Selling Dreams, Not Terminals: Tuzo Rewards Surprising Revolution In Payment Processing

#Business #Expert Payments Attorneys of Global Legal Law Firm #Payments #Electronic Payments #Payments Industry #ISO #Payfac #POS #Point Of Sale #Merchant Processing

30:55

A secret field that summons lightning. A massive spiral that disappears into a salt lake. A celestial observatory carved into a volcano. Meet the wild—and sometimes explosive—world of land art, where artists craft masterpieces with dynamite and bulldozers. In our Season 2 premiere, guest Dylan Thuras, cofounder of Atlas Obscura, takes us off road and into the minds of the artists who literally reshaped parts of the Southwest. These works aren’t meant to be easy to reach—or to explain—but they just might change how you see the world. Land art you’ll visit in this episode: - Double Negative and City by Michael Heizer (Garden Valley, Nevada) - Spiral Jetty by Robert Smithson (Great Salt Lake, Utah) - Sun Tunnels by Nancy Holt (Great Basin Desert, Utah) - Lightning Field by Walter De Maria (Catron County, New Mexico) - Roden Crater by James Turrell (Painted Desert, Arizona) Via Podcast is a production of AAA Mountain West Group.…

The Payments Experts Podcast « »
Selling Dreams, Not Terminals: Tuzo Rewards Surprising Revolution in Payment Processing | PEP048

24 days ago 57:08

MP3•Episode home

Imagine turning every payment transaction into a positive experience for both merchants and processors alike. That's exactly what Tuzo Rewards has accomplished with their groundbreaking merchant rewards program.

Jeff and Hersh, the founders of Tuzo Rewards, take us on their journey from point-of-sale system developers to payment processing revolutionaries. After pioneering cash discount programs following the Dodd-Frank Durbin Amendment around 2012-2013, they recognized a fundamental flaw in the payment processing industry: the only time merchants contacted their processors was when something went wrong, creating an inherently negative relationship dynamic.

Their solution? Create a rewards program where merchants earn points based on their processing volume that can be redeemed for luxury watches, vacations, electronics, and more. The results have been nothing short of transformative. Rather than competing solely on price in the endless "race to zero," processors can now offer something genuinely valuable that competitors can't easily match.

Perhaps most surprising is how this program has reversed pricing trends. Merchants are willingly accepting higher rates (often moving from 3.5% back to 3.99%) just to participate in the rewards program. This creates a win-win scenario where merchants receive tangible benefits they truly value while processors maintain healthier margins. For ISOs and agents, the sales conversation shifts dramatically from "Let me save you money" to "What rewards would you like to earn?" - turning transaction processors into dream facilitators.

Ready to transform your payment processing business with a solution that creates positive touchpoints throughout the merchant relationship? Discover how Tuzo Rewards is changing the game by visiting tuzoRewards.com or reaching out to Jeff@tuzoRewards.com and Hersh@tuzoRewards.com.

Visit us today: https://www.globallegallawfirm.com/

A payments podcast of Global Legal Law Firm

Chapters

1. From POS to Payments Evolution (00:00:00)

2. Birth of Cash Discount Processing (00:09:08)

3. Integration Explained: Connecting POS & Payments (00:16:45)

4. Introducing Tuzo: Merchant Rewards Revolution (00:27:17)

5. Building Merchant Loyalty Beyond Price (00:36:20)

6. Lifecycle Benefits & Implementation Success Stories (00:48:40)

51 episodes

The Payments Experts Podcast

Selling Dreams, Not Terminals: Tuzo Rewards Surprising Revolution in Payment Processing | PEP048

The Payments Experts Podcast

published 24 days ago

MP3•Episode home

Visit us today: https://www.globallegallawfirm.com/

A payments podcast of Global Legal Law Firm

Chapters

1. From POS to Payments Evolution (00:00:00)

2. Birth of Cash Discount Processing (00:09:08)

3. Integration Explained: Connecting POS & Payments (00:16:45)

4. Introducing Tuzo: Merchant Rewards Revolution (00:27:17)

5. Building Merchant Loyalty Beyond Price (00:36:20)

6. Lifecycle Benefits & Implementation Success Stories (00:48:40)

51 episodes

#Business #Expert Payments Attorneys of Global Legal Law Firm #Payments #Electronic Payments #Payments Industry #ISO #Payfac #POS #Point Of Sale #Merchant Processing

All episodes

The Payments Experts Podcast

1
Cash Card or ChatGPT Receipt Hack? Behind the Scenes of Payment Processing w Allen Kopelman | PEP051 50:12

3 days ago50:12

50:12

Two payments industry veteran experts talk about electronic payments in a way you have never heard before. Join Christopher Dryden, Esq., and special guest Allen Kopelman, Nationwide Payment Systems, Inc., for this in-depth, fascinating discussion. Check out Allen’s new NPS One platform coming soon, offering merchants a comprehensive business tool with rapid approval, virtual terminal capabilities, invoicing, links to accounting, embedded finance options, and more. The payments landscape is transforming rapidly through consolidation, technology integration, and changing fee structures, leaving merchants and payment professionals scrambling to adapt. Major processor mergers like Global Payments acquiring WorldPay have reduced competition while software companies increasingly control payment relationships, disrupting traditional ISO business models. Software has become the central battleground in payments. When every business operation connects to software platforms, those platforms increasingly dictate payment processing choices. "ISO software is the new ISO," as one expert noted, with many businesses finding their payment options restricted by their essential software providers. Private equity-backed companies are purchasing previously "agnostic" platforms and redirecting merchant payment streams, creating significant challenges for payment professionals who built businesses on residual income. Dual pricing (formerly cash discounting) and surcharging have emerged as critical merchant strategies, with approximately 35% now passing processing fees to customers. This shift occurs amid complex regulatory challenges – Visa capping surcharges at 3% while MasterCard maintains 4%, alongside state-specific regulations in New York, New Jersey, California, and Colorado. Merchants face practical implementation hurdles, especially in retail environments where displaying dual pricing on physical merchandise creates logistical nightmares. Despite digital acceleration, cash maintains surprising resilience. Many workers receiving pay cards immediately withdraw cash, while certain business segments (contractors, repair services, salons) continue offering cash incentives. One payments expert reported dispensing over a million dollars monthly from a small ATM fleet, demonstrating cash's enduring role in specific economic sectors. The industry faces critical ethical challenges too. Some agents program terminals to display higher surcharges than merchants actually pay, creating hidden profit centers. Others establish questionable referral relationships that potentially violate card brand rules or trigger money transmitter regulations. Without industry-wide agent tracking or standardized licensing, these problematic practices continue unchecked. What does this mean for your business? Understanding these shifting dynamics helps you make informed decisions about payment processing, software integration, and fee structures. Whether you're considering implementing dual pricing, evaluating integrated software options, or simply trying to minimize processing costs, staying informed about industry trends provides crucial competitive advantage in an increasingly complex payments ecosystem. **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** Go say hello to our guest Allen Kopelman over at https://nationwidepaymentsystems.com/ Visit Global Legal Law Firm today: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
ATMs to AI: The Complex Landscape of Real-Time Payments and Reg Changes with Patti Murphy | PEP050 47:22

14 days ago47:22

47:22

From ATMs so novel they didn't even have a name to AI-powered payment systems that can take your order perfectly—the payments landscape has transformed dramatically since the 1970s. Joining Chris Dryden on the Payments Experts Podcast today is Patti Murphy, the "Payments Maven of the Fourth Estate," whose four-decade journey covering payment technology offers a unique perspective on how far we've come and where we're headed. • Beginning her payments career in 1977 editing an EFT examination handbook when ATMs were so new they didn't even have that name • Discussing current CFPB changes under the new administration, including regulations affecting big tech payment apps handling $13 trillion annually • Explaining how real-time payments differ from services like Venmo and Zelle, which appear instant but process through traditional channels • Exploring Durbin 2.0 and its requirements that merchants have choice of networks, with only one owned by Visa or Mastercard • Examining Illinois' groundbreaking payment regulation and how 20 other states are developing similar legislation • Looking at the evolution of ISOs through partnerships with software vendors and adoption of AI technology • Highlighting innovative payment technologies including AI-powered ordering systems and SKU management for small retailers Patti shares fascinating insights about her early days editing an EFT examination handbook in 1977, witnessing the birth of electronic payments when the technology was so revolutionary that people joked about "a hand sticking out of a television handing you money." That science fiction has become our everyday reality. We dive deep into current regulatory challenges facing payment processors. The Consumer Financial Protection Bureau's changing role under different administrations has created a regulatory rollercoaster, particularly for big tech payment apps handling a staggering $13 trillion in annual transactions. Meanwhile, the Illinois legislation targeting card brands represents an unprecedented state-level challenge to payment networks—with 20 other states considering similar measures. Could this finally force federal action? The conversation explores real-time payments and how they differ from services like Venmo that merely create the appearance of instant transfers. We unpack Durbin 2.0's potential impact on network competition, and how the Capital One acquisition of Discover adds a fascinating new dimension to the payments ecosystem. For payment professionals, we examine how ISOs continue to evolve through partnerships with software vendors, combining sales expertise with technological innovation. The rise of AI-powered payment solutions—from automated ordering systems to comprehensive inventory management—represents both challenges and opportunities for industry veterans and newcomers alike. Whether you're a payment professional, merchant, or simply fascinated by how money moves in our digital economy, this episode offers valuable perspective on an industry that, as Patti puts it, "is the engine that keeps the economy going." Subscribe now and join the conversation about the past, present, and future of payments! **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** Visit us today: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Dual Pricing Revolution: How Tech is Changing the Game | Conversation With Paul Hadfield | PEP049 30:34

21 days ago30:34

30:34

Paul Hadfield shares his journey from college dropout to successful payment processor, emphasizing the importance of building sticky merchant relationships through technology and customer service rather than treating them as short-term revenue sources. Enjoy this conversation with James Huber, managing partner of Global Legal Law Firm. • Started in payments in 2001 after answering a newspaper ad while contemplating dropping out of college • Built and sold his first ISO in 2013, then created another payment processing company focused on long-term business building • Transitioned from a pure sales approach to technology-focused solutions as the industry evolved • Created a cash discount application for Clover that now has approximately 7,000 active users • Observed how COVID changed merchant and consumer attitudes toward payment processing fees • Focused business strategy on restaurant industry where point-of-sale systems can function as a "central nervous system" • Recently sold his second payments company while maintaining an entrepreneurial role • Believes in fostering honest feedback from employees to drive continuous improvement • Values building businesses with long-term vision rather than short-term profit goals Contact Paul at paulhadfield.co or email him at paul@trnxn.com. Imagine starting your career in the basement of a dental office, slinging merchant accounts on 100% commission, and building that hustle into multiple successful payment processing companies. That's exactly what Paul Hadfield did after answering a newspaper ad that promised ongoing monthly residuals for each sale—a concept so appealing it prompted him to drop out of college. What separates Paul's approach from many in the payments industry is his fundamental philosophy: "Never lose a customer." While some processors view merchants as revenue sources to exploit with hidden fees and restrictive contracts, Paul built his businesses treating merchants as long-term partners. This perspective became increasingly critical as the industry evolved from simple terminal-based systems to sophisticated technology platforms. The conversation explores how the payments landscape has transformed dramatically over the past two decades. Around 2016-2017, Paul noticed a pivotal shift where technology began outweighing relationships and pricing as the deciding factor for merchants. This realization led him to develop specialized solutions like a cash discount application for Clover and focus intensely on the restaurant industry, where point-of-sale systems can function as a business's "central nervous system" when properly implemented. Perhaps most fascinating is Paul's observation about how the pandemic fundamentally changed merchant and consumer attitudes toward payment processing fees. Pre-COVID, implementing surcharges or cash discounts often met resistance; post-pandemic, these practices gained widespread acceptance as consumers became more understanding of businesses' need to offset costs. After building and selling multiple payment companies, Paul shares valuable insights about entrepreneurship, leadership challenges, and the delicate balance of providing honest feedback in organizations. Whether you're in the payments industry or running any business, his journey offers valuable lessons about building sticky customer relationships and adapting to technological change without losing your core values. **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** Visit Global Legal Law Firm today: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Selling Dreams, Not Terminals: Tuzo Rewards Surprising Revolution in Payment Processing | PEP048 57:08

24 days ago57:08

57:08

Jeff and Hersh Moskowitz share how their payment processing journey led to the creation of Tuzo (https://www.tuzorewards.com/), a revolutionary rewards program that helps ISOs build stronger merchant relationships and increase portfolio value. • Started in point-of-sale systems in 2009, primarily serving convenience, liquor, and tobacco stores • Pioneered dual pricing/cash discount methodology around 2012-2013 following the Dodd-Frank Durbin Amendment • Developed Tuzo as a solution to the "race to zero" pricing problem plaguing payment processors • Created a rewards program where merchants earn points based on processing volume that can be redeemed for luxury items and experiences • Merchants willingly accept higher processing rates to participate in rewards programs • Merchants activate faster when earning rewards and are less likely to switch processors • Sales process transforms from selling processing to "selling dreams" with rewards as the focus • Positive touchpoints replace traditionally negative interactions between processors and merchants • Book values increase with rewards implementation due to increased merchant stickiness • Merchant relationships strengthen when processors help fulfill aspirational goals like vacations or luxury items Imagine turning every payment transaction into a positive experience for both merchants and processors alike. That's exactly what Tuzo Rewards has accomplished with their groundbreaking merchant rewards program. Jeff and Hersh, the founders of Tuzo Rewards, take us on their journey from point-of-sale system developers to payment processing revolutionaries. After pioneering cash discount programs following the Dodd-Frank Durbin Amendment around 2012-2013, they recognized a fundamental flaw in the payment processing industry: the only time merchants contacted their processors was when something went wrong, creating an inherently negative relationship dynamic. Their solution? Create a rewards program where merchants earn points based on their processing volume that can be redeemed for luxury watches, vacations, electronics, and more. The results have been nothing short of transformative. Rather than competing solely on price in the endless "race to zero," processors can now offer something genuinely valuable that competitors can't easily match. Perhaps most surprising is how this program has reversed pricing trends. Merchants are willingly accepting higher rates (often moving from 3.5% back to 3.99%) just to participate in the rewards program. This creates a win-win scenario where merchants receive tangible benefits they truly value while processors maintain healthier margins. For ISOs and agents, the sales conversation shifts dramatically from "Let me save you money" to "What rewards would you like to earn?" - turning transaction processors into dream facilitators. Ready to transform your payment processing business with a solution that creates positive touchpoints throughout the merchant relationship? Discover how Tuzo Rewards is changing the game by visiting tuzoRewards.com or reaching out to Jeff@tuzoRewards.com and Hersh@tuzoRewards.com. Visit us today: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Countering Friendly Fraud: Legal Remedies for Chargeback Fraud | Disputed Transactions | PEP047 17:28

4 weeks ago17:28

17:28

If you’re a merchant and you want help with chargebacks, this episode is for you! Friendly fraud is anything but friendly for merchants. In this eye-opening discussion, expert payments attorneys Larry Haines and Bryce Van De Moere expose the growing epidemic of customers who receive goods or services, then fraudulently dispute legitimate charges with their credit card companies. It’s chargebacks, baby – and they’re a growing problem. Banks allocate mere minutes to review chargebacks and overwhelmingly side with cardholders—approximately 97% of the time—regardless of evidence presented. For merchants left holding the bag, this creates a seemingly impossible situation. But there's hope in pursuing legal remedies directly against these fraudsters. The attorneys reveal powerful strategies for merchants to fight back, including litigation that can recover up to triple damages plus attorney's fees under California law. They explain how mechanics liens (which despite the name, aren't just for auto repairs) provide strong protection for anyone who provides labor or materials improving real property—from contractors to plumbers to classic car restorers. Most compelling is their insight into the psychology of these fraudsters. Many are serial offenders whose confidence grows with each successful chargeback, escalating from small disputes to brazen theft. Picture someone staying at a hotel for three weeks, paying a $10,000 bill, then disputing the entire charge despite completing their stay. For merchants tired of being victimized, this podcast offers a roadmap to recovery. With proper documentation and legal guidance, businesses can not only recover what's rightfully theirs but also develop a reputation that deters future fraudsters. The attorneys recommend focusing on disputes exceeding $5,000-$10,000, where the cost-benefit analysis favors legal action. Ready to stop letting fraudsters walk away with your products and services? Learn how to turn the tables and make them pay. Visit Global Legal Law Firm today: https://www.globallegallawfirm.com/ **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Navigating Merchant Match Violations: When Banks Don't Play By Their Own Rules | MATCH | PEP046 34:52

5 weeks ago34:52

34:52

Credit card processors and banks are putting merchants on the Match List without proper investigation or due process, even when merchants comply with removal requests for prohibited products. • Merchants being placed on Match List for having inventory of prohibited products, even with no sales • Banks failing to provide evidence of actual rules violations when challenged • Match List fines starting at $200,000 are negotiated down through the chain while merchants still pay full amount • Peptide research facilities being "blanket" matched despite operating transparently • Banks and MasterCard showing indifference to wrongful Match listings • Legal action often necessary as banks ignore reasonable requests for evidence • Merchant processing agreements prohibit class actions, making legal recourse difficult • Documenting all compliance efforts critical when facing potential Match listing If you're facing Match List issues, document all communication, challenge banks to show evidence of processed payments for prohibited items, and consider legal representation to navigate the process. **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** Visit us today: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Crypto Bros Need Payment Pros | Bitcoin Future in Payments with Derrick Hess of Zero Point | PEP045 31:25

6 weeks ago31:25

31:25

The world of payments is rapidly evolving, yet cryptocurrency remains largely trapped in investment portfolios rather than being used for everyday transactions. Derrick Hess of Zero Point, a veteran ISO with decades in the payments industry, believes this is about to change—and payment professionals will be the catalysts. Cryptocurrency offers two game-changing benefits that could revolutionize merchant services: substantially lower transaction costs (around 1% compared to the 2-3%+ charged by traditional payment networks) and complete elimination of chargebacks. For high-risk merchants especially, these advantages could be transformative. What's missing isn't consumer adoption—millions already hold crypto in wallets like Coinbase—but rather the payment infrastructure that connects these wallets to merchant checkouts. Hess envisions a future where customers simply scan a QR code at checkout, select their preferred cryptocurrency, and complete transactions that instantly convert to stablecoins like USDC, eliminating volatility concerns for merchants. This technology exists, but implementing it requires payment professionals who understand both the crypto ecosystem and real-world merchant needs. The urgency for ISOs to embrace this evolution is heightened by another industry trend: integrated software vendors (ISVs) increasingly dominating the payments landscape. As Hess notes, "If you don't have a vertical software, you're running out of time." The traditional ISO who could once sell to nearly every business on Main Street now finds their addressable market shrinking dramatically as vertical-specific software bundles payments processing. Despite the crypto market cap reaching approximately $2.7 trillion and projections of $10 trillion within 4-5 years, traditional financial institutions remain hesitant to fully engage. This creates an opportunity for payment professionals to position themselves as bridges between Web2 and Web3, bringing cryptocurrency payment solutions to merchants eager for lower fees and chargeback protection. Whether you're crypto-curious or crypto-skeptical, this episode offers valuable insights into how blockchain technology is poised to transform the payments industry. Connect with Derrick Hess on LinkedIn or visit zeropointus.com to continue the conversation about the future of payments. **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** Find Global Legal Law Firm today: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Banking on Innovation: The Evolution of Payments with Tom Lineen of WestTown Payments | PEP044 58:23

7 weeks ago58:23

58:23

Tom Lineen brings 25 years of payments industry wisdom to the table as he unpacks how WestTown Payments (https://www.WestTownpayments.com/) is transforming merchant services through banking integration. Having started at AuthorizeNet in 2000 as the 29th employee, Tom has witnessed firsthand the evolution from clearly defined industry roles to today's interconnected ecosystem. The conversation explores how Tom recognized an opportunity to partner with community banks that possessed direct card brand memberships but lacked the expertise to maximize their potential. This vision materialized in March 2020 when, despite pandemic uncertainty, WestTown Bank and Trust embraced his joint venture proposal. Unlike traditional sponsor relationships where banks and ISOs operate at arm's length, WestTown Payments became fully integrated with the bank, ensuring complete alignment on compliance and customer service priorities. Tom reveals how this structure proved particularly valuable when WestTown Bank was acquired by DART Bank in 2023. Through careful planning, they achieved a seamless transition where merchants experienced zero disruption—continuing to receive deposits and process transactions without interruption. This customer-first approach exemplifies the community banking philosophy that distinguishes their service model from national banks. The podcast delves into specialized verticals, particularly hemp and CBD processing, where WestTown's integrated bank model provides compliant solutions that national institutions won't touch. Looking forward, Tom shares his vision for DART 360, a comprehensive platform offering merchants access to checking accounts, loans, working capital, and other banking services alongside payment processing. This evolution represents the future for ISOs competing against Square and Toast—bundling financial services to transform thin-margin payment relationships into robust, multi-faceted partnerships. Industry professionals will appreciate Tom's insights on the upcoming Visa VAMP program changes scheduled for October 2023, which threaten to reshape the acquiring landscape, particularly for high-risk merchants. Connect with Tom on LinkedIn to learn more about how WestTown Payments can help payment professionals navigate today's evolving marketplace. **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** Visit Global Legal today: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
The ISO Survival Guide: Innovation in a Consolidating Payment Industry | Guests Payzli.com | PEP043 22:50

7 weeks ago22:50

22:50

The payment processing landscape is transforming dramatically, and nowhere is this more evident than in the changing relationship between processors, ISOs, and merchants. In this revealing conversation with the leadership team from Paisley, we dive deep into the future of payment processing and how innovation is reshaping the industry. Remember when Card Connect was acquired by First Data, and later when Fiserv stepped in? According to our guests, this marked a pivotal moment when service quality plummeted for many ISOs. "It used to take a couple of hours same day to resolve issues. Now it takes four, five, six days," explains one Paisley executive, highlighting the catalyst for their entrepreneurial journey. The team presents a fascinating metaphor that perfectly captures today's payment ecosystem: Paisley operates as a "nimble speedboat," able to quickly implement cutting-edge technologies and solutions. Fiserv and similar companies function as "big yachts" – dominant but slow to maneuver. And Visa? They're simply "the water" – the fundamental infrastructure without which nobody moves. What sets Payzli apart is their innovative approach to merchant services. They've developed AI-powered solutions for review generation, chargeback mitigation, and streamlined operations. Their point-of-sale system engages customers through push notifications, collects feedback through simple questions, and uses AI to generate authentic reviews that merchants can push to Google – just one example of how they're transcending traditional payment processing. The conversation takes a particularly interesting turn when discussing risk management and merchant communications. In an industry where funds can be held for weeks without explanation, Payzli emphasizes white-glove service and open communication channels, especially during sensitive situations like underwriting or risk holds. Whether you're a payment professional, ISO owner, or merchant looking for innovative solutions, this episode offers valuable insights into how the industry is evolving and how companies like Paisley are carving out their place in a consolidating market. Discover why the future belongs not to the largest players, but to those who can adapt quickly while maintaining strong partner relationships. Ready to learn more about Paisley's innovative approach to payment processing? Visit payzli.com or email support@payzli.com to connect with their team. Visit Payzli online at payzli.com or email support@payzli.com to learn more about their partner-centric payment processing solutions. ***** **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** ***** ******** Visit us today: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
The Future of ISOs: Adapting or Dying? | With Special Guest David Leppek of SignaPay | PEP042 45:35

8 weeks ago45:35

45:35

The traditional payment processing landscape is undergoing seismic shifts, and this provocative discussion with David Leppek, CTO of SignaPay, examines what many in the industry have been whispering about: are Independent Sales Organizations (ISOs) facing extinction? Major processors like First Data and Fiserv have been systematically pushing out their ISO channels, preferring direct relationships with software companies that now serve as the true acquiring partners. This consolidation creates a troubling gap in merchant services - who will advocate for higher-risk merchants when ISOs disappear? The legal experts at Global Legal Law Firm alongside Leppek explore how this shift might drive legitimate businesses underground or toward less regulated payment methods. The conversation delves into card brand policies that increasingly favor issuers over acquirers, creating fundamental conflicts of interest in how payment disputes are handled. A fascinating case study emerges around Visa's acquisition of Verify, which transformed a free chargeback prevention tool into a $45 per inquiry service - effectively killing a product that helped merchants avoid costly disputes. Cryptocurrency looms as a potential disruptor, though the panel debates whether its limited adoption after 15 years suggests inherent limitations or active suppression by incumbent payment networks. As one panelist memorably puts it: "My worst investment was getting into crypto. My second worst investment was selling it." For payment professionals, merchants, and financial technology innovators alike, this discussion illuminates the power dynamics reshaping how money moves in our economy. The future of payments may depend less on technology than on who controls access to the networks where value is exchanged. Ready to navigate the changing payments landscape? Subscribe to the Payments Experts Podcast for more insights on how legal and technological shifts affect your business. ***** **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** ***** Payment processing is undergoing a fundamental shift as major processors push out ISOs in favor of direct relationships with software companies, leaving high-risk merchants increasingly underserved and potentially driving transactions underground. • Independent Sales Organizations (ISOs) face extinction as First Data, Fiserv and other processors cut ties with their sales channels • Software companies have become the new acquiring partners, eliminating the need for traditional ISO sales forces • Banks lack appetite for servicing high-risk merchants despite having the capability to do so • ISOs traditionally serve as merchant advocates, helping businesses navigate complex compliance requirements • Card brands' tightening fraud policies across multiple BINs make it harder to serve merchants with higher chargeback ratios • Visa destroyed their Rapid Dispute Resolution system by acquiring Verify and turning a free service into a $45 per inquiry fee • Chargeback systems show clear bias toward issuers over acquirers, creating conflict of interest in dispute resolution • Cryptocurrency adoption remains limited despite being around as long as Uber • Card brands likely want to position themselves within crypto ecosystem rather than be displaced by it • Innovation in payment processing often gets shut down when it threatens established revenue streams Visit us today: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Auto Dealership Payments Unraveled with Dealer Pay | Five Businesses Under One Roof Expert | PEP041 33:45

9 weeks ago33:45

33:45

Julie Douglas, a 25-year veteran in the payments industry, shares how Dealer Pay (https://www.dealer-pay.com/team/) is revolutionizing auto dealership payment processing with innovative gateway technology and business efficiency tools. Her team has created software solutions that transform the traditional commodity of payment processing into valuable business intelligence across the five distinct operations within a dealership. • Auto dealerships function as "five businesses under one roof" with complex payment needs • Payment gateways serve as crucial tunnels for transaction processing, fraud mitigation, and interchange qualification • Real-time fraud detection tools provide risk scores that help dealers avoid potential chargeback situations • Integrations with dealer management systems enable data collection that improves operational efficiency • Traditional payment processors often use a "smash and grab" model that damages industry reputation • Future developments include integrating payables, creating unified platforms for financial management • The industry faces compliance challenges with surcharging practices varying widely between states • Customer feedback drives product innovation, unlike many software companies that resist enhancement requests • Payments technology is evolving beyond simple processing to become comprehensive business solutions Looking to modernize your dealership's payment processes with software that prioritizes security, efficiency, and customer experience? Visit dealerpay.com to learn more about our integrated solutions. ***** **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** ***** Visit us at: https://www.globallegallawfirm.com/ A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Secrets and Solutions for Merchants Trying to Obtain Processing with David Goodale | PEP040 52:07

10 weeks ago52:07

52:07

Dive into the complexities of merchant processing and arm yourself with powerful insights shared by industry experts in our latest episode. As the landscape of payments continually evolves, business owners face unseen obstacles that could impact their ability to thrive. During our engaging discussion, we explore the hidden costs associated with merchant agreements, ensuring that listeners gain a profound understanding of what affects their processing rates. Learn about the myriad factors that influence processing terms, including trading volumes and product risks. Uncover the often-overlooked importance of having a supportive relationship with your payment processor, ensuring that you aren’t left stranded during challenging times. This episode equips you with the knowledge needed to negotiate effectively, emphasizing preparation and an understanding of industry standards that can dramatically impact your success. Our aim is to empower merchants, nudging you towards informed decision-making and offering actionable strategies for navigating the often murky waters of payment processing. Join us as we delve deeper into effective practices for avoiding unfavorable conditions and building successful partnerships with your processors. Don’t let lack of knowledge hold you back – tune in now, and transform how you handle your merchant processing! Remember to subscribe, share this episode, and leave a review if you found value in our conversation. David Goodale has 24 years expertise as CEO at Merchant-Accounts.ca and specializes in online and multi-currency payment processing, helping clients in Canada, the USA, UK and Europe. ***** **Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.** ***** A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Surcharging Compliance for Merchants: Dual Pricing and Cash Discount What You Need to Know | PEP039 40:14

11 weeks ago40:14

40:14

Ever wondered how the payment landscape has transformed from outright prohibitions on surcharges to complex legal frameworks? Join us for an eye-opening discussion with Associate Attorney Leo Arzumanian, who sheds light on these intricate changes. We promise you'll walk away with a deeper understanding of state-specific regulations and the implications they hold for both merchants and consumers. From Minnesota's new consumer protection laws to New York's dual pricing allowances, we'll unravel the tangled web of rules and requirements that govern surcharging practices today. Leo Arzumanian takes us on a journey through the nuanced world of credit card surcharging, exploring the challenges merchants face in states with stringent laws and caps. We dissect recent updates from card brands like Amex and their impact on businesses. Discover how California's "junk fees law" and its exemptions for restaurants are influencing a broader trend towards transparency and compliance. As federal oversight diminishes, states are stepping up, creating a patchwork of regulations that every business owner must navigate. Our conversation doesn't stop at the laws; it also extends to the future of payment systems and the decline of cash. We consider the architectural issues of current payment rails and explore alternative cost-effective methods like ACH. Leo shares insights on why class action lawsuits around noncompliance are rare, and we discuss the challenges small businesses face in maintaining compliance across multiple jurisdictions. This episode is essential for anyone looking to understand the legal landscape of transactions and the opportunities that lie ahead in this evolving field. A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Exposing Bank Practices: Merchants vs. JPMorgan Chase Bank's Reserve Ratio Tactics | PEP038 29:14

16 weeks ago29:14

29:14

E-commerce merchants are grappling with the financial repercussions of major banks like Chase withholding funds under dubious circumstances. This episode highlights the frustrations faced by merchants, the lack of clarity in banking transactions, and the urgent need for transparency and advocacy in navigating these challenges. • Discussion of issues with funds being withheld by Chase • Examination of labeling deposits as fraud without specifics • Overview of the emotional toll on merchants facing uncertainty • Importance of transparency and communication in banking relationships • Call to action for merchants to advocate for themselves A payments podcast of Global Legal Law Firm…

The Payments Experts Podcast

1
Navigating Merchant Processing Agreements: Uncovering Hidden Risks and Negotiation Tactics | PEP037 43:16

17 weeks ago43:16