Rocky Mountain Bankcard Systems Inc. has launched what's called a risk-free program designed to enable banks to offer credit card processing services to their merchant customers.
Uder the plan, banks refer merchant customers to Rocky Mountain.
Rocky Mountain, in turn, underwrites the application and upon approval executes a contract. Rocky Mountain also handles terminal installation, training, and servicing of the merchant on a continuing basis. The bank then shares in the revenues of each approved account by earning 10 basis points on the net volume of sales processed.
Rocky Mountain is based in Denver.