News

FastLane network offers issuing to merchants, ISOs

February 23, 2006

BOULDER, Colo. - Payment network FastLane is now offering merchants and independent sales organizations a revenue stream from the issuing side.

According to a news release, FastLane changed the traditional equation so that merchants and ISOs now receive shared fee income that is generated when consumers shop at other FastLane locations.

Consumers enroll in the FastLane payment network with a checking account payment option at a merchant's POS device. "The enrollment process takes less than 10 seconds," said company chief executive Carl Towner.

When those enrolled consumers shop at other FastLane merchants, the enrolling merchant and ISO 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," Towner added.