the v.i.p. payment program your unfair advantage
TRANSCRIPT
The V.I.P. Payment Program
Your Unfair Advantage
The VIP Payment Program is a No Interest , No Credit Check payment plan you can offer your customers.
This is NOT a loan or a cash advance and has nothing to do with checks, credit cards or FICO™ scores.
The VIP Payment Program enables you to accept your customer’s promise to make weekly, bi-weekly, or monthly payments over a 90 day period for products or services valued up to $2000.
We hold them to that promise by transferring the funds from their bank account into yours by ACH debit on the payment due dates.
In so doing, we are able to remove most of the risk to you with our guarantee that your customers’ payments will be made as promised.
There is no interest charged. The customer pays a $5, $10, or $15 convenience fee per payment which goes into your account as well.
You receive your funds even if the customer doesn’t have enough money in their account* on the payment due date.
We Guarantee it!
*NSF (non-sufficient funds)
We charge you 6.5% to guarantee the payments, but this cost is offset partially, in some cases completely, by the convenience fees collected.
For instance, on a $1000 sale we would charge you 6.5% or $65.00. But the customer pays $5 per payment over 12 weeks – which is deposited directly into your account.
So it costs you just $5.00. Add to this just 30¢ per payment for processing and your total cost is $8.60 on a $1000 sale paid in 12 weekly installments! That’s less than 1%. Compare that to your cost when a customer uses a credit card!
The customer pays a one-time $25 application fee, so their total cost is $85.00 or less, no matter if the sale is $500 or $1000 or $2000.
Nearly every application is approved because neither the credit bureaus nor credit scoring are used to determine eligibility for the program.
If the customer has a legal ID, a bank account, monthly income at least twice the sale amount, and a history of meeting their financial obligations on time, they’ll almost certainly be approved.
Why your customers will love the VIP Payment Program.
Up to $2000.00 in purchasing power 90 days to pay – INTEREST FREE! No credit checks or credit scoring
Approval is immediate Frees up their credit cards Additional payment options and
purchasing choices
Get what they want or need NOW No Credit Bureau Reporting No more concerns over when a
payment is due – it’s automatic
Why you will love the VIP Payment Program
Brings you those additional customers who cannot qualify for, or don’t want to pay by traditional methods.
Defines yours as the go-to business within your industry with an easy payment plan more customers can qualify for.
Provides a great opportunity to up-sell to a higher quality of products and services by putting them within reach of those who would prefer to upgrade if they could.
Customers can’t take your approval to the competition.
No more worries about how your customers will pay.
No more bank loan hassles or card payment declines.
No more bounced checks!
Increase your traffic, sales and profit at zero net cost to you
No special equipment to buy or lease , just a computer with Internet and a fax machine
Merchant Requirements
Computer with Internet Access and Printer Scanner or Fax machine A willingness to work with your customers and let them make payments over 90 days.
Merchant Requirements
A desire to capture the business that passes you by every day because you don’t have a payment plan they can qualify for.
Customer Requirements
Driver’s License or State ID Proof of Income* Valid Checking Account
*Total purchase not to exceed $2,000 or 50% of
customer’s combined monthly net household income.
How It Works
Log into your account on our secure Internet
portal with your user name and Password.
Enter the customer’s personal information into the application and click “SUBMIT.”
Enter Bank Account information, Total Payment Amount and Payment Frequency, either weekly, bi-weekly, or monthly and click “SUBMIT.”
Get a response in seconds. Once approved, your customer will choose a payment method for the $25 application fee – Cash Check, Debit or Credit Card.
Print out the Consumer
Authorization form for customer’s signature and select a start date for first payment.
That’s all there is to it!
Fax the signed agreement into our office.Your customer leaves satisfied and your payments are deposited to your account on the payment due dates… GUARANTEED!
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EXAMPLE SALE
Total cost of goods / services $1,000.00One time application fee $25.00 $10.00 convenience fee x 6 bi-weekly payments $60.00 (this is paid to you, the merchant) Total cost to customer $1,085.00Merchant Fees $1,000.00 x 6.5% (Guarantee fee) = $65.00 + 6 payments @ $0.30 = 1.80 Cost to Merchant $66.80 Less customer fees paid to you - 60.00 YOUR TOTAL NET COST $6.80
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$1,070.00 $1,085.00 $1,085.00
Merchant Fees
One -time investment of $495.00 Annual renewal is automatic and free$20.00 per month maintenance fee6.5% of each qualified, guaranteed sale$0.30 per payment transfer fee
Customer Fees
$25.00 one time application feeConvenience fees
$5.00 per payment if paid weekly $10.00 per payment if paid bi-weekly $15.00 per payment if paid monthly
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Missing Customer ExerciseWeekly
1. How many “would-be” customers get turned down after applying? 4
2. How many times a week do customers leave after hearing the price? 5
3. How many “give me an estimate” calls do you get each week? 3
4. How many customers would buy if you offered no credit check financing? 3
5. How many customers could you “up-sell” if you could offer extra time to pay? 2
6. How many more people might come in if they saw a no credit check sign? 3
Total Potential Missing Customers per Week
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Average Ticket or Transaction Amount $ 1,500.00
Multiplied By Number Of Missing Customers $ 30,000.00
Potential per Week add’l revenue
Potential Annual Revenue $ 1,560,000.00 Per WEEK
If 85% Could be Sold $ 1,326,000.00 $25,500
If 70% Could be Sold $ 1,092,000.00 $21,000
If 50% Could be Sold $ 780,000.00 $15,000
Substitute your own numbers and you’ll see the potential!
Click When Ready to Advance Slide
Gain The Unfair Advantage
Close those sales that are getting away due to financing difficulties. If you’re losing just 2 sales a week and your average sale is $1,000, you’re missing out on over $100,000 a year in revenue.
The V.I.P. Payment Program will enable you to capture that additional revenue and grow your business, at practically no net cost to you!
This program is essentially FREE to use. When you follow the VIP Payment Program Guidelines, the Consumer Convenience Fees paid by your enrolled customers will pay the monthly Maintenance Fee for you.
Easy and Affordable
There is no equipment to buy or lease—simply connect to the VIP website through the Internet using your computer. We will provide you an easy, hassle-free setup—all you have to do is log on to the website once you receive your username and password.
No Expensive Equipment to Lease
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Your 100% Satisfaction is Guaranteed
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FREE Bonus Service to our Clients
Enrollment in the VIP Payment Program entitles you to Free inclusion in our NSF check re-presentment program. The Check Re-presentment service allows you to focus on new business while eliminating the resources, worry and cost involved with collecting NSF checks. With this program, when a customer's check bounces, we will re-present it to the bank up to two more times electronically. We have a very high success rate at recovering NSF checks using this method. We do not take a portion of the check - you get 100% face value, and we don’t charge you anything at all for this service! It’s 100% FREE to you as a VIP Client
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Our company is not a Better Business Bureau accredited business.
What that means is we have never paid any accreditation fees to the BBB.
We are proud of our BBB rating of A+ because we came by it honestly.
We earned it through a clean record of NO COMPLAINTS in 20 years of business.
This is a rarity in any industry, and virtually unheard of in the financial services industry.
BBB Rating
How Do You Enroll?Read and Complete the Application on the “Enroll Now” page of our website.Provide a copy of the Principal(s) Driver’s License, and a company voided check.Fax these into our office. Pass the underwriting review.You will be issued a user ID and password to the application screen on our website.$495.00 will be debited from your account.
Program Guidelines
If the program guidelines are followed and you maintain at least one customer transaction in the system, the service will essentially pay for itself.
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VIP Payment Program Guidelines Summary
Consumer QualificationsThe consumer may use joint income to qualify.The VIP Payment Program amount must not exceed $2000.00 or 50% of the monthly household net income.Before collecting the Application Fee, the Merchant should make the consumer aware that if the consumer’s credit history is somewhat in question, they may not qualify. Frequency RecommendationsFor a consumer purchase of $750.00 and under, we recommend any of the three options, Weekly, Biweekly or Monthly. For a consumer purchase of $750.00 to $1000.00, we recommend the use of the Weekly or Biweekly Program.For a consumer purchase of $1000.00 and over we recommend the use of the Biweekly Program. Payments and FeesA nonrefundable $25.00 Application Fee will be collected online via credit card or debit card. Consumers may also pay by cash or check to the Merchant.*Although cash or check are options we strongly encourage you the Merchant/Service Provider to have consumers make payment on the webpage using debit/credit card. The funds will be debited from your account should payment not be made on the Website with a debit/credit card.
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Choosing the Start DateThe start date should be a week in which the consumer receives a paycheck. Verifications and GuaranteesThe Merchant/Service Provider must verify the consumer’s proof of income, preferably via a payroll check stub. Merchandise should not be released until all documentation has been confirmed accurate. The Merchant/Service Provider must keep all consumers’ qualifying documentation on file. We will Guarantee all funds that are returned through the ACH Network for R01 or RO9 (insufficient funds). All other returns will void the Guarantee and be placed with the Merchant/Service Provider to collect. The Merchant/Service Provider has 5 days to provide us with documentation collected from the consumer at the time of purchase. If the Merchant/Service Provider cannot produce the documentation, we will not be held liable to collect the debt. Immediate Consumer DisqualificationA consumer may have no more than one (1) active VIP Payment Program within the same 90-day period, including with Merchants/Service Providers other than you. GMS VIP Payment Program StandardsAs a provider of the VIP Payment Program, it is imperative that the Merchant/Service Provider upholds the standard of treating consumers enrolled in the VIP Payment Program like VIPs. If we feel that these standards are not of VIP status, the Merchant/Service Provider may not qualify or may have the VIP Payment Program revoked.
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We Do All the Work—You Get All the Credit!
As a nationwide Third Party Processor since 1992, our company is expert in the Automated Clearing House (ACH) guidelines and rules process. In the VIP Payment Program, we handle all the technical and rule compliance so you don’t have to. The VIP Payment Program complies with all ACH rules and procedures—allowing you to establish an ACH program with your consumers—automatically.
The VIP Payment Program works through the ACH network, which is an automated credit and debit system governed by the rules of the National Automated Clearing House Association (NACHA).
The ACH network is a processing and delivery system that provides for the distribution and settlement of electronic credits and debits among financial institutions. In response to the rapid growth of check payments, the ACH network was developed in the early 1970s as an efficient, electronic alternative to checks.
Through a nationwide telecommunications network, each ACH operator, who IDs the central clearing and settlement facility for ACH transactions, is able to communicate with other ACH operators to exchange entries quickly and efficiently, regardless of geographic distances involved.
The ACH network offers an assortment of technical formats that can be used for a variety of payment applications, products and services
THANK YOU
The V.I.P. Team