJB, Tracey accepted a position with a prominent ISO. She held a variety of positions while employed with this company, including managing the organization's customer service, technical support, underwriting and risk departments. During this period, Tracey had an opportunity to interact with United Bank Card and its CEO, Jared Isaacman. Tracey had learned about United Bank Card from colleagues and after conducting research of her own, she realized that it would be rapidly expanding in the coming years. When Tracey was offered the position of Relationship Manager by Jared Isaacman, she decided it would be an excellent opportunity for her to join a dynamic and innovative company. Her diverse background made her an ideal candidate for the UBC team and she has continually played a key role in the company's success. As a Relationship Manager, Tracey prefers to be very interactive with the ISO partners she works with and strives to help them succeed. She ensures that her ISOs receive the assistance they need to develop profitable merchant portfolios. Tracey's skills have been
extremely valuable to the ISOs she has assisted as an RM for United Bank Card. Tracey was honored by winning the Employee of the Year award, stating “I was totally overwhelmed that senior management recognized my dedication to UBC and our ISO partners. It was truly a great honor and a wonderful feeling.”
"Research the products and services you sell, understand interchange and learn how to analyze a statement." Tracey's commitment to our ISOs has made her an indispensable member of the United Bank Card management team. When asked what advice she had to offer our sales partners, Tracey responded “research the products and services you sell, understand interchange and learn how to analyze a statement. Once you have accomplished that, this business is wide open. Customer service is another key to success; if you maintain a relationship with your clients, they are less likely to leave.”
Tom Stout IT Director One of the founding principles of United Bank Card was an active commitment to developing advanced information technology (IT) solutions. This focus has continually enabled UBC to set itself apart from the competition and for the last four years, one of the primary forces driving our IT department has been IT Director, Tom Stout. Tom began his career with United Bank Card during a six month internship, while pursuing his Bachelors Degree (Management Information Systems) from the Rochester
Institute of Technology. During this period, Tom began to make improvements to UBC's IT infrastructure and was immediately offered the position of Project Manager after graduating. The position offered Tom the opportunity to develop IT skills with an up-and-coming, rapidly growing company in a friendly working environment and he readily accepted. Tom has always been a core member of United Bank Card's team and was promoted to Director of IT in June of 2005. He currently oversees all aspects of our IT initiatives from general support to system design, coding and implementation. Tom's skills are continually utilized by every United Bank Card department and he is distinguished by his attention to detail, diverse competencies and ability to rapidly achieve desired results. Keeping UBC up to date with the latest technologies is not an easy task but Tom enjoys the constant challenge of maintaining our complex IT infrastructure.
"Having even a minimal degree of tech savvy will be enough to strengthen relationships with your business partners." When asked what advice he would like to offer to our sales partners, Tom responded “it is important to be aware of new technologies out there and to set small IT goals for your operation. You will find that having even a minimal degree of tech savvy will be enough to strengthen relationships with your business partners.”
>> dates to watch Northeast Acquirers Association 2007 Winter Seminar & Outing January 30 – February 1 Grand Summit Hotel Mt. Snow, Vermont
3
UBC I N S I D E R [ iso spotlight ] One on One with United Bank Card ISO Nathan Neely
should ask that question of their processor. I know that UBC will always be ready to take care of me as a sales partner.
United Bank Card is fortunate to have the most impressive network of sales partners in the industry. Our independent agents come from a variety of backgrounds and each possesses unique skill sets. The UBC Insider recently had the opportunity to conduct an interview with Nathan Neely, who manages a sales office in California and he was kind enough to share some of the secrets and techniques that have made him successful:
NN: My office operates with a staff of 14 people. I have a receptionist and 3 telemarketers who call and set appointments for my outside sales team. I currently have seven active outside sales reps. We cover a large region, stretching from Los Angeles County through the Bay Area. I also occasionally receive deals from sales reps in other states.
UBC: How long have you been with United Bank Card? NN: I joined UBC as an ISO in November of 2004. I was recruited by Maxwell Sinovoi, who was also a new face at UBC at the time. UBC: What has been your favorite thing about working with UBC? NN: The best thing about being affiliated with United Bank Card is the excellence of the support team; I know and trust the people I work with. Efren Mannino and Max Sinovoi are as valuable to me as my sales reps that are out closing deals in the field. They understand the needs of my office and I am confident that they do everything in their power to support my team. UBC: In your opinion, what sets United Bank Card apart from competing processors? NN: Again, the level of support I receive from United Bank Card is exceptional and cannot be matched by other processors. Even when I was only writing 3-5 deals, I received the same high level of support that I still receive today. Anyone can say that they will support your office when you bring in solid numbers, but will they still be there to support you and help your business grow when you are small or have a difficult month? I think everyone
NN: My new merchant count typically varies between 25 and 50 accounts per month. I have found that maintaining a consistent sales effort is the best way to keep up impressive monthly app counts. UBC: What strategies do you use to close a deal? NN: I never mention or acknowledge the competition, except when doing a rate comparison. I consistently reinforce the ideal to my sales reps that they should sell a merchant on the level of service that they can provide them with rather than trying to match the prices of the competition. It is necessary to educate the merchant on what it is we actually do and that we are a partner with them in their business. It is very important for a merchant to understand that our success is directly tied to theirs and that we will do everything we can to make sure the merchant's business is successful.
NN: Targeting referral businesses has helped my office a lot. After I developed a substantial portfolio of accounts, I went back to my existing merchants and asked for referrals. This technique can result in substantial growth of an ISO's business. UBC: What is your favorite second revenue stream? NN: Prepaid has been my most successful additional revenue stream; it is an excellent add-on sale if approached properly. I am currently exploring the merchant funding program and I must say that it looks very exciting. UBC: What is the most important bit of advice you could offer to your fellow sales agents? NN: Don't have a one night stand with your merchants. What I mean by this is that everyone loves their merchants when they sign the paperwork. However, are you still going to treat them the same way when the merchant calls at 3:00 a.m. asking how to batch out their terminal? If your answer is yes, then you are on your way to creating a substantial and profitable portfolio of accounts.
NOW AVAILABLE!
New and Improved Gift & Loyalty Card Program United Bank Card has revamped our gift card offerings with improved support and new sales options to help you close every deal! Visit www.interactiveiso.com to learn more. GIFT CARD
MochaJava
giovanni's
F I N E S P E C I A LT Y C O F F E E S
GIFT CARD ITALIAN RISTOURANTE
GIFT CARD
NN: I have been in the business since 2002. I started working in an inbound call center as a sales representative for an established company. It could have been considered a “boiler room” environment but it did expose me to the many opportunities this industry had to offer. After a Christmas party at the CEO's mansion in the hills overlooking the Pacific Ocean, I decided this was the career for me.
UBC: How many accounts do you typically acquire in a month?
UBC: What has been the most effective method of increasing your sales?
MusicLand
UBC: Nathan, thank you for taking the time to share some of your bankcard experiences. How were you initially introduced to the credit card processing industry and how long have you been in the business?
UBC: Tell us about the operating dynamics of your office?
I also never make promises I cannot keep. I often tell merchants "I cannot promise you that you will never have problems with your service, but I will promise that if you ever do run into an issue, I will do everything in my power to fix it." I know that the merchants I work with are well informed and always treat them with respect.
4
>>>>>
The Latest News from United Bank Card
VOLUME II - ISSUE IV
>>>>>>
2006 Year in Review After a year filled with accolades and triumph, United Bank Card has once again proven that its position as a market leader is well earned. United Bank Card rocked 2006 by appearing in national news reports, receiving multiple honors and awards and by introducing a variety of revenue enhancing sales programs. Join us as the UBC Insider reviews another exciting year of United Bank Card successes. New Sponsor Bank In April of this year, United Bank Card announced that it had established a new sponsor bank relationship with one of the country's top financial institutions, The First National Bank of Omaha. Through this affiliation, United Bank Card has utilized the payment platform of First National's merchant services division, First National Merchant Solutions. At the time, UBC founder and CEO Jared Isaacman emphasized the importance of the new relationship, stating “United Bank Card's rapid growth and continuously expanding market presence have made it imperative that we affiliate ourselves with one of the largest and most respected financial institutions in the nation.” Taking advantage of the breadth of First National's expansive payment platform has enabled United Bank Card to enhance our merchant offerings. It has also enabled UBC to expedite the process for approving new merchant accounts and created a framework that will allow United Bank Card to easily make future advancements to our payment services. Honors and Awards 2006 proved to be another banner year of awards for United Bank Card and we received recognition from a variety of sources. In August, UBC was named one of “New Jersey's Finest” by NJBIZ Magazine. The prestigious award honors the fifty fastest growing companies in NJ and receiving this award
identified United Bank Card as one of the state's most dynamic companies that has made significant contributions to the strength of its economy. Inc. 500: Round 2 2006 also marked United Bank Card's second consecutive year on the Inc. 500 list of the fastest growing private 6TH FASTEST GROWING companies in the nation! PRIVATE COMPANY As a result of achieving IN THE USA revenue growth of 3,845% from 2002-2005, UBC received the extraordinary ranking of 6th (a jump of 13 spaces from the previous year) on the esteemed list.
2006
In addition to being named among the top 20 two years in a row, United Bank Card also accomplished an Inc. Magazine milestone by being the highest ranked company to ever appear on the Inc. 500 list more than once! Nationally Recognized CEO Naturally, United Bank Card could not have achieved these impressive feats without the guidance of an extraordinary leader. United Bank Card is fortunate to have a true visionary at the helm of our organization in founder and CEO Jared Isaacman, who has succeeded in guiding this company to the forefront of the payment processing industry. In May, Isaacman was named a finalist for the Ernst & Young Entrepreneur Of The Year® award. This award is designed to recognize and celebrate outstanding entrepreneurs and
business leaders and the New Jersey Finalists were selected from an initial pool of 177 companies. In order to be nominated, Isaacman demonstrated excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to his business and community. In addition to being recognized by Ernst & Young, Isaacman was also acknowledged by Inc. Magazine. After United Bank Card received the Inc. 500 ranking, Isaacman was named second among the magazine's “Top 30 Entrepreneurs under 30”. The Inc. List of America's top young entrepreneurs featured individuals who the magazine felt had great potential, as the magazine states “those that have already found business success, through their inventions or ideas or strategies, but whose best days are almost surely still ahead of them”. Inc. Magazine also published an article on Jared Isaacman entitled “The Wunderkind”. After Inc. Magazine acknowledged Isaacman as one of the top entrepreneurs under the age of 30, BusinessWeek Magazine named him one of “The Best Entrepreneurs under 25”. The article dubbed Isaacman “young, fearless, and smart” and featured him as third among the top young entrepreneurs in the United States. United Bank Card certainly experienced a string of accolades in 2006. We have long been considered a market leader within the industry and receiving these honors from external media sources further demonstrates that UBC is not only driving the payments industry, but the U.S. economy as well. United Bank Card in the News Not only was United Bank Card honored by multiple magazines in 2006, it was also featured on two prominent television news programs. In March, United Bank Card CEO Jared Isaacman appeared on the ABC News' March 27th broadcast of Money Matters. The interview, entitled “Every Swipe You Take” continued on page 2
1
UBC I N S I D E R continued from page 1
produced by Rob Simmelkjaer, covered topics such as what credit card processing involves, what United Bank Card's role in a credit card transaction is and United Bank Card's place in the industry. Isaacman was again profiled in October by NBC's Today Show. The segment contained interviews from Jared Isaacman, his family and coworkers and characterized the young CEO as an individual who “sees the connections the rest of us do not”. The piece was produced by reporter Bob Dotson and entitled “An Unlikely Millionaire”. It detailed how at the age of 16, Isaacman established a fledgling credit card processing business in his parents' basement that is now an industry leader. Memorable Events United Bank Card enjoyed another successful showing at the Electronic Transactions Association's 2006 Annual Meeting and Expo in Las Vegas, Nevada. UBC experienced a record number of visitors at our booth, due primarily to the popularity and positive reception of the new 3 cent transaction program. The second Mercedes giveaway awarded a lucky ISO partner with a 36-month lease for a Mercedes SL500. The winner was Amanda Goben, an ISO from Ohio. United Bank Card clearly strived to make the 2006 ETA into one of the most memorable events of the year. However, although the ETA was certainly impressive, it was eclipsed by the United Bank Card's own 2006 Partner Conference. The two-day conference took place on September 21st and 22nd at the Fort Lauderdale Harbor Beach Marriott Spa and Resort. The conference involved educational seminars from industry experts, vendor exhibitions and a variety of entertainment and ended as United Bank Card's most impressive event to date.
[ 2006 holiday party ] overcome. He then honored certain members of the United Bank Card staff for their ongoing contributions to our success. Sophie Kioulos, Director of Marketing; Jason Crocker, Technical Support Supervisor; John Lento, Lead Software Architect; and Jennifer Perez, Underwriter were all given achievement awards and American Express gift cards in recognition of the inspiring effort they apply to their positions on a daily basis. Executive Assistant to the CEO, Tina Williams was also acknowledged for coordinating the party.
United Bank Card once again hosted its immensely popular annual holiday celebration in its traditional location of Merchants New York in Manhattan. Merchants New York offers a classic atmosphere, which is always enjoyed by attendees of the yearly event.
In addition to the achievement awards, two individuals were recognized for the special part they have played over the years in helping to make United Bank Card the industry leader it is today. Relationship Manager Tracey Hickey and Director of IT Tom Stout were named as Employees of the Year. Stout and Hickey have been key members of United Bank Card's management team for many years and both have made a tremendous impact on the company. They were awarded with plaques and American Express gift cards.
Invitations to the party were extended to all of United Bank Card's staff and management as well as our vendors and ISO partners. Over 200 people arrived to partake in the festivities and the party was even attended by actor and comedian Tracey Morgan of Saturday Night Live fame.
After the announcements and awards, guests were treated to a fine dining experience with an abundance of both sweet and savory hors d'oeuvres, which tantalized the guests' palates for a variety of elegant entrees. Dinner was followed by dancing, a slide show and a party with an open top-shelf bar.
This year's celebration commenced with announcements from UBC founder and CEO, Jared Isaacman, who discussed the company's many accomplishments from the year and the challenges that we have
The holiday party ended as one of our most memorable yet. We hope everyone who attended enjoyed this special event and we look forward to seeing you all at next year's celebration.
HOLIDAY PARTY 12 | 07| 2006
New Programs
24-hour In-house Support
United Bank Card continued to lead the industry with innovative new programs in 2006. UBC continues to strives to provide our partners with the flexible pricing and unbeatable merchant support they require to expand their portfolios.
February of this year marked a momentous milestone for UBC as we brought our entire merchant support operation in-house. Customer service and technical support are now provided in-house by United Bank Card employees 24 hours a day, 7 days a week.
3 Cent Transaction Fees
Multilingual Support
As of April, 2006, UBC reduced its transaction fee to 3 cents for dial transactions and 2 cents for IP (internet protocol) transactions. This reduction in cost enabled our ISO partners to maximize their per-transaction earnings and sign aggressively priced merchant contracts.
United Bank Card enhanced its merchant support offerings further in August by launching a multi-language program. United Bank Card is now able to provide the highest quality of customer service and technical support in over 150 languages.
As 2006 draws to a close, it is a pleasure to reflect on the successes of the past year. Looking forward, UBC is preparing to launch a multitude of new and enhanced programs. 2007 promises to be another exciting year and we all look forward to working with our ISO partners in making UBC an even more dominant force in the industry.
Happy Holidays from all of us at United Bank Card
2
UBC I N S I D E R [ employees of the year ] Earlier this month, Tracey Hickey and Tom Stout were both named “Employee of the Year” for the contributions that they have made to United Bank Card and our ISO partners. This honor was well earned and it is certain that Tracey and Tom will continue to enhance United Bank Card with their continued dedication in the future.
Tracey Hickey Relationship Manager One of the most important elements of maintaining a successful sales force is providing them with effective support. No position carries the weight of this responsibility more than the Relationship Manager (RM). The RM can best be described as the “go-to” person, the person who can make everything right and no one epitomizes these qualities more than this month's employee spotlight, Tracey Hickey. Tracey has over 16 years of experience in the bank card industry and during this time, she has amassed an encyclopedic knowledge of payment processing. She began her career with United Jersey Bank (UJB) and she was immediately intrigued by the depth of the industry. After fulfilling her career goals with UJB, Tracey accepted a position with a prominent ISO. She held a variety of positions while employed with this company, including managing the organization's customer service, technical support, underwriting and risk departments. During this period, Tracey had an opportunity to interact with United Bank Card and its CEO, Jared Isaacman. Tracey had learned about United Bank Card from colleagues and after conducting research of her own, she realized that it would be rapidly expanding in the coming years. When Tracey was offered the position of Relationship Manager by Jared Isaacman, she decided it would be an excellent opportunity for her to join a dynamic and innovative company. Her diverse background made her an ideal candidate for the UBC team and she has continually played a key role in the company's success. As a Relationship Manager, Tracey prefers to be very interactive with the ISO partners she works with and strives to help them succeed. She ensures that her ISOs receive the assistance they need to develop profitable merchant portfolios. Tracey's skills have been
extremely valuable to the ISOs she has assisted as an RM for United Bank Card. Tracey was honored by winning the Employee of the Year award, stating “I was totally overwhelmed that senior management recognized my dedication to UBC and our ISO partners. It was truly a great honor and a wonderful feeling.”
"Research the products and services you sell, understand interchange and learn how to analyze a statement." Tracey's commitment to our ISOs has made her an indispensable member of the United Bank Card management team. When asked what advice she had to offer our sales partners, Tracey responded “research the products and services you sell, understand interchange and learn how to analyze a statement. Once you have accomplished that, this business is wide open. Customer service is another key to success; if you maintain a relationship with your clients, they are less likely to leave.”
Tom Stout IT Director One of the founding principles of United Bank Card was an active commitment to developing advanced information technology (IT) solutions. This focus has continually enabled UBC to set itself apart from the competition and for the last four years, one of the primary forces driving our IT department has been IT Director, Tom Stout. Tom began his career with United Bank Card during a six month internship, while pursuing his Bachelors Degree (Management Information Systems) from the Rochester
Institute of Technology. During this period, Tom began to make improvements to UBC's IT infrastructure and was immediately offered the position of Project Manager after graduating. The position offered Tom the opportunity to develop IT skills with an up-and-coming, rapidly growing company in a friendly working environment and he readily accepted. Tom has always been a core member of United Bank Card's team and was promoted to Director of IT in June of 2005. He currently oversees all aspects of our IT initiatives from general support to system design, coding and implementation. Tom's skills are continually utilized by every United Bank Card department and he is distinguished by his attention to detail, diverse competencies and ability to rapidly achieve desired results. Keeping UBC up to date with the latest technologies is not an easy task but Tom enjoys the constant challenge of maintaining our complex IT infrastructure.
"Having even a minimal degree of tech savvy will be enough to strengthen relationships with your business partners." When asked what advice he would like to offer to our sales partners, Tom responded “it is important to be aware of new technologies out there and to set small IT goals for your operation. You will find that having even a minimal degree of tech savvy will be enough to strengthen relationships with your business partners.”
>> dates to watch Northeast Acquirers Association 2007 Winter Seminar & Outing January 30 – February 1 Grand Summit Hotel Mt. Snow, Vermont
3
UBC I N S I D E R [ iso spotlight ] One on One with United Bank Card ISO Nathan Neely
should ask that question of their processor. I know that UBC will always be ready to take care of me as a sales partner.
United Bank Card is fortunate to have the most impressive network of sales partners in the industry. Our independent agents come from a variety of backgrounds and each possesses unique skill sets. The UBC Insider recently had the opportunity to conduct an interview with Nathan Neely, who manages a sales office in California and he was kind enough to share some of the secrets and techniques that have made him successful:
NN: My office operates with a staff of 14 people. I have a receptionist and 3 telemarketers who call and set appointments for my outside sales team. I currently have seven active outside sales reps. We cover a large region, stretching from Los Angeles County through the Bay Area. I also occasionally receive deals from sales reps in other states.
UBC: How long have you been with United Bank Card? NN: I joined UBC as an ISO in November of 2004. I was recruited by Maxwell Sinovoi, who was also a new face at UBC at the time. UBC: What has been your favorite thing about working with UBC? NN: The best thing about being affiliated with United Bank Card is the excellence of the support team; I know and trust the people I work with. Efren Mannino and Max Sinovoi are as valuable to me as my sales reps that are out closing deals in the field. They understand the needs of my office and I am confident that they do everything in their power to support my team. UBC: In your opinion, what sets United Bank Card apart from competing processors? NN: Again, the level of support I receive from United Bank Card is exceptional and cannot be matched by other processors. Even when I was only writing 3-5 deals, I received the same high level of support that I still receive today. Anyone can say that they will support your office when you bring in solid numbers, but will they still be there to support you and help your business grow when you are small or have a difficult month? I think everyone
NN: My new merchant count typically varies between 25 and 50 accounts per month. I have found that maintaining a consistent sales effort is the best way to keep up impressive monthly app counts. UBC: What strategies do you use to close a deal? NN: I never mention or acknowledge the competition, except when doing a rate comparison. I consistently reinforce the ideal to my sales reps that they should sell a merchant on the level of service that they can provide them with rather than trying to match the prices of the competition. It is necessary to educate the merchant on what it is we actually do and that we are a partner with them in their business. It is very important for a merchant to understand that our success is directly tied to theirs and that we will do everything we can to make sure the merchant's business is successful.
NN: Targeting referral businesses has helped my office a lot. After I developed a substantial portfolio of accounts, I went back to my existing merchants and asked for referrals. This technique can result in substantial growth of an ISO's business. UBC: What is your favorite second revenue stream? NN: Prepaid has been my most successful additional revenue stream; it is an excellent add-on sale if approached properly. I am currently exploring the merchant funding program and I must say that it looks very exciting. UBC: What is the most important bit of advice you could offer to your fellow sales agents? NN: Don't have a one night stand with your merchants. What I mean by this is that everyone loves their merchants when they sign the paperwork. However, are you still going to treat them the same way when the merchant calls at 3:00 a.m. asking how to batch out their terminal? If your answer is yes, then you are on your way to creating a substantial and profitable portfolio of accounts.
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NN: I have been in the business since 2002. I started working in an inbound call center as a sales representative for an established company. It could have been considered a “boiler room” environment but it did expose me to the many opportunities this industry had to offer. After a Christmas party at the CEO's mansion in the hills overlooking the Pacific Ocean, I decided this was the career for me.
UBC: How many accounts do you typically acquire in a month?
UBC: What has been the most effective method of increasing your sales?
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UBC: Nathan, thank you for taking the time to share some of your bankcard experiences. How were you initially introduced to the credit card processing industry and how long have you been in the business?
UBC: Tell us about the operating dynamics of your office?
I also never make promises I cannot keep. I often tell merchants "I cannot promise you that you will never have problems with your service, but I will promise that if you ever do run into an issue, I will do everything in my power to fix it." I know that the merchants I work with are well informed and always treat them with respect.
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