The Payments Guy
Welcome to “The Payments Guy” — your ultimate guide to navigating the convoluted world of payments. Have you ever felt confused when reviewing your merchant account statement, understanding the role of payment gateways and processors, or dealing with customer disputes and chargebacks? You’re not alone! Each episode, we’re here to demystify the complex world of payments, bringing you top insights from industry experts and sharing real life payment horror stories that will help you make better informed decisions around accepting payments for your business.
Join in every other Thursday as we tackle the toughest questions and challenges in the payments space. From learning how to minimize the impact of disputes and chargebacks to exploring alternative payment solutions and ancillary services, The Payments Guy offers practical advice and solutions to help you successfully navigate the payments world. Plus, we'll feature interviews with experienced business owners and industry expert who provide valuable tips and tricks for streamlining your payments processes.
Whether you're looking to grow your business, avoid getting ripped off by your merchant services provider, or just want to understand the payments ecosystem better, “The Payments Guy” is your go-to resource.
Say goodbye to funding holds and pushy service providers —tune in and let us show you the money!
The Payments Guy
Episode 3: Who’s Who in Payments? A 101 Guide to the Players and Processes
Did you know that every time a customer swipes their card, there are up to six different players working behind the scenes to ensure the payment goes through? In this episode, join Frank as he unpacks the complex world of payment processing by shedding light on who’s really behind your payments. You’ll learn about the various players involved in a transaction, what they do, and how you can leverage this knowledge to your advantage. By the end of this episode, you should have a clear understanding of the key players involved in processing payments, including acquiring banks, payment processors, ISOs, and more.
In this episode these questions and topics will be covered:
• 1:54 - Who are the 8 key players in payment processing?
• 7:51 - Benefits of working with Retail ISOs: a wide network of payment solutions, negotiating better rates, streamlining the underwriting process, and providing ongoing merchant support.
• 12:12 - The transaction flow explained in six steps: from cardholder initiation to merchant receipt of funds.
• 13:41 - Fees breakdown: who takes a cut during the process and when these fees are deducted.
• 15:00 - Episode in review: key players in every transaction and their responsibilities.
If you found this episode helpful, leave a rating or review on your preferred listening platform, and share it with another business owner! Let’s set up more business for success.
Connect with PayDiverse:
Instagram: https://www.instagram.com/paydiverse
Website: http://www.paydiverse.com
LinkedIn: https://www.linkedin.com/in/franksena
