First Data Merchant Services Corporation (FDMS)
is the largest third-party transaction processor for
merchants accepting credit cards for payment. FDMS distributes
its services primarily through bank partners. FDMS executives
turned to Weinstein to find innovative ways to deliver
services that would improve customer satisfaction and
Weinstein developed a Web-enabled merchant service
application for reporting, analysis, inquiries, service
changes and upgrades. Weinstein determined features
and functions offered and developed business requirements.
Weinstein led the development of support functions:
help desk, customer service, account set-up, fulfillment,
and security. Weinstein led market research efforts
to understand customer need, developed Implementation
Guides for merchants and bank partners, and developed
projections. Weinstein also obtained distribution commitments
from bank partners, vital to project success.
The new service greatly improved service quality,
improved customer retention rates, and reduced unit
costs over time. For merchants, the new application
served as a productivity tool and provided more detailed
information for decision-making, thereby improving back
office operations. Customer relationships were also
broadened beyond commodity processing services.