By John Manasso

Ten years into its existence, International Bancard is doing its part to help transform Michigan from a Rust Belt economy to a high-tech economy.

In December 2009, the company quadrupled its office space with a new headquarters building in Clawson, Michigan, just 20 miles north of Detroit, with the stated goal of adding 150 jobs. Not long after the move, International Bancard won a request for proposal to run the merchant sales program of Citizens Republic Bancorp Inc., the oldest bank based in Michigan, with more than 218 offices throughout the Midwest.

In the short time since, International Bancard’s top-line growth has improved by 27 percent, according to one high-level company executive.

Along the way, International Bancard earned a worker training tax credit worth $1.1 million over seven years in July 2010 from the Michigan Economic Development Corp. The company’s news release at the time said it would “develop a 40-hour program that will teach the history of the bankcard industry as well as the math behind interchange rates charged by the card-issuing associations and other aspects of what has become a booming financial services business.” The program is administered with the help of a local community college.

Recruiting Quality

In trying to build International Bancard into a powerhouse, CEO David Iafrate recruits in growing Sunbelt states like Texas, Florida, and Georgia, where the payments industry is flourishing. Luring staff is not always an easy feat, considering Michigan’s colder climate. To help recruit and to grow the company in general, Iafrate says International Bancard is investing “very heavily” in itself.

“Not only have we invested in facilities, infrastructure, and technology, but in training for our staff,” Iafrate says. “It’s a very, very big investment. It’s paid off because what that’s done for us is it’s really given our organization a lift, as far as people interested in coming to work here. We’re getting tremendous hits on our corporate website and on LinkedIn. We’re starting to get noticed.

“It’s a long-term deal with us,” he continues. “In this business, there is a lot of churn-and-burn with merchants and salespeople, but we retain very well here. I think it all comes down to putting the time in with an individual and giving people the tools to be successful.”In 2010, International Bancard set a goal to grow by a factor of four over the five ensuing years. The new headquarters building, in which the company invested more than $2 million after moving from nearby Royal Oak, is part of an approach that is both inward and outward.

“When I built this facility out, I had to say, ‘Hey, the kids are graduating from University of Michigan, Michigan State, Wayne State, and I want them to come here and check this out,’” Iafrate says about the cosmetic approach to the building. “So I built something that has polished concrete floors, to give you a visual—very lofty, brick, woodbeams shooting through glass, lounges, just really cool—so that I cater to the ‘X,’ the ‘Y,’ and the baby boomers. I can’t be too off the charts here because I have CEOs of banks coming here, so it kind of caters to everybody. When people come through from the state or out-of-state banks or wherever, they’re like, ‘Wow, this is beautiful.’”

Luring Major Players

International Bancard is also focused on reeling in the big fish. Company executives talk about not only leveraging relationships with high-level corporate executives but also putting forth value propositions that make it impossible for the executives to say no.

Iafrate cites a three-pronged approach that helped the company win the account for Citizens Bank, which has branches outside the state in Ohio, Wisconsin, and Indiana.

The first part of International Bancard’s plan to win the RFP was to put people where the Citizens branches are. “We have an approach where we have district managers in the field that work for us, and, obviously, we have relationship managers on the inside in the call center,” Iafrate says. “That was one of the things—and also our service level.”The ISO instituted a policy where merchants are guaranteed a call back in 60 seconds. International Bancard also invested in software as the final part of its winning strategy.“I think one of the very big determining factors was the real-time visibility of our [customer relationship management] portal system that we built that the bank has access to,” Iafrate says. “Sometimes [the ISO’s software] may not be as visible, so we custom-built a solution off of our main platform to give the banks real-time visibility at a very granular level so they could determine who was contributing to the program.” Iafrate adds that International Bancard is a “very highly technologically advanced company, but we’re kind of under the radar. Companies 10 times our size don’t have systems like this.”

lafrate describes the technology as a “ticketing-based system that lets us track the prospecting and on-boarding functions of a client.” The system then shares the data with the company’s sales partners (agents) and referral partners, and, in some cases, also shares the transaction data with the company’s customers. “It’s really a slick program. And it shows the status as to where the deal is inside of our system at all times, so it’s visible to the entire organization.”

Customizing Solutions

While Citizens Bank has been one of the big targets International Bancard has landed, there’s another. In terms of big-box retailers, International Bancard’s biggest client is Staples. International Bancard designed a “Business Express” program for Staples that made it easier and more affordable for merchants to sign up. That was where the 60-second guaranteed callback came in. Another component was to create video tutorials to walk new merchants through the process of starting up.

“What we’re trying to do is to package a merchant services program up at a point of sale where it normally isn’t available,” explains an International Bancard executive who helped design Business Express. “For example, most people go to their bank when they want to set up a merchant account or they go online. We’re saying, ‘Why wouldn’t you go to Staples?’ When you’re there getting your office supplies and it triggers the thought of, ‘Hey, I’m buying a cash register, I need to be able to accept credit card payments as well. There’s a terminal
here. Gee, it’s a great value, and I can go online and activate the account.’ So it’s just really meeting the consumer where they are with the solution that they need.”

It’s an approach that seems to work.

WORDSTOTHEWISE

• Pick a strength. “Be true to yourself, who you are, and what you’re good at,” says one high-level International Bancard executive with extensive experience in marketing. “Stay focused on that. Too many ISOs try to do too many things, and they fall outside their skill sets.”
• Don’t get consumed by fads. “Make a plan and work your plan,” says CEO David Iafrate. “I can’t tell you how many times I’ve seen merchant-level salespeople and smaller ISOs get derailed by reading something and thinking, ‘This is the next big wave.’ Focus on and make a plan and execute a plan.” As an example, Iafrate says that if an ISO plans on going after veterinarians, focus on veterinarians. “Be the best you can be,” he says. “Too many people are too scattered and have too many programs and too many ideas, and they don’t have capital to execute on that. I have that conversation with my sales managers every day. I think you’ve really got to come up with your niche. It couldn’t be more true.”
• Be innovative. “One thing I think is very important is to think outside of the box,” Iafrate says. “[We] try to make things easy for a merchant to sign up with us. A lot of people are outward facing and don’t look at what the client is facing: ‘Look at me, look at my website.’ Think about the client and client’s needs. What does the client going into the bank want to see?”

Original article @ TRANSACTION trends November 2011 Issue  p. 16

UCaughtMyEye.com is a new national referral program that leverages relationships among the following key audiences:

• Fundraising organizations looking to diversify revenue streams and drive additional income to aid good causes based solely on who they know.
• College students, sorority-fraternity fundraising events, college-university admissions; financial services departments and all on-campus sources.
• Underemployed account executives, sales specialists, part-time retired sales pros looking to build diversified income.

“UCaughtMyEye.com is International Bancard’s innovative way of helping Americans in today’s unique economic times,” said David Iafrate, the company’s CEO. “It is our hope that participants in the new program will appreciate a quick and seamless way to earn additional income.”

Those who enjoy networking and are looking for quick, easy and convenient ongoing monthly income can sign-up online at UCaughtMyEye.com to become a referral associate in order to begin their referrals. The UCaughtMyEye team at International Bancard will take it from there.
International Bancard provides the referred business owner or merchant a complimentary credit, debit and check processing statement analysis to ensure their accounts are setup correctly so that they’re getting the best rates. The results are presented to the business owner as a single comprehensive solution.
When the business begins processing transactions with International Bancard, the referral associates quickly earn a $100 referral bonus and monthly recurring revenue. Simply put, every time a consumer swipes their credit or debit card with the merchant, referred by one of the UCaughtMyEye.com associates, the referral associate earns income for as long as the merchant is processing with International Bancard under the terms of a standard Merchant Agreement. For more information about how the referral payment plan works, please visit, www.ucaughtmyeye.com/getpaid.

“We created this program so everybody gets something, it’s a win-win that helps referral associates, merchants and our company,” said Iafrate. “Referral associates have a new way of earning income based on referring business owners that they know and trust. Businesses will benefit by getting competitive pricing and superior customer service from International Bancard.”

“Fundraising organizations benefit from income they receive from every credit card swiped at all participating businesses. Most importantly, all of us will work together to generate meaningful sums that will make a difference for everyone involved and garner positive feedback about how this opportunity is a hand up versus a handout,” Iafrate added.

To learn more about this innovative program, or to become a revenue-driving referral associate, visit www.UCaughtMyEye.com or call (877) 280-4160.

More about International Bancard at www.internationalbancard.com.

Original article @ CBS Detroit

All merchants are at risk for having sensitive data — such as customer card data — stolen. This kind of theft from security breaches at merchant locations — both large and small — has cost merchants millions of dollars in fines, restitution and reputation. Although nothing can completely eliminate your exposure to the potential theft of cardholder data, ensuring your compliance with PCI DSS will help reduce your risk significantly.

In order to improve your level of compliance with PCI DSS, International Bancard has partnered with Security Metrics to help you complete the Self Assessment Questionnaire (SAQ). To complete this required SAQ, please click here and go to www.SecurityMetrics.com to “enroll” or call 866-692-7544.

International Bancard assesses a $16.95 fee for every month that merchants remain “out of compliance” and have not completed the SAQ at Security Metrics.This fee is being assessed in connection with International Bancard’s contractual commitments to the Card Associations and in an effort to comply with PCI DSS. Payment of this monthly assessment does not ensure your compliance with the PCI DSS or any law, rule or regulation related to cardholder data security. The payment of such fee does not relieve you of your responsibility to comply with all rules and regulations related to cardholder data security.

All merchants must validate their PCI DSS compliance within 90 days from the date of the PCI DSS Service Fee billing. All merchants, no matter the size, are responsible for completing an annual Self Assessment Questionnaire (SAQ) and, if applicable completing a quarterly scan with an Approved Scan Vendor (ASV).

The payment of such fee does not relieve you of your responsibility to comply with all rules and regulations related to cardholder data security.

If you have already completed your Self Assessment Questionnaire (SAQ), and vulnerability scan (if applicable), for the calendar year of 2010, please fax your certificate of compliance to 877.649.0021.

These non-compliance issues occurred when processors did not encrypt transaction data, thereby exposing its customer data to on-line thieves across the globe. International Bancard’s processing solution utilizes a load-balanced multi-infrastructure approach that ensures secure, PCI compliant transmissions each time, every time.   International Bancard provides more detail in its latest on-line Merchant Services newsletter – Financial Transaction News.   International Bancard’s processing partner was named by Forbes Magazine as “one of the best and most secure companies to work with and for…” in the February, 2009 edition of the Magazine.   How Important is This?  Let’s Visit the Story Again – quoting the Associated Press now….
The revelation this week….by the sixth largest payment processor in the U.S., that criminals had secretly installed spying software on its computer network could go down as one of the biggest data breaches on record…

….the security hole that allowed criminals to infiltrate their systems, but the matter is far from settled.  The company will likely have to pay for big penalties to banks to reimburse the cost if issuing new cards, and analysts say the intrusion could even threaten the company’s survival if the big card brands decide to cut off COMPANY NAME from connecting to their networks….the potential damage could be very large because COMPANY NAME from connecting to their networks….the potential damage could be very large because COMPANY NAME processes 100 million transactions a month, mostly for small to medium-sized businesses.   The company says the average merchant in its network does about $350,000 a year in Visa and MasterCard transactions….

Unlike a breach involving a single merchant, where the retailer risks losing its customers’ confidence, a payment processor that’s breached risks losing the confidence of its merchants….consumers typically don’t have to pay for fraudulent charges on their accounts, whereas merchants can be saddled with big costs when their businesses are the victims of fraud.

The story went on to point out that this large provider did not have separate networks for its processing and corporate cyber-activity.   The malware that the thieves attached to this huge processing firms’ infrastructure could have been attached by any number of methods….

When you compare and contrast this to International Bancard and its processing partners – the local on-site technical support, its proprietary CRM application and solutions providers that bring this Global Mega Data center multi-million processing option that’s untraceable by these 24 x 7 x 365 thieves – there clearly is an International Bancard difference….

Royal Oak, MI – As North America and the International world economy evolves toward what many commerce and economic experts predict will be a cashless society (2012?), an emerging and innovative Royal Oak based financial services company is driving revenue, being challenged with management of rapid human and brick-mortar expansion while bringing positives back home to the State of Michigan.

Let us introduce you to International Bancard Corporation.
“We’re a unique financial services organization that is proud of our dedication and profit-driving initiatives that bring revenue generated nationally back to Michigan,” said David Iafrate, President and CEO of International Bancard Corporation. “When we started this organization over 8-years ago, one of the key missions of our enterprise was and always will be to ensure financial and lifestyle rewards for both our direct employees and the vendors whom we collaborate with to drive our business.

“I’m happy to report that International Bancard is annually enjoying near double-growth rates,” Iafrate said.

Michigan Economic Development Corporation President James Epolito joins Michigan Governor Jennifer Granholm announcing Tax Incentives for International Bancard Corporation – along with 15other esteemed State businesses – on July 15, 2008.

And, coupled with Michigan Governor Jennifer Granholm holding up International Bancard’s industry under a positive future growth industry spotlight in a mid-March front-page Detroit News story (Michigan to Get 3,000 jobs, Governor touts expansion by 10 firms, including Credit Card Processor in Troy, 3-12-08, Detroit News) International Bancard is poised to help lead Michigan’s comeback and economic diversification story as well. International Bancard just opened a new office in Grand Rapids and is looking to expand at other locations, based on business need, throughout the State. International Bancard is looking to hire between 100 and 200 employees branching from Michigan and across the continent.

“We employ over 100 employees throughout North America presently and can set up shop anywhere,” Iafrate said. “It’s our hope to continue to stay in Michigan and to help aid state growth and progress. We want to get the word out that we’re looking to hire skilled employees who want to learn a recession-proof industry, who want good base salaries, health care benefits, commission plans based on steady growth and need to hire now jobs in Sales, Marketing, Operations and Merchant Account Services. We hope to work even more closely with the State of Michigan, Southeast Michigan and Oakland County.”

Once a highly successful, Automotive Supply Chain Sales & Marketing cover boy, Iafrate and his beloved State of Michigan are intertwined. Simply put, Iafrate and the over 100 employees and counting team he’s built at International Bancard comprise the type of technology based diversification story that Jennifer Granholm and L. Brooks Patterson could use as an economic reviving template.

IBC CEO David Iafrate (third from left) joins Governor Granholm and the MEDC’s James Epolito on the dais at the Michigan State Capital.

International Bancard is helping drive North America’s transformation to a cashless society via multi-service Merchant Services, on-site financial services, sales of software that reduces transactional costs, enhances security while improving Return On Investment for Merchants, Education, Health Care Providers, Restaurants, Automotive Dealers, Contractors, Large Ticket Appliance Chains, Grocery Stores – and any business or services company that wants to improve its business efficiency. And, as in any Technology Driven enterprise, the key difference exhibited by International Bancard’s far-flung, North American wide employee team is Best-In-Class Customer Service, Iafrate said.

“In our industry, service is virtually nonexistent,” Iafrate said. “It sounds simple and most great companies put maximum value on it, but most all of our competitors drop software and or hardware on the customer door step, send an e-mail or leave a perfunctory phone call and move on to the next account. Often times, merchants and health care service providers complain to us that their previous providers – be it a bank, a large wholesaler or merchant services company – makes them navigate through call trees and pre-recorded touch-tone instructions to navigate through their new POS Devise or software. The customer satisfaction and loyalty we’re accorded all over North America and the world doesn’t come by accident.”

International Bancard prides its “old school” values, working with merchants, educational institutions, health care providers and any business that handles financial transactions – shoulder-to-shoulder, live and in-person, Iafrate said. International Bancard answers every phone call with live, real-time human voices and hands-on technical specialists, contrasting it against annoying, verbal time-wasting call tree mazes that bog down and frustrate customers, Iafrate explains.

And, International Bancard’s growth is fueled by enabling its Customers to save considerably on the cost, speed of transactions and reduce receivables. International Bancard educates its customers in all aspects of credit card processing from new technology to helping them gain a comprehensive understanding of how to read their monthly merchant statement. International Bancard believes that it’s better for all parties to have a well educated customer. The U.S. Federal Reserve estimates that currency and paper-based checking transactions are being reduced, on average, by “6-to-8 percent” annually (5.7 in 2007). With these factors as a backdrop, Iafrate’s vision – fueled by technology specialists, technical sales and customer service expertise and savvy marketing – is happily challenged by managing Michigan-based growth in unison with meeting ever-expanding industry and customer expectations.

“We’ve been privileged to manage near annual doubling growth in both personnel and in facilities requirements,” Iafrate explains. “Within the next few months, we’re looking forward to another big growth step when we move from our long-time headquarters in downtown Royal Oak, MI northeast to bigger and more expansive digs in northern Oakland County, most likely Troy.
“And, as I continue to stress and be thankful for, this is all being fueled by my people, the great technical, marketing and progressive customer service team that makes up International Bancard,” Iafrate said.

International Bancard Custom Services include:

• Credit Card Processing
• Check Guarantee Services – Merchants receive 100 percent of the face value of checks returned from authorizing banks.
• Gift Cards & Loyalty Card Management – Increase brand identity and loyalty, customers keep gift or loyalty cards in their wallets and purses, increasing the opportunity that they will return to make additional purchases.
• Point-of-Sale Equipment and Software.
• On-Going Supply Management & Point-of-Sale Customer Follow-Through – Includes maintenance, paper, ribbons, and security upgrades.

Future Growth Via Industry-Leading P.O.S. Software
International Bancard has joined forces with a software powerhouse to develop a very user friendly Point-Of-Sale software that will address many longstanding issues that have plagued merchants since the mid-1980’s. International Bancard, working with Best-Practices partner innovators, is a helping lead the drive toward improved Security, Return On Investment and overall convenience for customer merchants and the end-user consumers they serve.

Managing International Bancard’s Perfect Story Aligns With Michigan
“I’ve been blessed with success in both the Automotive and Financial Services industries,” Iafrate reflects. “And, suffice it to say, I’m passionate about the Great State of Michigan. I’m not Jeff Daniels or some famous celebrity, but I do agree with the nationwide promotion that touts our unique workforce – International Bancard truly benefits, both directly and indirectly, from the fallout of downsizing and changing industries to retrain and reincorporate a best-in-class workforce to drive International Bancard’s future.

“We’re now at an instrumental juncture where we want to get out from beneath the radar and to try and share a true good news economic and professional growth story to maybe off-set the bad news that seems to permeate our media,” Iafrate said. “Part of me likes remaining under the radar but as I continue to hire and add to my great team around the country, many of them join my outside mentors to tell me that it’s time to get our good news out for a state we love so much.
“Don’t get me wrong, we know that International Bancard is just a small part of the engine,” Iafrate allows. “But, with our continued growth being fueled by being in the right place at the right time of this rapid ‘cashless society’ evolvolution, it’s time for me and all of us who are so thankful for the privilege to do business in Michigan to get out from beneath the radar. And, with our potential industry changing application being ready to positively affect our customers and the industry we serve prior to our move to bigger and better things in Troy; I thought it was time for this true Michigan success story to be told.”

As International Bancard continues its growth and positive transition, it estimates that it will provide between 100 and 150 additional employment opportunities over the next one-to-three years, Iafrate predicts. And, as a life-long Michigander, Iafrate wants to pay tribute to his team in unison with their skill sets and innovation to continue to bring revenue back to the Motor City and beyond, where it belongs.