Podcasts about Merchant services

Paying for goods and services in today's modern world is as easy as swiping your credit card, tapping your phone, or even waving your smart watch. It looks so simple! But, the merchant services infrastructure and technology that enable electronic payments require substantial setup, careful attention, and ongoing coordination. Keeping your customers' experience both convenient and secure can be a daunting task for small business owners without the right merchant services provider by their side.  In this episode, we're talking to Regional Sales Manager Cris Agenter from Worldpay, a global payments leader trusted by more than one million merchants and counting. Together, we'll explore questions like: What are merchant services and what do they entail? Why are merchant services important for small businesses? What is the process for setting up a merchant services account? What factors should business owners consider when selecting a merchant services provider? What does it cost to maintain a merchant services account? Are you ready to take control of your future and start building your legacy? Visit⁠ getprovide.com⁠. Provide is a division of Fifth Third Bank, National Association. All opinions expressed by the participant are solely their current opinions and do not reflect the opinions of Provide, its affiliates, or Fifth Third Bank. The participant's opinions are based on information they consider reliable, but neither Provide, its affiliates nor Fifth Third Bank warrant its completeness or accuracy and should not be relied upon as such. This content is for informational purposes and does not constitute the rendering of legal, accounting, tax, or investment advice, or other professional services by Provide or any of its affiliates. Please consult with appropriate professionals related to your individual circumstances. All lending is subject to review and approval.

Ever feel like big payment processors charge you an arm and a leg—and treat you like another account number? For small business owners in New Jersey, Seaview Merchant Services (732-806-1888) is changing the game with integrated payment solutions and service that puts you first. https://seaviewmerchantservices.com/services Seaview Merchant Services City: Neptune Address: 50 Neptune Blvd Website: https://seaviewmerchantservices.com Phone: +1 732 806 1888 Email: vin@seaviewmerchantservices.com

There are times as a QuickBooks ProAdvisor that you might want to entertain other options, either temporary or permanently.Lynda Artesani and Sarah Prevost join the panel to discuss the differences between QBO and Xero for those that might be looking to add Xero to their suite of supported offerings.Learn about Xero: https://xero5440.partnerlinks.io/80w3795vt0k0-nx0cimCPE offered through Earmark. There is no Live CPE for this Webinar, however you can check out the Prior CPE eligible sessions here: https://bit.ly/QBPHCPE QB Power Hour is a free, biweekly webinar series for accountants, ProAdvisors, CPAs, bookkeepers and QuickBooks consultants presented by Matthew "Spot" Fulton and Dan DeLong who are very passionate about the industry, QuickBooks and apps that integrate with QuickBooks.Watch or listen to all of the QB Power Hours at https://www.qbpowerhour.com/blog  Register for upcoming webinars at https://www.qbpowerhour.com/00:00 Introduction to Earmark App and Course Enrollment01:07 Welcome to QB Power Hour Webinar Series01:42 Today's Topic: Is the Grass Greener at Xero?02:31 Meet the Guest Speakers: Sarah Prevost and   Artesani04:47 Discussion on QuickBooks and Xero15:05 Intuit's Changes and Their Impact25:28 Exploring Xero's Features and Support36:02 Xero's Bank Feed and Reconciliation38:02 Discussing Xero Payroll Capabilities38:46 Reconciliation Process in Xero41:04 Exploring Xero's User Interface41:54 Bulk Work and Cash Coding in Xero43:14 Mobile App Enhancements43:34 Customizing Chart of Accounts45:08 Financial Statements and Reporting47:41 Time Tracking and Project Management51:03 Find and Recode Tool53:02 Xero Pricing and User Management55:31 Xero App Store and Integrations57:06 Certification and Training for Xero58:59 Comparing Xero and QuickBooks01:01:37 Merchant Services and Inventory Management01:03:43 Final Thoughts and Closing Remarks

Are credit card processing fees eating into your profits? Seaview Merchant Services (732-806-1888) offers dual pricing options that let New Jersey business owners legally pass these costs to card-paying customers—while staying competitive in today's cashless economy. Visit https://seaviewmerchantservices.com Seaview Merchant Services City: Neptune Address: 50 Neptune Blvd Website: https://seaviewmerchantservices.com Phone: +1 732 806 1888 Email: vin@seaviewmerchantservices.com

Veronica Wasek joins Alicia for "wheel of rants" to dive into QuickBooks Online's chart of accounts transformation. They explore how Intuit's changes to expand the chart have created both opportunities and challenges for accountants and small business owners alike. The hosts discuss common account types including opening balance equity, undeposited funds, and reconciliation discrepancies, while offering insights on modernizing traditional categories to better reflect today's digital business environment..SponsorsRightworks Rightnow 2025 - https://uqb.promo/rightnow2025 (use code UQB15 for 15% OFF)(00:00) - Welcome to the Show (00:35) - QuickBooks Online's Chart of Accounts Evolution (02:18) - Reactions to the New Chart of Accounts (04:01) - Renaming Classic Categories (07:33) - GAAP and Custom Chart of Accounts (12:14) - Detail Types and Tax Preparation (17:33) - Managing Opening Balance Equity (21:51) - Undeposited Funds Workflow (25:20) - Reconciliation Discrepancy (27:47) - QuickBooks Online Adjustments (30:32) - The Importance of Numbering Systems (33:59) - Reclassify Tool and Modern Categories (37:21) - Meals and Entertainment Changes (38:52) - Merchant Services and Modern Expenses (43:47) - Final Thoughts and Upcoming Classes Send your Questions/Comments (we could read/answer them on air) unofficialquickbookspodcast@gmail.comAlicia's classes:Chart of Accounts in QBO: http://royl.ws/QBOCOAReconciling in QBO, Including troubleshooting: http://royl.ws/Reconciling-In-QBOCredit Cards in QBO, April 1, 2025: http://royl.ws/QBO-credit-cardsVeronica's class:QBO Paid Diagnostic Review System: http://bit.ly/5mb_diagnostic

Empowering Small Town Businesses: An Interview with Amber and Luke Edmonds of Real Merchant Services In this episode of Small Town Big Business, co-hosts Deb Barnett and Russ Williams introduce listeners to Amber and Luke Edmonds of Real Merchant Services. Amber and Luke share their journey from meeting in college to building a successful business focused on providing honest and transparent merchant services to small businesses in Southern Illinois. The conversation delves into their personal stories, the genesis of their company, and the importance of networking, support systems, and consistent efforts in growing their venture. The Edmonds also discuss the core values of Real Merchant Services, emphasizing the elimination of hidden fees, the flexibility of contracts, and the accessibility of their support system. The couple's focus on community involvement, support for each other, and genuine connections highlights their commitment to uplifting the local business ecosystem while ensuring a better future for their family and broader community. 00:00 Welcome to Small Town Big Business 00:56 Meet Luke and Amber Edmonds 01:12 The Origin Story 03:02 Challenges and Early Entrepreneurship 05:41 Networking and Building Connections 10:48 Amber's Journey to Confidence 15:37 Understanding Real Merchant Services 17:29 Merchant Services: The Hidden Costs 19:32 Real Merchant's Unique Approach 21:03 Addressing Startup Concerns 22:51 Tailored Solutions for Businesses 23:52 Support and Accessibility 26:23 Marketing Strategies and Social Media 29:01 The Story Behind the Rhinoceros Logo 30:33 Personal Motivations and Goals 35:06 Final Thoughts and Advice   Recorded at EThOs Small Business Incubator and Co-working Spaces in Marion, Illinois. https://members.ethosmarion.org/  SUBSCRIBE TO THE PODCAST  

The second of a series of episodes that we recorded at Pay360 London 2025. We produced this episode in partnership with BPC, a payments processor that builds digital ecosystems that enable seamless payment experiences. Our guests were: 1/ Adam Moulson, Chief Commercial Officer, Griffin Bank 2/ Melanie Ockerse, VP Account Management EMEA, Entersekt 3/ Peter Harmston, Partner, Head of Payments Consulting, KPMG 4/ Ian Povey, CIO Payments Technology, NatWest 5/ Melinda Roylett, Managing Director, Merchant Services, Lloyds Banking Group 6/ David Abbott, VP Card Payments & strategic Accounts, Tuum

In this episode of The Level Up Podcast w/ Paul Alex, Paul is joined by Rob Sinn and John Sarabia, two nine-figure entrepreneurs and co-founders of Merchant Automation. They dive deep into the power of residual income in the merchant services industry, sharing how they built their multi-million-dollar business and changed lives along the way. Learn about the mindset, strategies, and mentorship that helped them succeed, and how you too can create passive income, even with no sales background. If you're looking to break free from the 9-to-5 grind, this episode is a must-listen!Check Out PayBotX: https://www.paybotx.com/“Your Network is your NETWORTH!”Make sure to add me on all SOCIAL MEDIA PLATFORMS:Instagram: https://jo.my/paulalex2024Facebook: https://jo.my/fbpaulalex2024Youtube: https://jo.my/ytpaulalex2024Linkedin: https://jo.my/inpaulalex2024Looking for a secondary source of income or want to become an entrepreneur?Check out one of my companies below to see if we can help you:www.ATMTogether.comwww.Merchantautomation.comFREE Copy of my book “Blue to Digital Gold - The New American Dream”www.officialPaulAlex.com

MidFirst Bank

"I can find out what their pain points are and go find the right solution." -Ryan Selenke Accessibility to fast, accurate and safe payments has opened up opportunities for entrepreneuurs all over the worlrd. When you have the ability to exchange freely on the opend market, your business can scale and rapidly increase it's customers. Ryan Selenke founded Reliant Merchant Services because he understood that.  Finding solutions for his customers is his unique ability.  He admits, "no one is goindg into a coffee shop to buy because of a payment system." Customers do choose where to send their money based on the experience they have and Ryan wants to help improve the customer experience. Most importantly, Ryan impacts lives through he and his wife's dedication to Fostering children.  It is at the foundation of who he is, what he does and why he does it.  I am grateful to share his entrepreneurial journey.   

RV Parks!   Meet Ashley Perez, an unstoppable force in the world of entrepreneurship and real estate. Born in Hollywood, FL, and an alumna of Nova Southeastern University, Ashley's journey is nothing short ofinspiring. After moving to New Jersey, she spent ten years mastering the art of sales, going business-to-business selling Merchant Services. In 2014, Ashley took a bold leap and launched her first business in Merchant Processing Restaurant Point of Sale. Her entrepreneurial spirit didn't stop there. By 2018, she had started a second successful venture in Residential Solar, partnering with family and friends. Ashley's dynamic career took an exciting turn in 2022 when she ventured into real estate. Her recent acquisition of an RV Park in Inverness, FL, is just one highlight of a rapidly growing $2.5 million real estate portfolio. Always looking forward, she's now launching an acquisitions department and building a personal brand dedicated to guiding others into the RV Park Commercial investment. With a decade of experience as a business owner and a knack for bootstrapping successful enterprises, Ashley's businesses continue to thrive. As a devoted mom of two boys living in Naples, FL, she balances family and business with grace and determination. Don't miss the chance to follow Ashley Perez's remarkable journey and gain insights from her expertise at @ashleyperezinvests.com or get started early with her FREE RV Park Masterclass. (ashleyperezinvests.com/masterclass). Get ready to be inspired by a true powerhouse in business and real estate! LINKS Instagram https://www.instagram.com/ashleyperezinvests/ Facebook https://www.facebook.com/ASHLEYPEREZINVESTS/ Youtube https://www.youtube.com/@ashleyperezinvests LinkedIn https://www.linkedin.com/authwall?trk=bf&trkInfo=AQG2Lk1rUxMwdQAAAZDGr5h4aoDpraW8CpkuemE4 kulDOgJv4RkrMbFQtXJMDBFcWZPo3vk8- bboJRLM1PumcvTDFu6GJZSrj6G73xMK3BmLCk4hlRbfMmUvLJvuAnGvnxAn7B0=&original_referer=&s essionRedirect=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fashleyperezinvests%3Futm_source%3D share%26utm_campaign%3Dshare_via%26utm_content%3Dprofile%26utm_medium%3Dios_app Website: ashleyperezinvests.com/masterclass   To learn more about Jen Josey, visit www.TheRealJenJosey.com To join REIGN, visit www.REIGNmastermind.com Stuff Jen Josey Loves: https://www.reignmastermind.com/resources Buy Jen Josey's Book: From Beginner to Badass: https://a.co/d/bstKlby

Join Adam Keifer, VP of Sales for Fiserv, as we discuss the opportunity that Merchant Services may provide for financial institutions for non-interest income with the right commercial customer base.  We discuss the industry and what it might mean for your relationships with your commercial customers.Send us a Text Message.Presented by Remedy Consulting Technology Contract Negotiation & System Assessments, T&C Improvements, and FI Strategic Planning.For more information on BankTalk:BankTalk WebsiteSubscribe to BankTalk NewsRemedy Consulting WebsiteRemedy LinkedInTo speak on the BankTalk Podcast, please email us.

Terrina Taylor Shares Insider Secrets to Merchant Services and Payment ProcessingIn this episode, Dr. Tami Patzer talks with Terrina Taylor, an expert in merchant services specializing in merchant accounts and credit card processing equipment. With her extensive knowledge and experience, Terrina offers businesses a superior alternative to generic one-size-fits-all payment processors like PayPal, Stripe, and Square.Terrina's company provides a holistic, transparent, and growth-oriented approach to Payment Processing, focusing on building long-term partnerships with clients. Today, she'll be sharing her insights on payment processing systems, the importance of PCI-DSS compliance, and more, explaining what it all means for businesses looking to accept payments efficiently and securely.Terrina has a unique perspective, having grown up working in her family's salon business. When the pandemic hit, she had to navigate the shift to more contactless payment options, which led her down the path of researching merchant services in-depth. Terrina now partners with over 15 different payment providers, offering customized solutions for businesses of all sizes and risk levels.If you're a business owner frustrated with the limitations and hidden fees of generic payment processors, this episode is a must-listen. Terrina will explain the key differences between a true merchant account and the sub-merchant status offered by companies like PayPal and Stripe. She'll also dive into the importance of PCI-DSS compliance and how it helps protect businesses from fraud and chargebacks.Additionally, Terrina shares insights on working with high-risk businesses, the components of a payment processing system, and how businesses can potentially save thousands in fees by partnering with her team. She also provides valuable tips on customer service and how to get the fastest access to your funds.Listeners will walk away with a deeper understanding of the merchant services industry and actionable strategies to improve their payment processing setup. Whether you're a brick-and-mortar business, an online store, or operating in a high-risk industry, Terrina's expertise can help you find the right solution to get paid efficiently and securely.To connect with Terrina and learn more, visit her website at TerrinaTaylor.com, where you can download a free ebook with 51 common questions about merchant services.You can also find her on social media, including Instagram, Facebook, and LinkedIn.Schedule a free consultation with Terrina to assess your current merchant account and explore how her team can save you money and provide a superior customer experience.Source: https://businessinnovatorsradio.com/terrina-taylor-empowering-businesses-with-customized-merchant-accounts

In this episode of Building Great Sales Teams, host Doug welcomes Mark Forster, CEO of Deposyt, a company specializing in merchant services. They discuss the differences between various merchant processing solutions, focusing on the stability and security Deposyt provides compared to other providers like Stripe. Mark shares insights on targeting high-risk verticals, using referral partnerships, and the importance of software such as CRM in business. The conversation also covers Mark's approach to scaling, adapting to industry changes, and his broader vision for legacy and personal development.Chapters00:00 Introduction and Welcome00:39 Guest Introduction: Mark Foster01:04 Understanding Merchant Services02:10 Challenges with Stripe10:20 Referral Partner Model20:11 Future Plans and Software Integration26:55 Personal Insights and Mastermind Experience29:02 Conclusion and Contact Information You can connect with Mark Forster on:Instagram: https://www.instagram.com/themarkforster/Facebook: https://www.facebook.com/profile.php?id=715603941Website: deposyt.com/markforster Thank you for supporting Building Great Sales Teams! If you want to learn more about our host Doug Mitchell or get free BGST resources go to www.salesprogrambuilder.comAnd don't forget to visit us on Apple Podcasts to leave a review and let us know what you think! Your feedback keeps us going. Thanks for helping us spread the word!

Welcome to the Hey Docs! Podcast with your host Jill Allen.  Today, we have a special guest: Matt Rej, one of the founders of Merchant Cost Consulting, a company that specializes in helping businesses, including orthodontic practices, save on credit card processing fees. We'll dive into what led him to start Merchant Cost Consulting, how his company can assist with fee negotiations and practical tips for managing these costs.  Let's get into it! Summary Matt Rej, founder of Merchant Cost Consulting, discusses the complexities of credit card processing fees and how his company helps businesses, including orthodontic practices, reduce costs. He shares his journey into the industry and the motivation behind starting his own consulting firm. Matt explains the importance of integrated credit card processing systems and the potential cost savings for practices. He also highlights common hidden fees and provides tips for negotiating better rates with processing companies. In this conversation, Matt Rej provides valuable insights into credit card processing fees for healthcare practices. He explains the difference between flat rate pricing and interchange plus pricing, emphasizing that startups should ask for interchange plus pricing. He also highlights the benefits of accepting ACH payments and encourages practices to leverage this option to save money. Matt discusses how his company, Merchant Cost Consulting, helps practices reduce fees and provides ongoing auditing to ensure the best pricing is maintained. He offers three pieces of advice: get multiple quotes, scrutinize statements regularly, and compare fees over time. Matt's top business skill recommendation is effective communication. https://merchantcostconsulting.com/https://www.facebook.com/sharer.php?u=https%3A%2F%2Fmerchantcostconsulting.com&t=Merchant%20Cost%20Consulting https://twitter.com/professionaltshttp://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fmerchantcostconsulting.com&title=Merchant%20Cost%20Consultinghttps://www.instagram.com/MCCSavings/ Takeaways Credit card processing fees can be complex and deceptive, with rates and fees constantly increasing.Integrated credit card processing systems offer convenience but can come with higher costs.Common hidden fees include PCI compliance fees and auto-enrollment monthly fees.Interchange rates are non-negotiable, but processing companies can add markup fees.Startups should be cautious of tiered pricing structures and consider flat rate pricing.Negotiating rates with processing companies is possible, even for startups. Startups should ask for interchange plus pricing for credit card processing fees.Accepting ACH payments can save healthcare practices a significant amount of money.Regularly scrutinize credit card processing statements and compare fees over time.Effective communication is a crucial business skill for healthcare professionals.Connect With Our Advertisers Kaleidoscope - Orthodontic Digital MarketingGC Orthodontics - Manufacturing and Supply SalesSmileSuite - Customizable Presentation Software and Post-Consultation Follow-Up Chapters 00:00 Introduction and Background03:06 How Merchant Cost Consulting Helps Practices06:32 Integrated vs. Non-Integrated Credit Card Processing09:27 The Truth Behind PCI Compliance Fees12:45 Unpacking Interchange Rates and Markup Fees16:13 Challenges for Startups and Negotiating Rates26:28 The Benefits of ACH Payments31:30 Reducing Fees with Merchant Cost Consulting34:57 Auditing Credit Card Processing Statements41:58 Effective Communication as a Business Skill Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- www.practiceresults.com.     If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.    New episodes drop every Thursday!    Episode Credits:  Hosted by Jill AllenProduced by Jordann KillionAudio Engineering by Johnny Mitchell

Recasting Merchant Services with Embedded Payments by Merchant Sales Podcast

Hey there, Carlsbad community and beyond! Are you ready to dive into the stories of local leaders and game-changers? This is your host, Bret Schanzenbach, and you're tuning into episode 111 of "Carlsbad: People, Purpose and Impact." Today, we're unpacking the journey of a true entrepreneurial force, Ken Aurigemma, founder and owner of Strategic Business Alliance.Ever wonder what fuels the fire of a successful entrepreneur? Or how someone transitions from serving as a Coast Guard aviation navigator to becoming the CFO of a skyrocketing company like No Fear? Well, buckle up because Ken is here to share his incredible voyage from the East Coast to the heart of Carlsbad, where his passion for helping small businesses shines bright.We're talking big leaps, the power of family legacy, and the seismic shifts in the world of accounting where AI and advisory roles are changing the game. Plus, Ken will spill the beans on how he helped a solar company soar from $1.6 million to a jaw-dropping $188 million in sales! If you're curious about the future of small businesses, the impact of technology on traditional roles, or just love a good success story, this episode is for you. Don't forget, you can reach out to Ken for a strategic alliance that could revolutionize your business. Just visit strategic-ba.com or dial 760-573-1038 to start your journey.So, are you ready to be inspired and informed? Tune in now to "Carlsbad: People, Purpose and Impact" where local stories meet global insights. Ken's Bio:Ken Aurigemma is the founder and owner of Strategic Business Alliance, LLC, which serves small business owners in Southern California and across the U.S. Services include outsourced/interim controller/CFO services, Accounting services, (including bookkeeping and payroll), and consulting services for QuickBooks® and Xero.Ken understands the many demands that business owners face each and every day. He leverages his years of knowledge and CFO-level experience to provide these business owners with the necessary tools for managing and growing their companies, while also working closely with them to find solutions that save time and money on their accounting and operational needs.As a Certified QuickBooks Pro Advisor and Xero Certified Advisor, Ken provides setup, training, troubleshooting, and support services for QuickBooks and Xero. He has technical expertise and experience in the entire line of Intuit products including QuickBooks® Online, QuickBooks® Enterprise Solutions, QuickBooks® Point of Sale, Merchant Services, Payroll, and many more.Ken offers accounting solutions tailored to meet the unique needs of each client. He listens carefully to his client's needs and designs customized solutions while guiding his clients through the financial systems and management processes with patience and encouragement.Ken has over 35 years of professional accounting, auditing, and management experience. He graduated from Pennsylvania State University with his B.S. in Accounting after spending 4 years with the Coast Guard. Following graduation, Ken was employed by the military retailer Navy Exchange Service Command, where he held several positions: Internal Auditor from 1987 to 1990; Senior Accountant from 1990 to 1993; and Accounting Manager from 1993 to 2000. He later became a Controller for LEGO Brand Retail, Inc., the retail division of the LEGO Group, from 2000 to 2004. From 2004 to 2012, Ken served as Chief Financial Officer of No Fear, Inc. and its subsidiaries FMF, No Fear Retail and No Fear Racing. After leaving No Fear, Ken became the Director of Finance at Novasyte, LLC before he decided to part ways and create Strategic Business Alliance in 2014.When Ken is not working, he enjoys cycling, working out at the gym, walking on the beach, reading, travelling and supporting his wife, Christy, when she competes in Ironman triathlon events. He also enjoys sampling the local craft beers and travelling to Napa Valley and Paso Robles for wine tastings. He values his family time and looks forward to spending time with Christy and their dog, Holly, as well as their two older daughters, Nicole and Kirsten. Ken is an avid sports fan, favoring the Padres baseball team as well as the Penn State Nittany Lions football team. Each year, Ken returns to his alma mater to attend the Penn State Dance Marathon (THON), massive student-run philanthropy that raises funds and awareness for pediatric cancer, in support of his sister and her family.All the links you need:Ken's website: Strategic Business Alliance LLCFacebookLinkedIn Did this episode have a special impact on you? Share how it impacted youCarlsbad Podcast Social Links:LinkedInInstagramFacebookXYouTubeSponsor: This show is sponsored and produced by DifMix Productions. To learn more about starting your own podcast, visit www.DifMix.com/podcasting

Ray Schwetz gets business empowerment from George Pinckney Jr., Senior Account Manager of Genesis Merchant Services, a private finance firm.  

Beyond Profit: Redefining Success in the Credit Card Industry This Business RadioX episode features an engaging conversation between Karen Nowicki and guests Paul Mulhern and Dave Graybill, who discuss their innovative approach to disrupting the credit card processing industry while giving back to communities. Initially skeptical, Dave’s experience during a charity motorcycle ride led him […]

Beyond Profit: Redefining Success in the Credit Card Industry This Business RadioX episode features an engaging conversation between Karen Nowicki and guests Paul Mulhern and Dave Graybill, who discuss their innovative approach to disrupting the credit card processing industry while giving back to communities. Initially skeptical, Dave’s experience during a charity motorcycle ride led him […] The post Beyond Profit: Redefining Success in the Credit Card Industry appeared first on Business RadioX ®.

Michael Dinsio and Alex Sadusky Decode Credit Card Processing. There are a lot of bad actors in this space. You may have to listen to this episode a couple of times to wrap your head around it. Or just call and talk with Alex. You can see he is passionate and wants to help doctors like you save money. Alex will tell you it doesn't have to be so complicated and we break it down for you on this episode. https://www.dentalcardservices.com/0:00 Intro0:43 Who Is Dental Card Services?8:27 What are Merchant Services?12:13 Types of Card Processing Agreements13:27 Surcharge Agreements18:29 Tiered Plan Agreements20:37 Flat Rate Agreements24:20 Interchange Cost Plus26:29 The Only Number That Matters31:41 Virtual Credit Cards

Our special guest is Eula Adams, former President of First Data Merchant Sevices.In this episode, part of our trailblazer series, Eula takes us on his career journey as he climbed to positions of influence within the ranks of two major companies; Deloitte and First Data Corporation. Capping off his decision ( no-holds-barred exposure) leading up to his resignation from First Data, as one of the company's six (6) appointed Senior Executive Vice Presidents. On this journey, Eula shares his insights into management and along the way a few actionable takeaways...Enjoy.

In episode 80 of The Payments Show Podcast, I spoke to Dustin Magaziner who is the Founder of PayBright. PayBright helps businesses to reduce processing costs by up to 30%, recommends the best payment systems for different types of business, and provides risk management advice to ensure your business runs 100% of the time. VIDEO and PDF Transcript: - click here https://thepaymentsshow.substack.com/p/80Summary of topics discussed:[02:15] - Founding Story: Poor Industry Practices[11:15] - PayBright's Main Services[13:02] - ROI and Lifetime Customer Value[17:52] - Introductory Rates: Bad for Both Parties[20:49] - Industry Consolidation: Pros & Cons[24:46] - Food, Beverage and Quick Service Restaurants[25:32] - Platform Risk: TOS, High-Risk Accounts, Getting Cancelled[26:41] - Types of "Risk"[28:07] - Risk Analysis & Management with PayBright[38:37] - Convenience vs Ability to Get a Merchant Account[40:09] - Micro-Merchants: Where Square Succeeded[43:22] - PayBright: a Trusted Partner, Not The "Best of the Worst in Payments"!And much more…Details:- Recorded on 28 Sep 2023- Host: Satwant Phull- Guest: Dustin Magaziner, Founder, PayBright[Next Steps]- Get in touch with Satwant: digitalmoneylab.com - PayBright: gopaybright.com

In this episode, Gary talks with Jaron Rice, founder and CEO of Magothy Payments. Jaron talks about how he got into the payments industry specifically focusing on home improvement and home services contractors. He then gets into “effective rates” and how to properly calculate them. Jaron discusses funding delays and the ways to avoid them. The conversation then moves to chargebacks, how long a contractor is liable, some things contractors can do to prevent a chargeback from happening in the first place, and what a contractor merchant can do to increase their likelihood of winning if they do happen. Finally, Jaron talks about the workarounds when a contractor merchant's CRM has their own processing or an exclusive partnership with a merchant services provider. This is a great episode for all contractors who accept credit cards.

In this episode, host Colin Mitchell interviews Andrea Morter, the VP of Sales, Ops and Enablement at Get Beyond. They discuss Andrea's journey in sales and leadership, as well as the challenges and rewards of transitioning into sales operations. Andrea shares insights on the importance of leadership and the need to focus on helping others succeed. She also highlights the role of sales enablement in supporting sales teams and driving success.Follow the Host: Colin Mitchell (Partner, Leadium)Our Episode Guest:Andrea Morter (VP of Sales, Ops and Enablement at Get Beyond)Sponsored By: Leadium | The leader in outbound sales appointment setting.*If you'd like to be a guest on the show or have any questions, email us at guest@salestransformation.co - Just tell us why you're reaching out and we'll contact you as soon as we can!

Here to help me kick off the second episode of our Women Leaders in Payments series is Chase Merchant Services Canada President Marilu Gaudio. Marilu grew up with first generation Italian immigrants, in a traditional Italian household focused on family and food. In fact, she credits her father for her amazing work ethic that has gotten her so far in her career. So, how did she wind up going into payments when one of her original career paths had her slated as a teacher? You'll have to tune in to find out!As I'm sure most of you know, Chase Merchant Services is a full acquirer, offering payment services and solutions for both small and large enterprise clients. Marilu's department works closely with the Canadian payment network, corporate and franchise organizations, as well as financial institutions, associations, and technology partners to both integrate and optimize the payments ecosystem.When it comes to her guiding principles, she cites integrity, honesty, and resiliency as her top three. We also talk about the importance of treating others the way you, yourself, would like to be treated and the need for active listening in management roles. She also strives to always show up as a student, not an expert, in both life and business.Tune in to hear Marilu talk about her journey to President, including why she grades the current state of our industry on a C+ to B- scale when it comes to female leadership and where we can do better. We also discuss some of her most eye-opening career moments that taught her the value that comes from not attempting to be the expert on absolutely everything.

If you've been wanting to accept crypto payments but don't know where to begin, My Crypto Merchant is ideal. You get access to a cutting-edge platform coupled with done-for-you marketing materials! Find out more at: https://mycryptomerchant.com/ My Crypto Merchant LLC 2355 State Street, Salem, OR 97301, United States Website https://mycryptomerchant.com Email prc.pressagency@gmail.com

There are three foundational pillars - tech capabilities - upon which ISOs and agents can build successful merchant services marketing plans. 1. A statement analysis tool that supports quick turnaround with 100% accuracy. 2. A tool for creating instant savings estimates without the need for uploading statements. 3. Customer proposal templates. ISO Amp, my company and the sponsor of this Merchant Sales Insight, has spent the last several years perfecting the application of technologies that support these three pillars. Plus, we can help ISOs and agents build custom marketing campaigns. Visit getisoamp.com to learn more.

If the Silicon Valley Bank failure showed us one thing it is the role of social media in triggering panics, explained Vlad Sadovskiy, CEO at Netevia Banking, in this far reaching conversation on the fallout around SVB's failure. Then James explains how to sell merchants who are locked into contracts, and Patti reports on Visa's continued commitment to crypto.

Consumers want to make payments quickly, easily and securely through their cell phones or computers.  Find out how emerging payment methods can help companies efficiently receive payments online by improving transparency and streamlining reconciliation, while simultaneously enhancing the consumer's checkout experience.   Host Alex Wong, Treasury Product Executive, Bank of America    Co-hosts Kevin Baker, Head of Merchant Services, EMEA, Global Transaction Services, Bank of America Tim Renew, Chief Revenue Officer, Banked   MAP 5492350 / 3-2-24

Ryan Upton, an expert in merchant service payments and the founder of No BS Payments, is here to simplify what many business owners believe to be a complex topic so they can learn more about merchant payment processing and services. Guest: Ryan Upton No BS Payments 210-550-4783

Travillian is excited to welcome industry-veteran Tom Bell, CEO of Maast, to discuss the payments ecosystem in a new episode of Travillian Next. Bell's accomplished career spans decades and includes influential roles like EVP, Corporate Strategy at First Data and CEO of Bank of America's Merchant Services division. Bell introduces Maast and how the Synovus Bank-backed “Money-as-a-Service” initiative marks a new, innovative player in embedded finance. We also get Bell's take on what an idea like Maast takes from a talent, skillset, and strategy perspective.

Show Summary In this episode, Tara shares a quick roadmap of processing a credit card and how the funds arrive at the merchant's bank. And also the most popular ways of processing and programs earning more popularity. Tara also discusses what makes an outstanding sales agent or trusted advisor in the credit card processing industry. They not only look at a statement and quote to reduce quotes, but agents also take time to understand the business, its pain points, and needs. There are also some misleading practices within the credit card processing industry which Tara explains how to avoid. Tara has solutions to help streamline business processes, a solution that instantly syncs credit card transactions with Quickbooks.   Website: https://cardconnect.com/ Email Address: tcannon@cardconnectpartners.com Corporate Partner: People Process – https://peopleprocesses.com/

It's Showtime ... time for Fintech Friday with Allen Kopelman and Justin Owings. Today we talk about understanding how much you are paying for your merchant services. Following a simple formula - if you take a listen you will find out a simple way to figure out your true percentage. We talk about financial services and transparency and how the Federal Government, Congress and various agencies are cracking down on companies. We also touch on the new taxes that are coming to your small business if you have been using P2P Payment Apps like cash app, Venmo, Zelle, etc.. Last year quite a few businesses got hit with tax bills, and even more, businesses are going to get hit this year. Listen in and learn about Business 101 - Financial Info - Simple formula to learn how much you pay. Have a great weekend! Thanks for joining us for fintech friday. Allen, Justin, & Rocky https://youtu.be/VfsqA0MSIM0 #b2bvault #LITrendingTopics #linkedin #merchantservices #paymentprocessing #B2B #acceptcrypto #businessowner #business #FinTech #PaymentProcessing #Entrepreneur #PaymentTechnology #merchantaccount #creditcardprocessing #onlinepayments #paymentgateway #ecommercesolutions #smallbusiness #smallbusinessowner #highriskmerchantaccount #highriskbusiness #cryptopayments #startup #sidehustle #financialservices

It's Showtime ... time for Fintech Friday with Allen Kopelman and Justin Owings. Today we talk about understanding how much you are paying for your merchant services. Following a simple formula - if you take a listen you will find out a simple way to figure out your true percentage. We talk about financial services and transparency and how the Federal Government, Congress and various agencies are cracking down on companies. We also touch on the new taxes that are coming to your small business if you have been using P2P Payment Apps like cash app, Venmo, Zelle, etc.. Last year quite a few businesses got hit with tax bills, and even more, businesses are going to get hit this year. Listen in and learn about Business 101 - Financial Info - Simple formula to learn how much you pay. Have a great weekend! Thanks for joining us for fintech friday. Allen, Justin, & Rocky https://youtu.be/VfsqA0MSIM0 #b2bvault #LITrendingTopics #linkedin #merchantservices #paymentprocessing #B2B #acceptcrypto #businessowner #business #FinTech #PaymentProcessing #Entrepreneur #PaymentTechnology #merchantaccount #creditcardprocessing #onlinepayments #paymentgateway #ecommercesolutions #smallbusiness #smallbusinessowner #highriskmerchantaccount #highriskbusiness #cryptopayments #startup #sidehustle #financialservices

About Will Black and Sharing The Credit: ★ Helping Your Business to Fund or Increase Your Funding to Your Favorite IRS-Recognized Charity (501c's) With NO Expense to You...While Additionally Saving Your Business Money ★ Helping Your Nonprofit to Increase Unrestricted Donations with NO Fundraising, Grant Writing, or Business Donors Writing a Check to You ★ √ US-Based Businesses who Accept Credit/Debit Cards. Would you like to support your favorite charity, with zero out-of-pocket or bottom-line expense, and save money in operating costs at the same time? √ US-Based IRS Approved Nonprofits who are in Good Standing. Would you like to receive automatic, passive, residual & sustainable unrestricted funding, with zero fundraising or grant writing, and no business donors ever writing you a check? With a focus to help your business reduce your operating costs by removing up to 95% of your monthly processing fees, and legally donating one of these mandatory fees directly to your chosen charity, using pre-tax dollars. We pair Nonprofits with Businesses so that your worthy cause receives unrestricted Forever Money on autopilot, into perpetuity. ★ NEXT STEP ★ If you'd like to chat, please contact me at (912) 544-1741, Will@SharingTheCredit.com, or schedule directly at https://saving.sharingthecredit.com/willblack Visit https://www.sharingthecredit.com ★ Redirect a Portion of the Fees You Presently Pay to a Bank ★ √ Easy to use and easy to decipher reporting tools and statements. √ Free monitoring & keeping rate creep down. √ Free Automatic auditing & managing of accounts for correct fees. √ Free Training. ★ Benefits Include ★ √ Businesses can save a substantial amount of money each year in fees & can support their favorite charity with pre-tax donations. √ Nonprofits can receive a substantial amount of unrestricted funding each year on autopilot. ★ What Makes Us Different ★ We are the ONLY Merchant Services Provider in the U.S. redirecting the Bank's Fee to Nonprofits AND saving Businesses money, at the same time... into perpetuity! ★ Specialties Include ★ 501c3, Business, Charity, Contribution, Donation, Funding, Merchant Services, Nonprofit, Payment Processing, Payment Solution, Philanthropy, Small Business, Start-Up As a business Sharing The Credit helps your business fund or increase your funding and support to your favorite IRS recognized charity (501c3's), with no expense to you. We take the portion of your credit and debit card merchant fees you were paying to the bank and give it to your charity of choice instead. This is possible because Meridian Merchant Services, who, acting as your credit and debit card services provider, doesn't keep your merchant fees since they are a registered non-profit themselves through Meridian Foundation (IRS #45-3321239). This means what used to go to the bank, now goes to your favorite registered charity. This means you receive the credit, satisfaction and goodwill for providing extra support to a cause you believe in, from which everyone benefits with no additional bottom line or out of pocket expense… As a charity Sharing The Credit means you get increased sustainable regular funding from businesses that support you, without the charity incurring any money raising or other costs… In other words, we show both businesses and non-profit groups how to support and raise funds for great causes that help make our world a better place. Talk with us about helping you to help everyone share the credit.

Giving Power Back to Small Business E129 Paul Mulhern joined the Tycoons to talk about how he is working to put power back into the hands of business owners. From the very beginning you can tell that Paul's buzzword is "free" and he strives to do everything he can for small business owners. His company, […] The post Giving Power Back to Small Business E129 appeared first on Business RadioX ®.

Giving Power Back to Small Business E129 Paul Mulhern joined the Tycoons to talk about how he is working to put power back into the hands of business owners. From the very beginning you can tell that Paul's buzzword is "free" and he strives to do everything he can for small business owners. His company, […]

Today's

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Network tokens can solve some major e-commerce pain points for merchants. In the Payments Insights podcast, two Merchant Services senior leaders discuss tokenization, implementation and the future of the industry.   Host Erica Denham, SVP, Strategy and Commercialization Executive, Bank of America   Guests Wally Mlynarski, SVP, Head of Merchant Services Product, Bank of America Simon Nurrish, SVP, Merchant Services Chief Operations Officer, Bank of America   MAP 5054232 / 10-26-23

This week we interview Mike Peters who stepped in as CEO at GetBeyond as Bob Carr shifted his full-time focus to his philanthropic pursuits. We discussed the structure and strategy of GetBeyond and how integrated payments will shape the future for feet on the street sales professionals. James follows up with his take on tech companies becoming ISOs. Patti's insider's report focuses on the Metaverse and what payments professionals should know about it.

Benjamin Shaffer joins Keith in this live episode discussing money, both real and fiat. Benjamin is Legal Counsel and Merchant Services with Goldback, and is a Constitutional Attorney. They discuss the alternative currency Goldback, its expanding use in several States, fiat paper notes based only on government promises, the history of fiat money and the Federal Reserve, and the long term real value of gold vs the US Dollar. For further info on the Goldback: Website: Goldback.com Email: info AT goldback.com The video version of this episode is available here: https://unsafespace.com/ep0841 About Rebel Civics Hosted by Keith Bessette, Rebel Civics covers the principles of society and government, the ideas upon which America was founded, the history of the development of these principles, and current events in relation to them. Rebel (n): A person who is disobedient to unjust authority and stands up for fundamental principles, despite conventions and the opinions of others. Thanks for Watching! The best way to follow Unsafe Space, no matter which platforms ban us, is to visit: https://unsafespace.com While we're still allowed on YouTube, please don't forget to verify that you're subscribed, and to like and share this episode. You can find us there at: https://unsafespace.com/channel For episode clips, visit: https://unsafespace.com/clips Other video platforms on which our content can be found include: LBRY: https://lbry.tv/@unsafe BitChute: https://www.bitchute.com/channel/unsafespace/ Also, come join our community of dangerous thinkers at the following social media sites...at least until we get banned: Censorship-averse platforms: Gab: @unsafe Minds: @unsafe Locals: unsafespace.locals.com Parler: @unsafespace Telegram Chat: https://t.me/joinchat/H4OUclXTz4xwF9EapZekPg Censorship-happy platforms: Twitter: @_unsafespace Facebook: https://www.facebook.com/unsafepage Instagram: @_unsafespace MeWe: https://mewe.com/p/unsafespace Support the content that you consume by visiting: https://unsafespace.com/donate Finally, don't forget to announce your status as a wrong-thinker with some Unsafe Space merch, available at: https://unsafespace.com/shop

Benjamin Shaffer joins Keith in this live episode discussing money, both real and fiat. Benjamin is Legal Counsel and Merchant Services with Goldback, and is a Constitutional Attorney. They discuss the alternative currency Goldback, its expanding use in several States, fiat paper notes based only on government promises, the history of fiat money and the Federal Reserve, and the long term real value of gold vs the US Dollar. For further info on the Goldback: Website: Goldback.com Email: info AT goldback.com The video version of this episode is available here: https://unsafespace.com/ep0841 About Rebel Civics Hosted by Keith Bessette, Rebel Civics covers the principles of society and government, the ideas upon which America was founded, the history of the development of these principles, and current events in relation to them. Rebel (n): A person who is disobedient to unjust authority and stands up for fundamental principles, despite conventions and the opinions of others. Thanks for Watching! The best way to follow Unsafe Space, no matter which platforms ban us, is to visit: https://unsafespace.com While we're still allowed on YouTube, please don't forget to verify that you're subscribed, and to like and share this episode. You can find us there at: https://unsafespace.com/channel For episode clips, visit: https://unsafespace.com/clips Other video platforms on which our content can be found include: LBRY: https://lbry.tv/@unsafe BitChute: https://www.bitchute.com/channel/unsafespace/ Also, come join our community of dangerous thinkers at the following social media sites...at least until we get banned: Censorship-averse platforms: Gab: @unsafe Minds: @unsafe Locals: unsafespace.locals.com Parler: @unsafespace Telegram Chat: https://t.me/joinchat/H4OUclXTz4xwF9EapZekPg Censorship-happy platforms: Twitter: @_unsafespace Facebook: https://www.facebook.com/unsafepage Instagram: @_unsafespace MeWe: https://mewe.com/p/unsafespace Support the content that you consume by visiting: https://unsafespace.com/donate Finally, don't forget to announce your status as a wrong-thinker with some Unsafe Space merch, available at: https://unsafespace.com/shop

Debbie Kimberg is a 55-year-old author, activist, and director of International Expansion for Merchant Services at JP Morgan Chase from Dallas, Texas. Ms. Kimberg, her mother, and her 3 children have been diagnosed with Lyme disease. Despite 3 generations of the family exhibiting classic Lyme disease symptoms, Lyme was not a consideration until after the youngest child, Sammy, was diagnosed. Sammy's Lyme journey began prior to birth, when a brain development issue was discovered on a prenatal ultrasound. He saw a neurologist at birth and then doctors and special education service providers diagnosed him with ASD, ADHD, Tourette's syndrome (TS), OCD, Autism and PANS. At the age of 10, Sammy was also diagnosed with Lyme disease by a functional doctor. At the same time, Ms. Kimberg was also diagnosed. Finally, Sammy's test results led doctors to test his 2 brothers and his grandmother. For most of Sammy's life, his family, doctors, and teachers believed his disability would limit his ability to work and require him to live in a long-term residential facility. However, in the past 18 months, Lyme and Bartonella treatment protocols have resolved his learning disabilities and ADHD. As a result, he is reading above grade level, attending school in the general education population, and studying for the ACT college entrance exam in anticipation of attending a 4-year college. The Kimberg family's lengthy congenital Lyme disease journey activated Debbie. She has participated in advocacy forums, podcasts, articles, and has authored a soon to be published book titled “Our Hijacked Brain: A True Story of Infection, ADHD and Psychiatric Issues”. If you would like to learn more about how a Lyme advocate was born out of solving a multi-generational medical mystery, then tune in now!

Cashless ATMs and Credit Card payment tricks by Cannabis businesses are considered fraudulent. Cannabis is a Schedule I substance, so any attempts to get creative with payment options will still be classified as money laundering by the Feds. In this episode, DOPE CFO Founder Andrew Hunzicker, CPA and special guest Rick LaNeve, CPA, founder of Accounting Buds, have an in-depth discussion about the many illegal ways that Cannabis businesses are trying to collect payments. Listen in to hear about these Cannabis industry cash traps and how to avoid them. For more information on Cannabis Accounting and DOPE CFO, please visit our website. --- Send in a voice message: https://anchor.fm/dopecfo/message

EP294 - Amazon Q2 Earnings . Episode 294 is a breakdown of Amazon's Q2 2022 earnings. Episode 294 of the Jason & Scot show was recorded on Sunday July 31, 2022. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing Transcript Jason: [0:23] Welcome to the Jason and Scot show this is episode 294 being recorded on Sunday July 31st 2022 I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scot Wingo. Scot: [0:38] Hey Jason and welcome back Jason and Scott strip show listeners well we have had a plethora of vacations Jason did a business trip he's going to report on over it in our F and then I had a little covid situation so it's been The Universe has been trying to keep us from podcast so it's great to be back in the saddle tonight Jason. Jason: [0:59] I am thrilled to be chatting with you on a rare Sunday night this is unusual for us. Scot: [1:04] It is it is usually we watch our Disney movies have a little popcorn in called an evening but tonight we're going to throw down a podcast. Jason: [1:11] We I feel like we need to get ahead a little bit because you know there's a new Game of Thrones series coming soon. Scot: [1:16] I know and Lord of the Rings we got a lot a lot of geekdom kind of happening all at once here. Jason: [1:23] Exciting stuff and even more exciting than all of that Scott I'm super grateful that you're feeling well and recovered but mental picture for our listeners I have a mild version of what Jason considers a tan for the show which is super rare. Scot: [1:40] Wow and that is because you went to a that summer in RF show that's out in a ranch somewhere tell us about that. Jason: [1:48] Yeah I doubled down so I had a week of vacation in Upper Lake Michigan and then I went straight from there as one does when you work hard to a quote-unquote work trip which is in Ranchos Palos Verdes at The Tiara new resort on the beach in southern California. Scot: [2:07] Cool and then so I've been turning our F of n this time of year that was called the merchandise or the merch conference is that what you want to. Jason: [2:16] You are old school so originally when shoppbs.org and NRF were two separate entities shoppbs.org had a, fall summer event at this Resort that was exclusively focused on like digital merchandising and you're exactly right it was a great event called the merch Summit. And so this is kind of the spiritual successor to that than in a ref also had a event at the same time of year that was called the CIO Summit where all the cios got together and so they've kind of mashed those two events together change them a little bit try to make it even more inclusive and they now call it an RF Nexus and so it's focused on, really forward-looking Trends and technologies that are relevant to e-commerce professionals to digital leaders to cios and to see a Moe's so there was a you know kind of like senior execs across it marketing and. Digital all in attendance. Scot: [3:17] Nice nicer than what was the was there a topic to the event or what. Jason: [3:24] So there are a range of forward-looking topics. Like probably the trend that topic that got brought up most were various aspects of the metaverse and some of those conversations came very close to getting me kicked out of the. Scot: [3:43] Because you are. Jason: [3:45] Because I've become. Scot: [3:46] VR headsets. Jason: [3:47] I become a huge cremation. I know that's shocking to listeners who find me like wildly optimistic but you know we had a lot of outside speakers talking about the metaverse and. Spoiler alert I think the metaverse is super interesting it absolutely could be an important part of the future and when people say metaverse they're mostly talking about three things that don't necessarily go together but can which is. In ftes and blockchain stuff they're talking about the actual metaverse which is kind of like you know virtual reality and they're also talking about web 3.0. [4:24] And so they brought in a bunch of authors and subject matter experts, that are super bullish and are like it's a foregone conclusion that the future is with three and everyone's going to abandon web 2 and if you haven't already gone your, wheezes and secured your property in the metaverse then you're stupid and you're going to lose huge sums of money. And I disagree with most of that like I feel like it's. Wildly more up in the air than that and like at the moment first-movers that have tried to do Commerce things in the meadow verse have made more mistakes than not and so I spent a fair amount of time. Like debunking some of those claims and highlighting some of the catastrophic mistakes that people have been making when they when they try to make a splash in the metaverse Without Really knowing what they're doing and, I choose to believe that the attendees appreciated that counter perspective but I don't think some of the speakers appreciated being challenged. Scot: [5:20] What to do a deep dive where you essentially just dumped on the metaverse Jason dumps on the metaverse. Jason: [5:27] Well or. Scot: [5:28] Be part of our curmudgeon series. Jason: [5:29] Yeah a dose of reality about them again it could be a big thing I'm not saying it's not I'm just saying it's not a guaranteed big. And then a close cousin of that that I spoke was, the future of artificial intelligence for Commerce and I'm kind of and we've talked about this before but I'm kind of a curmudgeon on that as well only because. I think focusing on artificial intelligence is kind of silly like to me artificial intelligence is a tactic not an outcome and there are a bunch of super exciting outcomes that are, made much better by using artificial intelligence and so I talked about some use cases that I'm super excited about. But but I you know caveat that with they're not super exciting just because of the math that causes them to be artificial intelligence their super exciting because they help people find more stuff to buy and have more successful shopping trips. Scot: [6:26] Cool well that's that's definitely out there and we have history on the show of given our listeners more of the hot truth of what's going on right now so it was a it was a really interesting second quarter reporting period so we wanted to spend the bulk of our time today reporting on that I want you to lay the scene for us mr. US Department of Commerce what what's what are the things feeling like there and then you know I think we're all pretty red in on the macro that consumer confidence is like what 10 20 year lows inflation's at 40 year highs we had two quarters of negative growth that used to be called recession but no longer is called a recession. So yeah so. So that's kind of the macro backdrop and then then I saw you had done your normal really great analysis of the US Department of Commerce what's that looking like. Jason: [7:18] Yeah and there's not a lot like super game-changing in the in the monthly data from the US Department of Commerce I like is you just kind of called out I feel like we've just made this transition from. Overheated economy due to stimulus and extra covid demand and certainly a greater level of uncertainty and fluctuation but like in general, really robust retail sales to now we're having really robust retail sales because of inflation and so you know, looking at the numbers they're pretty consistent with the last couple months of numbers we've seen and so in general like July retail sales were up 8.3% from July of last year, and year-to-date all retail sales from from January through July of this year are up 8.8%, from July of last year so ordinarily we would expect retail to be up. [8:11] I'll call it you know three to four and a half points so being up 8.8 is a. Significantly higher growth obviously a chunk of that growth is. Fairly attributed to inflation and people having to spend more. But you know inflation is kind of I feel like is misunderstood and people talk about about it being one number consumers spend a bunch of money on a big basket of goods and the amount of inflation on each item in that basket of goods. Varies wildly right so the amount of inflation we're seeing in gasoline. And certain food items is really high consumer electronics are actually deflating it's a you'll get a cheaper TV this year than you did last year right so. So you know if you break down in a segments. Segments that have high inflation and you know we're negatively affected by the pandemic the last couple of years are killing it right now so it's a great time to own a gas station like that. Gas stations are up 50% year-over-year. Scot: [9:10] Yes cool and then it's too early to get the online number from the US Department of Commerce right that that's got it. Jason: [9:17] Yeah we don't have the quarterly number but the proxy that we do get is this like non-store sales and that's a nine point six percent from last year so we're where the brick-and-mortar number is up more than you would usually expect the. The non-star sales are e-commerce is up even higher but, probably a little lower than you would ordinarily expect we're kind of used to that kind of twelve to fifteen percent growth in the so you know 10% growth is a is a little bit lower. Scot: [9:50] That's because we're that they've got a comp problem because last year was such a surgery or with covid. Jason: [9:54] Exactly exactly. Scot: [9:56] Okay so that's one set up and then the other one was for some reason we've entered this interesting period where Snapchat is one of the first companies to report and. Jason: [10:06] They need to change that by the way. Scot: [10:07] Yeah I don't think that's her they like it. Because in our Recaps they've been kind of the first one to take it on the nose and it wasn't any different this quarter so July 21st they came out. And it was just a total mess and lower and a poop show because last quarter they basically said we got a handle on this we know what's going on with ID fa. You know I'm going to another Victory lap on this because I feel like you and I were like super early on I DFA and it's really coming home to roost and interesting ways and Snapchat continues to be a, non beneficiary of those changes but then addition to that, you're more in that business that I am but I've got to imagine that when you see recessionary head winds and and everyone's tucking in their expenses one of the first things that you look at is your ad spend right and you know maybe it's not a great place to be if you're Snapchat basically saying hey you know we're not really good anymore and measuring what's going on with your ads because it feels like I guess people would cut that they've also become you know one of the smaller platforms so I imagined. They're probably out on experimental ring of AD spend and maybe they get cut from that too so they had a double whammy of both kind of micro meaning I DFA and then macro softness so that was just a total total nightmare quarter for them. Jason: [11:33] No do it wasn't pretty 100% agree like I do think we call the that I DFA was going to be pretty substantial to some of these businesses but I do think. Some of there's like there they were mostly trying to blame it all on IDF a and I do think there's some softness in. Digital marketing spend right now right I guess you go into recession it's not the right thing to do but you know a lot of people that are nervous about their economic future are you know slow down their marketing spend right and it's kind of like when when you start to Skid on the ice. You know it's not very smart to hit the brakes but it's human nature to hit the brakes and and you know some people people are doing that right now and I think some of their their softness and then you know some of the softness in the other AD platforms we're going to talk about, is is related to that recessionary fear and the ongoing impact of the various privacy initiatives. Scot: [12:30] Yes so then we were all like okay that's that's Snapchat maybe it's isolated and then we had five days till Google was going to announce, or / alphabet there called a whole I will always call them Google and then there was a surprise announcement on July 24th Walmart basically came out and said hey we need to update our guidance that they had already lowered, for the quarter and they basically said sales are decent but profits are going to be way below kind of what we were talking about and they specifically called out some inventory problems so the CEO they now have everyone has a there's like 16 CEOs at Walmart or something but the CEO of us said, there's probably 20 percent of inventory if you could just wish it away and make it disappear you would, and then around that same time Target also came out and I think there's was even more severe, and then Walmart called out apparel as a problem area where basically I guess when you look at kind of your your wallet where you're spending money there's always, can't live without groceries but you can live without like that 10th pair of socks or, or a new outfit or something like that so it seems like consumers are definitely slowing down dramatically on the apparel side did you parse anything else out of the Walmart announced. Jason: [13:51] Yeah I mean I feel like those are the main two takeaways I Walmart in particular like they're got they reduce their guidance from like eleven percent profit 21 percent profit right so pretty meaningful and essentially what they said is a we're starting to see significant changes in consumer Behavior as a result of the recession and or as a result of the inflation I should say and the the specific behavior we're seeing is people are spending more on Essentials and less on non-essentials and the non-essentials are more profitable for us so our mix is getting less profitable which is why we're adjusting our guidance and it also means that we have too much of these non essentials we were already you know heavy on them because we over ordered, during all the supply chain crisis and now we're having trouble moving them so Walmart didn't say this but a lot of other pundits have said this like you can expect to see all these Goods at Walmart and Target start to really get discounted and in one weird way, that's potentially good news for the economy because that that could actually help counter some of the inflation that everyone's talking about. Scot: [14:56] Yeah yeah 10% profit change at Walmart's like a 40 billion dollar number. Jason: [15:02] Yeah I will say and you you're the stock market guy I'm not right so not shocking you come out and you revise your guidance in significantly down like that and not tracking your stock takes a pretty big haircut right so everyone wrote articles talking about the dipping the stock I happen to pick the stock right before we went on the show and its back it's completely rebuilt. Scot: [15:23] Yeah it's always better to take your medicine and then if you're going to do it kitchen sink it and throw in some stuff because it's an expectation machine not necessarily an absolute. Machine okay so then everyone was like well that's not good but maybe it's isolated to stores let's see what Shopify does well then well then Google came out and Google was mixed probably less bad than people thought so their Core Business which is people going to google.com and typing in stuff it exceeded expectations but their ad business and then their YouTube business were under pressure and they basically kind of counteract that each other where they did talk about you're more macro head runs around the ad world and that advertisers were pulling back so they kind of, added on to that Snapchat message of some softness with ad spend. Jason: [16:11] Yeah and just for Google followers I would add you know they're interested in comments Commerce particularly interesting just remember like the president of Google Commerce recently left, Bill ready to go to Pinterest right so they haven't announced a new head yet like I'm expecting them to call me any day so we'll see where that goes but previously one of the things they'd really been leaning into was YouTube for Commerce and they've added a ton of Commerce capability to YouTube and it it varies it doesn't seem like that paying off quite yet in the Google world. Scot: [16:47] Yeah and then everyone's like well let's see what Shopify does in so let's see after market close 26 was Google and then everyone was expecting Shopify to do something the next morning well then that evening Toby put out a Blog post saying hey we're laying off 10% of folks and then I was like oh boy that's not good the quarter must be really really bad. And it was really interesting to his credit I think Toby did a really good job in his blog post it's never easy to do these types of layoffs and I thought he did an exceptional job of laying out, why and essentially taking the blame for it basically saying he made a bet that this would be a pull forward it was you know. [17:32] And then when you're in the thick of it you do that was our logical, thing to think could happen and instead now we're reverting to the mean and they've gotten way out of their skis what did you think about and then the next morning because he had taken their medicine, it wasn't quite as bad and then Wall Street actually likes it when Shopify gets rid of expenses because they've added there, that's like a thousand people to them that they laid off our 10% so they've grown their head count up to this kind of astronomical 10,000 folks and then they, is one of those little quizzical because then they said you know it's not going to change our ability to innovate or do anything basically so then you're kind of like wow I wonder wonder hey how's it feel to be one of those thousand people here in that part of the message and then be you know what did they do that you didn't really need them and they were in the sales they have all these content management people so kind of not developers not product and so part of their message was they were going to double triple down on on product development and adding features. Jason: [18:33] Yeah I'll be interested to see how it plays out I got a ton of pings after that announcement because everybody did a Victory lap on my corpse right like everybody's calling and going ha ha mr. e-commerce guy e-commerce was an anomaly like it was it was big during the the pandemic but but now it's all gone see even Toby like over-invested in e-commerce and then he had to come out and say that he Comer sucks now. And so a I got a bunch of those kind of troll tweets that I had to respond to. And you know I have my own kind of issues / concerns with Shopify so a I would say. That shopify's actually been slower than I would like to see in product development leading up to this and in particular they have a product that's aimed at more Enterprises and less. Tiny businesses that's called the Shopify plus and most of the folks I talked to that have. Invest in Shopify plus I've been pretty disappointed with the rate of innovation and product development on that platform and a bunch of the people that got laid off. [19:38] Where the teams associated with Shopify plus so that seems. Interesting to me and I will tell you that like in Toby's announcement he published this this US Department of Commerce Economic Development. Which of course you and I are super familiar with and we talked about all the time but eat accurately represented it right like that there's, e-commerce has been at the certain rate and during the you know from 2022 2022 we had this crazy Spike and you know if you look at where it is now and you draw a dotted line to the growth you would have expected before the the pandemic like the. The line is barely above where you would have expected so they called that regressing to the mean and you know gosh we exuberantly over-invested in now that it's come back to the mean we have to right-size. And so the only thing that's wrong with that graph is it's kind of a it visually doesn't represent, the huge amount of growth that's in the mean like the mean is very high so, from 2022 2022 we added four hundred and twelve billion dollars a year of e-commerce sales so e-commerce in United States of America Grew 61% From 2022 2022, so when when Shopify another say oh man we covid dim boost e-commerce as much as we thought we only grew 61 percent over the last two years. [21:06] Um like how many people did you hire right like you did you you didn't add 61 percent to their their staff commensurate with that growth. So yeah I just I take exception with people that think. That this data in some way shows some some significant softness and the other thing I would say is all of these graphs that these people are talking about they all like to show the percentage of e-commerce to Total retail and. It's easy to overlook and forget the fact that the denominator in that that ratio has been fluctuating wildly because of covid-19. Scot: [21:42] Yeah yeah and then you know the other thing that mrs. is the it's like almost like a pie chart where you don't see the absolute dollars so so percentages are a tricky thing it's gonna be a better way to visualize it. One scary thing is maybe we don't revert to the mean like a week the you know the lines we haven't had enough time to know until that start sticking up you know we won't know if we're back on the mean or not who knows. Google. Jason: [22:11] I know for sure but I get you know like I will do it maybe a Shopify deep dive at some point but like to me Shopify does is. Great product for small businesses it caters to this long tail in my biggest gripe with Shopify as an investor is always that they never tell you what they're stainless or sales are like they never tell you how well last year's customers did this year they just tell you the gmv of all the customers they currently have and so as far as We Know, more than 50% of their customers go out of business every year and then you know 50% of new mom and pop start a smart start a business and sign up with Shopify so the unlike a lot of other retail platforms that report their their data and when they grow we can kind of assume e-commerce grew shopify's growth can be 100% attributed to turn we just don't know. Scot: [23:00] Yeah so then it was Thursday morning the 27th and meta formerly known as Facebook announced and that was a poop show so they had a myths of top and bottom and their second quarter of declining growth they threw the kitchen sink in there IDF a they're seeing macro issues Sheryl Sandberg is leaving and this has been announced for a while and then all the Talking Heads were like oh my God you know she when out of the top this is kind of the end of Facebook so that was that was pretty pretty negative sentiment there and then that brings us to the main topic we want to talk about which is after hours on Thursday Amazon announced. Jason: [23:41] And Scott one thing before you jump in the Amazon like you forgot the most important thing about meta. Scot: [23:46] What. Jason: [23:48] The Kardashians are mad at them. Scot: [23:50] Oh yes they changed Instagram in Kim's I don't I haven't tracked this you know it better than I do. Jason: [23:56] Yeah I'm just well it is an interesting thing will do another show about this at some point but like Instagram is has probably been the crown jewel of men of for a while and you know Instagram is getting a lot of competition from Tick Tock that the news feed and Tick-Tock is a lot more our rhythmic so the content you see is less related to who you particularly follow and more what the robots think they want to show you and the you know can monetize and so Facebook to try to follow suit is changing Instagram to be more algorithmic and less based on your followers and so if you're a mega influencer with 30 million followers you don't like that right like if you're Kim Kardashian you want everyone to see all of your content because they followed you you don't want them to see some unknown person that did something viral. And so the change that Instagram made is to be more like Tick-Tock and you know some of these big big influencers that benefited from the old model understandably don't like it in are criticizing it. Scot: [25:01] Got it yeah we should definitely do a Kardashian deep dive how fun will that be. Jason: [25:06] Yeah yeah finally be able to let Kylie on the show and so she'll stop bugging us. Scot: [25:12] Good. Okay so if you've been listening this recap there's two words I haven't said and those are beat and raised so then Thursday night Amazon came out and everyone was like oh boy this is gonna be bad and there was a CNBC person who actually like a lot of names Josh and. He was basically he they do this little lunch time. They have this investment committee they call it and he's had a short on Amazon because he kept thinking they were going to miss Q2 he basically said look with Walmart and Target basically reporting the way they have. To think Amazon would do differently means they have some totally different customer base I just don't think that's the case so Amazon surprised everyone with a beat and raised quarter. So how did they do that with all this you know we've got Walmart Surprise Miss Shopify surprise Miss Google. Less worse meta terrible Snapchat total disaster in an Amazon just kind of came out and surprised everyone. [26:16] So so one way to think about Amazon is this very unique business and there's not a lot of. That you know another company like this that they have this portfolio of businesses they have built and they're all intertwined but. They have I imagine they have this is my mental model is they have dials where they can turn up and down this portfolio of businesses because they're all intertwined and that's one of the benefits of keeping this stuff together like when PayPal and eBay were together there are some operational Dynamics there that you could use to you know if you hit a certain speed bump or something you could navigate that better, so Amazon has these things so they've got the core retail business which is lower margin it's a retail business still profitable on its own but. [27:02] Not a great business but a good business and but like a massive scale you know hundreds you know what three hundred million dollars plus annualized then you've got a third party Marketplace business that we talk a lot about. Very profitable, doing really well you've got a smaller ad business super profitable doing really well growing rapidly AWS the cloud component now merchant services which is essentially the monetization of the, Center asset you had to build for the first piece. And my mental model is what they basically said was well we're heading into this period where we've got all these recessionary things consumers Under Pressure let's dial back on first party and dial-up third party. And that really won the day so so what they did is the third party as a percent they don't really give us. The gmv of each of these things that the total sales in each bucket they give you a unit mix so the unit mix was at an all-time high I need a fact check on this I'm 99% sure this is right. Five 57% third party versus first party the highest previous that was last quarter at 55%. They may say let's 2% how could that really make that big a difference well. [28:18] That's actually big because when a hundred dollars moves from the first party bucket and you and I have talked about this a million times but just to recap for listeners in the first party bucket the accounting is a dollar is a dollar of Revenue. The third party Amazon doesn't get to recognize the hundred dollar widget that sold they only get to recognize their commission or take rate which is about 10%. So they lose 90 dollars if a doubt if a widget moves between those things and Revenue. But that ten dollars that's left is pure profit it's almost like 99% profit so so if you really want to you know juice profits you move things from the 1p bucket the 3p buck. So and then also tell us about Prime. Jason: [29:06] Yeah so Prime is a little confusing this year because it was in July and historically that's when Prime day has always been except this weird covid era that we've had so you know if you if you go back to 2020 they canceled Prime day in July and instead had it in October and then the following year in 2021 they went back to Summer but instead of having it in July I like they always have they had it earlier in June which is a big deal because it's a quarter earlier it's Q2 instead of Q3 so we're looking at Q2 this year we're competing against a cue to that had prime day in it and this year Prime day is in Q3 so this year Brenda is back to Mid July which July 12th and 13th so a lot of extra work and verbal gymnastics for the poor cf0 on the earnings calls. Scot: [30:03] Yes there was no benefit from Prime in the quarter so that didn't really it neither hurt or helped. So even though third-party carried the day and I kind of theoretically so let's say. Yeah let's say you're running one of these really large retail businesses and you're either a store based or a e-commerce base I feel like Amazon because they have their products in a central location they can be much more dynamic because you know think of the store networks that Target and Walmart have almost like an edge Network. [30:37] And that product gets pushed out to the edge and then if you need to Pivot for some reason well you've got a tough decision you can you can pull the product back it's not really desistance not really designed for that it's mostly returns comes back not like let me yank all the sweatshirts out of a you know store number 292 or something. Or you have to liquidate them and then you end up with this problem that you call so if your Edge is full of stuff that's not really moving right now, you can't really. Change that rapidly you know you've got like a 60 90 day cycle to flush that out clear room for the stuff that's going to work so I think that even even though they did turn up these higher-margin pieces to win the day I think being an e-commerce oriented retailer gives them a lot more flexibility in a world where inventory and consumer behaviors are changing rapidly do you agree or disagree with that. Jason: [31:34] Yeah no I I mean I feel like they're their breath of offerings and monetization make them much safer than most other retailers they have more levers to pull in more knobs to dial. Scot: [31:49] And then the other thing and you know here one of the reasons I started spiffy is because we had talked so much on this show about the bifurcation where K seal Obama has come on and. Talked about the value and the consumer and the convenience or any consumer and a lot of that data came from 08-09 the quote-unquote Great Recession and you know what we learned during that recession is there is a consumer that is largely immune from recessionary and in that point time we didn't have inflation but I think I think that's kind of the same. Same kind of Stew if you will of macroeconomic stuff that the consumer has to face whereas the value are going to Consumer was really impacted by it. So I will also another argument I have is that that guy Josh on CNBC was wrong there is a separate customer now surely there's overlap and what not. But Amazon has captured all if not you know. 98% of that convenience or any consumer and you know that is a great place to be when you have a lot of these recessionary wins because they're not as impacted as the value or any consumer. Jason: [32:57] Yeah no I do I think you're 100% right like this gets complicated because these are such large numbers but the way I think of it there's 240 million households in the United States of America there is more than 100 million. Prime households right so the you know a significant chunk of America shop Amazon and have Prime, 190 million households shop Walmart so basically all you know the vast majority of America except for rich people in New York and California shop Walmart so you can't talk about oh, there's a Walmart customer and there's an Amazon Customer because the vast majority of customers go to both places but. [33:38] There's a core customer that spends most of their money at these two places that is likely very different right so there's these these higher net worth individuals that spend the bulk of their discretionary money Amazon that are way more insulated from inflation than the average Walmart consumer that spends the bulk of their money there and then. A big difference in this inflationary period is if you're a cord customer that shops at Walmart or Target. You have more economic instability so you're spending more of your dollars on Essentials versus nice to haves right and guess where you get your Essentials Walmart and Target like that's still where you get your food. And so at Walmart the mix shifts right instead of buying a cool outfit you're buying more proteins for your family. But that that Amazon customer is both more affluent and therefore less impacted by by inflation and they probably don't get their protein from Amazon. Right so like we Amazon doesn't see their quote-unquote essential spending they only see their discretionary spending so they don't have the same. Dynamics like causing their mix to shift to less profitable mixes in a recession so I do think in that way. The economic headwinds facing Walmart and Target are very different than the ones facing Amazon. Scot: [35:05] You know if you are getting your protein from Amazon it's probably at a Whole Foods where I have a feeling that consumers pretty resilient based on. Jason: [35:13] Yeah which and again people do but like a see a statistically insignificant period of like whole food is less than 4% of the grocery market so yeah. Scot: [35:23] Well our are like Kroger and those folks feeling I don't track them as. Jason: [35:27] Yeah the so again they have less discretionary right so yeah they're they're doing pretty well like they're benefiting like a lot of the items in Kroger are impacted by inflation so there's their sales are up um the you know. They're like the discretionary retailers are losing more dollars to the grocer so it's I'm not saying that that the grocer particularly love the current circumstances they're in but but they are like if you navigate them right there economically favorable. Scot: [36:03] But then because it's not Walmart where interest or you're making the toys there's there's a loser somewhere and it's pie like a Macy's and JC Penney you're probably going to get hammered I would imagine because there's you know if Walmarts telling us people aren't buying much apparel than this kind of start Rippling through all these other places. Jason: [36:18] Yeah or I'll give you an even more painful example Bed Bath & Beyond. Scot: [36:22] Yeah yes Father they're not doing well. Okay let's peel the onion on this a little bit so Revenue grew 7.2 percent year-over-year to 120 1.2 billion and that exceeded the expectations of 119 billion by about 2 billion. So not a huge huge beat but again it was such a bad setup that that it seemed like. You know what a miracle in somewhere North America this is really interesting when you kind of look inside of Revenue North America came in at 74 billion and then expectation was sixty seven billion so that was a really that was almost like a 10% Len. But then International was a miss it was 27 verses 32 billion. Everything I forgot to say that the top and everything we do is outside of the impact of financial currency moves so it's called X FX and Wall Street parlance which which is important because the, currency moves are gyrating around like crazy right now so you swirl that together and that's where you get your North America was up seven, International is all five so that's how you get your two billion dollar win but it's really interesting because if you look at Amazon's North America they were up 14 percent year-over-year which Compares very favorably to your US Department of Commerce data. Jason: [37:44] Yeah yeah no that's a and again like, I look at this all in Aggregate and say this is a solid quarter in a challenging climate for Amazon and yeah they have performed the the industry average despite being one of the largest players. Scot: [38:04] Yeah and then you know a mere like less than a week after Walmart said they were going from kind of ten percent to one percent profit margin Amazon's gross margins improved 45 percent year over year versus the consensus 43 percent so that, that was the one that really yeah I think people are like well if they make revenues surely they're going to go out and readjust their profits and it's going to be really hard so they came in with an operating income of 3.3 billion and this was in our Sunday called out an incremental for billion of increased cost but that was offset from improved fulfillment center Ops so I think what's going on is they built out the Fulfillment center capacity so crazily and they'll since the pandemic they were basically just standing them up and just you know getting stuff out as quickly as possible. [38:51] And then this quarter they kind of came back and where they use this phraseology invest in Harvest so they go in these different modes so they're able to come out of invest mode and look around and say well. You know in 2020 we sure we're setting up fulfillment centers kind of crazily lets you know we need to tweak, this this and this and then I want to have billion dollars of operational efficiency came out of that they called out some areas that are increasing and expense are. Ews expenses so those sit there and use a lot of electricity which a lot of electricity is off fossil fuels and then I think I think computers are getting more expensive I guess that must be a chip related thing you said Electronics but that's probably like big screen TVs anyway. Then obviously they called out fuel as an area and then they have a particularly large amount of money going into digital. With the funding with digital content with the funding of The Lord of the Rings series coming out and then they also bought Thursday Night Football so they called those out is as expense items. And as I mentioned at the top third-party one today. And then looking inside of there we talked about that seller Services grew nine point one percent year over year to twenty seven point four billion and I think whenever any of these things, grow faster than the Baseline of 7% and they're higher-margin they're going to drop that much more dollars to the bottom line. [40:20] So there was that and then I don't know anything about ads so I'll kick that one over to you. Jason: [40:27] Yeah speaking of things that drop Towers to the bottom line so that the ad units is a reminder is a. This business Amazon has had for a while but only broke out as a separate segment recently and so now it's fun to see it every quarter so it Q2 of 2022 was up 21% versus, the second quarter last year, um if you add up the last four quarters of Ed Revenue its thirty four billion dollars in ads than Amazon selling and Amazon doesn't tell us the profitability of these individual segments but most people estimate that like. [41:06] Worst the advertising business is probably a 75% gross margin business so, 75% gross margins on thirty four billion dollars makes the ad business more profitable than AWS for Amazon so, um Healthy Growth again you think about all the other people selling ads Google Facebook snap, um you know really struggling but Amazon you know continues to grow and they're already the third largest advertising Network in the US so, that's pretty impressive, side note you know every other retailer in the world is trying to replicate this this new ad business than Amazon has invented and they're all doing it you know with great success at a much smaller scale. Um so that you know the ad dollars are shifting from these, kind of top of funnel content providers to these bottom of the funnel retail networks that have first-party data and don't have all these idea of a. Problems that the others are facing so that's. [42:10] The ad business you know separately Amazon Amazon has this subscription business which is mostly Prime but a few other things mixed in there and, you would expect that to be slowing down because they've you know hit they've saturated they probably have half of us households have Prime accounts but that's still growing at 14% which again. [42:31] Is pretty impressive and I think that's a picking up the rate of growth from last quarter so it's super interesting impressive to me that these, these plati sticky Echo systems are particularly strong and Amazon and then of course everyone always talks about AWS, you know I get and we'll talk about this later but we get all these annoying tweets that like oh the only profitable part of Amazon is a WS and it's great it is great right and revenue there was almost 20 billion dollars in nineteen point seven billion, which is well ahead of the confessed consensus estimates it's a decent margin business so I think there is a lot of hardware and electronic electricity, behind that business but it's still pretty high margins and you know a lot of the world hasn't moved to the crowd yet so it WS has a lot of, Headroom in its Tam but a lot of folks were worried that in these economic uncertainty times that I see shops would be slowing down their migration in the cloud and therefore AWS would, would take a hit and I want to say Microsoft announced a slower rate of growth before Amazon so there was an expectation there that might not be an awesome number and and again it was pretty solid solid beat for for AWS. Scot: [43:52] Yeah so that's kind of the different operating units and then, you know again wall Street's kind of a what have you done for me lately so then everyone's like well this is an anomaly surely surely you're not going to be able to repeat this and everyone said number one stop calling me Shirley and then number two Amazon put out Q3 guidance and basically both the revenue of that guidance and the prophet were well ahead of what Wall Street had been thinking. The the revenue guidance was 125 to 130 billion which at the midpoint is 15 percent growth so are one was was quite pleased by that it basically made it feel like they were feeling very strong because remember this is all 727 so Amazon's got 27 date they got about a third of the quarter already in the books and it basically was a signal Amazon saying yeah we feel pretty good about the quarter right now and Amazon had prime day in the books as well so that was good and then. [44:54] Do anything Wall Street loves more than a beat and then raised so the beat is current quarter and then the Rays was the going forward quarter is Abby trays in a buyback so then they also said oh and by the way we bought 3.3 billion dollars worth of stock in the quarter because we felt like the price the stock was was kind of left so so that was all very very well received and and really made Amazon stand out from from me up substantially from the other both retailers and add companies that had previously reported. Jason: [45:27] Yeah so. Scot: [45:28] And then you got Mean Tweets go. Jason: [45:30] Yeah so here's what's annoying so I would say that that's a terrific quarter for Amazon given the economic climate and you know frankly exceeded my expectations and in a number of areas. But you do know there's room for lots of different interpretation and a bunch of folks on Twitter like zoomed in on the profitability of the US retail sector was down and you know they jump on this whole like see this is what we've always been saying retails unprofitable it's a loss leader for Amazon, you know really Amazon is just about a WS and this like you know Silly retail thing is just a sideshow and there's no way to make money on it. How do they get away with a lot sweeter thing Jason don't I have that right like I got a bunch of tweets like that and I didn't respond because. I'm not articulate enough to answer in a short tweet so hopefully it will make everyone listen to this this whole podcast, but I would say you guys are all wow like it was a terrific quarter for Amazon retail like and there's two things you're missing Gap profit is not the same thing as how many dollars flow to your bank account right like, um you know how much money Amazon decides to invest in new warehouses that are going to pay off in the future dramatically affects their. [46:51] And so it's almost silly to look at Gap profit to say whether Amazon retailers a good business or not but more importantly. Um all these profitable businesses that everyone's talking about exist only because of retail right so that ad business I just talked about. [47:10] People aren't coming to Amazon to consume ads they're coming to Amazon to buy stuff in the ad show up right, um and the other business that's impossible for Amazon to lose money on that's growing wildly is merchant services that you hit on, um the merchant services are because Merchants want to sell stuff on Amazon on the retail platform and so it's a little when people are talking about oh gosh the retail business and Amazon's a loser but the ad business is profitable, that's a little bit like saying. The content creation business in b.c. is a total loser but the ad business at MBC is a winner right like know that they're only able to sell ads because they create that content and in the same way. Amazon is only able to make money on Merchant Services and ads and to some extent on subscriptions because of this, vibrant strong retail business um that you know has more favorable characteristics than a lot of other big retailers in this current inflationary potentially recessionary environment so I'm sorry guys I just I think you're wrong and wildly oversimplifying Amazon's business model and economic circumstances. Scot: [48:22] Yet another framing that's kind of fun is after retails been around for what like I guess even longer but I get I was here Sears like 150 years or something. And you have all that history and it took Jeff Bezos to figure out hey you can actually glom on these really profitable high margin businesses and make the whole thing better and there's a synergy synergy inside of there that enables you to like they did this quarter where they can dial things up and down don't you think Walmart had more of that right now or Target or you know Macy's or any of these other retailers so so in a way I think they're missing the point there to just pick out this one piece that can't be unintegrated and say that it's doing bad because you have to take the whole enchilada because they designed you know retail 2.0, by mixing all these things together in a unique way no one figured out till they did. Jason: [49:21] Yeah no hundred percent so so Props to Amazon and keep on keeping on. I did want to I think we're over on time but I just wanted to just like briefly hit on a couple non earnings related topics just to wet people's whistle so. Hey we talked about prime day there's a pretty significant week that there's going to be a second prime Day this year so a lot so a number of journalists have seen internal documents. That talked about a thing called Prime Early Access sale which is scheduled to happen this fall. And so most of us interpret that as likely going to be October which again is when they accidentally had Prime in 2020 because of covid-19. So look for more there but like potentially Amazon will have a second prime day to me that's really interesting because. I feel like the first Prime day at this point is mostly about comps and people turn to match last year's Prime day and it's I'm not sure it's necessarily totally additive but adding a new sail if it. [50:26] Works and capture sales in October that could be interesting so. I found that super interesting Amazon launched a new product that maybe is only cool to me but it's called retail store analytics and this is they're taking all the data from all the cameras and all the just walk out stores and they're selling it back to the brands. So you know just like a you know a cpg can go to Amazon and find out how many glances they got on their their product detail page and how many add to carts they got, they can now find out in a Whole Foods how many people looked at their package on the Shelf versus how many people bought it so there, they're monetizing all the customer insights they're getting from these brick-and-mortar stores using all those cameras which I thought was pretty cool. And then the last thing I'll leave people with is there were some significant articles talking about internal week memos about Amazon trimming its private label and its private label largely being. Unsuccessful and Amazon potentially moving away from private label and. Like I don't think those articles are wrong but I would just throw 11 piece of caution when you interpret those articles. [51:35] I've seen no evidence that Amazon's moving away from any of its successful private-label initiatives, so so what's happening Amazon has a huge amount of private labels they have a ton of Brands they invented a bunch of them never got traction never caught on never had significant sales and I do think they're doing a rationalization of all of those, but there still are Amazon private label brands, they're doing quite well and it appears the Amazon is doubling down on those so I guess what I would say is that they're really focused on the head tail private labeled it's doing well in there, they're kind of rationalizing the long tail that was not doing well so that is all of the Amazon news, and it's a good thing because we've blown through our lot of time once again as always if you found this episode valuable we sure would appreciate that five star review on iTunes. Scot: [52:33] Thanks everyone and until next time. Jason: [52:37] Happy commercing!

Today we dive in and swim thru the past month and talk about what's going on with Business, Payments, Fintech, Decentralized Finance, and Merchant Services. The Hottest Trends and Topics from July 2022. Justin and Allen go over the past month and talk about the latest trends in technology that merchants use to grow and thrive in business. Cannabis-Related Business - You don't need a high-risk processor - you need a processor that understands your NICHE! Buy Now Pay Later - What are you waiting for? This is the hottest payment trend. If you are a business owner selling a product or service, we can help you offer this. Small business and Mobile Processing - we discuss the importance of getting set up with the RIGHT technology for your business so you can get paid. Mobile is hot along with OMNI - Channel. FinTech Friday - Funday - this is the new segment we release every Friday - so you have something fun and interesting to hear about over the weekend while you go for a walk, run, etc. What the F is Fintech - We explain precisely what FinTech is and why it is one of the hottest Buzz Words regarding business and payments. Cryptocurrency and Real Estate – Luxury Purchases - Crypto is hot outside of the USA, and the market is constantly changing. Still, it is being spent daily on ticket items like Real Estate, Jewelry, Cars, and more! Tales from the Vault – We talked about the evolution of point-of-sale systems over the last 20-25 years! Fintech Friday – Top Fintech – Buzz Words - where we talked about the terminology that everyone is either familiar with or is hearing, and we go into what these terms mean and how you can use fintech in your business. Payment Trends - This is a podcast we do monthly, and it is very popular. We dig into the news and how it affects business, payments, regulations companies have to deal with, and more! We also talk about technology you can use in your business to help you get paid faster and more efficiently. Text "Book" to (954) 827-9818, and you can book an appointment with us.

Today we dive in and swim thru the past month and talk about what's going on with Business, Payments, Fintech, Decentralized Finance, and Merchant Services. The Hottest Trends and Topics from July 2022. Justin and Allen go over the past month and talk about the latest trends in technology that merchants use to grow and thrive in business. Cannabis-Related Business - You don't need a high-risk processor - you need a processor that understands your NICHE! Buy Now Pay Later - What are you waiting for? This is the hottest payment trend. If you are a business owner selling a product or service, we can help you offer this. Small business and Mobile Processing - we discuss the importance of getting set up with the RIGHT technology for your business so you can get paid. Mobile is hot along with OMNI - Channel. FinTech Friday - Funday - this is the new segment we release every Friday - so you have something fun and interesting to hear about over the weekend while you go for a walk, run, etc. What the F is Fintech - We explain precisely what FinTech is and why it is one of the hottest Buzz Words regarding business and payments. Cryptocurrency and Real Estate – Luxury Purchases - Crypto is hot outside of the USA, and the market is constantly changing. Still, it is being spent daily on ticket items like Real Estate, Jewelry, Cars, and more! Tales from the Vault – We talked about the evolution of point-of-sale systems over the last 20-25 years! Fintech Friday – Top Fintech – Buzz Words - where we talked about the terminology that everyone is either familiar with or is hearing, and we go into what these terms mean and how you can use fintech in your business. Payment Trends - This is a podcast we do monthly, and it is very popular. We dig into the news and how it affects business, payments, regulations companies have to deal with, and more! We also talk about technology you can use in your business to help you get paid faster and more efficiently. Text "Book" to (954) 827-9818, and you can book an appointment with us.

If you're a business owner and process payments and you want to learn about the latest trends and financial technology for businesses, this is the podcast for you! We talk about business, payments, fintech, Defi, Merchant Services, Cryptocurrency, and more on the B2B Vault Podcast. In Today's Podcast we discuss Are you really a High-Risk Merchant? We go over a few different business types and what happens when you engage with a specialist at NPS about a high-risk merchant account. Not every account you might think is High Risk is more like a niche - and the reason for that is that banks all have different specialties when it comes to merchant accounts that are in high-risk or niche categories. After being in the business for over 20 years we have contacts with banks and processors and we know who likes what types of accounts and what it will take to get you approved. So relax and get ready to learn about the high-risk merchant services business and how we get your account approved. We have a saying - if it's legal - there is a solution out there for your business! Carpe Diem - Seize The Day - Peace out