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I've refrained from writing about this for two years, but I'mconcerned about your future. We're on the edge of a new frontier,where there's gold in them thar hills, but you have to getto the hills first, and bandits are popping up everywhere.

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Have you heard about the next big thing? It will change yourlife.

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What do you do when a decision maker says, “We don't have apayroll slot,” or “Ms. Edna, my payroll lady, said no so I guess wearen't doing it?” In the past, you just walked away. After all, howdo you sell a payroll-deducted product or service when the employercannot or will not payroll deduct?

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You do it without a payroll slot. And when you do, the employernever holds funds and never gets a bill—from anyone. If you thinksingle-point billing is cool, wait until you see zero-pointbilling.

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There's a great new concept called split direct deposit that'sbeing pioneered by some of the top brokers in the industry. It'sthe first real game changer I've seen in my 25 years in thebusiness. Consider these questions to ask before selecting what werefer to as a Bill-Pay Facilitation Service, a company thatimplements your split direct deposit platform.

  1. Does your BPF have a secure facility where all documentsare housed? Are they compliant with all industrystandards? Do they require electronic badge/secure access to thefacility?

  2. Does it have a secure software system? Do theyemploy PCI-DSS, NACHA rules for data storage? How do they handledata encryption?

  3. Does it have a Bank Secrecy Act/Anti-Money LaunderingCompliance Program? Does your provider have a BSACompliance Officer?

  4. Does your BPF comply with Gramm-Leach-Bliley andHIPAA?

  5. Does Your BPF ask you to split commissions?

  6. Does it have a contract with your carriers of choicethat ensures the same payroll products/services can be offered asof the account was a traditional payroll account? Is therea potential conflict of interest between you and your BPF?

  7. Does your BPF have a proven track record in insurance,banking and technology?

With the right questions, you can separate the legitimatebusiness professional from the huckster who's simply looking for aquick buck.

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