The Federal Trade Commission has been busy. On the heels of its $40
million settlement with Skechers, one of the largest of its kind, the
Commission yesterday announced that it has settled with Oreck
Corporation regarding allegedly unsubstantiated claims that the company
made regarding its Halo vacuum cleaner and ProShield Plus portable air
purifier. Oreck has agreed to pay $750,000, which will be disbursed to
affected consumers via $25 refund checks, and has further agreed to
refrain from making certain identified advertising claims without
adequate substantiation. As is customary in these types of proceedings,
Oreck has neither admitted nor denied the FTC's allegations but has
agreed to abide by the FTC's consent order (in this case, a twenty-year
order) as a means of resolving the dispute.
Although the
monetary component of the Oreck settlement is significantly smaller than
that of the Skechers settlement, the underlying issues are similar. In
each case, the FTC alleged that the marketers made claims about the
health effects or efficacy of their products that were not adequately
substantiated and were, therefore, misleading to consumers.Save up to
80% off Ceramic Tile and porcelaintiles.
The FTC pursued Oreck for allegedly unsubstantiated claims that its
Halo vacuum cleaner and ProShield Plus air cleaner would: (a) reduce the
risk of the flu, (b) reduce the risk of other ailments caused by
bacteria, viruses, molds or allergens, and (c) eliminate all or some
specified percentage of germs, bacteria, dust mites, molds, viruses or
allergens.
One of the ads featured in the FTC's complaint
depicts a woman standing in a wallpapered room (a kitchen, judging by
the floral design) wearing a gas mask.We are professional canada goose jackets
for women online sale shop. The ad asks, "WANT A NEW WAY TO HELP BATTLE
THE FLU?" and reports that testing showed "up to a 99% reduction in
airborne particles."
Another ad depicts the Oreck Halo vacuum
cleaner emitting a stylized, blue UV-C light with the words "KILLS FLU
GERMS." The ad claims that the Halo is "the only vacuum in the world
that uses powerful UV-C light to kill many of the germs that could be
living on your floors, such as the flu" and states that the Halo "traps
99.9% of particulates down to 0.3 microns."
According to the
FTC, these and similar claims were not adequately substantiated at the
time they were made. It is not possible to tell from the documents
disclosed publicly what level of substantiation Oreck had at the time it
disseminated the ads. In typical fashion, the FTC's complaint alleges
merely that "respondent did not possess and rely upon a reasonable basis
that substantiated the representations," and the consent judgment
prohibits similar claims unless at the time the claim is made,We looked
everywhere, but couldn't find any beddinges.
"respondent possesses and relies upon competent and reliable scientific
evidence that is sufficient in quality and quantity based on standards
generally accepted in the relevant scientific fields" to substantiate
that the claim is true. Accordingly, as with the Skechers settlement,Why
does moulds
grow in homes or buildings? there is little specific guidance in the
settlement documents for marketers who wish to play by the FTC's rules
when it comes to substantiating health and efficacy claims.
Without clear interpretive guidance from the FTC,Offers Art Reproductions Fine Art oilpaintings
Reproduction, and in light of the subjective inquiry required to
determine whether a particular claim is reasonably supported by
scientific evidence, the prospect of making health or efficacy claims
can be daunting. However, as previously discussed, marketers can
minimize their risk by keeping in mind the following key points, which
have emerged from recent FTC actions.
2012年5月29日 星期二
2012年2月15日 星期三
Controversial Telemarketing Empire Puts Focus on South Florida Couple
A South Florida man and his wife are at the center of criminal investigations, and allegations of widespread fraudulent telemarketing targeting people and their bank accounts nationwide.
But several of Michael Mouyal's own telemarketers say victims might not even notice.
The chicken is getting grilled at El Fogon restaurant, but the busy small business owner says he’s getting burned, by telemarketers.
“And they have my bank information and everything," complains owner Edgar Rodriguez. "And I don’t even know how they got it.”
Rodriguez says telemarketers from “Smart Merchant Services,” which has a professional looking website, have been calling his employees twice a week for years claiming to be his business equipment vendor. They are not. His bank shows small monthly withdrawals, listed only as “key components,” without permission and no actual service provided at all.
"It’s unbelievable that these people are still out there doing what they’re doing," he says. "And it’s ridiculous.”
And telemarketers who have spoken to NBC Miami say there are many other small businesses being targeted nationwide. For example, a tiny Mexican restaurant in Brawley, California, another one in Los Angeles, another in New Jersey, at least one branch of a Texas bank.
Sometimes the businesses end up receiving rolls of paper for their office equipment, but often nothing at all.
We spoke with four telemarketers for "Smart Merchant Services" who say they work in a building in a Miramar, Florida corporate office park. Two of them agreed to do on camera interviews, but asked that their faces and voices be hidden due to fear of retaliation.
"Yea. There’s no service provided,” said one of them about the telemarketing businesses for which he makes sales calls.
“There’s no service provided at all?” a reporter asked.
“No.”
“So just charge a monthly fee for absolutely nothing?”
“Exactly.”
“For as long as you can get away with it?”
“For as long as you can get away with it.”
The second telemarketer described their sales strategy.
“Usually when I call, I make them think I’m someone else. I make them think that this is not 'Smart Merchant Services.' This is…a company from the insurance company, and they’ll say, ‘oh, from Allstate?’ ‘Yeah, it’s from Allstate.’ And then they’ll give me their information.”
But it goes far beyond "Smart Merchant Services." NBC Miami has learned from telemarketers, law enforcement, and state records that a dozen or so affiliated companies are selling “extended warranties” to repair your office equipment ("Smart Merchant Services"), your car ("Auto Members of America"), cell phone ("Mobile Assurity"), appliances ("Home Assure"), and more. Other companies sell insurance for medical ("OnCallMD"), travel("Travel Insurance Program"), unemployment ("Constant Paycheck"), even identity theft ("Identity Assurance"). Telemarketers we interviewed say the companies can bring in potentially millions of dollars from small monthly bank withdrawals but providing little or no service in return.
They all have one thing in common.
Michael Mouyal.
He goes to work most days in the same South Florida offices those telemarketers say the call center is based.
“He’s the mastermind in all this and we’re all his puppets,” says a telemarketer. He was asked, “You feel badly doing this?”
“Do I feel bad? I mean, I don’t know what else to do. I mean, I know it’s bad. I know what he’s doing is bad but I mean it’s the only income I have.”
NBC Miami tried to talk with Mouyal, and his wife. Neither wanted to talk about their telemarketing business.
Business must be good. Miami Dade County records say Mouyal and wife Kasey Crouch Mouyal live in an estate in Pinecrest.
NBC Miami has learned Mouyal, his wife and his operation are being investigated by law enforcement authorities. That follows an extensive investigation more than a decade ago by Florida state investigators who received more than 150 consumer complaints, according to the lead state investigator on that case and news accounts at the time.
But Mouyal's biggest troubles came in Canada where court records say he did much the same thing there.
In 2007, armed police raided Mouyal’s offices in Montreal, Toronto and St. Johns. The Queen’s Court accepted Mouyal’s guilty plea to false or misleading telemarketing from 1994 to 2001.
"They’re aggressive and they’re out there to make money. And they’ll do it any which way they can,” Gus LeForge, Phonebuster Police Unit told the Canadian Broadcasting Company several years ago.
News accounts in Canada and in Barbados reported workers for Mouyal in Barbados rioted after not getting paid at his offshore call center there, where one unhappy worker yelled "where's my money!" into a TV news camera.
The Canadian government says Mouyal grossed $137 million back then, but fined him $1 million.
One former Mouyal telemarketer, who also asked that his name not be published, said he can hardly believe Mouyal appears to be at it again in America.
"I was really surprised he did not get any jail time" in Canada.
One of Mouyal’s South Florida telemarketers says he recently put pulled his phone out and started recording a sales meeting as Mouyal chastised them.
Some excerpts:
“How can you do this job and not write orders? It’s, it’s depressing….It’s something in the approach that you’re not doing….You have to make you’re an actor! You’ve got to create problems for them!...Because I’m smarter than them!...I’m telling them what’s going on. I’m not asking them. I TELLING them. You guys are all calling and you’re ASKING people!”
In the same recording, we hear an actual attempt to get a bank account number out of an employee at Chavelo’s Restaurant in tiny Buda, Texas.
“And we’ll bill it to your account that we already have in our system. And I’m just trying to, which we’ll have obviously, uh, and I’ll call you back just to verify it one more time so that I get the right banking information so that we’re properly debiting you correctly.”
The Internet is full of people angry at Mouyal and his companies. One of them, Metropolitan Benefits Group, was reviewed by the Southeast Florida Better Business Bureau and given an “F.”
Rodriguez, the El Fogon Restaurant owner, says he lost $200 or so. It’s not the amount that bothers him. He’s says it’s simply dishonest. "These people still making millions out there and they’re still, you know, free.”
But several of Michael Mouyal's own telemarketers say victims might not even notice.
The chicken is getting grilled at El Fogon restaurant, but the busy small business owner says he’s getting burned, by telemarketers.
“And they have my bank information and everything," complains owner Edgar Rodriguez. "And I don’t even know how they got it.”
Rodriguez says telemarketers from “Smart Merchant Services,” which has a professional looking website, have been calling his employees twice a week for years claiming to be his business equipment vendor. They are not. His bank shows small monthly withdrawals, listed only as “key components,” without permission and no actual service provided at all.
"It’s unbelievable that these people are still out there doing what they’re doing," he says. "And it’s ridiculous.”
And telemarketers who have spoken to NBC Miami say there are many other small businesses being targeted nationwide. For example, a tiny Mexican restaurant in Brawley, California, another one in Los Angeles, another in New Jersey, at least one branch of a Texas bank.
Sometimes the businesses end up receiving rolls of paper for their office equipment, but often nothing at all.
We spoke with four telemarketers for "Smart Merchant Services" who say they work in a building in a Miramar, Florida corporate office park. Two of them agreed to do on camera interviews, but asked that their faces and voices be hidden due to fear of retaliation.
"Yea. There’s no service provided,” said one of them about the telemarketing businesses for which he makes sales calls.
“There’s no service provided at all?” a reporter asked.
“No.”
“So just charge a monthly fee for absolutely nothing?”
“Exactly.”
“For as long as you can get away with it?”
“For as long as you can get away with it.”
The second telemarketer described their sales strategy.
“Usually when I call, I make them think I’m someone else. I make them think that this is not 'Smart Merchant Services.' This is…a company from the insurance company, and they’ll say, ‘oh, from Allstate?’ ‘Yeah, it’s from Allstate.’ And then they’ll give me their information.”
But it goes far beyond "Smart Merchant Services." NBC Miami has learned from telemarketers, law enforcement, and state records that a dozen or so affiliated companies are selling “extended warranties” to repair your office equipment ("Smart Merchant Services"), your car ("Auto Members of America"), cell phone ("Mobile Assurity"), appliances ("Home Assure"), and more. Other companies sell insurance for medical ("OnCallMD"), travel("Travel Insurance Program"), unemployment ("Constant Paycheck"), even identity theft ("Identity Assurance"). Telemarketers we interviewed say the companies can bring in potentially millions of dollars from small monthly bank withdrawals but providing little or no service in return.
They all have one thing in common.
Michael Mouyal.
He goes to work most days in the same South Florida offices those telemarketers say the call center is based.
“He’s the mastermind in all this and we’re all his puppets,” says a telemarketer. He was asked, “You feel badly doing this?”
“Do I feel bad? I mean, I don’t know what else to do. I mean, I know it’s bad. I know what he’s doing is bad but I mean it’s the only income I have.”
NBC Miami tried to talk with Mouyal, and his wife. Neither wanted to talk about their telemarketing business.
Business must be good. Miami Dade County records say Mouyal and wife Kasey Crouch Mouyal live in an estate in Pinecrest.
NBC Miami has learned Mouyal, his wife and his operation are being investigated by law enforcement authorities. That follows an extensive investigation more than a decade ago by Florida state investigators who received more than 150 consumer complaints, according to the lead state investigator on that case and news accounts at the time.
But Mouyal's biggest troubles came in Canada where court records say he did much the same thing there.
In 2007, armed police raided Mouyal’s offices in Montreal, Toronto and St. Johns. The Queen’s Court accepted Mouyal’s guilty plea to false or misleading telemarketing from 1994 to 2001.
"They’re aggressive and they’re out there to make money. And they’ll do it any which way they can,” Gus LeForge, Phonebuster Police Unit told the Canadian Broadcasting Company several years ago.
News accounts in Canada and in Barbados reported workers for Mouyal in Barbados rioted after not getting paid at his offshore call center there, where one unhappy worker yelled "where's my money!" into a TV news camera.
The Canadian government says Mouyal grossed $137 million back then, but fined him $1 million.
One former Mouyal telemarketer, who also asked that his name not be published, said he can hardly believe Mouyal appears to be at it again in America.
"I was really surprised he did not get any jail time" in Canada.
One of Mouyal’s South Florida telemarketers says he recently put pulled his phone out and started recording a sales meeting as Mouyal chastised them.
Some excerpts:
“How can you do this job and not write orders? It’s, it’s depressing….It’s something in the approach that you’re not doing….You have to make you’re an actor! You’ve got to create problems for them!...Because I’m smarter than them!...I’m telling them what’s going on. I’m not asking them. I TELLING them. You guys are all calling and you’re ASKING people!”
In the same recording, we hear an actual attempt to get a bank account number out of an employee at Chavelo’s Restaurant in tiny Buda, Texas.
“And we’ll bill it to your account that we already have in our system. And I’m just trying to, which we’ll have obviously, uh, and I’ll call you back just to verify it one more time so that I get the right banking information so that we’re properly debiting you correctly.”
The Internet is full of people angry at Mouyal and his companies. One of them, Metropolitan Benefits Group, was reviewed by the Southeast Florida Better Business Bureau and given an “F.”
Rodriguez, the El Fogon Restaurant owner, says he lost $200 or so. It’s not the amount that bothers him. He’s says it’s simply dishonest. "These people still making millions out there and they’re still, you know, free.”
2012年2月1日 星期三
Lenders to convert Air India loan into NCDs with govt guarantee
After the Reserve Bank of India (RBI) rejected the proposal to provide an ‘SLR’ status to bonds, lenders have now agreed to convert Air India’s loan into non-convertible debentures (NCDs). But, there is an important caveat: the government must guarantee the entire loan and the interest rate, so that there is no additional provisioning requirement.
According to bankers, a fresh proposal has been forwarded to SBI Caps — the merchant banker for the debt recast exercise — which will meet the Air India management and the government to discuss the proposal.
An instrument guaranteed by a sovereign carries zero risk. Hence, higher provisioning is not required. However, if converted into NCDs, mark-to-market risk will still be there, since banks will not be able to put it in the hold-to-maturity category.
According to RBI norms, standard asset provisioning of 0.4 per cent will still be applicable to the loans, even after restructuring. If any standard asset is restructured, though it continues to remain standard, the provisioning requirement increases to two per cent from 0.4 per cent. If the government guarantees the Air India loan, banks can continue with standard asset provisioning and higher provisioning due to restructuring will not be required.
The coupon rate the NCDs will carry is likely to emerge as the critical point in finalising the deal. Bankers are still taking a tough stand, saying they will not take any hit. While restructuring a debt, banks have to make provision for the sacrifice made if the net present value come down. Such a situation can only be avoided if interest rates are kept at a high level.
“If the loan is converted into NCDs with a maturity of 10 years, then the interest rate may be say, 10 per cent. However, if the NCD maturity period is 15 years, then the coupon rate will also go up to say 14 per cent,” said a top official from a public sector bank with significant exposure in the troubled airline.
Earlier, banks had agreed to convert the debt into bonds which could be used for calculating statutory liquidity ratio. However, for bonds to have ‘SLR status’ would require RBI’s approval, which the regulator rejected.
Banks are looking for an early resolution to the Air India debt recast, as the Air India management has told them it would not be able to service the interest rate after December. Bankers said they want to settle the issue by March-end. If Air India does not pay interest from January, then the account will become non-performing from April.
Of the Rs 43,000-crore debt of Air India, restructuring for Rs 22,500 crore is proposed. A consortium of 26 lenders, with State Bank of India as the lead bank, has exposure to the troubled airline. If the entire amount becomes an NPA, then banks may face the grim possibility of a rating downgrade.
In October last year, Moody’s Investors Service downgraded SBI’s financial strength rating, based on the banking entity’s capital situation and deteriorating asset quality.
According to bankers, a fresh proposal has been forwarded to SBI Caps — the merchant banker for the debt recast exercise — which will meet the Air India management and the government to discuss the proposal.
An instrument guaranteed by a sovereign carries zero risk. Hence, higher provisioning is not required. However, if converted into NCDs, mark-to-market risk will still be there, since banks will not be able to put it in the hold-to-maturity category.
According to RBI norms, standard asset provisioning of 0.4 per cent will still be applicable to the loans, even after restructuring. If any standard asset is restructured, though it continues to remain standard, the provisioning requirement increases to two per cent from 0.4 per cent. If the government guarantees the Air India loan, banks can continue with standard asset provisioning and higher provisioning due to restructuring will not be required.
The coupon rate the NCDs will carry is likely to emerge as the critical point in finalising the deal. Bankers are still taking a tough stand, saying they will not take any hit. While restructuring a debt, banks have to make provision for the sacrifice made if the net present value come down. Such a situation can only be avoided if interest rates are kept at a high level.
“If the loan is converted into NCDs with a maturity of 10 years, then the interest rate may be say, 10 per cent. However, if the NCD maturity period is 15 years, then the coupon rate will also go up to say 14 per cent,” said a top official from a public sector bank with significant exposure in the troubled airline.
Earlier, banks had agreed to convert the debt into bonds which could be used for calculating statutory liquidity ratio. However, for bonds to have ‘SLR status’ would require RBI’s approval, which the regulator rejected.
Banks are looking for an early resolution to the Air India debt recast, as the Air India management has told them it would not be able to service the interest rate after December. Bankers said they want to settle the issue by March-end. If Air India does not pay interest from January, then the account will become non-performing from April.
Of the Rs 43,000-crore debt of Air India, restructuring for Rs 22,500 crore is proposed. A consortium of 26 lenders, with State Bank of India as the lead bank, has exposure to the troubled airline. If the entire amount becomes an NPA, then banks may face the grim possibility of a rating downgrade.
In October last year, Moody’s Investors Service downgraded SBI’s financial strength rating, based on the banking entity’s capital situation and deteriorating asset quality.
2011年8月15日 星期一
Merchant Processing Company Welcomes High Risk Accounts
Florida-based merchant processing company, Commersense, is welcoming high risk accounts to its client base.
"We are taking the steps to ensure that all merchants operating within the laws of this country are able to process credit cards and electronic transactions. Unfortunately, with the state of the economy, many merchant providers are taking a very conservative approach to underwriting merchant accounts. Some merchants are being considered high risk, despite the fact that they have done nothing wrong," states Christopher Kille, President of Commersense.
As many providers back away from higher risk accounts, Commersense is welcoming them to their network of financial institutions across the United States. Founded in 2006, Commersense is a full service business solutions provider offering merchant processing services, credit card equipment sales and leasing, merchant cash advances, payroll and employee benefits and more.
Commersense assists high risk accounts in finding the best rates for processing payment transactions and offers efficient solutions for credit and debit transactions, online transactions, check processing, payroll services and mobile-based transactions.
Kille added, "An high risk merchant account can be deemed as high risk simply because of the industry it is in. It's rewarding to know that we can help people live out their dreams of owning and operating a business, regardless of what industry they are doing business in. We have programs in place that protect our financial institutions and allow these merchants to conduct normal business without being limited by unnecessary restrictions and limitations."
Commersense serves a number of small businesses within the United States, and is capable of serving international clients. The company specializes in providing services that protect the client against account closure. Accounts placed within the past few months have included clients within the following industries: debt collection, travel and timeshare resale, online pharmaceuticals, nutraceuticals, and credit repair. Commersense provides custom priced solutions based on the clients' merchant needs.
"We are taking the steps to ensure that all merchants operating within the laws of this country are able to process credit cards and electronic transactions. Unfortunately, with the state of the economy, many merchant providers are taking a very conservative approach to underwriting merchant accounts. Some merchants are being considered high risk, despite the fact that they have done nothing wrong," states Christopher Kille, President of Commersense.
As many providers back away from higher risk accounts, Commersense is welcoming them to their network of financial institutions across the United States. Founded in 2006, Commersense is a full service business solutions provider offering merchant processing services, credit card equipment sales and leasing, merchant cash advances, payroll and employee benefits and more.
Commersense assists high risk accounts in finding the best rates for processing payment transactions and offers efficient solutions for credit and debit transactions, online transactions, check processing, payroll services and mobile-based transactions.
Kille added, "An high risk merchant account can be deemed as high risk simply because of the industry it is in. It's rewarding to know that we can help people live out their dreams of owning and operating a business, regardless of what industry they are doing business in. We have programs in place that protect our financial institutions and allow these merchants to conduct normal business without being limited by unnecessary restrictions and limitations."
Commersense serves a number of small businesses within the United States, and is capable of serving international clients. The company specializes in providing services that protect the client against account closure. Accounts placed within the past few months have included clients within the following industries: debt collection, travel and timeshare resale, online pharmaceuticals, nutraceuticals, and credit repair. Commersense provides custom priced solutions based on the clients' merchant needs.
2011年8月11日 星期四
They won’t qualify for the program
The VIP Payment Plan (vippaymentplan.com) is fast becoming the best option for thousands of businesses across the U.S. to enable consumers to purchase their goods and services when the purchase price is beyond their ability to pay in full at time of sale. The product of a 19 year old A+ rated (BBB) financial services company in Clearwater, Florida, it has introduced to the marketplace a whole new way to complete the sale that, for many businesses and their clientele, will be the preferred method of payment in these economic times and for the foreseeable future.
A growing number of Americans are being prevented from making certain essential purchases – i.e.: emergency medical or dental care – expensive auto repairs – major appliance replacement – due to the inability to use credit cards or qualify for short-term traditional financing they had always relied on in the past as a safety net.
The VIP Payment Plan is an innovative new program that is as much an advertising strategy as it is a vehicle for facilitating the purchase of consumer goods and services. This strategy allows businesses to attract significantly more traffic into their stores than had previously been possible through typical advertising methods. And more traffic means more sales and increased profits for merchants that offer the VIP Payment Plan.
This innovative payment option is used in much the same way that a grocer might use a 99 cent gallon of milk to lure customers into his store. Business growth is achieved by simply deploying old-fashioned banner advertising that invites the consumer in to apply for this new alternative payment plan.
The VIP Payment Plan appeals to that ever increasing new category of consumers once known as the middle class, but who now carry a new label: “Credit Score Poor.” This group of Americans currently number in excess of 70 million. They have been able to keep their jobs in this depressed economy but have suffered a drop in the credit ranking used by credit card companies and other lending institutions that now hangs around their necks like a scarlet letter – the dreaded FICO™ credit score.
This program is not for those high-risk consumers with a less than desirable credit history who don't make their payments on time. They won’t qualify for the program. The VIP Payment Plan was designed for those consumers that are principled and strive to maintain a good credit record by taking responsibility for their financial obligations.
But a drop in credit scores has locked many of these consumers out of the marketplace for many mid-priced goods and services – those between $300 and $2,000. This is due in many cases to policy changes by the lending institutions, and other circumstances beyond their control. They can still make the payments, they just can’t qualify for credit cards or loans like they used to.
Merchants and Service Providers can now utilize the VIP Payment Plan to provide these consumers with the goods and services they want or need by extending zero-interest payment terms for 90 days with no credit check. You read that right, there is no interest charged and no credit bureau inquiry. This is not a loan.
This has nothing to do with checks – post-dated or otherwise, and there is no special equipment to buy or lease. The merchant simply logs on to the Internet and completes the 2 minute application on the VIP system’s secure online portal. The sale is approved or declined almost instantly. Once approved, the program generates a pre-agreement form whereby the customer pledges payments via electronic debits from their bank account. The VIP Payment Program then guarantees the payments to the merchant, who just turned a “no sale” into a satisfied customer. This is true a win-win for everyone.
Without a credit check, nearly every application is approved because the VIP system employs a proprietary algorithm that measures personalized risk factors rather than an impersonal computer-assigned credit score. Consumers are seen as more than just a credit score by the VIP Network merchant. They are seen as human beings who have every right to purchase the goods and services they want or need like anyone else.
When the business advertises this option like that 99 cent gallon of milk, they report traffic increases immediately. In fact, most merchants who utilize this strategy see a measurable surge in traffic almost overnight and significant upturns in sales and profit margins in the first 30 days. These merchants have achieved these results while reducing their credit decline rates, at essentially no net cost to their business, other than a small one-time participation fee.
The nominal cost of achieving and maintaining these astounding results is offset by a small convenience fee added to each payment, which the customer is happy to pay, instead of paying high–interest loan or credit card rates, or being subjected to an intrusive credit check.
This is the stimulus package that is producing real results for American businesses nationwide.
Besides all that it has been able to accomplish for business owners, The VIP Payment Program has also created a lucrative income opportunity for its many independent enrollment agents with this cutting-edge service.
Because of this extraordinary service, the VIP Payment Plan is now experiencing exponential growth and receiving unparalleled interest from entrepreneurs and business opportunity seekers who believe they have found “the” perfect product that will enable them to earn a respectable income, while offering merchants and service providers an honest, common sense option they can feel good about presenting to their customers.
The VIP Payment Program mantra: “It’s time to take our economy away from the bankers and government bureaucrats and put it back in the hands of the business owners and their customers where it belongs.”
A growing number of Americans are being prevented from making certain essential purchases – i.e.: emergency medical or dental care – expensive auto repairs – major appliance replacement – due to the inability to use credit cards or qualify for short-term traditional financing they had always relied on in the past as a safety net.
The VIP Payment Plan is an innovative new program that is as much an advertising strategy as it is a vehicle for facilitating the purchase of consumer goods and services. This strategy allows businesses to attract significantly more traffic into their stores than had previously been possible through typical advertising methods. And more traffic means more sales and increased profits for merchants that offer the VIP Payment Plan.
This innovative payment option is used in much the same way that a grocer might use a 99 cent gallon of milk to lure customers into his store. Business growth is achieved by simply deploying old-fashioned banner advertising that invites the consumer in to apply for this new alternative payment plan.
The VIP Payment Plan appeals to that ever increasing new category of consumers once known as the middle class, but who now carry a new label: “Credit Score Poor.” This group of Americans currently number in excess of 70 million. They have been able to keep their jobs in this depressed economy but have suffered a drop in the credit ranking used by credit card companies and other lending institutions that now hangs around their necks like a scarlet letter – the dreaded FICO™ credit score.
This program is not for those high-risk consumers with a less than desirable credit history who don't make their payments on time. They won’t qualify for the program. The VIP Payment Plan was designed for those consumers that are principled and strive to maintain a good credit record by taking responsibility for their financial obligations.
But a drop in credit scores has locked many of these consumers out of the marketplace for many mid-priced goods and services – those between $300 and $2,000. This is due in many cases to policy changes by the lending institutions, and other circumstances beyond their control. They can still make the payments, they just can’t qualify for credit cards or loans like they used to.
Merchants and Service Providers can now utilize the VIP Payment Plan to provide these consumers with the goods and services they want or need by extending zero-interest payment terms for 90 days with no credit check. You read that right, there is no interest charged and no credit bureau inquiry. This is not a loan.
This has nothing to do with checks – post-dated or otherwise, and there is no special equipment to buy or lease. The merchant simply logs on to the Internet and completes the 2 minute application on the VIP system’s secure online portal. The sale is approved or declined almost instantly. Once approved, the program generates a pre-agreement form whereby the customer pledges payments via electronic debits from their bank account. The VIP Payment Program then guarantees the payments to the merchant, who just turned a “no sale” into a satisfied customer. This is true a win-win for everyone.
Without a credit check, nearly every application is approved because the VIP system employs a proprietary algorithm that measures personalized risk factors rather than an impersonal computer-assigned credit score. Consumers are seen as more than just a credit score by the VIP Network merchant. They are seen as human beings who have every right to purchase the goods and services they want or need like anyone else.
When the business advertises this option like that 99 cent gallon of milk, they report traffic increases immediately. In fact, most merchants who utilize this strategy see a measurable surge in traffic almost overnight and significant upturns in sales and profit margins in the first 30 days. These merchants have achieved these results while reducing their credit decline rates, at essentially no net cost to their business, other than a small one-time participation fee.
The nominal cost of achieving and maintaining these astounding results is offset by a small convenience fee added to each payment, which the customer is happy to pay, instead of paying high–interest loan or credit card rates, or being subjected to an intrusive credit check.
This is the stimulus package that is producing real results for American businesses nationwide.
Besides all that it has been able to accomplish for business owners, The VIP Payment Program has also created a lucrative income opportunity for its many independent enrollment agents with this cutting-edge service.
Because of this extraordinary service, the VIP Payment Plan is now experiencing exponential growth and receiving unparalleled interest from entrepreneurs and business opportunity seekers who believe they have found “the” perfect product that will enable them to earn a respectable income, while offering merchants and service providers an honest, common sense option they can feel good about presenting to their customers.
The VIP Payment Program mantra: “It’s time to take our economy away from the bankers and government bureaucrats and put it back in the hands of the business owners and their customers where it belongs.”
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