New MIC BankCard Program: More Savings, Better Service

Publish Date: 
Feb 3, 2010
By Arlo Redwine

Luckily, he isn’t retiring anytime soon. Tanzy’s recent integration efforts have been thwarted by the OEMs’ changing of banks. For example, Tanzy doesn’t yet have even a contact at Sheffield, which has took over several programs in the past two years. Another roadblock to integration comes when the banks change management.

MIC BankCard did once process Suzuki’s and Polaris’ revolving cards through the same terminal, so Tanzy’s goal isn’t unthinkable. “We want to do it,” he says. “It’s not us. We have all the programming resources. I have called these finance companies and said, ‘Guys, you don’t even have to do the programming. All you’ve got to do is give us your API, your automated protocol interface on how you talk to your guys. … We’ll do all the work. We’ll pay for it.”

Tanzy says the program’s new processor, First Data (see main story), has shown a lot of interest in renewing the effort. In fact, he plans to address the OEMs about it at the MIC board meeting during Dealer Expo. “I’ll tell them, ‘Guys, look, if you can put me in contact with your finance companies, we have the largest processor in the United States, and it wants — and will pay for — full integrations.”

In the Works: Swipers for Cheaper B2B Transactions
The MIC BankCard program is beta-testing technology that would allow dealers to pay for inventory by swiping their credit cards from home. Distributors and other wholesalers would mail to dealers a USB swiper that connects to a computer.

“Then their customers could actually swipe,” says program director Matt Tanzy, “and that saves a huge amount of money because it converts it from a mid or nonqualified into a qualified transaction, which is like a savings of a hundred basis points.”