Category Archives: Payments

DIRECT CONNECT CONTINUES TO ACQUIRE SALES OFFICES WITH PURCHASE OF FLORIDA ISO

CHANTILLY, VA, March 15, 2016 — /EPR NETWORK/ — Direct Connect today announced that it has acquired another payment processing sales portfolio, Merchant Processing Solutions (MPS) in Fort Lauderdale, FLA.

direct connect logo

This transaction is part of Direct Connect’s commitment to growth through acquisition and is the company’s sixth acquisition since being recapitalized by The Beekman Group in 2015.

MPS provides merchant services to more than 500 restaurants and retail businesses across the United States, with more than $100 million in annual processing volume.

Owned jointly by Yamilet Strauss, Claudia Mosley and Diana Lizarazo, the independent sales organization (ISO) is a perfect fit for the Direct Connect business model: it is an active retail ISO acquiring merchants on the First Data platform, but it needed the financial and technological infrastructure and support to compete in today’s rapidly-changing payments infrastructure.

“MPS has grown successfully because of their people, and their top-down commitment to providing service and support to customers,” said Matt Clyne, Direct Connect’s CEO. “Direct Connect adds financial strength and stability, state-of-the-art technology and highly experienced human resources to the mix, making for an unbeatable combination and assured growth for MPS.”

Clyne said Direct Connect purchased five companies in 2015 and has already laid the groundwork for three more acquisitions in the first half of 2016. Direct Connect continues to actively seek out sales offices with low attrition and a commitment to the highest levels of service and support.

ISOs interested in investment capital or acquisitions opportunities are invited to visitwww.directconnectps.com or contact the company at 800.747.6273.

“We intend to be a very active buyer in the marketplace,” Clyne said.

About Direct Connect
Based in the Dulles Corridor of Northern Virginia, Direct Connect provides innovative technology and payment processing services to businesses across the United States and Canada, including retail, restaurant, government contractors and service industries. Through a robust partner program, Direct Connect works with financial institutions, non-profit organizations, associations and software developers to incorporate payment solutions and enhance customer service. With a 20+-year history and more than 25,000 merchants in its portfolio, Direct Connect was recapitalized in 2015 by The Beekman Group, a New York City-based private equity firm positioning us well to meet the ever-changing demands of the industry.

Contact-Details:
Nancy Drexler, Acquired Marketing
ndrexler@acquiredmarketing.com
917-743-5258

Via EPR Network
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Johnson, Morgan and White says that the holidays are recovery time

Recovery firm Johnson, Morgan & White (JMW) reminds business debt holders that the holidays are often a boon for more than just retail sales. Many businesses see much of their annual profits coming in during this time of year and are more willing to work with recovery efforts.

Johnson, Morgan & White CEO and President Robert G. Cooper says that consumer spending the trickle-down effect it has on many businesses, not just those in retail and supply, can mean a higher likelihood of debt recovery this time of year.

“Many businesses have had a rough year this year,” says Cooper. “A slow economic recovery, lackluster consumer spending, and political strife have all been bitter pills to swallow for many businesses in Boca Raton, Florida, and the nation. The good news is that the holiday season is often when many business, from retail to supply to services and more, will see big income spikes. This can mean a good chance for debt recovery as those businesses try to clean the slate for the new year.”

Last year, Johnson, Morgan & White collections were up, despite a less amenable economic outlook, and speed of recovery – the time from first contact by a collector and payment – was nearly double in the fourth quarter.

“Most creditors can expect a higher chance of recovery this time of year,” says Cooper. “It is, however, a delicate process and outstanding debt that has not been collected can often be better serviced by a discreet, professional third party. This often saves business relationships and speeds up collection times.”

The holidays aren’t just a time to celebrate with friends and family, they can also be a time to lift the worries of debt and look forward to a new year.

Via EPR Network
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As The Credit Card Industry Suffers Revenue Losses, Consumers In Need Of a New Line of Credit Option

Overall, the credit card industry earned almost 6% less revenue in 2011 than during the previous year, in large part due to a decrease in the use of credit cards by shoppers and, as a result, less revolving credit that can be subjected to interest charges and fees. While come consumers have made a conscious effort to wean themselves off of spending on credit cards in an attempt to get a handle on their personal debt, others were forced into a credit card-free lifestyle during and after the Great Recession when many card issuers terminated the accounts of risky borrowers. Recent years have seen many lenders competing fiercely amongst themselves in order to pursue only the most creditworthy individuals.

Now with the nation’s economic situation slowly but steadily improving, credit card issuers are feeling more comfortable about relaxing their underwriting standards. This, combined with their acute need to acquire new cardholders in order to shore up some of their revenue losses of late, means that many lenders will looking beyond those with good and excellent credit scores in 2012. This opens up a whole slew of opportunities for people with less-than-perfect credit histories as they can reasonably expect lenders to increase their offering of credit cards for fair credit.

Consumers should beware of rising interest rates on borrowing as credit card issuers flounder to recoup some of their loss of earnings. In fact, experts have reported that going in to the New Year, the average interest rate on consumer credit cards is 15.14%, higher than the 14.75% APR that was the national average just six months ago. One option for consumers to find temporary reprieve from high interest rates is to look into 0 balance transfer credit cards which, when used wisely, can be an invaluable tool when it comes to handling debt.

Credit card companies are going to have to come up with some hard and fast ways to up their revenue over the coming year, whether they resort to raising interest rates, laying off employees, making more unsecured credit cards for bad credit available, some combination of the above or employing another technique altogether.

Via EPR Network
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