QuickStart Advantage Program is customized for financial institutions
that want to own the consumer and/or commercial credit card portfolio,
while outsourcing a majority of the operational functions to Primax.
Primax Introduces QuickStart Advantage Card Issuer Program
Enables smaller financial institutions to launch VISA programs in half the time
WAKEFIELD, MA (May 27, 2008) – Primax, formerly known as T. K. Keith Company, Inc., today announced it will begin offering a streamlined version of its Advantage card issuer program to financial institutions with a minimum of $5 million in assets. QuickStart Advantage provides credit unions and community banks with application processing and support to start-up VISA Platinum Card programs in a significantly condensed time frame. Typically, the process takes four to six months, but the QuickStart Advantage Card Issuer Program can be up and running in as few as two months.
The QuickStart Advantage Program is customized for financial institutions that want to own the consumer and/or commercial credit card portfolio, while outsourcing a majority of the operational functions to Primax. It also allows smaller financial institutions, that might otherwise find the start-up of a credit card program cost prohibitive, to institute a program.
“With this unique new program, the financial institution retains the two most critical roles of an issuer – they own the cardholder relationship and they make the credit decision. We manage everything else.” stated Ted Keith, president and CEO of Primax. “The QuickStart Advantage program is the only one I know of its kind specifically designed to assist small financial institutions to cost effectively launch a credit card program. This is another example of our focus to simplify the challenges and intricacies of entering the credit card business: we provide 24x7 live customer service, manage fraud using the latest analytics available and bundle First Data processing services and back-office fees into the simplest pricing package in the industry.”
An industry leader, First Data’s system is an integral component of the Primax QuickStart Advantage program, ensuring a comprehensive and sophisticated approach to support the complexities of the credit card business.
In addition to the quick start-up time, customer benefits to the QuickStart Advantage Program include:
The opportunity for hundreds of smaller financial institutions, who previously had difficulty entering the credit card business due to the lack of suitable programs in the marketplace, to implement a credit card program Streamlined implementation process for a complete credit card program (QuickStart) with Primax handling various tasks, processes and selection choices that ordinarily are the financial institution’s responsibility 25% to 30% lower monthly per statemented account cost averaging $3.25 per account, rather than the typical $5.00 per account cost
A more affordable alternative for financial institutions that previously were unable to enter the credit card market due to cost barriers.
Since 1981 the principal focus of Primax, formerly known as T.K. Keith Company, Inc., has been to strengthen the customer relations and profitability of its clients with exceptional, customizable, high-quality card and card-processing programs, products and services.
Working with community-minded issuing and agent financial institutions throughout the U.S., Primax designs, implements and supports credit, debit, gift and commercial card programs, products and services. For its Merchant clients, Primax offers the best in card-processing programs, products and services via advanced processing systems and product options including MasterCard, Visa, American Express and Discover credit cards, as well as signature and PIN-based debit cards and gift cards
Primax is headquartered in Wakefield, Massachusetts, with satellite offices in various cities throughout the U.S. For more information about Primax and its products, programs and services please visit us at primaxpayments.com.
Laura K. D'Amico
Phone: (617) 937-2550
Cell: (617) 899-2395
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