Payments Innovation

Paying strangers for big purchases is difficult.

Do you pay with cash?  Most people don’t like walking around with that much money.  Do you make a bank transfer? That might take more time and involve more fees than you bargained for.

Pete Janes is the Founder & CEO at Shieldpay, a company specializing in digital escrow accounts that help remove the danger of large transactions with strangers.

A lot of private marketplaces leave buyers and sellers to their own devices, and as a result there is a large fraud rate. As high as 12%!  Shieldpay was born when a friend of Pete had his car stolen via a fraudulent purchase back in 2016.

Pete knew this was a large problem that needed to be solved.  He also knew it had implications for the real estate world. And that this type of transaction was applicable for international payments as well!

In this episode of Payments Innovation, Pete talks to us about Shieldpay’s method, the vetting process, their advantage over competition, real estate transactions, and the future of his company.

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Buying from Amazon versus ordering from a catalog.

One is a lot easier than the other.  One is a lot faster than the other. And one feels a whole lot more “2018” than the other.

So why do many B2B companies still make purchases through outdated means?  John Tomich is the CEO & Co-Founder at Credit Key, and he believes that many B2B practices are lagging 10+ years behind B2C, and that includes ecommerce.  But the tide is shifting.

As people are getting used to purchasing B2C products so easily through Amazon and other online retailers, they are starting to expect the same experience on the B2B side of things.  Why should they have crawl through a clunky, poorly designed distributor site? Or order manually through a catalog? Yes, that still happens!

John’s company, Credit Key, is bringing that simple shopping cart solution to the B2B world.  Their platform allows B2B companies to offer innovative payment options and real-time credit extensions all within an easy to use interface that matches B2C Ecommerce experiences.  There’s a B2B payments revolution happening, and Credit Key is on the front lines!

In this episode of the Payments Innovation podcast, we sit down with John to hear about the B2B payment space, delivering credit extensions in real time, and competition within the industry.

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Banking is becoming more mobile.

You want to be able to manage your portfolio and trade stocks on the go, but security is at the forefront of everybody’s mind.  How do you ensure that your favorite apps are securely storing and managing your data?

Nathan Richardson is the CEO at TradeIt, an API infrastructure that links retail investors and app developers with any online financial broker.  Nathan first dove into the API space when he headed up Yahoo Finance in the early 2000’s. Nathan and his team developed a financial data ticker as a widget that they distributed to partners.

Years later, Nathan started TradeIt when he saw that many financial institutions in the US were behind in implementing API technology.  He knew he could build a platform that could help brokers offer secure solutions to customers. He found that financial institutions that adopted API strategies and learned to innovate tended to be the most successful.

These same institutions are engaging their customers better -they are meeting them in the apps they already love.  Best of all, there is no one size fits all approach. Clients can customize TradeIt’s platform to fit their needs.

Nathan joined us for this week’s episode of the Payments Innovation Podcast to talk about the background of TradeIt, pitching his platform, and the future of API technology for financial institutions.

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Customer loyalty matters.

But there aren’t many examples of modern companies that are rewarding their customers very well.

Michael Rolph is the CEO and Co-founder of Yoyo Wallet, a platform that helps retailers surprise and delight their customers through streamlining payment options and customer loyalty programs.

Retailers can use Yoyo’s technology to allow customers to pay through their own app and get rewarded for purchases.  Or, as Michael would describe it, “We’re doing Starbucks meets clubcard, democratized for all retail, and better.”

Yoyo provides real time data and insights to go along with these campaigns so retailers can see exactly what is working and what is not.  Marketing doesn’t need to be a shot in the dark, and Yoyo helps retailers see their customers more clearly.

In this episode of Payments Innovation, we sit down with Michael to talk about customer loyalty, lessons learned by starting Yoyo, the Yoyo platform, and the future of the company.

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As an entrepreneur, you don’t get many shots.  Time is a finite resource, so how do you choose where to spend your time when investing in a dream?

Daren Jackson (President, CEO, and Founder of Rapid Financial Solutions) has experience in this area.  Over the years, Daren has spent time navigating regulations and complexities in the Payments world, and has come with up some do’s and don’ts for FinTech Entrepreneurs.

In this episode of the Payments Innovation podcast, we talk to Daren about how he got his start in FinTech, how he’s learned to roll with the many changes in the US Payments system, and how to succeed as a FinTech Entrepreneur.

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How many bills do you have to pay every month?  If you sat down and listed out all of your bills from memory, I bet you’d miss one or two.

Some bills change every month.  They can be due on different days, be for different amounts, and they can even hit you with huge late fees if you let one slip through the cracks.  It can feel like a stressful full-time job just to make sure you’re paying your bills on time every month.

Steve Gordon, VP of Product at Handle Financial, was sick of wasting his time paying (and sometimes missing) bills.  Steve was instrumental in developing a platform called Prism that allows people to not only keep track of all of their bills within one place, but to pay their bills more quickly and efficiently as well.

In this episode of Payments Innovation, we talk to Steve about outdated methods of tracking bills, building the Prism platform, the benefits of Prism, and how to get started with the App.

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Regulations, compliance, identity verification, bank partnership, the list goes on. In fintech, there’s a growing list of obstacles to consider when developing your financial product.

Wouldn't it be nice if you could peer into the mind of someone who’s sole goal was to solve these issues? You can. On our latest Currency Cloud Podcast, we spoke with Sankaet Pathak, CEO and Founder of SynapseFI.

Sankaet’s growing company now handles these account creation issues, as well as, compliance services, bank partnerships,  fund settlement, account aggregation, risk mitigation and others. With a growing list of customers north of 150 fintech clients, Sankaet’s knowledge on the industry is profound.

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Regulations, compliance, identity verification, bank partnership, the list goes on. In fintech, there’s a growing list of obstacles to consider when developing your financial product.

Wouldn't it be nice if you could peer into the mind of someone who’s sole goal was to solve these issues? You can. On our latest Currency Cloud Podcast, we spoke with Sankaet Pathak, CEO and Founder of SynapseFI.

Sankaet’s growing company now handles these account creation issues, as well as, compliance services, bank partnerships,  fund settlement, account aggregation, risk mitigation and others. With a growing list of customers north of 150 fintech clients, Sankaet’s knowledge on the industry is profound.

Fact: If you have no fraud, you’re losing business.

On today’s Payments Innovation podcast, Chris (Currencycloud) talks to Tedd Huff (VP of Product, GlobalOnePay) about who has the most online fraud, what makes fraud “friendly,” and where the future of fraud prevention is headed.

“Online fraud on average ranges anywhere from 0.3% up to 3% of total revenues for businesses in North America,” Tedd said.

It usually isn’t possible to stop a breach once it’s happened. So stopping it ahead of time is the key piece to handling fraud.

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