Northern Leasing Systems Goes Global!
Northern Leasing Systems (http://www.northernleasing.net) is perhaps the largest independently owned lease company in this market place in the U.S. However, due to various changes in the market place and the growth of global commerce, its customers have expanded to other countries which provided the opportunity for Northern Leasing to support these sales organizations in these new markets.
Perhaps Northern Leasing’s largest growth opportunity is in Canada where recent regulatory changes have opened up the credit card processing business to non-bank credit card processors. This immediately provided an opportunity for U.S. based ISO’s to market their products to Canadian businesses. Northern Leasing is currently providing leasing service to some of the largest ISO’s in Canada as well as to banks seeking the advantage of offering leasing as opposed to financing terminals to merchants themselves. Eliminating the capital expenditure of providing terminals immediately adds to the seller’s bottom line. No need to wait many months to recoup the cost of the terminal. It also relieves the bank of tracking the asset and eliminates the need of an internal collection and customer service department. Northern Leasing has only recently entered Canada and is already processing over 1,000 leases a month. Customer service representatives fluent in French have also been added to insure the finest quality of service to this market.
Elsewhere, Northern Leasing was requested by one of its domestic partners to support its sales efforts in Puerto Rico. This required creating a Spanish version of its lease document as well as insuring the customer service department was staffed with Spanish speaking representatives.
The most exciting phase of Northern Leasing’s expansion has been the entry into the European market place. This was initiated by a significant portfolio purchase of existing leases from a major manufacturer of terminals in the UK. Northern Leasing re-structured its main New York City office to provide customer service in a timely fashion. Leveraging off this portfolio purchase, a sales initiative was initiated to identify and contact ISO’s within the UK to offer leasing services. Similar to circumstances in Canada, the UK merchants have traditionally been offered credit card processing via commercial banks. However in the last three years the ISO sales model has taken root and is growing at a fast pace. Northern Leasing has initiated an agreement with the UK’s second largest ISO and is currently negotiating with others.
Northern Leasing (http://www.northernleasing.net) has made initial contact with other banks and ISO’s in other countries including Ireland, Germany, the Netherlands, Finland and Sweden. Success in these other areas however is dependent on regulatory issues and slowly changing, imbedded cultural differences in how business is conducted. NLSI is active in attending European trade shows pertaining to electronic commerce such as “CARTES” held annually in Paris as well as the “European Card Acquiring Forum” held every year in Berlin. As the market place evolves and regulatory rules change, NLSI is positioned to take advantage of any opportunity in any western European country. NLSI seeks to be the world wide leader in terminal financing.
For information, please contact Richard J.Hahn, V.P. of Sales, firstname.lastname@example.org
Northern Leasing Systems is an equipment finance company specializing in the origination and servicing of micro-ticket leases.
Northern Leasing Systems
132 West 31st Street
New York, NY 10001, United States
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