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United Bank Card Inc. is introducing two new weekly-payout bonus programs for independent sales organizations and increasing payment frequency on a third incentive program to weekly, as well. The Hampton, N.J.-based acquiring processor says it has begun paying an incremental $30 to $40 to ISOs and sales agents for each merchant they sign for Discover card acceptance. The move is made possible, it says, because its volume growth has pushed it into a higher tier of compensation from Discover Financial Services Inc. In addition, it is offering $150 for each Visa/MasterCard merchant its representatives convert from a competing processor. The new merchants must generate a minimum of $20,000 in volume monthly. Both bonuses are paid out weekly. Meanwhile, an existing program, a $100 free-equipment bonus payment, has also been increased in frequency to weekly. The more frequent payouts are expected to prove particularly attractive to the ISO community, the company says in statement. United Bank Card processes more than $2 billion in card volume annually for 30,000 merchant locations. This spring, it sold a $1.5 billion portfolio of 15,500 merchants to Optimal Payments Corp, a Canadian processor, for $44 million, but retained the processing business for the accounts (Digital Transactions News, May 11). It is signing new merchants at a rate of 2,200 per month. The company is a registered ISO/merchant service provider of Merrick Bank, Draper, Utah.
