FASTLANE Payments Network Launches Issuing to Merchants and ISOs, Changes the Revenue Equation

FASTLANE, a new payment network, announced today that it will be the first to offer merchants and ISOs a lucrative stream of revenue from the issuing side of the program. Traditionally issuing revenue has been reserved for large financial institutions when they ‘issue’ credit cards to consumers who then generate fee income for the banks where ever they shop with the bank’s credit card. FASTLANE has changed this traditional equation so that the merchant and ISO will receive shared fee income generated when a consumer enrolled by a merchant location, shops at other FASTLANE locations.

Boulder, CO (PRWEB) February 24, 2006 -- FASTLANE, a new payment network, announced today that it will be the first to offer merchants and ISOs a lucrative stream of revenue from the issuing side of the program. Traditionally issuing revenue has been reserved for large financial institutions when they ‘issue’ credit cards to consumers who then generate fee income for the banks where ever they shop with the bank’s credit card. FASTLANE has changed this traditional equation so that the merchant and ISO will receive shared fee income generated when a consumer enrolled by a merchant location, shops at other FASTLANE locations.

The FASTLANE payment network which offers access to Loyalty, Gift, Point of Sale (POS) payments and a Person-to-Person Money Transfer service, is accessible by a single swipe of the driver’s license. Consumers enroll a checking account payment option into the FASTLANE network at a merchant’s POS device. “The enrollment process takes less than 10 seconds,” comments FASTLANE CEO, Carl Towner.” With enrollment into the FASTLANE system being so streamlined, merchants and ISOs will financially benefit from every consumer who enrolls into the FASTLANE network at the merchant’s place of business. When those enrolled consumers shop at other FASTLANE merchants the enrolling merchant and ISO will receive shared fee income.

“This new shared revenue structure will be similar to merchants and ISOs participating in card issuing revenue in the traditional ‘payments’ environment,” adds Towner. There will be a considerable financial consideration for merchants and ISOs to look to enroll a consumer into the FASTLANE network. That consumer will generate revenue to the enrolling merchant and ISO as long as the consumer uses the FASTLANE network at other FASTLANE merchant locations. “This is a significant revenue source that we are offering to our merchant and reseller channel base and expect there to be a great deal of interest in the financial structure of the program,” added Towner.

FASTLANE plans to offer other creative ways to attract and provide incentives to merchants. More FASTLANE announcements concerning these incentives will be announced shortly.

About FASTLANE:
The FASTLANE payment network is leveraging a piece of plastic that is in virtually every consumer's wallet. With a single swipe of the drivers license, the consumer’s identity is verified and access is given to FASTLANE's Virtual Payment Network (VPN).

The single swipe grants access to one of the worlds most robust and highly secure payment networks. FASTLANE Virtual Payment Network offers Loyalty, Gift, Debit and Person-to-Person payments. Enrollment only takes a few seconds and subsequent transactions are processed in a fraction of the time it takes with other forms of payment, hence the name FASTLANE.

The FASTLANE network will be launched at the Electronic Transaction Association (ETA) Convention in Las Vegas, California, April 18-21.

For more information see aboutfastlane.com

Media Contacts:
Susan Assadi or Kristen Roman
Gitenstein & Assadi Public Relations
800 922 8792

Company Contact:
Linda Bryant, Senior Vice President, FASTLANE
707-433-4260

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