FinTech Fridays | The latest trends in FinTech, Crypto, & The Digital Commerce Event | B2B Vault: The Payment Technology Podcast

Yo, what's up everybody? It's Justin live from B2B Vault, the payment technology podcast with your host Allen Kopelman. And we'll be providing you educational information about business payments, fintech, decentralized finance, and the technology businesses use in today's world. And in today's podcast, we're presenting you with Fintech Fridays.

Yeah, it's showtime!

Yeah, so, uh, FinTech Fridays, we like to talk about everything related to financial technology. There's just so much going on inside of the, inside of the, you know, the industry. New changes, stuff getting shelved, new stuff popping up on the market, different ways of getting paid, uh, omnichannel solutions. I mean, there's just NFTs, crypto. I mean, we keep going and going and going and going. There's tons of stuff to talk about when it comes to financial technology. And on top of that, Allen was in the good old ATL, Georgia for the past couple of days at a different conference, the Digital—

MPC Digital Commerce Event.

Digital Commerce Event. It's a lot to swallow, but yeah, it's a long name.

Used to be the Mobile Payments Conference.

That makes more sense.

And then they changed it because, you know, mobile payments kind of— now the big thing is commerce in general and omnichannel or omnicommerce or whatever, or no one knows whatever, whatever name you want to call it.

But yeah, so that's what FinTech Fridays are. Um, so yeah, man, what's up?

Yeah, so what's, you know, some— we had a really long podcast about the conference and talked about different vendors that were there, and you know, the big discussions were, you know, we didn't get into a lot of stuff, but we talked about the wallets, which was like a whole big discussion about how people can pay with a wallet, how they're doing it in other countries, and how that's now starting to come to the US. You know, there's was some companies there from outside the US showing about bringing that to the US. And then, you know, the other thing was, which we didn't get into on the podcast so much, was the panel discussion I was on, which was all about point of sale or the point of purchase where the, you know, consumers, you know, what they bring to the, you know, what consumers want and then what businesses want and where does that converge, right? You know, so, and we talked about it today, it would be a great podcast. So we're going to do a podcast called What Do Consumers Want, What Do Businesses Want. But that's, that's what the whole panel was discussing. So we were discussing, you know, how large companies, which we've talked about before, like Olive Garden, right? How do they deliver a superior customer experience? While it might not be everybody's cup of tea when it comes to food, right? Well, we're just looking at it from the technology side. How, you know, you can order your food online, you could either show up at the restaurant and pick it up inside, or drive up, get it delivered, or drive over, pull into a parking spot and they come bring it out to your car and stick it in your car.

Yeah, it's pretty amazing.

Yeah. And now we're bringing that same style of software into the SMB market, which is small to medium-sized businesses, to where those businesses now can accomplish all of that. Like a small retail— a small retail store could do it, a restaurant can do it. They get a website. They get— it's crazy. Like the how far software has come and what you can do with the dashboard and everything, right? What you can do with everything, right? So it's pretty, pretty, pretty amazing. And on the panel was a guy from the Federal Reserve, and we're also talking about like payments, how, how the way people pay, like, so the amount of people using like taking their card and sticking the chip in the machine versus now tapping and pay with their card, or opening or using a wallet on their phone, you know, namely Apple Pay and Google Pay, the two most popular ones. There was, there was another one, Samsung Pay, but that one went out because it was using some different technology. No longer—

Samsung Pay isn't around anymore.

I think they're redoing the wallet now. They redid it.

So, oh, it's gone for a while. No, it's back up.

Yeah, it's back up. It was gone for a while. Now they're back, and now there's other companies trying to come out with other wallets, you know. So like, you could go to a website and check out faster if you had this wallet, and then you're already an authenticated user. Got it. So I thought it was pretty interesting from that standpoint. You know, we talked about would hardware ever go away. Like, I don't think so, because I think businesses are going to need to have hardware. I think now it's more about, you know, you have— it used to be like when someone got a point-of-sale system in their restaurant, it was really just a PC, right? You know, and now it's gone to these Android devices. With these Android devices, that a little tiny device has so much more memory than the PC.

Well, still, I mean, did it in the same sense, it's still a personal— I mean, like a computer, right? It's just a really small mobile version of it.

No, but I'm just saying, like, it's more powerful now than, like— and then also everything is more like a hybrid type of a situation where you have everything in the device, but then it's backed up to the cloud. So it's kind of a hybrid between, you know, the hybrid kind of thing. It's not all in the cloud and you're just using it in the cloud.

No, I get it, right?

It's like on the device too. So, you know, those those kind of devices really took off. And it was funny when we were talking about at the convention, started in this business 1998, you know, and the companies that were basically like all that had all the payment devices, Fairphone, Hypercom, and then a little bit was another, a third company called Littman Narit, and they were kind of like the, the up-and-comer. Now you don't hear about any of those companies.

I was going to say, I never heard of them, right?

You never heard any of them. Now everything is Pax, Deja Vu, and then there's some other newcomers into the market.

I've heard of Pax, right?

Now there's more newcomers coming into the market, Newland and some other companies, all with Android, Android devices, you know, right?

The technology, that's what they're using.

Yeah, it's just technology, it's just technology, the operating system. Yeah, the operating system, but because of the Android, it's easy, it's much faster to like certify things and put apps in there. And a lot— and that's the other thing we were talking about, how it's with these Android devices, you can have like a marketplace, and then there's apps that people can put onto their device that can, that can further help them run their business, like linking up to a time clock program, right? So employees could clock in and out, and then you send the file to your it's really cool. Payroll company, right? Yeah. And, and a lot of different things like that. Like, oh, putting a QuickBooks plug-in and then taking everything from the point of sale and flushing it to— yeah, pushing it over to QuickBooks. And, you know, all different kinds of things that can help your business. Marketing things like, oh, put an app in there for text messaging, put an app in there for email marketing and sending out coupons via text and email. So there's a lot of things where it's just you can have constant growth in these marketplaces because with Android it's so much faster to develop. Yeah, really, these apps, people can go to overseas.

And then, and then when you say faster to develop, you mean it's, it's faster to get approved, or—

yeah, faster to get to make it and faster to get approved. Because with Apple, there's a whole procedure getting into the Apple Store, right? And that now you see this big movement because A few years ago, there was quite a lot— there was quite many— there were many point of sale that were just running on Apple devices, and it became tedious because every time Apple would make updates, that you got to make sure the client didn't update the tab, the, the iPad, before the software was updated, right? Because they would update the iPad, then the whole point of sale system would stop working.

I was gonna say, it sounds like a disaster. Disaster.

Yeah, so now everybody shifted and went over to Android. Android. So that's the big push now, Android. And that's why I was telling you, Deja Vu. And then, and then there's other companies like coming into the market, you know, and then they're connecting to these dashboards and all kinds of stuff so that now you can deliver a really diverse— so we just— I'll give you an example. So we just signed up this company that's going to put on a festival, right? I don't want to say who it is, but they're gonna put on a festival, and then they have a location where all year round people can come into their location and buy t-shirts and other memorabilia from the, uh, past shows. They sell posters and obviously the tickets to the festival and, and other things related to the festival, right? So they got set up with us, so they're going to get a point-of-sale terminal And then they're going to get a standalone kiosk so people can come in and just use the kiosk and order, which is definitely growing.

Yeah, that's the big thing.

And you know, you don't have to spend like $10 grand or $5 to $10 grand on a kiosk. We have now available, linked into the omnichannel, this kiosk. It's only like— you can get one of them, it's like around $1,100, the other one which is a little faster. It's like $1,500.

Faster meaning what?

It's like got a faster processor in it, like it'll just work a little faster. Not that much faster, it just depends like how much traffic.

Customer or client side?

For the customer to go in and order and then make their payment. Yeah, so now people can— they'll be able to walk into this place and place orders and then go to the counter and pick it up.

That's nice.

So make it real easy. And then when they have their festival, they need like 6 to 10 mobile 4G machines. They'll be able to just rent them from us. We'll send it there, you know, a week or two before the show. Then they'll have them, and then they'll use them for the show for people coming. You know, when people enter, they needed to pay the— pay for entrance. So to have a standalone machine, boom boom, text, email receipts, collect everybody's information. For— it's for a music festival.

Oh, a music festival.

Yeah. So they'll be able to have one or two of these at each entrance to the festival. And we're hoping that we're going to get some of— some business from some of the, um, vendors at the festival too, because they really like the system and everything. For sure. So it's, you know, and also like, let's say you're going to get a booth at the festival, they don't have to get the credit card from you over the phone. They'll be able to log into the dashboard, create an invoice, send it to you, you can just do a click and pay.

Nice.

You know, so we're enabling this whole, whole omnichannel experience.

Yeah, I was just, uh, explaining to somebody yesterday, as far as like in the music industry, he runs a studio, and I was explaining to him how he could use this system for, you know, you— one, you could take— you could set up if they want to put the payment, like, you know, they to block the timeout, you got to put a down payment down so you can send them a link like, hey, here's the down deposit, or you can invoice them, or I mean, there's just plenty different ways. And then I was thinking like, what if it's— because I used to record music, right?

Yeah.

And it's kind of expensive, right? Like, you know, it's— you got to pay the studio hourly, right? Um, typically it's a cash type of thing, right? Like you pay you give the guy the cash up front, right? If— well, I mean, I don't know what it's like anymore, it's been a long time, but I was just thinking like all those times we're like, oh man, I'm kind of short, or I don't have any cash on me, or blah blah blah. The excuses are endless, right, when it comes to, oh, you can't pay, right? Well, I mean, how many times like, man, give me your card, you know, I'll take your card, tap the card, have the machine right there and just take your card, man. So yeah, I mean, there's a lot of different options and I I was going back and forth with him and I was thinking one thing, like, I was gonna say, like, I was thinking about ways for even for recording artists to get paid. Like, how do you get paid? You invoice, right? And typically you use what? PayPal. And they're taking a piece. We don't take as much. Well, it's not even we, you know what I mean? Like, I don't know the rate from—

no, the rate is— our rate is less than PayPal.

Yes.

Okay. So we have a more competitive rate than what PayPal, Stripe, and Square are offering, and we're offering more services than they're offering.

And it's like all of those services in one, right?

And the cool thing is, let's say you do send someone a— let's say you send somebody an invoice and then they want to— and then they want to, um, ask you a question, they can message you back through the system and you can message with them, right? So it's not It's giving you all these options to run your business. It's a pretty incredible system.

It is really incredible. We're going to be coming out about new ways how to use it every year.

Yeah, we're going to come out with a video, and the video is going to show everybody in a very short video, going to use screenshots and then show everybody how easy it is to sign up, the sign-up process through the—

in the video.

Then we're gonna— then we're gonna make a video with showing the different screens inside of the software and explain to people how they can use it so people can really see the value in what we're— the product that we're promoting, because we have really put together really great ways on how you can use the product. Yeah, so it's very interesting, you know, what's going on. And customers expect this stuff from the business, so businesses need to get with it.

Oh, right. Like if you walk into a business and you don't, you know, you're— I don't know, they're swiping the card only, or you don't take credit, or I don't even understand. No, like today, there's just so many different things that's wrong.

So I'll give you an example. So this customer today was asking me, well, how can we market to our customers? How can we do it? So I was telling them, I go, listen, you either gotta A, collect the credit, the just to text, you know, people's mobile number from them. And then we hook you up with a text message service so you can just, you know, blast out text messages like we have. If you want more information from us, we have a texting thing set up. You can text us at 954-827-9818, text the word book, then we'll respond to you with a link to book an appointment. You can do the same thing for your business. Right. So, but with our new omnichannel, you can already collect all that information, right, without having a secondary system. You can collect it when people are making their payments, either through the web, through an invoice, through a payment link, or in person.

Indeed. Before we keep going, I just want to say thanks to all the new followers, the listeners. Shout out to you guys, man. Without this, you guys, it wouldn't be possible. Shout out to our sponsor, Nationwide Payment Systems, NPS Printer. Thank you. This beautiful backdrop was provided by Nationwide— and I mean NPS Printing. So yeah, man, they do a great job. Head over to B2BVault.info if you want to catch up on past episodes. We post the podcast every Tuesday and Thursday, the B2BVault Podcast, so never miss another episode. You can subscribe to the YouTube channel there.. They send you post notifications every time we upload the new video. Follow us on Instagram, Facebook, Twitter, TikTok, LinkedIn. We're always there, man. Come be a part of the community.

Yeah, so you guys have a question, if you go to the B2B Vault community.

Yeah, on Facebook.

Yes, sir. Ask a question on there or find on any post and ask a question under the post and then we'll answer you.

Yeah, and the podcast is available on iTunes, iHeartRadio, Stitcher, Apple Podcasts, Google Podcasts, Pandora, Amazon, Amazon, Overcast. It's all—

it's Google it, you'll see we're everywhere.

Yeah, if you— whatever favorite podcast streaming service that you listen to, you know, you use, I guarantee you the podcast is available. And again, If you're looking to get in contact with one of us, you could text the word book, B-O-O-K, to 954-827-9818, and we will get back to you as soon as we can. Yeah, man. So yeah, well, before I forget, B2BVault.info, there is some forms there if you don't feel like texting. There's a form there for you to get in touch with us. And on B2BVault.info, there's a beautiful little button on the top where it says Apply Now. If you're looking for a merchant account and, and, you know, you don't know where to start, click that button and we'll help you out.

Exactly. Yeah. So the other thing was discussed at the show was there was a lot of discussions about crypto and NFT. And then earlier, before I had went to Atlanta, I went to this Crypto Connection.

Oh, last Saturday?

Yeah. And, and it was a very interesting— there were like a lot of artists there, different types of businesses talking about um, real estate, you know, buying real estate with crypto, using smart contracts to close real estate deals. There was attorneys there, there were people trying to sell art. There was some guy with this rent-a-car thing which kind of flipped me out, was you could buy an NFT and then rent the car, and then you still have the NFT, and then you could sell it to somebody else. And they can rent the car. I don't know, I don't know, it sounds silly, but I don't understand all of these different things. There was a lot of different, different vendors at the show, so it just shows you like— and they had speakers all day.

That was on Saturday you're talking about?

Yeah, it was on Saturday and Sunday, so there was a lot of stuff going on. Palm Beach? Yeah, in Palm Beach at the convention center. So, you know, that was kind of— it's, it's nice when, you know, people are talking about crypto's dead. I don't think it's dead. I don't think it's dead at all. No, I think that, uh, it's definitely going to change. I mean, based on the, you know, what Congress— and they do, you know, they finally— whatever they figure out to do, then it'll finally settle down. But I think outside the United States, you know, it's also not— you know, there's not as heavy of regulation on, right, on crypto. So they're still using it in a transactional mode. And there's a lot of talk about, you know, should there be a central digital coin from the central digital bank? And, you know, like, how long would that take? So, you know, people were saying it could take 10 to 15 years before anything like that happens because they're talking about it, you know.

I think we're in for, you know, it's gonna another 5 to 10 years at least before we see like, uh, you know, like, uh huge merging of— from fiat to crypto.

Yeah, but it was amazing. The guy from the Federal Reserve was showing figures like how the— like cash used as a payment, there's still a ton of cash being used. Of course, the one thing that did decline was checks declined, but not at like double digits. It declined a small amount because I remember looking at a similar report several years ago, maybe like 5, 6 years ago. And checks, you know, checks had declined quite a bit and now they declined a little bit more. Hasn't completely, you know, right.

Because I mean, people are still—

you're talking about just paying with checks, paying with a paper check or getting paid with check? Both paper check, just a paper check in a transaction.

Unbelieving.

Yeah. So there's, you know, it's still around. But it's— and it's not hanging on by a thread. It was a double-digit, you know, it's a double-digit number.

Was it— people are getting paid by check.

Yeah, people are getting paid in check. People are paying bills with checks. People are mailing checks. A lot of it's in the B2B world for sure.

You know, business-to-business transactions, which we are trying to help you get away from by setting you up with an omnichannel account. Go to B2BVault.info and click that Apply Now button.

Right. Because we can do it for B2C and B2B. B2B. We set you up with a software package that gives you credit card processing and ACH. So you give your customer a choice. You want to pay us with a credit card or you want to pay us with ACH? And then we show you how you can position that with your business. And especially now with, you know, everybody's talking about, you know, the Fed, the rate went up. That was another thing that we're talking about at the show was the Federal Reserve guy's like, oh, I'm not the one that did that. He just works there. But you know, the Fed, that's one of the things they're talking about is how expensive it is. A lot of businesses use a credit line to like fund their purchases and everything. So you know, you can get away from that because maybe you're paying 6, 7, 8% on your credit line now because the Fed went up, and you could just take credit card and, and the plastic can cost you a lot less money.

Really?

You could give your customers incentive maybe even to pay you in plastic. Let them float it on their bank for 30 days, right? They're still getting the float that they want. You could get paid quicker, and then maybe you don't have to access your line of credit.

I like it.

I mean, we see it all the time. Like, I think in B2B, that the business-to-business wholesalers and distributors and people like that are not really putting their, um, putting, putting to work like the consumer— I called it, I even said it at the conference— the consumerization of payments. Where you need to give consumers what they want, you know, which is what we talk about. Like, you need to deliver the payment experience to your customer. Yeah, whatever, whatever I want to pay, man, you got to be like—

if I want to pay with Google Pay, you got to be able to accept that. If I want to pay with Apple Pay, you should be able to accept that. If I want to use, uh, you know, my credit card, you should be able to use that, you know. Like there should, there should be— you should be able to pay the way, accept payments the way that the consumer wants to pay you. And that's the final answer, right?

You gotta— that's what you need to do. Gotta, gotta get the right payment because people won't come there. Like, I went to eat at a restaurant, I don't want to say the name. The food was really good. Or should I say the name? No, no. Okay, so the food was very good. It's a very nice restaurant. Upscale. And then I have— I was at a conference, I'm not carrying around my wallet, right? So I have my wallet in my— and, you know, left it up in the room, not carrying it around. And, you know, somebody said, oh, let's go to lunch. So I was like, oh, I hope they don't pick someplace where I can't pay with Apple Pay because I'm treating a couple people to lunch, right? So we go there and I was like, oh, do you guys take Apple Pay?

No.

So I said to one of my, you know, somebody at the table, I was like, just pay for lunch and I'll send— I just Zelle them the money, right?

Because I felt bad, right? And I was like, it's a big place.

Yeah, a big chain restaurant. But what freaked me out is—

sheesh.

No, no, what freaked me out is this, man.

Name drop them.

Oh, it was Seasons 52. And I like eating there, but I'm just saying, like, how many—

how could they? What was it, cash and credit? That's—

no, that's credit card. But then it take the credit card over to the point of sale.

That's what I mean.

They didn't have any—

they didn't even have one.

I'm like, you guys should have at least one mobile machine, like, oh, someone wants to do that.

So no, so everyone has— so if everyone got up and paid at the same time, they would have to stay in line?

No, they would— the waitresses would all be waiting in line to go run the car. That's what I'm saying, right? I'm just saying, like, they gotta get with some nuts. They gotta get with the program. Yeah. The next day we went to eat at the place Lazy Dog. They have one in Boca. In fact, I want to take Rocky there because you can take your dog and eat outside. And they put some food in a bowl. And Rocky likes— like today we had office lunch. Yeah. So we ordered some chicken.

Thanks for lunch, Allen.

We put it in there every other Friday. So we go to the, you know, we give Rocky a bowl and, you know, get him a chicken or hamburger. He's passed out sleeping now. And, you know, and then, you know, it's a lazy dog, right? Lazy dog. So they do that. Like, we went to another place, the Naughty Dog Cafe. It's by the water. Nautical Dog Cafe, right? We go, we take Rocky there, and they bring him a hamburger and a dish, you know. So they're giving their customer what they want. Oh, bring dogs here, it's a dog-themed restaurant.

And you can pay with Apple Pay if you want to, right?

So they bring a— yeah, that— yeah, so the Nautical Dog, they brought out a device, I just Apple Pay'd it. Yeah, you know, or I did a tap and pay.

Get with the times.

But the other restaurant, Seasons 52, they're missing out on the young people. I was talking to somebody else. They were like, yeah, I don't even carry— somebody else at the table, they were like, yeah, dude, I don't even carry like my— I don't even carry a wallet. He's like, yeah, I have Apple Pay on my wallet with like—

I definitely know some younger people that like 3 different credit cards. They laugh at me like, like, bro, you carry a wallet?

Yeah, like that. The guy was showing me he had 3 credit cards in his Apple Pay. And then there's a program— I know Florida has it And it's like $3, I think. Now it's $3 a year. You can download this app onto your phone and then your driver's license is—

oh yeah, yeah, yeah.

So now he's like, yeah, he goes, I have my driver's license.

He puts your driver's license and your insurance and your registration right in the app.

Yeah. And then so it's in an app.

I was actually thinking about doing that. Yeah, I don't get pulled over enough to care.

No, but I think it's really good. Forget the wallet, just forget it. But then we were talking about Apple Pay and I was telling them, I go, yeah, my business card, you know, like I have the Apple Pay set up for my business, but the, but the, uh, business, the, my business card is from Chase. They don't participate in Apple Pay because Apple Pay and Google Pay charge the credit card issuer 10 basis points. So they don't want to pay, so they're not in there. And that's why I was telling you, I think that there's going to be more companies come into the, come into the, uh, come, come into the, um, market here in the US. But I don't know how they're going to play because is Google— I mean, obviously on the PC you can do a lot of diff— you know, you could have a wallet on your PC. Google can't stop that. Microsoft can't stop it, right? They're not going to be able to stop those kind of things because you could download something off of the— right? And then you'd have this wallet on your computer.

But I don't know if that's the same the, the— in the same sense of what you're saying.

No, no, I'm a crypto wallet. No, no, one reason I know, but I'm saying like a wallet to have all your credit cards in. But like Apple's very restrictive, and now they're in a lawsuit because they won't let other people put wallets into the iPhone, right? So they're in a huge lawsuit, and I think Google is also in a lawsuit over the same thing about letting other wallets come onto the phones. Because you see, with Android you could do like a— someone can send the file there and then you could download it and it's kind of like a jailbreak.

Yeah, you could jail— you can put Apple Pay on an Android phone.

No, no, but I'm saying it's— yeah, but it's kind of a jailbreak situation, whatever they call it.

That's the beauty of Android, right? Like you can actually, you know, get in there.

Well, no, you could send the code, you could, you can make your phone super No, but you can all— but someone can also send you an app that's not approved by Google, right? And then you could download it onto your phone. There's nothing they can really do about it. But you know, does it— but then their safety issue comes in. It's like, okay, is that trusted?

No, for sure. I mean, I don't— I don't typically do stuff like that.

Like, no, but could someone send you a nefarious— for sure.

I don't see why not.

Yeah, so people don't do that. But you know, now we got to see like what's going to happen. But it was very interesting. So they were showing, and then I talked to another company who I have a meeting with on Monday, and basically what they've done is they aggregated a ton of these wallets, right? So some of them like that PayPal, Venmo, Alipay, a bunch of wallets from Asia and Europe, all, all basically, um, on this app. And then you can install that on your website. When somebody's checking out, if they have one of those forms of payment, they can pay with it on their phone, on their phone, on a website. Yeah, and I think that we're going to see that. I think it's going to take a few years.

So wait a minute, it automatically detects that you have this payment?

Yeah, if the merchant puts signs up, like let's say you have Justin's, uh, Cowboy Store and you're selling cowboy boots and stuff. And you have— or it's Justin's T-Shirt Emporium, and Justin has all these t-shirts that he made with, with, um, with, with graffiti. That was funny, man.

Hey, I'm about to go buy— I'm buying a cowboy hat as soon as I get back to my office from Amazon, and I'm wearing cowboy hats on the podcast.

We should do that. We should wear some different hats. Okay, so yeehaw! Okay, so no, Justin's selling like his famous Justin's Emporium t-shirt with, you know, graffiti on it or whatever he's doing. And then he could have this app on his website as a checkout button, right? So you could check out now, credit card, right? You could have PayPal, you could put crypto, right? We could do all that. You can do all that stuff now. We can hook you up with crypto. You could have PayPal or credit card. I think when people see credit card PayPal. And then, you know, I think people— more people choose credit card over PayPal because I have been—

I mean, like I said, I'm— because you get more guard— or like, I have like one of those relationships with PayPal. No, when I first started PayPal with— in, you know, building websites, PayPal was the greatest thing on earth. You got paid, boom, right out, you know what I mean? Fast. Yeah, they took their piece, but at least you got your money right now. It's just like once you get into it, you know, like that's one thing when you're getting, you know, you're building websites, but what, $500? But what I was saying, you get $5,000 and then they take their piece, that kind of hurts.

Yeah, but what I'm trying to say is like with credit cards, the people who pay with credit cards are doing it because they're getting cash back, right? So you're getting a better customer. You know, that way. So, but now you can install this third thing and then it can hook you up into all these wallets, right?

So you could check out and it does what?

And then it would bring up like all the wallets that you want to offer and then you just select. Yeah, the person—

no, I'm talking about this as a— I'm the consumer, right? So you would check out which one you want.

You want Venmo, you hit the Venmo button.

No way.

Yeah, you want Alipay, you hit Alipay.

Cash App, Cash App.

Yeah, well, well, different ones. So that the— so yeah, so I saw one company, we have a meeting with them, they have like 50—

do they have a PayPal?

Do they have a WordPress plugin? We're gonna find out Monday.

We are gonna find out.

And they have like 50 different wallets in there. I thought it was great, man.

This is really smart.

Awesome. You know, this is awesome. You know, we're gonna figure out how we can, you know, make money with that and everything and give it to merchants because And especially if you want to do international payments, you could just say, oh, you want to pay international, click here, boom, you're done. You don't have to worry about, oh, I need an international merchant account, I need this, I gotta do currency conversion. No, this, this, this is like one of the most awesome fintech things that I've seen in a while. We're gonna get— we're gonna have a talk with them, then we're gonna get a demo, and we're gonna see how we can add that into the bag of tricks, you know. Cool. Because that's what's going on. This, this, like we always say, every podcast I say the same thing: fintech innovation is outpacing government regulation, and there's nothing they can do to stop it as long as these companies are all properly registered with FinCEN. They're doing their KYC, know your customer, KYB, know your business, anti-money laundering.

I can't believe that that the government— whoever was a part of the government came out like, yeah, man, you guys just need to slow down, right? What? Like, bro, that's like telling you—

well, no, but that was the—

stop growing.

But that was funny, it came from the Department of Innovation.

Exactly. The Department of Innovation says that us creators, you know, need to slow creators, just in general, innovators, period, right? You guys need to slow down, sir.

Innovation.

Pump the brakes, ride slow, we'll catch up to you about 15 years. No thanks, man.

Yeah, the government— the problem with the government is they don't understand how payments work. They don't understand how money moves. They don't understand anything. Why? Because most of these people in the government, they never had a job. Very few of them never ran a business. I mean, listen, there's this one lady, she's from Colorado, Lauren Boebert.

Is that the lady that had a bus that said guns?

No, no, she carries a gun.

No, I'm serious. Her on the side of the bus that said guns, Jesus, and something else.

Yeah, well, no, she like carried a gun because she lives in like Colorado somewhere.

Yeah, man.

No, she's from Colorado, so she's got— she has a gun. Like, she had pictures of her with a gun, right? But she owns a restaurant and a bar, right? So this is the kind of person that can relate to business people. You know, well, she owns—

yeah, that's cool. I get it. No, no, but I'm just saying, like, just because she owns a bar and restaurant doesn't mean she knows what she's talking.

No, no, but I'm saying, like, that's a person. Well, she's owned it for quite a few years. What I'm trying to say is we need more people that own businesses. I get involved in, in the Congress and stuff because they don't understand.

You have some guy, whatever, the person who's maybe like you running the Department of Defense.

I mean, we have a person in the White House House right now, two people, okay? Neither one of these people has ever had any kind of job where they were running a business.

Nancy Pelosi's never had a job where she's running a business, and her position is what again?

She's the Speaker of the House. You have Maxine Waters, who's old, and she's in the— she's running the Financial Committee. She's never owned a business. Dick Durbin, no business. These people don't have any business.

Does not own a business? No.

That these people don't have any business experience. And then they're over there complaining about what businesses are doing. Oh, what fintech is doing, what this is doing, what that's doing. Put the guy— I would rather see like Mark Cuban, Mr. Wonderful, Daymond John, you know, take the two ladies who have been on Shark Tank, Lori and the other lady, right? Put them all in Congress, man. They'll turn Congress like upside down. That this other business lady from Georgia in there, right? She owned a big business up in Georgia. She got appointed when somebody died. And then they didn't like that lady, right? Because she knows about business. She's a big businesswoman, right? Right. And they chase these people out of there. No, you got to have people that know about business. This isn't like, go get like some guy who's farming, right? Get a farmer. Say, okay, you got to have Iowa. You got to put a guy.

And if they're too young, get Warren Buffett. He knows what to do. Yeah, he's an old white guy. He'd fit in perfectly in the—

no, but I'm just saying, like, they need to put people who are business people in the— into these people. More business people need to get, get involved. I agree. And, and in here so that you could have business sense. I mean, listen, not everybody like Donald Trump, but he's a business guy and know how to negotiate and knew about business. He probably could have talked a little nicer and, and all of that. Maybe people would have liked his personality a little bit better, you know. But you have somebody like Ron DeSantis. He was also involved in business. He was in the military. He has like a background, a business background, a military background. You need people like that, like, in the government to help like move these things along. Like, you can't have— like, I'll give you a great example. The Electronic Transaction Association, which is the credit card processing— one of the associations, right? So they recently formed— like, they had before some kind of like blockchain committee, right? They had a bunch of people on there didn't know anything about blockchain. Now they got some— a couple of people that own these blockchain companies to get on, join the ETA and get on their committee. It's important that you have people that have background in these things.

I mean, yeah, man, come on. It's like me, I want to be a public school teacher, bro. It's not the smartest idea. I might be telling your kids now, you know, the greatest things. Just saying, that's good advice, but it might not fit.

And then another thing like was discussed at the convention, right? So one of the things discussed at the convention was there was some guys there from a minority bank, and there were some other people from a community bank. And they were discussing like, oh, what their customers don't get the credit card processing accounts through their partners because the partner is given the solution is, oh, you got to call some guy on the phone. Then they talk to you, then they send you a contract, you got to fill out all this paperwork. And instead, the person, these young people, right, get, you know, they just like, whatever, they just go to PayPal, Stripe, and Square. They don't have a way to capture that. And that's what we're doing with our new product. We're going to be talking to community banks so we can show them like, hey, you can offer pretty much the same sign-up experience because that's what we keep talking about, right? Experience, the experience. Create that sign-up experience for the community bank or for chambers of commerce and different trade organizations so people can just go sign up for a merchant account. You know, like I was talking to somebody else and they're worried all about, oh, I want to save money. Then we were doing like $10,000 a month ago. Even if I saved you 10 or 20 basis points, that's like $2, you know. You, you're only going to save $2. That's not worth it to save $2. Like, you can't do that. You gotta, you gotta think, you know. You need to provide— you need to look at the software you're using, and it's got to be— forget rates from, from now on. Like, I tell everybody, forget the rates. Look at the software. Look at the the customer experience you can create for your customer, even if you're paying just a little bit more, that's going to help you serve your customer better, get you better information on your customers, give you ability to do marketing, right? You're going to make more money by doing all that. Your customer is going to be happier because you're able to deliver to them the experience. Deliver the experience to your customers. And that comes from everywhere in all types of different businesses. You want someone to pay your bill, you want them— you're going to have them call you on the phone and wait on hold for 10 minutes? Why not put up a payment portal? Forget all these old ways, go to the new ways. So that's today's FinTech Friday.

Dark side, my brother.

That's FinTech Friday for today. Enjoy the show. Watch out for next week for new episodes from B2B Vault, Allen and Justin. We're out. Peace out. Carpe diem. Seize the day. TGIF and all that good stuff. Thank you. I saw there was a few live listeners. If you're listening to the replay, leave a comment and we'll write you back.

Thank you.