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» Startup Stories: COCARD Attractive Prospect With COCARD’s model, the individual ISOs are responsible for running their own businesses. Brattland’s legal entity is named Global Bankcard Services LLC. The corporate office mostly provides sales support to the 70 offices, so if a member can’t reach a processor and has a question, the Nashville office lends a hand, sort of like back-up for the processor, says Allen. The corporate office doesn’t typically handle boarding, but if a member submits an application or the paperwork that goes with it, the corporate office can help out. It performs the accounting function and, of course, handles the residuals. Because of the reforms COCARD enacted last summer, it is now better positioned for a possible acquisition. At $3.3 billion in processing, it presents an attractive target. Given that members have the option of selling out or remaining independent, COCARD now offers the possibility of a win-win on both sides of the equation—for members and a prospective buyer. Brattland says all 70 offices are now figuratively “in one boat” and that all are rowing in the same direction. He quotes an axiom of Henry Ford’s, saying the cooperative is “moving down the path of success.” WORDSTOTHEWISE • Find your niche. One of the main lines of business for Brattland’s LLC, Global Bankcard Services, is a POS focused on restaurant software that he stumbled upon while on vacation in St. Thomas, Virgin Islands. “Find your formula, find your niche, and focus on becoming excellent in that one area instead of trying to be all things to all people,” says Brattland. “Many people try to find so many different niches and so many different products. Many try to sell their restaurant and retail customers POS software and wireless terminals and spread themselves too thin in many different areas. Most successful businesses I’ve seen become great in one area, not average in many areas.” • Always persevere. “If you’re not getting answers you need, keep going until you get someone who can answer questions,” says COCARD’s Allen. “I learned that doing sales support. You’ll appreciate them once you find them.” • Don’t be secretive. “The most successful people I know in this business are not real secretive,” Brattland says. “Seek out advice and be very open. The least successful people are the ones who are very reserved, secretive. I learned you need other people to get to the top. Nobody makes it alone.” The main benefit members see of being a member of COCARD “is the security of their portfolio, knowing there is not anyone above who will be sold or acquired or will take your residuals,” Brattland says. “Being part of a larger entity like COCARD, where we have the resources and the legal means to make sure our residuals are protected and have that security, is a huge benefit to being a member.” TT John Manasso is a contributing writer to Transaction Trends. Reach him at john_manasso@yahoo.com. There has never been a period of greater technical change than the period the merchant acquiring industry is about to enter. EMV, NFC, mobile POS, cloud-based computing/SAAS, mobile wallets and offers redemption are driving upheaval at the point of sale. These phenomena are largely independent but are happening essentially at the same time for differing reasons. This cannot help but reshape acquiring, interjecting new competitors and shaking out existing ones. However, it is strategic complacency and not technical change that is the bigger threat. 34 October 2012 | Transaction trends First Annapolis has been providing management consulting and merger and acquisition advisory focused exclusively on the electronic payments industry for the last 20 years. The merchant acquiring business is one of our deepest specialties. U.S. Office +1 (410) 855 8500 l Europe Office +31 (0) 20 530 0360 l info@firstannapolis.com l www.firstannapolis.com
ETA 2012 BOARD OF DIRECTORS OFFICERS PRESIDENT Eddie Myers President & COO PayPros PRESIDENT-ELECT Roy Banks CEO ACCELERATED Payment Technologies Inc. TREASURER Kim Fitzsimmons CEO Cynergy Data SECRETARY Debra Rossi Executive Vice President Merchant Payment Solutions Wells Fargo Bank IMMEDIATE PAST-PRESIDENT Rick Pylant Chairman & CEO Strategic Payments Systems Inc. DIRECTORS Todd Ablowitz President Double Diamond Group Robert Baldwin Vice Chairman Heartland Payment Systems Inc. Gregory Cohen Senior Vice President & General Manager Verifone Commerce Gary Goodrich CEO ProPay Inc. Chuck Harris President NetSpend Chris Hylen General Manager & Vice President Intuit Diana Mehochko President DMM Consulting Mike Passilla President & CEO Elavon Jeff Rosenblatt President EVO Merchant Services Kurt Strawhecker Managing Director The Strawhecker Group ADVISORY COUNCIL John Barrett SVP Sales First Data Eddie Davis Senior Director, Distribution Partners PayPal Will Graylin Joan Herbig CEO ControlScan Kevin Jones President SignaPay Tom Wimsett Wimsett & Company EX-OFFICIO Jason Oxman CEO Electronic Transactions Association Jan Estep President & CEO NACHA Steve Carnevale Group Head—U.S. Market Development/ Emerging Verticals and Acceptance Development MasterCard Worldwide Sameer Govil Head of Acceptance Solutions Global Acceptance Visa Inc. Edmond Jay Senior Vice President, Small Merchants American Express Gerry Wagner Vice President Discover Financial Services LEGAL COUNSEL Dave Goch Attorney at Law Webster, Chamberlain & Bean Advertisers index Company Page Phone Web Apriva 26 480-421-1275 www.apriva.com Authorize.Net C2 866-437-0491 www.authorize.net Elavon 27 678-731-5236 holly.lytle@elavon.com eProcessing Network, LLC 10 800-296-4810 www.eprocessingnetwork.com EVO Merchant Services 23 516-962-7898 jdefilippo@goevo.com First Annapolis Consulting Services 34 410-855-8500 www.firstannapolis.com Isis 5 www.paywithisis.com Merchant’s Choice Payment Solutions 9 800-327-0093 www.mcpscorp.com NPC, a Vantiv company 21 877-453-5933 www.npc.net Pax Technology C3 877-859-0099 www.pax.us Planet Payment 19 800-489-0174 www.planetpayment.com Planet Group, Inc. 1 800-979-9166 www.planetgroupinc.com SecureNet Payment Systems 11 888-231-0060 www.securenet.com SparkBase 2 216-867-0877 www.sparkbase.com Total Merchant Services, Inc C4 888-84-TOTAL x9411 www.upfrontandresiduals.com USA ePay 33 866-872-3729 www.usaepay.com Transaction trends | October 2012 35
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