Wednesday, April 13, 2011
Who's on First?
No, this is not actually a 3-Stooges bit. Its a short bit to reinforce the ongoing maintenance of clarification that the ever complicated card payment industry commands. There are few commerce instances where the network of relationships are so entirely dependent on one another. Its an industry in which it is almost impossible for a business to be an island. In one way or another, you are connected, monitored, certified, validated, regulated, watched and forced to cooperate with multiple other entities. As a result, "who's on first" can simply be a more complicated story than usual. Even simple things like the words we choose to identify our role in the payment chain get diluted and localized into shape shifted forms of their original design. I'll give you an example; What is your definition of a "Gateway?" I'll bet its not the same as the guy across the street. Its a popular term that means a different thing to many. Carpe Charge is a Payment Application Software. Carpe Charge provides a "virtual terminal" (here is another often distorted term) - this means that the "terminal" (the place where you click the buttons, like entering the amount of a payment) are presented on a computer screen. It is "virtual" because it is not a physical key pad box tied to the end of a phone line or data cable. However, we often hear the word "virtual" as a descriptor meaning "cloud" or "from the web." This is not the case, as Carpe Charge is a software, which means it resides on the users own server. If you follow much of us, you might know that we tell this story often. Not so much because we are bored and have nothing else to tell...but that the results of our interaction within the marketplace warrant a constant re-telling. Card Payments is a complicated web of interfaces. Knowing who does what and how they can be used as a viable tool is half the battle sometimes. As a software based virtual terminal, Carpe Charge is a great solution for the small-ish business that operates off a Windows based PC. Its an easy to use, easy to own solution that is easy for ISO's and Agents to grab and use. We integrate to several top processors and are always working on new integrations to more, with the theme of being "processor neutral." Plus, we don't touch the residual stream - something that sets us apart from almost every product on the market.
Monday, March 21, 2011
Game Changers & Game Joiners
In the bank card industry, to be a game-changer, you have to create a new channel of money or upset the risk management side of selling "discounts" to the point that you take away the other guys business like an avalanche.
But you can also be a game-joiner and still make headway. Whats import here, is that you know who you are and what your target is going to be.
Too often we see payment apps that try to be all things to all users. Truth be told, the re-selling ISO's are really the ones in the judges chair. It is their risk assessment that defines "who" that merchant really is, and "what" the best product to pair with their style of transactions (and risks) is going to work the best.
Whether a game-changer or joiner, make sure you know who your customer really is.
But you can also be a game-joiner and still make headway. Whats import here, is that you know who you are and what your target is going to be.
Too often we see payment apps that try to be all things to all users. Truth be told, the re-selling ISO's are really the ones in the judges chair. It is their risk assessment that defines "who" that merchant really is, and "what" the best product to pair with their style of transactions (and risks) is going to work the best.
Whether a game-changer or joiner, make sure you know who your customer really is.
Tuesday, November 16, 2010
Its All About the Risk
I talk to a lot of different people who are at every different level of the bank card industry every day. From the entry level agent who is knocking on doors to seasoned professionals who are the champions behind tens-of-thousands of accounts. And within all those different positions, there are a thousand little steps that make up each one. Despite all the pieces to this complex industry, its important not to forget where it all begins: Risk Management.
The very core root of credit lending and "cashless payments" is based on the liability of risk; Risk that the funds being presented are legit and risk that they will be paid in good faith.
From that core logic, the entire industry is built. Bank lending rates to Visa....Visa transaction share rates with processors...transaction rates passed on to the ISO's, MSP's and finally the merchants. The processors and ISO's who go the furthest are the ones who strategize on how to collectively assemble the highest volume in both merchants and transactions - as volume can help mitigate risk by diluting the pool. Lower risk = better transaction rates. Better transaction rates = more acquired customers.
The risk management strategy of getting that growth is the magic beans in this business. And assembling the right tools to meet your goals is important. There are no "one size fits all" products out there, just like there is no single business model that governs all of retail, restaurant, e-comm, gas, etc. So its important to choose products that support your risk management strategy in a method that makes boarding merchants easy, stable and suitable to their given environment.
The Carpe Charge product identifies itself in a few primary verticals. First, is the PC user environment. There are millions of businesses using PC's as their primary means of transactions and management with their customers. A perfect setting for Carpe Charge.
Coming soon we'll open up a wider market with our new API that allows POS makers to integrate Carpe Charge right into their system while simultaneously taking them out of scope of PCI, eliminating costly PCI certification fees.
As you assess your risk management specialties, be shrewd in selecting the right products to match your merchant needs. You will find a lower turn over rate and a more streamlined method for keeping a clean and functioning vertical.
The very core root of credit lending and "cashless payments" is based on the liability of risk; Risk that the funds being presented are legit and risk that they will be paid in good faith.
From that core logic, the entire industry is built. Bank lending rates to Visa....Visa transaction share rates with processors...transaction rates passed on to the ISO's, MSP's and finally the merchants. The processors and ISO's who go the furthest are the ones who strategize on how to collectively assemble the highest volume in both merchants and transactions - as volume can help mitigate risk by diluting the pool. Lower risk = better transaction rates. Better transaction rates = more acquired customers.
The risk management strategy of getting that growth is the magic beans in this business. And assembling the right tools to meet your goals is important. There are no "one size fits all" products out there, just like there is no single business model that governs all of retail, restaurant, e-comm, gas, etc. So its important to choose products that support your risk management strategy in a method that makes boarding merchants easy, stable and suitable to their given environment.
The Carpe Charge product identifies itself in a few primary verticals. First, is the PC user environment. There are millions of businesses using PC's as their primary means of transactions and management with their customers. A perfect setting for Carpe Charge.
Coming soon we'll open up a wider market with our new API that allows POS makers to integrate Carpe Charge right into their system while simultaneously taking them out of scope of PCI, eliminating costly PCI certification fees.
As you assess your risk management specialties, be shrewd in selecting the right products to match your merchant needs. You will find a lower turn over rate and a more streamlined method for keeping a clean and functioning vertical.
Tuesday, August 3, 2010
Sir Richard Branson Hears a Who
Would I be a fool not to take at least a little bit of input from my elders? Arguably so. But as with each of our individual needs, we'll all choose who passes our filters for advice. Here is one from the dude with the cool airplanes in the sky, Richard Branson.
http://www.virgin.com/richard-branson/blog/in-it-for-fun-not-just-money
Now let me ask this of our audience: How many of you dreamed of a career in the bank card industry? Come on now. Raise your hand. I'll wait.
....
Well, according to your application, seems most of you were looking at being an astronaut, race car driver, stunt man, lead guitar player for a rock band (some of you even the front man/ singer). A few more responsible types had ambitions for becoming a doctor. And a few really boring ones elected lawyer.
Seems few of us really ever laid in bed looking up at the stars and dreaming of how romantic, adventurous, dangerous or glamorous working in the bank card industry might really be.
For those of you who have hit the ball out of the park, please keep our little world a secret. After all, we still need kids to apply to be astronauts one day.
To that I want to want to help you put a face to our company. We adhere to a very strict "no tie" policy. We enjoy what we do. We laugh in the midst of our most hectic days. We enjoy our relationships with our partners. We have fun. We work hard. Very hard. We play hard. We have a passion for what we do, regardless the medium. And it just happens so, that we all landed here in a medium that we've found to be pretty interesting.
Transaction data transfer interesting? Well, sure. As interesting as that can be. But more so because of the people we've met with similar ideas and goals.
One of the very real and very core things that separates us from our "competitors" is that very attitude of who we are. Our turn-over here is so low its almost non-existent. We posses traits and abilities that you cannot hire. And all of this translates into a very great product. But that product is not greater than our people.
If that's who you are, aspire to be, or like to hang around - then we are your company.
Don't like people? Well, we have a great product all by itself too and you are welcome to it all the same. Just don't be offended if we are all smiling when you come through the door.
http://www.virgin.com/richard-branson/blog/in-it-for-fun-not-just-money
Now let me ask this of our audience: How many of you dreamed of a career in the bank card industry? Come on now. Raise your hand. I'll wait.
....
Well, according to your application, seems most of you were looking at being an astronaut, race car driver, stunt man, lead guitar player for a rock band (some of you even the front man/ singer). A few more responsible types had ambitions for becoming a doctor. And a few really boring ones elected lawyer.
Seems few of us really ever laid in bed looking up at the stars and dreaming of how romantic, adventurous, dangerous or glamorous working in the bank card industry might really be.
For those of you who have hit the ball out of the park, please keep our little world a secret. After all, we still need kids to apply to be astronauts one day.
To that I want to want to help you put a face to our company. We adhere to a very strict "no tie" policy. We enjoy what we do. We laugh in the midst of our most hectic days. We enjoy our relationships with our partners. We have fun. We work hard. Very hard. We play hard. We have a passion for what we do, regardless the medium. And it just happens so, that we all landed here in a medium that we've found to be pretty interesting.
Transaction data transfer interesting? Well, sure. As interesting as that can be. But more so because of the people we've met with similar ideas and goals.
One of the very real and very core things that separates us from our "competitors" is that very attitude of who we are. Our turn-over here is so low its almost non-existent. We posses traits and abilities that you cannot hire. And all of this translates into a very great product. But that product is not greater than our people.
If that's who you are, aspire to be, or like to hang around - then we are your company.
Don't like people? Well, we have a great product all by itself too and you are welcome to it all the same. Just don't be offended if we are all smiling when you come through the door.
Thursday, July 15, 2010
The Problem With Cloudy Weather
Who's to say which one is better...web based (cloud) solution termainals...or resident server based software? Are there pros and cons to each? Absolutely. But if you could only choose one, which would you choose and why?
Before I go on, I'll tell you that our end goal is to appease both solutions: web based and software based. So you might ask then "isn't it moot to care about the why's of both?" I don't think so and I'll explain.
Web based/ cloud solutions are getting a lot of hype right now. The mobile industry has driven this. Your smart phone works almost entirely on web based solutions. And in this trend, industry would like to sell you on other solutions that behave the same way.
In payments applications, this can present some issues. Namely, that to run a transaction with a cloud based system, you are engaging numerous additional steps to make this happen. For starters, your device must start the whole transaction by first calling up the application from the web. If step one is having issues, you cannot even proceed onto the rest. You are stuck, unable to complete a transaction. The basis of a web based gateway simply demands too many additional steps prior to the transaction actually moving to the direction of the end processor.
For a software based solution, you can at least store the transaction in a batch mode and run it once you have internet connectivity restored. And the transactions have far less steps involved to move toward the processor. In fact, they may have as little as one single step.
In almost anything, less is more. Simpler is better. The less moving parts required to get the job done, the more reliable the solution.
As mentioned above, we'll eventually offer a web based solution, if for no other reason than the market is somewhat divided on the topic and some people simply want them. Thats fine by us. We'll let the market make the decisions on what they want. Until then, we think its important for you to remain aware of the fundamental differences so that you can make decisions that are in the best interest of serving your merchants.
Before I go on, I'll tell you that our end goal is to appease both solutions: web based and software based. So you might ask then "isn't it moot to care about the why's of both?" I don't think so and I'll explain.
Web based/ cloud solutions are getting a lot of hype right now. The mobile industry has driven this. Your smart phone works almost entirely on web based solutions. And in this trend, industry would like to sell you on other solutions that behave the same way.
In payments applications, this can present some issues. Namely, that to run a transaction with a cloud based system, you are engaging numerous additional steps to make this happen. For starters, your device must start the whole transaction by first calling up the application from the web. If step one is having issues, you cannot even proceed onto the rest. You are stuck, unable to complete a transaction. The basis of a web based gateway simply demands too many additional steps prior to the transaction actually moving to the direction of the end processor.
For a software based solution, you can at least store the transaction in a batch mode and run it once you have internet connectivity restored. And the transactions have far less steps involved to move toward the processor. In fact, they may have as little as one single step.
In almost anything, less is more. Simpler is better. The less moving parts required to get the job done, the more reliable the solution.
As mentioned above, we'll eventually offer a web based solution, if for no other reason than the market is somewhat divided on the topic and some people simply want them. Thats fine by us. We'll let the market make the decisions on what they want. Until then, we think its important for you to remain aware of the fundamental differences so that you can make decisions that are in the best interest of serving your merchants.
Thursday, July 1, 2010
The Front Line
Vendors like us basically have two options to mobilize their product ideas:
a) Become an ISO so that you can complete the circle of setting up a merchant account and product. (which comes with a massive list of fees and logistics)
or
b) Put the product in the hand of professionals who are entrenched in the market and do everything you can to equip and support their mission.
Our aim is focused on the ISO/ MSP/ Agent channel. These are the people who sell the most important and critical pieces of the merchant account relationship. And our job becomes one of supporting that effort with a competitive product that compliments their portfolio.
We do this by making a product that is well targeted for a strong vertical, develop and support it 100% in-house and work toward integrating it with processors in ways that make the most sense for the market.
It's important to recognize this, because its a core component of our identity. That we position ourselves in line of support to the market in real time with the people who are on The Front Line.
a) Become an ISO so that you can complete the circle of setting up a merchant account and product. (which comes with a massive list of fees and logistics)
or
b) Put the product in the hand of professionals who are entrenched in the market and do everything you can to equip and support their mission.
Our aim is focused on the ISO/ MSP/ Agent channel. These are the people who sell the most important and critical pieces of the merchant account relationship. And our job becomes one of supporting that effort with a competitive product that compliments their portfolio.
We do this by making a product that is well targeted for a strong vertical, develop and support it 100% in-house and work toward integrating it with processors in ways that make the most sense for the market.
It's important to recognize this, because its a core component of our identity. That we position ourselves in line of support to the market in real time with the people who are on The Front Line.
Wednesday, June 30, 2010
MSP Priority: Speed of Set Up
When signing a new merchant, speed is one of many critical factors to getting your new merchant relationship off on the right foot.
Our shameless plug here is that with Carpe Charge, you can have a merchant up and running at the rate of speed that you it takes to get merchant account approval from the processor. As soon as you have an MID in your hands, its only minutes to get Carpe Charge installed and running on their PC.
Consider this when comparing to other products. We listen to ISO's and agents because this is where the rubber meets the road. Speed to set up is one of many priorities.
Sign up today at: www.carpecharge.com
Follow us on Twitter: http://twitter.com/CarpeCharge
Our shameless plug here is that with Carpe Charge, you can have a merchant up and running at the rate of speed that you it takes to get merchant account approval from the processor. As soon as you have an MID in your hands, its only minutes to get Carpe Charge installed and running on their PC.
Consider this when comparing to other products. We listen to ISO's and agents because this is where the rubber meets the road. Speed to set up is one of many priorities.
Sign up today at: www.carpecharge.com
Follow us on Twitter: http://twitter.com/CarpeCharge
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