GMS Rebrands the V.I.P. Payment Program, An Interest-Free, No Credit Check Consumer Payment Solution

CLEARWATER, Fla. - June 20, 2013 - PRLog -- Clearwater, FL June 01, 2013 - Gulf Management Systems, Inc. (GMS) has unveiled a new, exciting brand and logo, identifying their latest innovation, which they are describing as an “absolute game changer.” Introducing ... Vipity!

Developed to help small to medium-sized businesses improve their bottom line, this well thought out fusion of GMS’s sophisticated, state-of-the-art electronic payment processing platform with a No Credit Check, Interest-free consumer payment program, both working in concert, was designed to quickly increase traffic that converts at a very high percentage.

This innovative, blended strategy allows businesses that engage the services of GMS to effectively serve those consumers in need of alternatives to credit-based financing that many can no longer qualify for. The VIP Payment Program is an interest-free, no credit check 90 day payment option that enables a bigger share of the consumer market to purchase the goods and services they want and need in this ever-changing, ultra-competitive market place.

This new and improved version of the VIP Payment Program, Vipity, has the added benefit to the merchant of being free of any transaction costs or fees, and is a more user-friendly customer financing option for both the merchant and the end-user/consumer. Previously, there was a 6.5% fee charged against every transaction, as well as an application fee to the customer, plus a small fee would incur when each payment transferred. These fees have all been eliminated. The consumer now pays a one-time $70.00 convenience fee, and the cost to the merchant per transaction … is zero!

Business owners need every advantage to stand out from the crowd while operating in a competitive marketplace amid a slumping economy. Consumers face a host of options that requires them to search out those businesses that can offer them quality service or products at affordable prices. Of mutual concern where the mid-to-high-end sale is at stake, is how the value-exchange will actually take place. Vipity offers both buyer and seller the right solution.

By enrolling in Vipity, those businesses whose average purchase price is more than what most of us typically carry in our pockets ($300 and up), can now provide the consumer affordable payment terms that are easy to qualify for, a good reason to choose them over their competitors.

Vipity is not financing but rather, an alternative payment program whereby the consumer authorizes GMS to debit payments from their bank account and deposit those funds into the business’ account on a pre-selected schedule over a 90 day period. It’s sort of like layaway in reverse, where the customer is able to enjoy the benefit of the product or service immediately, and the merchant is guaranteed payment over the next 90 days. The entire application and approval process takes under 2 minutes on the business’ computer using an online secure application.

Unlike similar programs that charge a percentage of every sale, and may include monthly minimums and endless add-on fees, substantially reducing the business owner’s proceeds, with Vipity, if the total sale price is $2,000 the business gets $2,000. Additionally, there is no equipment to buy or lease; no credit check on the consumer or the business; no checks to bounce; and no credit cards to chargeback.  

Business owners love that Vipity takes them out of the collections business - no more chasing down bad check writers and no more repeated calls or visits to the bank. All funds are electronically transferred from the customer’s bank to the merchant’s bank like clockwork automatically as the payments come due. Additionally, everything occurs on the store’s computer, so there is no special equipment to buy or lease.

Vipity is not a loan, and unlike what similar programs advertise, is not a “bad-credit” or “high-risk” program. Those consumers with a history of defaulting on their payment obligations won’t qualify. But for those in the low-to -moderate risk categories that just need a little help, having 90 days to pay is just the ticket to get them the $500 to $2000 worth of goods and services they seek. Finally, a consumer can prove their credit-worthiness without being barricaded by the Credit Bureau computers that only see them as numbers - as FICO™ scores.

Through powerful linking partnerships with data companies, the GMS system is able to gather and analyze data to compile a complex algorithm that produces a risk profile, and accurately forecasts the likelihood of future fraud. A person with a presence in certain negative databases has a reasonably high likelihood they will repeat the behavior that placed them there. Conversely, those who do not appear in those negative databases, have a higher likelihood of staying out of them in the future.

It’s a more common sense approach than using a simple credit score.  Any number of things that are completely out of a consumer’s control can negatively affect their credit scores. Many have been kept from entering into payment agreements they can live up to for the goods and services they want and need due to low credit scores alone. GMS thinks this is wrong.

The GMS system produces a snapshot of the applicant’s past behavior, so a more realistic determination can be made as to their creditability. So GMS is able to make better informed decisions about who qualifies and who does not. And all of this occurs in a matter of seconds once a merchant clicks the “submit” button on the online application.

When an entrepreneur makes the decision to go into business for him or herself, they don’t plan on becoming the banker for their customers. But if a business risks offering in-house payment terms, that’s exactly what they’re doing. They’ve invested time, effort, training, advertising, and in some cases, inventory costs, sometimes considerable parts and labor costs, into the sale, and now they’re financing that sale for the customer. At what cost - and at what risk? Vipity removes both of these concerns.

When the consumer is approved, they are consenting to have their bank account electronically accessed on a set schedule. Payment is withdrawn and delivered to the merchant’s account within 36-48 hours. The business can then focus its efforts on marketing and actually servicing its customers with reduced concern over whether or not the customer will be able to afford or qualify to make the purchase. Vipity will hold the customer to their promise to pay as agreed and manage the entire process, taking the business out of the collection business.

Business owners in the retail and service industries as well as medical and dental professionals can begin offering the Vipity program to their customers/patients by visiting http://www.vippaymentprogram.net.