Lent, “We are applying the efficiency of bank industry processing knowledge to campus card applications, while maintaining the unique characteristics of the traditional campus card.” In essence, the campus card payment will function with the sophistication of a traditional point-of-sale debit card-but with the university still in full control of the card. The core of the product offering is a hosted authorization system that utilizes open standards-based technology to facilitate transactions at university-approved locations.īut unlike more traditional campus card payment solutions, CardSmith leverages the existing national payment infrastructure and processing networks to acquire and route transactions to its centrally-managed host processing system. We plan to fill this void offering a product that requires no up-front capital investment and fits perfectly within institutions from 2,000 to 5,000 students.”ĬardSmith will be offering a product that powers core campus card applications, with a focus-at least initially-on enabling students to conduct financial transactions on and around campus. Many are too small or lack the resources to take advantage of current industry offerings. Lent, “there are literally thousands of campuses that have yet to deploy an effective card program. Our mission is to make it easier to afford, use and maintain so that the whole range of campuses can reap the benefits card programs bring to a campus.” “That it is a rare ‘everybody wins’ scenario. “We really believe in the campus card phenomenon,” he adds. We decided to expand our scope and build a new kind of product targeted at an underserved segment of this marketplace.” ![]() Summerall, “because there was the change occurring with SA Cash, we had a choice to make. Last year, Blackboard purchased the SACash product from Student Advantage. He continued these efforts by leading Student Advantage’s SACash development team after his company was acquired by Student Advantage in 1998. Co-founder and VP of Product Development, Taran Lent, created an off-campus card program at Dartmouth in the mid-1990s. CardSmith’s Founder and CEO, Jay Summerall, helped lead both AT&T and Student Advantage in the campus card arena. Though the company is new its management team is made up of campus card veterans. A company called CardSmith is working toward a Fall 2004 launch of a new campus card offering.
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