Card Processing Services marks Canadian industry first with eSignLive’ eSignLive e-signature service
Montreal, QC, August 3, 2011 - Card Processing Services (CPS) will be the first Canadian credit card processing company in the country to use e-signatures to process merchant contracts. By employing Silanis’ e-SignLive cloud-based electronic signature service, CPS will improve client service, hone administrative procedures and sharpen its competitive edge in the marketplace. Card Processing Services provides small to medium-sized businesses with a variety of credit card processing systems at competitive rates to those provided by Canadian banks; in fact, CPS’ lower payment processing rates can improve merchant profit margins by up to 20 per cent. Currently, however, the paper contracting process for a new merchant is long and prone to signing errors that can have a negative impact on service quality, as well as potential sales volume. “Our company chose Silanis’ e-Signlive because it simplified the signing process for our clients,” says Michael Karaguezian, president of CPS. “We pride ourselves on providing our customers with a clear explanation of our services and contracts. Once merchants have taken time out of their busy days to discuss options with us, we wanted the actual contract signing process to be as quick and easy as possible. “Because the payment processing application can be up to 12 pages long and require seven or eight signatures, it can take two full weeks to get one contract hand signed. Using e-SignLive, we can now process an application correctly and hassle-free in about15 minutes.” While on the phone with the client, the CPS sales representative enters the necessary information into a merchant contract that is in PDF format. Then, instead of using the previous method of faxing the contract for review and signing, CPS simply emails the client the link to the PDF that has also been e-signature enabled. No downloads are required and the client can sign the merchant contract securely online from anywhere in the country. And because Silanis’ e-SignLive records the entire signing process from start to finish, subscribers benefit from a comprehensive audit trail that provides much stronger legal evidence than is possible with hand signing. “Many merchants are now aware that we can offer them a better payment processing rate than the banks do, but some of them are hesitant to make the switch because the process can seem intimidating,” says Karaguezian. “Paper signing means possible delays because documents have been printed on older machines and the fine print is not legible or because signatures weren’t placed in the right place. By moving our signing processes online with e-SignLive, we can circumvent these pitfalls and help retailers transfer to a more cost-effective payment processing system without spending a lot of their valuable time.” e-SignLive will not only help CPS improve its service quality. The time that the company shaves from its administrative procedures will also help CPS to expand its sales efforts. Currently, about half of the sales agents’ time is spent on duties related to execution and managing of the signing of the payment purchasing agreement. Now, agents can dedicate more of their day to increasing the company’s sales volumes. CPS selected Silanis’ e-SignLive after assessing several competing e-signing solutions. In addition to noting the ease and security of the web-based signing solution, the company was impressed by the service it received. The FREE edition of e-SignLive lets you invite your customers, partners and suppliers to electronically sign documents over the web, 24 hours a day / 7 days a week, from the convenience of their home or office. Try it now.
About Card Processing Services Card Processing Services is a leader in providing full-service payment processing systems to Canadian businesses. CPS ensures that its clients can accept credit and debit card payments easily and securely. Its wide variety of affordable payment processing options are appropriate for any size business or payment method, including mail and telephone orders, face-to-face or online. Credit card and debit card processing is a rapidly changing industry; Card Processing Services is dedicated to supporting its clients with the latest card processing technologies, giving them the tools to be as efficient and as profitable as possible. About e-SignLive As a cloud-based electronic signature service, e-SignLive offers the quickest time to market with the lowest up-front investment. With no software or hardware to purchase or install, subscribers can be up and running in minutes for a low monthly fee. Users can easily be invited to log into e-SignLive and electronically sign documents over the web. There’s no limit to the number of signers or documents involved--and no extra charges! e-SignLive is the ideal solution for signing non-disclosure agreements, sales contracts, real estate documents, insurance and loan applications, supplier agreements, employee on-boarding and HR documents, and more. About Silanis Silanis' solutions have processed hundreds of millions of e-signatures since the company was founded in 1992 (50 million in 2010 alone), making it the most widely used e-signature solution. The world’s largest insurance and financial services companies, government agencies, and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s on-premise, cloud and SaaS e-signature solutions eliminate manual, paper-based processing to enable e-commerce and e-government transactions to be executed fully electronically from start to finish.