Payments Ground Game

In this episode, hosts Kevin & Elaina Smith are joined by special guest, Ken Musante, Founder and President of Napa Payments and Consulting. We explore the necessary relationship between acquiring sponsor banks and card payment processors, as well as how sponsor banks and independent sales organizations (ISOs) share different levels of responsibility and risk for the merchants they serve. We cover the game-changing role of automated tools in risk monitoring and underwriting as well as the vital importance of operational compatibility over mere cost in bank relationships. We also cover the kinds of things that can go wrong in sponsor bank relationships, how it affects the entities that do business with them, and what lessons can be gleaned from recent events.

Contact Ken Musante by reaching out to him on LinkedIn or visiting his website, Napa Payments and Consulting.

In this episode, hosts Kevin and Elaina Smith dive deep into the transformative power of technology in the payments ecosystem. We explore how to leverage scoring solutions, identity verification tools, and automated processes to enhance risk management and operational efficiency. We also discuss evaluating new tools, balancing cost vs. value, and ensuring scalability for future growth. Tune in to explore how these strategies can transform operational tactics in your business.

In this episode, hosts Kevin and Elaina Smith welcome payments industry marketing leader, Rebecca Walden. We address critical issues plaguing current marketing efforts in our industry—lack of creativity, excessive jargon, and a focus on self-congratulatory tactics. Our conversation explores why marketing in the industry often falls short of engaging potential clients and the perils of relying on pay-to-play awards.

We underscore the importance of authentic marketing and the benefits of humanizing a brand through its employees, as well as the careful management of personal and professional personas on social media platforms. Moreover, we touch upon the significance of clear policies, regular training, and the thoughtful use of personal content on business-oriented platforms like LinkedIn.

Rebecca discusses the criticality of reflecting genuine company values through marketing, especially during times of crisis. Kevin and Elaina highlight the importance of robust networks, personal growth, and meaningful connections in navigating economic downturns and career transitions.

We also explore the synergy between marketing and sales, the importance of a feedback loop, and the need for consistency in messaging. Rebecca shares insights on embracing new strategies, monitoring and experimenting over the long term, and ensuring marketing is an integral part of product design and customer experience.

Join us for this profound discussion, brimming with actionable insights, as we strive to elevate marketing practices in the payments industry.

Connect with Rebecca on LinkedIn: https://www.linkedin.com/in/rebeccacwalden/

In this episode, hosts Kevin and Elaina Smith unravel the complexities of Acquiring Bank Identification Numbers (BINs) and their pivotal role in the payment processing ecosystem. This episode is perfect for payment ISOS and professionals eager to deepen their industry knowledge!

Three Key Takeaways:

Understanding BIN Responsibilities: Managing a BIN involves underwriting, risk management, and meticulous reconciliation. It’s not just about having a BIN; it’s about managing it effectively to safeguard your operations and maintain compliance with card networks.

Strategic Importance of Owning a BIN: Owning a BIN can drastically increase the value of your business by providing control over processing relationships and the flexibility to manage financial transactions, contributing to a robust exit strategy when selling your business.

Risks & Rewards: The pursuit of your own BIN is laden with considerable responsibilities and risks. However, for the right business model and with the proper financial backing and expertise, it can be a game changer, providing independence and competitive advantages in the marketplace.

Whether you're contemplating getting your own BIN or simply want to understand what your partners may be handling behind the scenes, this episode is packed with valuable insights!

On this episode of Payments Ground Game, hosts Kevin and Elaina Smith are joined by guest, Billy Boozer, the new CTO at Secure Bancard.  Billy shares his expertise on the vital role of customizable, API-oriented payments and the importance of prioritizing merchant experiences.  He highlights the benefits of integrating AI, maintaining operational efficiency, and the necessity of adapting rapidly to technological advancements.  We also delved into how businesses can leverage agility to outmaneuver larger enterprises and the significance of close collaboration among technical teams.  

Join us as we unpack the challenges and opportunities facing the payments industry today, and learn how businesses like ours are staying ahead of the curve by prioritizing flexibility, customization, and a holistic merchant experience. Get ready for an episode filled with practical advice, personal stories, and strategic insights that could help propel your business forward.

In this episode, we delve deep into the core of what makes a business thrive.   Join us as we unpack the journey of Ryan O'Leary, owner of SONA,  based in Nova Scotia. We shed light on the art of scaling with soul, diving into the differences between the Canadian and U.S. ISO market, and unpacking why quality always trumps quantity.

Key Takeaways:

- Maintaining Values at Scale: Learn how SONA upholds exceptional service and clings tightly to its founding values, even as it navigates the complexities of expansion.

- Insights into Canadian Payments and Sales Models:  Ryan O'Leary gifts us with an exploration of the Canadian market's banking infrastructure and sales strategies, contrasting them with the U.S. approach.

- Future-Focused Partnerships: We discuss the shift toward tech-forward payment solutions, emphasizing the synergy between ISVs and payment providers.

Tune in to hear about Ryan's transformative leadership practices, SONA's approach to sales that focuses on solid customer relationships, and the exchange of some fine Canadian whiskey and lobster promises.   And, if you enjoy our conversation around charting a course through authentic growth and staying true to your service ethos, don't forget to support us by sharing this episode and leaving your ratings and reviews.

To learn more about SONA, visit https://sonapay.ca/

To connect with Ryan O'Leary: https://www.linkedin.com/in/ryanoleary1/

In this episode of Payments Ground Game, we welcome John McCormick, a seasoned industry connector who played a pivotal role in establishing the Southeast Acquirers Association (SEAA.)  The SEAA revolutionized the way Independent Sales Organizations (ISOs) engaged with products and networks when it was founded back in 2001. 

The inception of this initiative was driven by a practical need: the challenge for salespeople to reach and connect with the numerous ISOs scattered across regions. The Annual SEAA Conference became a space where ISOs could convene to explore offerings, share industry insights, and enjoy a communal atmosphere without the typical hustle of their sales routines.

In the episode, we talk about why the regional shows are great for networking for a variety of different professions, ways you can use the shows to stay fresh on updates in our industry, and we even give a few recommendations on how you can get the most out of the upcoming show. 

So tune in, go ahead and register right after you listen, and we’ll look forward to seeing you in New Orleans!

In this episode of Payments Ground Game, hosts Kevin & Elaina Smith are joined by a special guest, James Shepherd, a well known industry expert who’s behind a few different successful businesses including ISO Amp and CCSales Pro.

In this episode, we talk about the significant shift in the ISO model over the past few years and do some forecasting about what’s to come. 

We talk about the trend of point of sale systems transitioning from being predominantly processor agnostic to now favoring integrated payment solutions.

Private equity firms are honing in on this, which is changing the profitability landscape for processor-agnostic POS companies.

James shares details around his venture into the self-storage sector, unveiling the lessons learned from an initial failure and then, his strategic comeback. This example really helps shed light on the specialized focus required in our industry today and the growing importance of vertical solutions.

We'll explore the changing ISO model and the future of payment processing, delving into the necessity for operational efficiency and scale. Plus, we'll cover the recent industry shifts, such as traditional gateway and terminal providers directly entering the market, upending old strategies and prompting a rethink on partnerships.

So, get ready to challenge the way you think about the ISO model and uncover what it takes to navigate this industry moving forward.

Stay with us as James Shepherd brings his perspective to the Payments Ground Game. 

In this episode of Payments Ground Game podcast, hosts Kevin and Elaina Smith explore the rugged terrain of long-term strategies and goal setting. We delve into the art of building your business with patience, prioritizing strong foundations over flash-in-the-pan success. We talk smart financing—equity, debt, and key partnerships—while highlighting the inevitable trade-offs, like maintaining control versus aggressive expansion. Always remember, align your business aspirations with personal values and long-term visions. And never underestimate the power of a well-matched business partner. Whether you're gearing up for growth or eyeing an elegant exit, it's your game plan that dictates your success. 

In this episode, hosts Elaina Smith and Kevin Smith take a close look at the crucial component of sales strategy: customer acquisition cost. They share insights on how to calculate this important number and discuss the implications for strategic decision-making. Using real-life examples and practical tips, they guide ISOs and agents on understanding the cost of acquiring new clients and balancing it with potential revenue. Tune in to learn how to effectively manage marketing spend and ensure a positive return on investment in the pursuit of new business.