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Johny Fernandez: I'm Johny
Fernandez here with Sean Murray

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with deBanked News and we're at
the 20th annual SEAA annual

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conference. Sean welcome. And
man, those glasses. Tell me

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about them. They're smooth. They
make you look better than you

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know what usually look like
where'd you get them?

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Sean Murray: Well, I actually
got them from the exhibit hall

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believe it or not, these are
card connect.

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Johny Fernandez: Okay.

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Sean Murray: Glasses. Yeah.
Yeah. Very expensive. Sure, go

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for it. Yeah.

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Johny Fernandez: Here we go.

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Sean Murray: Okay.

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Johny Fernandez: I got a big
head. So I guess, you know.

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Sean Murray: We gotta we gotta
get to the larger, the larger

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size.

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Johny Fernandez: I like it
though it blocks the Florida

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Sun. Not too bad in the shirt.
Sean.

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Sean Murray: Yes.

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Johny Fernandez: Pretty
colorful. Reminds me of Froot

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Loops. It's like a Froot Loops.

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Sean Murray: Froot Loops?

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Johny Fernandez: Yeah, that's
that's the theme that we're

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going for today.

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Sean Murray: Okay.

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Johny Fernandez: I like it.

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Sean Murray: You really like
comparing me to all the

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different cereals.

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Yesterday was Tucan Sam.

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Isn't that Fruit Loops?

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Johny Fernandez: It is Fruit
Loops too.

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Sean Murray: It sounds like you
think about Fruit Loops, Fruit

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Loops a lot.

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Johny Fernandez: I do. But we're
in Florida. We're in Bonita

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Springs, Florida. We've been
here since yesterday, recapping

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the event yesterday. And today,
we have a jam packed day full of

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different interviews. And also
just different exhibit and

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different educational networking
events that are gonna be

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happening with the people here
at the event. So definitely an

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exciting time. But Sean, let's
talk a little bit about the swag

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that we've been seeing at the
exhibit hall. So what are we

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what have you seen and kind of
walk us through what you've been

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able to pick up and something
that I've also seen a lot where

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the different technologies that
are being brought to the event

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and also to the industry. So
let's talk about that a little

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bit.

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Sean Murray: Yeah. So if you're
starting with the swag, so we

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were talking about yesterday
that the exhibit hall, it

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reminds us a lot of like, what
the activity was like in earlier

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years, like 2019 the swag the
swag is like what you would

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normally expect from a show,
except you see a lot more of a

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these a lot more hand sanitizer.
Yeah. Like, if you go to like, I

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don't wanna say every booth, but
I feel like half the booths. I

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don't I can only hold two of
these in my hands. But.

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No, but they've made it really
convenient from what we've seen,

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you know, you can have the clip
ons, you have these and you have

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like the little ones that look
like a square where you can just

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spray it. So and that's been a
common denominator.

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Yeah.

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Johny Fernandez: With all the
booths.

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Sean Murray: Yeah.

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Johny Fernandez: You know, so
that's.

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Sean Murray: I feel like hand
sanitizer was always an item

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that people would have at a
booth. Yeah. But maybe that was

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something that could have
potentially just kind of gotten

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lost in your bag that you didn't
end up using. Yeah. Now it's

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like, it's like an essential,
you know what I mean? Like, I

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think everyone's kind of using
hand sanitizer now. And so we

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definitely see all we're seeing
a lot of hand sanitizer out

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there. But we're seeing we're
seeing the shirts, we're seeing

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the bags, we're seeing the pens,
we're seeing the bottle holders,

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we're seeing all the brochure
I'm holding brochures. Yeah.

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Actually, yeah I was. I was in
there earlier this morning

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holding brochures, you know. So
it's, it's, this is what I'm

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looking at Clover. This is a
Clover brochure right here. So

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it's all the stuff you would
normally expect, you know, the

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activity yesterday was pretty on
point. And that was only a half

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day today is like the full day,
a full day of stuff. And so I

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think it's we're off to a good
start. Yeah. In terms of what

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else we saw at the booths. Yeah.
Let's talk about demographics.

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Yeah. First, right. We saw a
lot, you know, who was at the

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SCAA show, I saw some point of
sale materials, right. That's

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all terminals. I saw monitors
all the equipment that not that

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people would normally use to
process payments. Yeah. There's

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a lot of terminals on display. A
lot of monitors on display, that

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type of equipment is out there.
I saw some security companies.

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Yep. That are exhibiting I saw
merchant acquirers merchant

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processes, obviously, you would
have those here. They're trying

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to include ISOs and agents from
the payment side. And this is

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actually an interesting little
fact, because the term ISO is

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used very often in the Small
Business Finance world. It comes

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from payments. Okay. So when you
see ISO here, ISO, some people

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call it ISO, I call ISO because
I've been in it for so long, but

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it comes from payments. That's a
merchant processing agent. Yeah.

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And because in the beginning,
everyone who was in the MCA

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small business financing world
was also an agent for payment

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processing, the term ISO
discontinued. So when you see

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all the ISO terminology that's
being used here, they're talking

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about payments ISOs. Yeah. I saw
a lot of a lot of companies

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recruiting that type of ISO
here. I did see some actual

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lenders and funders too, as, as
we know. Yeah. We've seen them.

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We've you even talked to a
couple. I think we're gonna have

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some more on

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Johny Fernandez: Today.

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Sean Murray: Yes.

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Johny Fernandez: And I think
what's also interesting is the

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layout that they have at the
actual exhibit hall, you know,

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it seems like a regular
convention conference meeting.

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And you know, but they do, it's
spaced out. So people, you know,

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can walk around comfortably and,
you know, talk to the different

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businesses that are here and
also see the new technology. One

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of the technologies that caught
my attention was the big Bitcoin

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booth. Yeah. That was there. But
besides that, like you said,

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there's been a lot of different
things like terminals. Yeah. And

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just like businesses showing
different types of technology

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that are now coming to the
scene. And something that's also

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really interesting is the
discussions that are gonna be

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happening later on today. I know
starting at 10 o'clock, they're

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gonna have one that's called
disruptive payment. technologies

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and the future of fintech and
then from.

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Sean Murray: Fintech?

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Johny Fernandez: Yes.

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Sean Murray: Okay. So yeah, so
fintech is part of the show.

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Johny Fernandez: Yes.

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Sean Murray: Right.

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Fintech is part of the show. And
like I said, we've definitely

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seen a lot of cryptocurrency
marketing in there. So that's

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something that's definitely, you
know, within the last year, you

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know, it exploded and now, you
know, we're seeing it here in

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Process Payment show.

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Yeah. You know, this wouldn't
normally be considered a fintech

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show. But these are fintech
companies. Yeah. This would be a

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real this is the real fintech
show. Yeah. This is actual

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financial technology. Yeah. I
think it's important to

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recognize that I think, I think
a lot of the tech companies who

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started in the last 10 years,
think that they invented. Yeah.

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Finance and tech together. Yeah.
But finance was already being

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conducted through technology and
being conducted through all the

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point of sale machines we've
been seeing in the room out

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there before. Yeah. And so when
we see fintech here, I mean,

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this, of course, this is
fintech.

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Johny Fernandez: Yeah. And it's
also interesting just to see,

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you know, the technology that's
inside there, you know, things

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from like, the card like you the
tap, you know, when you tap your

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card on the terminal to like
just the different booths that

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they have. So seeing what what
they have planned for the

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future. And I think the second,
the other option that people

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have for a breakout session
today, it's how to win on

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feature now price with
surcharging. So that's gonna be

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one of the big options that
people have. In regards to

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breakout sessions. Yeah. But I
think was a really interesting

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one that's going to be happening
a little bit later on in the

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afternoon, is COVID, in the
facing changes to changing face

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of payments. So they're gonna be
talking about that. And the

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other option people are going to
have, and this is a really

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popular one, especially amongst
millennials is cash apps,

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disrupting payments. I think
that one is definitely something

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that I personally want to kind
of go check out because people

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you know, millennials,
especially specifically, they're

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using cash apps, now more than
ever, and this being a payment

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show, seeing how you know, the
two correlate but also seeing

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how, you know, technology in
regards to apps are changing

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this specific demographic. And
like we've said, we've seen

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people from different ages,
we've seen people, you know, on

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the older spectrum, but we've
also seen young, you know,

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people in their 20s, also in the
show, and also involved whether

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it's representing a company or
whether it's here as someone

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that's just attending a
networking. So it's definitely

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something that I'm definitely
looking forward to in regards to

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seeing you know how all these
things go hand in hand, not only

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with fintech, but also with
alternative finance and seeing

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how a lot of these companies
have changed after COVID.

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Sean Murray: Have you ever used
like a cash? You have cash app

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on your phone?

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Johny Fernandez: I do I have
cash app, I have Venmo, I have

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PayPal.

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Sean Murray: Okay which one do
you use the most?

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Johny Fernandez: Venmo.

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Sean Murray: Venmo, okay.

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I have Zelle, I use Zelle too.

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Okay.

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Johny Fernandez: So I have all
of them. I don't go to the bank

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anymore.

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Sean Murray: You don't go to the
bank?

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I try not to.

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Okay.

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Johny Fernandez: I'll be honest,
except if it's to take out cash

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to stick with my budget. But for
the most part, it's Venmo and

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Cash App. And that's why I said
I think it's really interesting.

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This being a payment show. Yeah.
Specifically, this is one of

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those things that this new
technology, it's not, you know,

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a bulk technology where you can
feel and see a new machine. It's

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literally all through your phone
and everything's done through

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your phone nowadays. Yeah. So I
think that's definitely going to

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be interesting breakout session,
especially as you know, more

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millennials kind of start moving
into this world.

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Sean Murray: Are you using those
apps to pay like your friends

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are you using them to like buy
things at a store?

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Johny Fernandez: I'm using it
mostly between friends, like if

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I'm paying my rent, and I have
to pay, you know, it's my

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roommate. So like, I'll pay my
rent through that. Or then if we

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go to a restaurant, we all
charge it on one credit card.

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Yeah. And using that credit
card, we can all Venmo after

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that, and Venmo each other to
make sure the bill gets covered.

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So.

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Sean Murray: So the actual bill
itself is still being paid by a

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credit card. It's the it's the
payments around.

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Johny Fernandez: Yeah.

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Sean Murray: After the fact

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Johny Fernandez: It is.

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Sean Murray: Okay.

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Johny Fernandez: So that's
exactly why I said it goes hand

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in hand because it's not like
it's completely gone. And like

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one is going against the other,
which in some ways it could be

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but at the same time, it's also,
you know, kind of correlates at

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the end of the day, depending on
who uses it and what it's used

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for.

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Sean Murray: Yeah. And I think
that's why they have a session

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here about Cash App disrupting
payments, because of the fact

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that at the end of the day, how
did that payment actually get

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made on the credit card, all the
money circled around, you know,

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you and your friends or whoever
it is. And I think that the

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payments industry really needs
to you know get on top of that,

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you know, they aren't they are
on top of them. Yeah. But you

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know, that's obviously naturally
one of the topics of discussion.

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It's something that they've been
thinking about, you know quite a

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bit about that. They're
competing against all the apps,

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you said you have like four,
four different apps.

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I do I have four and they're all
connected to my bank account.

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Yeah.

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Johny Fernandez: And then from
there, you know, depending on

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what's being used, that's how,
you know it gets distributed. So

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it's very interesting, because
now I barely even go to the

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actual bank to take out cash
unless I really need it.

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Sean Murray: Yeah, I think the
danger is whether or not you

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start using all those apps to
make your purchases themselves.

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Johny Fernandez: Okay.

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Sean Murray: Like if you go to
the store, you're using those

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apps to buy things. And you're
bypassing all the other normal

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means of processing a
transaction. I think that's, you

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know, that's what they're trying
to get a hold up here. I think

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that's like one of the biggest
topics of discussion right now.

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Yeah. Because if all of it's all
happening in the background,

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it's and you already have them
on your phone. Yeah. And is that

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something? All right, so you
barely take out cash. So that's

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something that you would prefer
to do just use, you know, kind

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of, you know, tap your phone or
hold your phone? Is that easier

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for you?

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Johny Fernandez: Yeah, it is. I
mean, even I think, like we

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talked about yesterday, you
know, we've seen the payment

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world change when it comes to
something as simple as taking a

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cab in New York. But then from
there, you know, like, now I

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have my credit card, on my
phone. So if anyone has my

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phone, they can use, essentially
use my credit card. And that's,

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it makes life a lot easier. But
it's also changing the way, you

255
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know, I pay for things or how I
use it, which I think that's why

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that breakout session at 1:30 is
gonna be very interesting, you

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know, to hear what they have to
say in regards to, you know, the

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payments world. And also, I
think this specifically, how

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millennials are using it, and,
you know, kind of their angle on

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it.

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Sean Murray: Yeah, you know, one
thing I will say, and I I'm not

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just plugging an SCAA, but I've
been through a lot of shows in

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my life. And the big difference
between going to a breakout

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session or a session in person
versus watching it online or a

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recording of it. I feel like
when you're watching the

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recording, for whatever reason,
it just doesn't connect as much.

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And when you're in person that
you really need it. There's a

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lot more takeaways. And there's
a lot more thinking probably

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because there's some just like
in person discussion about it

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afterwards. And there's usually
the option for Q well, you can

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do Q&A on Zoom. Yeah. It just
doesn't connect the same way.

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Yeah, I mean, I think that's
why, you know, being here, we

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know that there's more than 900
people that are attending

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whether it's, you know, they've
registered beforehand, or they

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walked in. It's also interesting
to see just the simple fact that

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they are here and people want to
be here. Yeah. I think that's

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something we noticed yesterday
that everyone, you know, they

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want to be in person, they kind
of want to forget the Zoom age

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of our life. Yeah. And just be
back in person that. Yeah. And

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something that I heard a lot of
people say here is like, it's so

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good to see you. People are
shaking hands, people, you know,

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they're excited the energy you
can feel it it's here, and it's

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kind of comparing back to 2019.
When people you know, I heard

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someone say yesterday, we never
thought we would be back in

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person. And that's interesting.
And I think that goes to prove

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your point that people don't
want the zoom experience

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00:12:20.100 --> 00:12:23.010
anymore. Yeah. People want to be
here. People want to feel the

288
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energy. They want to touch,
feel, you know, kind of your all

289
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your senses, they want to use
it.

290
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Yeah. There was a lot of
touching.

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Johny Fernandez: There was a lot
of touching.

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Sean Murray: Not like in an
inappropriate way, it was like

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we were talking about yesterday,
it was very like, like how are

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you know, like, it was like very
prolonged and it was very, it

295
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was very kind of like, it was it
was there was a lot more

296
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substance to it. It used to be I
you know, I don't know and now

297
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it's like, you know, now it's
like, it's really, it's really

298
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good to see, you know what I
mean, when people are being very

299
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sincere. Yeah. You know, and
being able to do that, of

300
00:12:53.190 --> 00:12:54.480
course, if you're wearing the
red.

301
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Johny Fernandez: Yeah, well I
think let's break down how it's

302
00:12:57.300 --> 00:13:00.600
done here. So currently at the
conference right now, if they're

303
00:13:00.660 --> 00:13:03.990
pretty much making sure everyone
has a specific sticker. Yeah.

304
00:13:04.020 --> 00:13:06.810
Every sticker means something
different means your level of

305
00:13:06.900 --> 00:13:10.380
comfort when it comes to, you
know, social distancing, or

306
00:13:10.380 --> 00:13:14.160
touching or hugging, etc. Yeah,
So there's one, if it's purple,

307
00:13:14.160 --> 00:13:16.920
that means you're fully
vaccinated. And if it's green,

308
00:13:16.920 --> 00:13:18.360
that means you know, you're
good.

309
00:13:18.390 --> 00:13:20.400
Sean Murray: Yeah. You know,
ready to party.

310
00:13:20.400 --> 00:13:22.560
Johny Fernandez: Party and go.
Yellow means you're kind of in

311
00:13:22.560 --> 00:13:24.630
the middle. And then red means
stop.

312
00:13:24.630 --> 00:13:27.570
Sean Murray: Yeah, stop, keep
your distance. Yeah, keep a keep

313
00:13:27.570 --> 00:13:28.050
a good distance.

314
00:13:28.050 --> 00:13:30.630
Johny Fernandez: Yeah. So I
think that's a very interesting

315
00:13:30.870 --> 00:13:34.590
approach to a time like we're at
now where people have different

316
00:13:34.590 --> 00:13:37.920
levels of comfortability, and
they're not sure where exactly

317
00:13:38.100 --> 00:13:42.450
the another individual fits in
that area. So that's something

318
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that they definitely they've
done well here to make sure

319
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people are aware. And if they're
not aware, there's signs

320
00:13:47.910 --> 00:13:51.300
everywhere that show the
guidance of that color and what

321
00:13:51.300 --> 00:13:54.690
it means and also how that
person feels when you know,

322
00:13:54.780 --> 00:13:57.510
they're interacting with another
individual that they may not

323
00:13:57.510 --> 00:13:59.940
know. And. Yeah. This is a
networking event at the end of

324
00:13:59.940 --> 00:14:03.300
the day. So that's a huge role
in why people come in the first

325
00:14:03.300 --> 00:14:03.600
place.

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00:14:03.600 --> 00:14:05.970
Sean Murray: Yeah, you were
talking about there being some

327
00:14:05.970 --> 00:14:09.630
Bitcoin, jump out in the exhibit
hall. There's even a crypto

328
00:14:09.630 --> 00:14:13.260
topic that's being talked about
here today. Crypto is

329
00:14:13.260 --> 00:14:15.780
interrelated with payments,
obviously, because it is

330
00:14:15.780 --> 00:14:19.620
payments. I know for many
people, it's an investment or a

331
00:14:19.620 --> 00:14:21.660
way to get rich, you know, you
want you want the number to go

332
00:14:21.660 --> 00:14:24.420
up. I really think that things
like Bitcoin are payments at the

333
00:14:24.420 --> 00:14:26.340
end of the day. I've been saying
this since the beginning. Yeah.

334
00:14:26.370 --> 00:14:28.260
I feel like I haven't wavered. I
don't know how other people

335
00:14:28.260 --> 00:14:30.780
feel. But for me, it's always
been like a payment mechanism.

336
00:14:30.810 --> 00:14:33.900
Yeah. Maybe it could be more
expensive depending on you know,

337
00:14:33.900 --> 00:14:36.270
whatever the the minor fees and
all that are it could be it

338
00:14:36.270 --> 00:14:39.390
could be a little slower,
potentially. And you can't you

339
00:14:39.390 --> 00:14:43.350
can't reverse the charge. Yeah.
But it is but crypto and Bitcoin

340
00:14:43.350 --> 00:14:46.770
in particular are payments.
Yeah. And I think the crypto

341
00:14:46.770 --> 00:14:50.700
that we're seeing here there's a
Bitcoin ATM machine. Yeah. Like

342
00:14:50.700 --> 00:14:52.080
an actual Bitcoin ATM machine.

343
00:14:52.110 --> 00:14:53.100
Johny Fernandez: We're not gonna
cash out.

344
00:14:53.130 --> 00:14:55.350
Sean Murray: Yeah. Were you
doing that before?

345
00:14:55.560 --> 00:14:58.260
Johny Fernandez: I was messing
around without tryna tryna cash

346
00:14:58.260 --> 00:14:58.320
out.

347
00:14:58.320 --> 00:14:59.220
Sean Murray: You're just trying
to cash out.

348
00:14:59.250 --> 00:15:00.600
Johny Fernandez: Get the
millions and get out.

349
00:15:00.630 --> 00:15:02.790
Sean Murray: Head down to
Florida, convert everything into

350
00:15:02.790 --> 00:15:05.730
Bitcoin. Yeah. And then we don't
hear from you ever ever again.

351
00:15:06.330 --> 00:15:07.050
Where was he, yeah.

352
00:15:07.290 --> 00:15:10.440
Johny Fernandez: Where was he.
Bonita Springs, at the

353
00:15:10.440 --> 00:15:14.940
conference, never seen whatever
again. So but Sean, let's also

354
00:15:14.940 --> 00:15:17.790
talk about a little bit more,
you know, obviously we have the

355
00:15:17.790 --> 00:15:20.970
breakout sessions. And then we
also have, you know, we've seen

356
00:15:20.970 --> 00:15:23.220
the different exhibits, we're
gonna take get some footage to

357
00:15:23.220 --> 00:15:26.490
you guys at home, what that what
that looks like. But let's talk

358
00:15:26.490 --> 00:15:28.170
a little bit about the people
that we're gonna be chatting

359
00:15:28.170 --> 00:15:30.390
with today. I mean we have
different people lined up

360
00:15:30.930 --> 00:15:35.760
different leaders of companies,
CEOs. Yeah. So I guess what are

361
00:15:35.760 --> 00:15:38.160
your expectations for that? What
do you what are you hoping to

362
00:15:38.160 --> 00:15:41.490
hear? What are you expecting to
hear in regards to just the

363
00:15:41.490 --> 00:15:44.040
payments business and how it's
growing? Because I think that

364
00:15:44.040 --> 00:15:48.000
was a pattern we saw yesterday
that despite 2020 being a hard

365
00:15:48.030 --> 00:15:51.300
hitting year for a lot of the
guys. Yeah. They still were able

366
00:15:51.300 --> 00:15:54.750
to recover and they were still
able to have a bigger comeback.

367
00:15:54.810 --> 00:15:58.500
Yeah. Then what the expected.
Yeah. Whether it's hiring or

368
00:15:58.500 --> 00:16:00.090
whether it's just growing your
business.

369
00:16:00.120 --> 00:16:02.340
Sean Murray: Yeah. Well, you
know, what do I expect to hear?

370
00:16:02.400 --> 00:16:05.850
I think that we will expect to
hear as we talk to more people,

371
00:16:06.030 --> 00:16:12.300
both off camera and on camera. A
lot of a lot of optimism. I'm

372
00:16:12.300 --> 00:16:15.720
speaking with Andrew Altschuler
later who's from GRP Funding,

373
00:16:16.050 --> 00:16:18.600
and then I think you're speaking
with Ken Peng. Yes. Over at

374
00:16:18.600 --> 00:16:20.700
Elevate. He's gonna be on
shortly. I think like.

375
00:16:20.700 --> 00:16:22.470
Johny Fernandez: Yeah, he's
gonna be around 10 o'clock.

376
00:16:22.470 --> 00:16:25.260
We're gonna have a live
interview with him. But and I

377
00:16:25.260 --> 00:16:27.960
think like what you said,
definitely, we're gonna hear

378
00:16:27.990 --> 00:16:31.320
just a lot of optimism. Yeah. I
think that's the pattern, we've

379
00:16:31.320 --> 00:16:36.900
seen that this specific business
area hasn't stopped. These guys

380
00:16:36.900 --> 00:16:40.440
have kept going. Yeah. They're
looking for ways to make sure

381
00:16:40.560 --> 00:16:44.400
they integrate, you know, just
their new, you know, whether its

382
00:16:44.460 --> 00:16:48.210
motto or, you know, plans or
business plans or whatever.

383
00:16:48.210 --> 00:16:50.430
Yeah. They have, they really
want to make sure they hit the

384
00:16:50.430 --> 00:16:53.310
ground running, especially
coming into this year. I heard

385
00:16:53.310 --> 00:16:56.490
one of the guys yesterday, say
specifically, this is gonna be

386
00:16:56.520 --> 00:17:00.060
our biggest year yet. Yeah.
Meaning, regardless of what's

387
00:17:00.060 --> 00:17:03.900
happened, they haven't stopped.
Yeah. So it'll be interesting to

388
00:17:03.900 --> 00:17:06.930
kind of hear from these guys.
You know about their experience

389
00:17:06.930 --> 00:17:08.970
and what they have planned,
cause a lot of these guys, you

390
00:17:08.970 --> 00:17:11.910
know, they they have growing
businesses, and it'll be very

391
00:17:11.910 --> 00:17:14.100
interesting to see how that
plays out. So.

392
00:17:14.099 --> 00:17:15.839
Sean Murray: Yeah, some of the
funding companies that are here,

393
00:17:15.869 --> 00:17:17.879
they've actually been coming to
the show for like 10 plus 10

394
00:17:17.879 --> 00:17:18.659
plus years.

395
00:17:18.720 --> 00:17:19.140
Johny Fernandez: Okay.

396
00:17:19.410 --> 00:17:24.180
Sean Murray: And a lot of people
might not know it, but the MCA

397
00:17:24.180 --> 00:17:27.000
small business lending product
was born out of the payment

398
00:17:27.000 --> 00:17:30.390
shows, like like here. Yeah.
Like if you wanted to go and

399
00:17:30.390 --> 00:17:32.820
learn about small business
financing, or merchant cash

400
00:17:32.820 --> 00:17:36.000
advance, or whatever it is some
method of financing that involve

401
00:17:36.240 --> 00:17:39.120
payments, you had to come to one
of these shows you had to come

402
00:17:39.120 --> 00:17:42.240
to SCAA, you had to go to the
other one, Northeast Acquirers

403
00:17:42.240 --> 00:17:44.730
you had to go to the ETA show,
which is now known as transact.

404
00:17:44.880 --> 00:17:48.450
And that's where all these
people met. And, and then and

405
00:17:48.450 --> 00:17:52.200
then kind it of like broke,
broke, broke apart, right. And

406
00:17:52.200 --> 00:17:55.830
now there's, there's entire
shows and trade groups and all

407
00:17:55.830 --> 00:17:59.460
that stuff for the financial
services, guys separate from the

408
00:17:59.460 --> 00:18:02.640
payments, guys. But the ones
that are here, I think they

409
00:18:02.640 --> 00:18:06.150
never lost sight of the value of
payments. And there are still

410
00:18:06.150 --> 00:18:10.680
companies, traditional MCA
players, who still rely on

411
00:18:10.800 --> 00:18:14.490
collecting a percentage of debit
and credit card sales, who are

412
00:18:14.580 --> 00:18:18.810
at shows like this one, building
relationships, or managing and

413
00:18:18.810 --> 00:18:21.360
continuing ones they've had for
a long period of time. Yeah. And

414
00:18:21.360 --> 00:18:22.830
so when people were saying, you
know, this is gonna be the best

415
00:18:22.830 --> 00:18:25.680
year yet, these things don't
happen automatically. Yeah. You

416
00:18:25.680 --> 00:18:28.440
don't just, you know, that was
post COVID. Yeah. Therefore,

417
00:18:28.470 --> 00:18:31.080
everything is great. It takes a
lot of effort. You know, you

418
00:18:31.080 --> 00:18:33.660
have to you have to do things in
order to accomplish that coming

419
00:18:33.660 --> 00:18:36.810
to these type of shows is the
way to do it. Yeah. And there's

420
00:18:36.810 --> 00:18:39.330
not that many of them here which
kind of makes it sort of like

421
00:18:39.330 --> 00:18:42.150
the secret the secret weapon
like, you have to be different.

422
00:18:42.240 --> 00:18:45.360
Yeah. Advertising just on Google
or something, or. Yeah. Or just

423
00:18:45.360 --> 00:18:48.990
cold calling brokers and ISOs.
You know what I mean, it's not

424
00:18:48.990 --> 00:18:51.690
gonna not gonna be enough. Yeah.
If you're going to be one of

425
00:18:51.690 --> 00:18:54.660
those companies, that's taking
it to the next level. So people

426
00:18:54.660 --> 00:18:58.350
always want to know, what else
what else can I do? If you form

427
00:18:58.350 --> 00:19:02.580
a relationship with a payments
company that could really scale

428
00:19:02.580 --> 00:19:04.800
your business? Yeah. Right. If
you have access to all their

429
00:19:04.800 --> 00:19:08.970
payments, clients, and all those
payments, clients can use you

430
00:19:08.970 --> 00:19:12.570
for their for their funding.
Yeah, that's gonna give you a

431
00:19:12.570 --> 00:19:15.480
big leg up on the competition.
Yeah. Where, where you can

432
00:19:15.480 --> 00:19:18.270
actually scale it, because it's
one thing to just try to, you

433
00:19:18.270 --> 00:19:21.210
know, call a bunch of brokers
or, you know, referral partners

434
00:19:21.210 --> 00:19:24.120
or whatever. But if you have
access to a merchant acquirer or

435
00:19:24.120 --> 00:19:27.360
merchant processor that has 10s
of 1000s or hundreds of 1000s of

436
00:19:27.360 --> 00:19:30.540
customers, and you're their
primary financing source. Yeah.

437
00:19:30.990 --> 00:19:33.420
I mean, your work your work is
cut out for you, you know what I

438
00:19:33.420 --> 00:19:36.480
mean? How do you grow post
COVID? Like that's, that's one

439
00:19:36.480 --> 00:19:37.530
of the secret ways to do it.

440
00:19:37.560 --> 00:19:39.750
Well, and I think it's something
we shared you shared with me

441
00:19:39.750 --> 00:19:43.620
inside and when I asked, you
know, how exactly does the

442
00:19:43.620 --> 00:19:46.920
payment world. Yeah. Go with,
like, you know, alternative

443
00:19:46.920 --> 00:19:50.190
finance and something you broke
down was, for example, it's

444
00:19:50.190 --> 00:19:53.220
something as simple as having
the dashboard, the company

445
00:19:53.220 --> 00:19:56.640
dashboard when you start firing
these, you know, they can get

446
00:19:56.730 --> 00:19:59.760
like, let's say if it's a
restaurant, they can apply for

447
00:19:59.760 --> 00:20:03.030
credit. You know, and that goes
hand in hand back to like the

448
00:20:03.030 --> 00:20:08.310
lending world. If I'm not
mistaken. Yeah. The, you know,

449
00:20:08.310 --> 00:20:11.250
and these guys could apply for
credit and get approved within

450
00:20:11.280 --> 00:20:12.990
less than an hour or so.

451
00:20:13.080 --> 00:20:15.780
Yeah. Oh, yeah, that's a really
good point. So some of these

452
00:20:15.900 --> 00:20:18.510
point of sale equipment that we
see out there in the exhibit

453
00:20:18.510 --> 00:20:21.900
hall, they have the monitor that
a business can use to run their

454
00:20:21.900 --> 00:20:25.080
business. They know they can use
it to sell things to process

455
00:20:25.080 --> 00:20:28.440
cards and all that. And I think
the other secret there is that

456
00:20:28.470 --> 00:20:32.250
oftentimes there's a funding
button built into that. And

457
00:20:32.340 --> 00:20:36.360
these payments companies are
typically not the lender or the

458
00:20:36.360 --> 00:20:39.330
funder behind it all. So they
need to partner with someone

459
00:20:39.510 --> 00:20:41.430
they want to, they want to
provide something that is

460
00:20:41.430 --> 00:20:45.180
convenient to their own customer
that makes them sticky. Because

461
00:20:45.180 --> 00:20:47.880
if you if you give somebody all
this equipment, sometimes they

462
00:20:47.880 --> 00:20:50.100
give it to him for free. Yeah.
You know sometimes they charge

463
00:20:50.130 --> 00:20:52.170
you know, sometimes they sell
sometimes sometimes they lease

464
00:20:52.170 --> 00:20:54.600
it out, but sometimes it's free.
Yeah. And you don't want that

465
00:20:54.600 --> 00:20:58.590
customer to ever leave, right?
Cause you have to, you have to

466
00:20:58.590 --> 00:21:01.740
build up your revenue over time
for all the different ways. But

467
00:21:01.740 --> 00:21:04.890
one of the ways to do that is to
offer products that keeps them

468
00:21:04.890 --> 00:21:07.710
there. You don't want them to
leave you because they found a

469
00:21:07.920 --> 00:21:11.280
lending partner. Yeah. That
requires them to switch

470
00:21:11.280 --> 00:21:13.560
everything you want to be their
lending partner, or have a

471
00:21:13.560 --> 00:21:15.960
lending partner easily
accessible. And so they, you

472
00:21:15.960 --> 00:21:17.850
know some of them out there in
the exhibit hall have a funding

473
00:21:17.850 --> 00:21:20.550
button built in. Yeah. And
they're just looking for a

474
00:21:20.550 --> 00:21:23.400
funder or lender or mult or
multimodal, you know, you don't

475
00:21:23.400 --> 00:21:26.580
have to be the only one on a
platform. Yeah. You could be one

476
00:21:26.580 --> 00:21:29.520
of several. And it really
shouldn't be that way. Yeah.

477
00:21:29.550 --> 00:21:32.370
Right. If you're, let's say
you're a restaurant owner, then

478
00:21:32.400 --> 00:21:36.000
you have your POS and you click
the the get funded button,

479
00:21:36.540 --> 00:21:39.600
depending on what your sales
are, depending on you know, your

480
00:21:39.600 --> 00:21:42.060
seasonality or what type of you
know what type of restaurant you

481
00:21:42.060 --> 00:21:45.270
are, where you are, etc. It
should match match you up with

482
00:21:45.270 --> 00:21:48.060
the appropriate one, I would
think you know, I would think so

483
00:21:48.060 --> 00:21:51.240
that that maximizes the odds
that you will actually get

484
00:21:51.240 --> 00:21:54.090
funded. And so if you're out
there thinking like, oh, you

485
00:21:54.090 --> 00:21:55.950
know that was a good idea. I
missed out. I'm sure everyone's

486
00:21:55.950 --> 00:21:58.140
already secured a partnership
like that. Yeah. It's not too

487
00:21:58.140 --> 00:22:01.170
late. Because typically, they
will need multiple partners.

488
00:22:01.170 --> 00:22:04.500
Yeah. To work with. And so
that's another reason why you

489
00:22:04.500 --> 00:22:07.140
would come to a show, like a
payments show. Because where are

490
00:22:07.140 --> 00:22:11.310
you gonna make that relationship
it's not? Exactly yeah, you

491
00:22:11.310 --> 00:22:13.380
know, you want to believe it's
cold calling and you get the

492
00:22:13.380 --> 00:22:15.750
best cold callers. And you're
gonna form this amazing

493
00:22:15.750 --> 00:22:18.750
relationship with with a company
that's gonna give you 100,000,

494
00:22:18.840 --> 00:22:22.590
you know, access to 100,000
merchant customers. But an

495
00:22:22.590 --> 00:22:25.080
easier way to do it, if you want
everyone to, you know, really

496
00:22:25.080 --> 00:22:27.120
increase your odds is to come to
one of these shows.

497
00:22:27.120 --> 00:22:28.920
Johny Fernandez: Yeah. And I
think it's interesting because

498
00:22:28.920 --> 00:22:32.490
like, you know, the real estate
world, the payments world,

499
00:22:32.730 --> 00:22:36.030
alternative finance world, MCA
lending, at the end of the day,

500
00:22:36.030 --> 00:22:40.110
it's a relationship, business,
you know, I'm gonna call you, if

501
00:22:40.110 --> 00:22:43.200
I know you in person versus
someone that's cold calling. And

502
00:22:43.200 --> 00:22:47.370
it's like, hey, like, you know,
can I will you, you know, and

503
00:22:47.370 --> 00:22:50.280
you're like, it's just awkward,
not an awkward, but it's an

504
00:22:50.280 --> 00:22:52.980
interesting conversation that
you have, versus if I meet you

505
00:22:52.980 --> 00:22:57.090
in a show. And it's like, hey,
you're Sean from the SCAA show

506
00:22:57.360 --> 00:22:59.940
that I met in Bonita Springs,
like, there's something that

507
00:22:59.940 --> 00:23:03.930
clicks and just being in person
is so much more better. Yeah.

508
00:23:03.960 --> 00:23:07.650
You make a memorable, you know,
first impression that obviously,

509
00:23:07.650 --> 00:23:09.960
that's how you end up being able
to partner with these guys

510
00:23:09.960 --> 00:23:12.810
versus, you know, cold calling,
or whatever the case is,

511
00:23:12.900 --> 00:23:14.880
especially if you're just
starting out in the industry,

512
00:23:14.910 --> 00:23:17.670
whether it's, you know, any of
the ones that we already

513
00:23:17.670 --> 00:23:20.250
mentioned, if you're starting
out and and you need to build

514
00:23:20.250 --> 00:23:24.120
that repertoire, you need to
build that relationship and

515
00:23:24.240 --> 00:23:27.000
build that network. This is a
great place to do that. Because

516
00:23:27.000 --> 00:23:30.060
like you said, there's more than
900 plus people already here.

517
00:23:30.090 --> 00:23:33.000
Yeah. You know, we can see that
people do want to talk with

518
00:23:33.000 --> 00:23:35.370
other people. You know, we have
the breakfast going on right

519
00:23:35.370 --> 00:23:39.480
behind us. And people have been
going here non stop. Yeah. So

520
00:23:39.480 --> 00:23:41.910
it's definitely a place to be,
you know, if.

521
00:23:42.960 --> 00:23:45.510
Sean Murray: People are golfing
too. Yeah. Outside of the show,

522
00:23:45.630 --> 00:23:47.400
you know, it's not even just
here. So like, where are these

523
00:23:47.400 --> 00:23:49.920
deals made? Some of it is
happening, you know, the day

524
00:23:49.920 --> 00:23:51.780
before the show started or the
day after, when they're

525
00:23:51.780 --> 00:23:54.210
coughing, some of them are going
to the beach, or going to going

526
00:23:54.210 --> 00:23:56.490
to the pool. You might think
that's like, I you know, did

527
00:23:56.490 --> 00:23:57.870
that really happen? Oh, it
really happens.

528
00:23:57.870 --> 00:24:00.270
Johny Fernandez: Yeah, no, we
like this hotel is jam packed

529
00:24:00.870 --> 00:24:03.990
with people right now. And like
I said, it's just a growing, you

530
00:24:03.990 --> 00:24:06.390
know, this is a place to be if
you want to build that

531
00:24:06.390 --> 00:24:09.840
relationship with other people
and grow your business at the

532
00:24:09.840 --> 00:24:12.390
end of the day. That's
essentially why the events are

533
00:24:12.390 --> 00:24:15.450
put up. Yeah. To network andd
grow your business. So it's

534
00:24:15.450 --> 00:24:17.820
definitely exciting. And I think
like we said, we there's a

535
00:24:17.820 --> 00:24:21.840
couple of our breakout sessions
that are going on that are gonna

536
00:24:21.840 --> 00:24:25.320
be happening. And also I think
with the people that we have,

537
00:24:25.320 --> 00:24:29.490
we're gonna be interviewing them
here live. So that's gonna be

538
00:24:29.490 --> 00:24:31.950
coming up it's going to be going
going on throughout the entire

539
00:24:31.950 --> 00:24:35.790
day. And then Sean another
question I had was if people are

540
00:24:35.790 --> 00:24:39.480
interested in watching, they can
go to debanked.com if they're

541
00:24:39.480 --> 00:24:41.970
already here and. Yeah. We will
give them notifications on our

542
00:24:41.970 --> 00:24:43.740
phone if we're not mistaking.

543
00:24:44.280 --> 00:24:46.110
Sean Murray: So we're gonna send
out a push notification to

544
00:24:46.110 --> 00:24:48.450
anyone subscribed to it in the
afternoon for the for the

545
00:24:48.450 --> 00:24:51.000
afternoon session. So we're
gonna be we're gonna be we're

546
00:24:51.000 --> 00:24:53.880
gonna have a roving camera. It's
not just gonna be us here the

547
00:24:53.880 --> 00:24:56.970
whole time. Yeah. You know,
yesterday was the first day,

548
00:24:57.000 --> 00:25:00.270
evening that we were here, after
we do our live interviews here

549
00:25:00.300 --> 00:25:02.880
we will in the afternoon, be
roving around the exhibit hall

550
00:25:02.940 --> 00:25:06.570
and around the show, so you will
see more of it. You know, here,

551
00:25:06.570 --> 00:25:10.050
it's not just us standing here.
So there will be there will be

552
00:25:10.050 --> 00:25:10.830
more content.

553
00:25:11.310 --> 00:25:12.660
Johny Fernandez: I mean, it's
good that, we're here.

554
00:25:12.660 --> 00:25:16.050
Sean Murray: Yeah, it's gonna be
media. There's a sale behind us,

555
00:25:16.050 --> 00:25:16.320
yeah.

556
00:25:17.250 --> 00:25:19.380
Johny Fernandez: No, but it
will, we will be showing you

557
00:25:19.380 --> 00:25:22.860
guys more inside the exhibit
hall also us chatting with other

558
00:25:22.860 --> 00:25:23.610
people, so.

559
00:25:23.640 --> 00:25:25.260
Sean Murray: We're gonna go to
some of the booths and stuff too

560
00:25:25.260 --> 00:25:27.150
we're gonna give you some of
that as well, today's the first

561
00:25:27.150 --> 00:25:30.690
full day of the show. So this is
the one day that we can actually

562
00:25:30.690 --> 00:25:32.130
show you all all that stuff.

563
00:25:32.190 --> 00:25:36.300
Yeah. So Sean, what are you most
looking forward to today? Out of

564
00:25:36.300 --> 00:25:37.590
all the things you have planned?

565
00:25:38.130 --> 00:25:41.580
I actually, believe it or not, I
always get the most value out of

566
00:25:41.580 --> 00:25:44.370
talking to people at their
booth. You know, I've gone to a

567
00:25:44.370 --> 00:25:47.100
lot of different shows, I've
usually gone in the capacity as

568
00:25:47.100 --> 00:25:51.660
media, and I typically schedule
interviews. They weren't on

569
00:25:51.660 --> 00:25:56.550
camera. Yeah. They were usually
in a in a media room. And there

570
00:25:56.550 --> 00:25:59.580
will always be a PR person
there. And it would it would be

571
00:25:59.580 --> 00:26:01.980
so formal. Because there would
always be that you know, that's

572
00:26:02.280 --> 00:26:05.010
that PR person nudging. Yeah.
The executive board what to say

573
00:26:05.010 --> 00:26:08.820
what not to say. Yeah. And so
while that was my job, I felt

574
00:26:08.820 --> 00:26:11.880
like that didn't give me the
most value out of the

575
00:26:11.880 --> 00:26:14.820
experience, because I was
getting the perfectly polished

576
00:26:15.030 --> 00:26:19.590
and ready for print lines. And I
always got the most out of going

577
00:26:19.590 --> 00:26:23.040
to the booths and talking to
people. Yeah. And just because,

578
00:26:23.070 --> 00:26:26.190
well, if it was something I was
gonna use for a story, I would I

579
00:26:26.190 --> 00:26:29.250
would tell them, right, I would
ask, that's really great. You

580
00:26:29.250 --> 00:26:32.250
know, is that something that I
could use. And so later on, I'm

581
00:26:32.250 --> 00:26:34.860
actually really looking forward
to, you know, going in there.

582
00:26:34.890 --> 00:26:37.020
Yeah. And just, you know,
shaking hands, and just, you

583
00:26:37.020 --> 00:26:39.750
know, that's where that's where
you like, that's where it

584
00:26:39.750 --> 00:26:42.420
starts. Yeah. You know, you
don't just magically go golfing

585
00:26:42.420 --> 00:26:44.970
with somebody, you know, or it
starts at the booth, to be

586
00:26:44.970 --> 00:26:47.670
honest with you. Like, there's
there's value in that. And I

587
00:26:47.670 --> 00:26:50.610
always feel like I got the most
there. And you get the

588
00:26:50.610 --> 00:26:53.910
unfiltered, you know, people who
work at the booths, they're

589
00:26:54.150 --> 00:26:58.140
there, they have their pitches
down. Yeah. But they just give

590
00:26:58.140 --> 00:27:00.840
you the more the more real, you
know, story of like, what's

591
00:27:00.840 --> 00:27:02.490
going on, so that's what I'm
looking forward to.

592
00:27:02.550 --> 00:27:04.350
That's awesome. That's a good
one. Yeah. It's definitely a

593
00:27:04.350 --> 00:27:07.260
good one. I think what I'm
looking forward to the most are

594
00:27:07.260 --> 00:27:09.750
the breakout sessions, the
cashapp, like we've talked

595
00:27:09.750 --> 00:27:12.360
about, that's something that
really catches my attention.

596
00:27:12.360 --> 00:27:15.840
Yeah. And also seeing the
younger audience coming to these

597
00:27:15.840 --> 00:27:18.570
things and talking to them,
because they have a whole

598
00:27:18.570 --> 00:27:21.960
different point of view of a
payment show than someone that's

599
00:27:21.960 --> 00:27:24.960
been in it for like the last 20,
30 years, and these are the guys

600
00:27:24.960 --> 00:27:27.270
that are gonna be coming up, you
know, and that they're gonna be

601
00:27:27.270 --> 00:27:30.960
carrying this world, you know,
to the future. So that's what

602
00:27:30.960 --> 00:27:33.150
I'm looking forward to the most
and chatting with them.

603
00:27:33.210 --> 00:27:34.560
I feel like we have a good age
range.

604
00:27:34.590 --> 00:27:36.690
Johny Fernandez: Yeah, we do.
Yeah, we definitely do. We have

605
00:27:36.750 --> 00:27:41.310
people from like, you know,
young, early 20s to people that

606
00:27:41.310 --> 00:27:44.250
are in their 50s and 60s. So
it's definitely a good range.

607
00:27:44.280 --> 00:27:44.610
Sean Murray: Yeah.

608
00:27:44.610 --> 00:27:45.510
Johny Fernandez: So I think.

609
00:27:45.630 --> 00:27:47.490
Sean Murray: It might not be
like a crypto conference,

610
00:27:47.490 --> 00:27:47.670
though.

611
00:27:47.700 --> 00:27:51.090
No, definitely not. We're not at
that, you know, extreme. But I

612
00:27:51.090 --> 00:27:53.700
think it is a good range. And we
have a good demographic of

613
00:27:53.700 --> 00:27:56.790
people. And then from pretty
much the entire country. They're

614
00:27:56.790 --> 00:27:59.640
here. Yeah. So it'll be it'll be
interesting to chat with them

615
00:27:59.640 --> 00:28:01.620
and see how the day kind of
turns out.

616
00:28:01.680 --> 00:28:05.430
Yeah. You know, we talked about
it briefly earlier. We mentioned

617
00:28:05.430 --> 00:28:08.250
Bitcoin and payments. Yeah. And
there is the subject that's

618
00:28:08.250 --> 00:28:11.550
being discussed it's about
chargebacks. Yeah. And have you

619
00:28:11.550 --> 00:28:13.440
ever disputed a credit card
charge before?

620
00:28:13.470 --> 00:28:13.830
Johny Fernandez: I have.

621
00:28:13.860 --> 00:28:16.170
Sean Murray: Okay. Well, that's
like a whole process. Like for

622
00:28:16.170 --> 00:28:19.440
you. It's just like, you know,
that wasn't me. Oh, I know, a

623
00:28:19.440 --> 00:28:23.820
very famous one of you charging
some a very famous dispute that

624
00:28:23.820 --> 00:28:25.530
you made. That's right. Okay.

625
00:28:25.560 --> 00:28:26.280
Johny Fernandez: We talked about
it.

626
00:28:26.280 --> 00:28:29.040
Sean Murray: Yeah. That was that
was a good one. That's for

627
00:28:29.040 --> 00:28:32.610
another, that's for another
time. Yeah. But there's a whole

628
00:28:32.610 --> 00:28:35.280
process that goes into when
someone disputes a charge,

629
00:28:35.820 --> 00:28:37.950
because they need to get that
money back from the merchant.

630
00:28:38.520 --> 00:28:40.920
Right. And that merchant
hopefully has the money. Yeah.

631
00:28:40.950 --> 00:28:43.260
Like, what if it was a very
large transaction? Yeah. Like,

632
00:28:43.260 --> 00:28:46.020
what if you're disputing, like a
$5,000 charge? And let's say

633
00:28:46.020 --> 00:28:48.330
you're disputing it from like,
you know, something from a month

634
00:28:48.330 --> 00:28:52.290
ago? Yeah. And it's like, okay,
great, you as the customer are

635
00:28:52.290 --> 00:28:56.220
getting paid. But that merchant
processor, deposited the money

636
00:28:56.220 --> 00:28:58.860
in the merchant's bank account,
they're like, you know, there's

637
00:28:58.860 --> 00:29:01.320
this whole chain, and now they
need to ultimately get the money

638
00:29:01.320 --> 00:29:03.720
back from the merchant. And
that's called that's called you

639
00:29:03.720 --> 00:29:06.660
know the chargeback. And so
there's actually some companies

640
00:29:06.660 --> 00:29:09.840
who are here that do that have
underwriting tools. And when we

641
00:29:09.840 --> 00:29:11.580
think of underwriting, we think
of underwriting and lending,

642
00:29:12.180 --> 00:29:14.760
there's underwriting and
payments too, they have to

643
00:29:14.760 --> 00:29:17.970
evaluate what the risk is that
the transaction is fraud or not

644
00:29:17.970 --> 00:29:21.000
fraud, or even that someone's
gonna dispute it, even if it is,

645
00:29:21.240 --> 00:29:23.880
you know what I mean even if it
is legitimate. Some people will

646
00:29:23.880 --> 00:29:25.740
just dispute charges. And
there's a lot of things that

647
00:29:25.740 --> 00:29:28.590
have to go into under
underwriting the risk just just

648
00:29:28.590 --> 00:29:34.050
in payments. Yeah. And that's
kind of why you saw the tech

649
00:29:34.050 --> 00:29:37.980
companies come in who were
charging a lot of money, like a

650
00:29:37.980 --> 00:29:39.930
way higher rates than other
people is because they were

651
00:29:39.930 --> 00:29:42.450
taking out a lot more risk
because they were trying to

652
00:29:42.450 --> 00:29:45.300
achieve scale. So when you when
you look at companies like

653
00:29:45.300 --> 00:29:48.690
Square who came in who were
charging three plus percent, on

654
00:29:48.690 --> 00:29:52.860
like a swipe transaction. It's
because they were just

655
00:29:52.860 --> 00:29:54.840
approving, essentially, you know
I don't want to speak for them.

656
00:29:54.870 --> 00:29:57.930
It seemed like. Yeah. There was
just kind of approving

657
00:29:57.930 --> 00:30:01.350
everybody. Yeah. Just to achieve
some level of scale. And the

658
00:30:01.350 --> 00:30:04.920
trade off was that the price had
to go up, because there probably

659
00:30:04.920 --> 00:30:08.310
was a higher level of fraud. And
so these companies have to be

660
00:30:08.340 --> 00:30:11.040
very careful about how they, you
wouldn't even think about it.

661
00:30:11.070 --> 00:30:13.380
Yeah. Like, you approve know,
you you do underwriting for

662
00:30:13.410 --> 00:30:15.900
someone borrowing money. Yeah.
But you very have to be very

663
00:30:15.900 --> 00:30:18.570
careful when you're underwriting
someone to accept payments.

664
00:30:18.570 --> 00:30:21.090
Yeah. Because also the merchant
could do something sneaky too.

665
00:30:21.090 --> 00:30:24.000
Yeah. They could run their own
card. You ever think of that?

666
00:30:24.000 --> 00:30:26.070
Yeah. They can run their own
card. Yeah. Let's say they have

667
00:30:26.070 --> 00:30:28.650
a $10,000 limit, and they run
their card for nine. Are you

668
00:30:28.650 --> 00:30:31.080
getting ideas? He's like oh
that's great. He's like I'mgonna

669
00:30:31.080 --> 00:30:33.270
go sign up for sign up for a
terminal.

670
00:30:34.950 --> 00:30:37.950
Johny Fernandez: Well I tell
him.

671
00:30:38.430 --> 00:30:41.160
Sean Murray: Exactly. We have
some fans, he was on yesterday.

672
00:30:41.160 --> 00:30:42.720
Johny Fernandez: He was, he was
on Dan Shapiro.

673
00:30:42.720 --> 00:30:43.950
Sean Murray: That's right. Yeah.
Fun domain.

674
00:30:43.980 --> 00:30:47.340
Fun domain. So yeah, no, but
it's very interesting. And these

675
00:30:47.340 --> 00:30:50.370
companies are there. And they're
also, you know, that's part of

676
00:30:50.370 --> 00:30:53.670
the educational aspect to learn
about these, you know, that's

677
00:30:53.670 --> 00:30:55.680
one of the breakout sessions.
Yeah. To learn about them and

678
00:30:55.680 --> 00:30:59.460
also to network with them. If
you know you are part of that

679
00:30:59.460 --> 00:31:02.280
world, the payments world. You
know, this is the place to be

680
00:31:02.280 --> 00:31:06.630
because now over 90 plus people
here. Yeah. Booths and companies

681
00:31:06.630 --> 00:31:07.020
here.

682
00:31:07.290 --> 00:31:11.490
And you never know what type of
tool that a payments underwriter

683
00:31:11.490 --> 00:31:14.070
is using that could be valuable
to a lending underwriter. Yeah.

684
00:31:14.100 --> 00:31:16.380
Because they're looking at
things that a lender might not

685
00:31:16.380 --> 00:31:19.380
have thought had thought to have
looked at. Yeah. In fact, in the

686
00:31:19.380 --> 00:31:23.280
early days of MCA, one of the
things that was looked at

687
00:31:23.280 --> 00:31:25.920
heavily was chargebacks, how
many disputes were coming in?

688
00:31:25.920 --> 00:31:29.370
Because it's one thing to look
at a business's raw, total

689
00:31:29.370 --> 00:31:32.490
number of sales. Yeah. But a lot
of those are being reversed.

690
00:31:32.550 --> 00:31:36.390
That number of sale isn't what
it is. Yeah. And this was this

691
00:31:36.390 --> 00:31:39.450
was particularly problematic for
businesses who are operating

692
00:31:39.450 --> 00:31:42.900
online in the early days of the
internet. Yeah. We saw some,

693
00:31:43.410 --> 00:31:47.790
this is me, you know, actual
firsthand experience hadn't been

694
00:31:47.790 --> 00:31:50.580
an underwriter back then, where
we would get businesses that

695
00:31:50.580 --> 00:31:53.550
were like travel related, like
you would book a trip through a

696
00:31:53.550 --> 00:31:55.860
website online. Yeah. And the
trip wouldn't be for like three

697
00:31:55.860 --> 00:31:59.670
or four months. And then you end
up not going if something

698
00:31:59.670 --> 00:32:01.590
happens and the trip didn't
happen, and you're disputing

699
00:32:01.590 --> 00:32:06.060
this large, large transaction.
Like, you know that that changes

700
00:32:06.090 --> 00:32:08.250
a lot of a lot of the sales
picture. And so we were actually

701
00:32:08.250 --> 00:32:10.770
looking at chargebacks. I
haven't heard a lot of people

702
00:32:11.160 --> 00:32:13.020
evaluating chargebacks.

703
00:32:13.020 --> 00:32:13.680
Johny Fernandez: Chargebacks,
yeah.

704
00:32:14.040 --> 00:32:16.380
Sean Murray: Since since then,
since since the whole advent of

705
00:32:16.380 --> 00:32:18.840
ACH kind of taking over and
dominating the lending and the

706
00:32:18.840 --> 00:32:21.690
MCA world. Chargebacks hasn't
really come up a lot. But

707
00:32:21.690 --> 00:32:24.720
chargebacks is something that
companies here think about all

708
00:32:24.720 --> 00:32:27.660
the time how to minimize the
risk that they have. Yeah. And

709
00:32:27.660 --> 00:32:29.820
if they can really manage that,
well, then they can they can

710
00:32:29.820 --> 00:32:33.420
bring their own cost down. We
were talking about Bitcoin

711
00:32:33.420 --> 00:32:36.510
before. Yep. Like a Bitcoin
payment. One of the one of the

712
00:32:36.510 --> 00:32:39.570
deficiencies with Bitcoin as a
as a form of payment is that you

713
00:32:39.570 --> 00:32:42.780
can't reverse it. Yeah. There's
no intermediate. Yeah. And it

714
00:32:42.780 --> 00:32:45.420
sounds great. If you're, if
you're the one on the side,

715
00:32:45.420 --> 00:32:47.580
who's like, oh, thank good,
thank goodness. Yeah. They can't

716
00:32:47.580 --> 00:32:49.680
get the money back from me.
Yeah. But it's terrible. If

717
00:32:49.680 --> 00:32:52.500
you're on the other side, and
you got like, scam. Yeah. If

718
00:32:52.500 --> 00:32:54.390
there was fraud, right?

719
00:32:54.600 --> 00:32:56.520
Johny Fernandez: Because that's
something that you like you

720
00:32:56.520 --> 00:32:59.850
said, it can't, you can't charge
them back. So what do you do?

721
00:32:59.850 --> 00:33:02.100
Who do you call? You don't call
Bitcoin and say, I'd like to

722
00:33:02.100 --> 00:33:04.980
dispute it, you know. Yeah. This
charge. Yeah. There's like,

723
00:33:04.980 --> 00:33:07.260
there's literally nothing you
can do. So you know, people are

724
00:33:07.260 --> 00:33:11.040
trying to come up with ways to
like, mitigate the risks that

725
00:33:11.040 --> 00:33:13.320
are associated with that. That
that is one of the deficiencies

726
00:33:13.320 --> 00:33:17.310
that it's essentially a one a
one way street. Yeah. And,

727
00:33:17.910 --> 00:33:22.680
honestly, there's value in
having to pay a premium for a

728
00:33:22.680 --> 00:33:25.020
transaction. And knowing that at
the end of the day, that there

729
00:33:25.020 --> 00:33:27.900
was a third party or
intermediary who can come in and

730
00:33:27.900 --> 00:33:30.540
reverse it, if the other party
didn't do what they were

731
00:33:30.540 --> 00:33:33.090
supposed to. Yeah. Now, there
are ways that you can kind of

732
00:33:33.090 --> 00:33:36.570
work around that you can kind of
put the Bitcoin into escrow. And

733
00:33:36.570 --> 00:33:40.050
it's only released once the
other party says, well, I got

734
00:33:40.050 --> 00:33:43.170
what I paid for. Yeah. But no,
but after that, it's final. And

735
00:33:43.170 --> 00:33:46.320
you can't charge things back on
a credit card in perpetuity.

736
00:33:46.440 --> 00:33:50.070
Anyway, you know, there's a time
limit for that. But there is

737
00:33:50.070 --> 00:33:54.810
value in knowing that if I don't
get what I paid for, that I can

738
00:33:54.810 --> 00:33:58.350
call my credit card company and
dispute the charge and that

739
00:33:58.350 --> 00:34:00.480
makes the whole whether it's
like a one and a half percent, a

740
00:34:00.480 --> 00:34:03.270
2%, or, you know, whatever,
whatever the fee is, of having

741
00:34:03.270 --> 00:34:06.630
done it, knowing that you know
it can go back, it can swing

742
00:34:06.630 --> 00:34:07.380
back the other way.

743
00:34:07.410 --> 00:34:10.230
Yeah. So we'll definitely be
interested to kind of learn more

744
00:34:10.230 --> 00:34:14.160
about that as the day goes on in
the breakout sessions happen, so

745
00:34:14.160 --> 00:34:17.040
here's what's coming up. So at
10 o'clock on the dot, we're

746
00:34:17.040 --> 00:34:19.560
gonna be back here streaming
live, we're gonna be talking to

747
00:34:19.560 --> 00:34:22.740
one of the business leaders of
Elevate and then after that

748
00:34:22.740 --> 00:34:26.250
interview, that's gonna wrap up
at around 1015. Who do you have?

749
00:34:26.400 --> 00:34:28.650
Sean Murray: I have Andrew
Altschuler at GRP funding

750
00:34:28.650 --> 00:34:31.230
they're actually based up in
Springfield, Massachusetts kind

751
00:34:31.230 --> 00:34:34.800
of a, you know, off the beaten
path as far as financial

752
00:34:34.800 --> 00:34:37.020
companies go, but that's what
makes it interesting and

753
00:34:37.020 --> 00:34:37.440
exciting.

754
00:34:37.650 --> 00:34:40.530
So that'd be cool to hear from
them. And then also later on,

755
00:34:40.530 --> 00:34:43.140
we're gonna be taking you guys
to the exhibit hall kind of walk

756
00:34:43.140 --> 00:34:45.570
you guys through what we've been
seeing, you know, we've talked

757
00:34:45.570 --> 00:34:47.850
about it but now we're gonna
take you there. And then also

758
00:34:47.850 --> 00:34:50.160
we'll get we're going to talk to
different people, different

759
00:34:50.160 --> 00:34:53.340
business leaders and business
owners as the day continues. So

760
00:34:53.430 --> 00:34:56.610
we're definitely excited to hear
from them and talk with them. So

761
00:34:56.610 --> 00:34:59.790
again, 10 o'clock. We're right
here back live. We'll be doing

762
00:34:59.790 --> 00:35:03.000
live interviews. And Sean again,
I love the shirt.

763
00:35:03.120 --> 00:35:03.390
Thank you.

764
00:35:03.390 --> 00:35:05.580
Johny Fernandez: I'm excited to
see what other shirts you come

765
00:35:05.760 --> 00:35:07.650
on with throughout the rest of
the day.

766
00:35:07.680 --> 00:35:09.180
Sean Murray: What do you think
I'm gonna have different shirts?

767
00:35:09.210 --> 00:35:09.600
Johny Fernandez: I don't know.

768
00:35:09.690 --> 00:35:11.010
Sean Murray: Every time I come
back on.

769
00:35:11.370 --> 00:35:12.180
Johny Fernandez: Like have
something different.

770
00:35:12.180 --> 00:35:13.320
Sean Murray: I'm gonna have no,
this is the.

771
00:35:13.320 --> 00:35:13.770
Johny Fernandez: This is the
shirt?

772
00:35:13.980 --> 00:35:16.110
Sean Murray: This is the shirt.
Yeah, it's not gonna be like

773
00:35:16.140 --> 00:35:19.740
there's no there's no wardrobe,
where I you know I do, I try it

774
00:35:19.740 --> 00:35:22.200
out on stage and I go in I put
on my other costume, yeah this

775
00:35:22.200 --> 00:35:26.220
is this is the one you're stuck
with. This was irreversible.

776
00:35:26.220 --> 00:35:29.460
This is the there's no
chargeback shirt, there's no

777
00:35:29.460 --> 00:35:30.090
disputes.

778
00:35:30.150 --> 00:35:33.720
All right. So see you guys back
at 10 o'clock is about 27

779
00:35:33.720 --> 00:35:35.460
minutes from now. So see you
guys later.

780
00:35:36.420 --> 00:35:38.190
Johny Fernandez: And welcome
back. I'm Johny Fernandez with

781
00:35:38.220 --> 00:35:42.270
deBanked TV. And we're here at
the 20th annual SEAA conference.

782
00:35:42.270 --> 00:35:46.410
And right now I am with Ken Peng
with Elevate Funding, Ken, Ken,

783
00:35:46.410 --> 00:35:49.620
thanks so much for coming here.
So Ken, let's talk a little bit

784
00:35:49.620 --> 00:35:52.290
about you know, just your
experience so far here. How has

785
00:35:52.290 --> 00:35:55.080
it been? What have you seen, and
this is one of the first events

786
00:35:55.110 --> 00:35:58.560
in person that we are in. So how
does that factor a hectic year?

787
00:35:58.560 --> 00:36:02.010
Ken Peng: It's amazing to be
back in person seeing people's

788
00:36:02.010 --> 00:36:06.330
smiling faces. I've missed that.
And it's been awesome, because I

789
00:36:06.330 --> 00:36:08.790
think the last thing I was at
was deBanked Miami in 20,

790
00:36:09.030 --> 00:36:10.200
January 2020.

791
00:36:10.260 --> 00:36:10.560
Johny Fernandez: Okay.

792
00:36:10.590 --> 00:36:11.550
Ken Peng: So it's been some
time.

793
00:36:11.550 --> 00:36:11.850
Johny Fernandez: Yeah.

794
00:36:12.000 --> 00:36:13.770
Ken Peng: Took me a minute to
get back into the rhythm. But

795
00:36:13.770 --> 00:36:14.490
yeah, I'm good

796
00:36:14.490 --> 00:36:16.710
Sean Murray: now. That's
awesome. So let's talk about le

797
00:36:16.740 --> 00:36:20.280
funding. Sure. Elevate funding,
you know, exactly. Why is the

798
00:36:20.280 --> 00:36:22.980
company like elevate hear at a
payment show.

799
00:36:23.460 --> 00:36:26.280
Ken Peng: So we are primarily
partner driven, right? We're a

800
00:36:26.280 --> 00:36:29.340
true direct funder in the MCA
space. And a lot of folks say

801
00:36:29.340 --> 00:36:32.460
that, but we really are, and we
are almost entirely partner

802
00:36:32.460 --> 00:36:35.610
driven. And so we like to work
with ISOs, brokers and things

803
00:36:35.610 --> 00:36:37.950
like that. So we're out here
meeting all kinds of awesome

804
00:36:37.980 --> 00:36:39.630
ISOs and all kinds of awesome
brokers.

805
00:36:39.750 --> 00:36:42.240
Johny Fernandez: So within the
last year, and compared to the

806
00:36:42.240 --> 00:36:44.880
people that you've been talking
to what have ISOs and brokers

807
00:36:44.880 --> 00:36:47.580
told you directly, regarding,
you know, partnerships, and then

808
00:36:47.580 --> 00:36:50.790
also just with the crazy last
year that they've had, let's

809
00:36:50.790 --> 00:36:52.860
talk about that. What have you
been hearing? What have you

810
00:36:52.860 --> 00:36:55.920
been, you know, seeing in
regards to ISOs and brokers?

811
00:36:55.920 --> 00:36:57.600
Ken Peng: Yeah, so I mean,
obviously, with COVID,

812
00:36:57.600 --> 00:37:01.440
everything happening, a lot of
funders fell off the map. And I

813
00:37:01.440 --> 00:37:03.720
think what we're starting to see
right now is a lot of ISOs that

814
00:37:03.720 --> 00:37:07.050
are trying to readjust and look
for new partners to work with,

815
00:37:07.050 --> 00:37:09.540
because maybe whatever partner
they were sending that deal to

816
00:37:09.540 --> 00:37:13.650
in the past has dropped off. So
it's been a whole lot of well,

817
00:37:13.650 --> 00:37:16.380
tell me about you like, you
know, who do you compare to? And

818
00:37:16.380 --> 00:37:19.680
like, how can I fill my, my, my
slots right now, with with your

819
00:37:19.680 --> 00:37:21.690
products? So it's been a lot of
that so far.

820
00:37:21.810 --> 00:37:24.030
Johny Fernandez: So I know, Sean
and I, we've talked a lot about

821
00:37:24.060 --> 00:37:28.770
the specifics of doing meetings
and interviews, etc, via zoom

822
00:37:28.770 --> 00:37:31.200
and a phone call versus being
here in person.

823
00:37:31.200 --> 00:37:31.440
Ken Peng: Yeah.

824
00:37:31.470 --> 00:37:32.910
Johny Fernandez: Do you think
that makes a difference?

825
00:37:33.510 --> 00:37:36.180
Ken Peng: All of the difference?
You know, I've done a couple of

826
00:37:36.180 --> 00:37:39.720
the virtual conferences over the
last year. And it's just not the

827
00:37:39.720 --> 00:37:42.120
same. There's no substitute for
face to face interaction, you

828
00:37:42.120 --> 00:37:44.400
know, you kind of like building
that rapport with that person,

829
00:37:44.400 --> 00:37:46.770
because it's all about building
relationships. And it's hard to

830
00:37:46.770 --> 00:37:50.070
build relationships over the
internet over a chat. Yeah. And

831
00:37:50.070 --> 00:37:52.500
so there's, I mean, for me, this
is wonderful. This is actually

832
00:37:52.500 --> 00:37:55.440
back to normal, and, you know,
doing things that they're

833
00:37:55.440 --> 00:37:56.010
supposed to do.

834
00:37:56.040 --> 00:37:58.110
Johny Fernandez: Yeah, so
talking about normal. We know

835
00:37:58.110 --> 00:38:01.140
here in Florida, things have
been relatively normal. For the

836
00:38:01.140 --> 00:38:03.570
last couple of months. You guys
are based based out of

837
00:38:03.570 --> 00:38:06.210
Gainesville. So let's talk a
little bit about how business

838
00:38:06.210 --> 00:38:09.510
has been like in Gainesville,
and your experience, just tryna

839
00:38:09.510 --> 00:38:13.200
get the company, you know, back
on its feet moving forward, out

840
00:38:13.200 --> 00:38:14.070
of Gainesville?

841
00:38:14.190 --> 00:38:16.440
Ken Peng: Well, so, you know,
obviously, we're kind of out of

842
00:38:16.440 --> 00:38:19.530
the madness, that there's a lot
of the major cities out there,

843
00:38:19.530 --> 00:38:22.320
right. And so for us, we've
actually been back in office

844
00:38:22.320 --> 00:38:25.980
since May of last year. And so
everything has been going pretty

845
00:38:26.040 --> 00:38:29.310
smoothly for the most part.
Gainesville itself has kind of

846
00:38:29.310 --> 00:38:32.070
been a little bit more on the
conservative, like, not

847
00:38:32.070 --> 00:38:35.070
conservative side, but a little
more careful in terms of masks

848
00:38:35.070 --> 00:38:37.530
and whatnot, alittle less
relaxed than the rest of the

849
00:38:37.530 --> 00:38:40.920
state. But for the most part
now, after the CDC announced

850
00:38:40.920 --> 00:38:44.490
that things are okay, basically,
you know, things have gotten

851
00:38:44.580 --> 00:38:46.470
back to normal, I went to a
grocery store with no mask on

852
00:38:46.470 --> 00:38:48.840
the other day. Okay. It was the
most amazing experience in my

853
00:38:48.840 --> 00:38:49.170
life.

854
00:38:50.340 --> 00:38:53.160
Johny Fernandez: So let's also
talk about, you know, what the

855
00:38:53.160 --> 00:38:56.100
experience was like in 2021.
Really quick. And then now

856
00:38:56.100 --> 00:39:01.020
moving forward, what is Elevate
plan to do you know, 2021, 2022,

857
00:39:01.110 --> 00:39:03.180
let's talk and compare versus
2020.

858
00:39:03.210 --> 00:39:05.850
Ken Peng: Yeah, we're gonna
continue to grow. We were one of

859
00:39:05.850 --> 00:39:07.860
the lucky few to actually
continue to grow throughout

860
00:39:07.860 --> 00:39:11.550
2020. And we're gonna take that
momentum and keep it going. We

861
00:39:11.550 --> 00:39:14.070
just brought on two more
underwriters. We've been honing

862
00:39:14.070 --> 00:39:16.380
in on our new website, we
actually just launched that on

863
00:39:16.380 --> 00:39:20.280
Friday. And then our tech team
has been very busy working on an

864
00:39:20.280 --> 00:39:23.190
API integration capabilities.
And so we're starting to roll

865
00:39:23.190 --> 00:39:25.860
that out as well. And so we're
just gonna continue to build on

866
00:39:25.860 --> 00:39:28.440
that momentum and keep going.
We're going to start building

867
00:39:28.440 --> 00:39:31.620
out a sales floor as well, and
continue to, you know, build out

868
00:39:31.620 --> 00:39:34.740
some more organic growth, and
hopefully things continue to go

869
00:39:34.740 --> 00:39:35.190
our way.

870
00:39:35.340 --> 00:39:37.320
Johny Fernandez: So a pattern
that we've seen here is that a

871
00:39:37.320 --> 00:39:39.540
lot of the business owners and
people that are here

872
00:39:39.540 --> 00:39:42.390
specifically, that's one thing
that they've said that 2020 has

873
00:39:42.390 --> 00:39:45.300
been a year where they've seen
tremendous growth, yeah, versus

874
00:39:45.300 --> 00:39:48.060
other businesses that have, you
know, fallen through the cracks

875
00:39:48.090 --> 00:39:51.030
or that have closed. Why do you
think it is that people have

876
00:39:51.030 --> 00:39:55.200
succeeded in 2020 versus, you
know, in other, you know, versus

877
00:39:55.200 --> 00:39:55.890
not succeeding?

878
00:39:55.950 --> 00:39:58.200
Ken Peng: Well, I think the
downturn was kind of a blessing

879
00:39:58.200 --> 00:40:00.900
in disguise for a lot of people
because it let them take a step

880
00:40:00.900 --> 00:40:03.810
back and kind of reevaluate
their business as a whole.

881
00:40:03.960 --> 00:40:07.530
Right? So, you know, for us, we
started looking at a lot of it

882
00:40:07.530 --> 00:40:10.140
was out of necessity, because
of, you know, what was happening

883
00:40:10.140 --> 00:40:12.990
with all the industry types
closing down, and all the all

884
00:40:12.990 --> 00:40:16.050
the states closing down as well.
So we actually had somebody that

885
00:40:16.050 --> 00:40:19.350
was dedicated to monitoring all
of that stuff, making sure

886
00:40:19.350 --> 00:40:23.130
things were, you know, still
viable for us, right, because we

887
00:40:23.130 --> 00:40:27.930
wanted to fund quality and not
quantity. So I think that made

888
00:40:27.930 --> 00:40:30.390
us smarter. You know, we were
able to make smarter decisions

889
00:40:30.390 --> 00:40:33.060
now and honed in on our
underwriting guidelines and our

890
00:40:33.060 --> 00:40:36.210
requirements. And I think that
kind of holds true for a lot of

891
00:40:36.210 --> 00:40:38.640
different businesses as well. So
they're operating more

892
00:40:38.640 --> 00:40:40.950
efficiently and smarter now,
from what they've learned.

893
00:40:41.010 --> 00:40:41.610
Johny Fernandez: That's great.

894
00:40:41.610 --> 00:40:41.910
Ken Peng: Yeah.

895
00:40:41.940 --> 00:40:43.110
Johny Fernandez: That's great.
So what are you most excited

896
00:40:43.110 --> 00:40:43.740
about today?

897
00:40:45.300 --> 00:40:47.310
Ken Peng: I mean, all the
networking, there's a lot of

898
00:40:47.310 --> 00:40:49.650
people still showing up to this
thing. There's a ton of people

899
00:40:49.650 --> 00:40:52.230
here. Yeah. So I'm really
excited to actually you know

900
00:40:52.230 --> 00:40:55.470
meet some new folks and see some
familiar faces too. So it's

901
00:40:55.470 --> 00:40:56.130
awesome. Yeah.

902
00:40:56.280 --> 00:40:58.320
Sean Murray: So and for people
that are not here, what would

903
00:40:58.320 --> 00:41:00.390
you say to them, you know, that
are watching right now?

904
00:41:00.450 --> 00:41:02.820
Ken Peng: Start going out to
shows it's perfectly safe. we're

905
00:41:02.820 --> 00:41:05.280
good. It's time to get back to
networking and growing your

906
00:41:05.280 --> 00:41:08.880
business. Let's keep it going.
2021's gonna be awesome. And

907
00:41:09.060 --> 00:41:10.920
yeah, we'll just let's do it.

908
00:41:11.070 --> 00:41:12.690
Sean Murray: All right. Well,
thanks so much Ken appreciate

909
00:41:12.690 --> 00:41:15.960
you being here in our space
chatting with us. So again, if

910
00:41:15.960 --> 00:41:18.330
people want more information
about Elevate, Elevate Funding,

911
00:41:18.330 --> 00:41:19.380
where could they find that?

912
00:41:19.680 --> 00:41:21.630
Ken Peng: You can come check us
out if you're here at the show,

913
00:41:22.080 --> 00:41:26.430
but then also
www.elevatefunding.com take a

914
00:41:26.430 --> 00:41:29.220
look at our brand new spankin
new website and shoot me an

915
00:41:29.220 --> 00:41:30.840
email. I'm Ken at Elevate
funding.com.

916
00:41:31.680 --> 00:41:33.450
Sean Murray: Awesome. Thanks so
much, man. Appreciate it.

917
00:41:33.450 --> 00:41:33.870
Ken Peng: Thanks, Johny.

918
00:41:34.110 --> 00:41:35.910
Johny Fernandez: And thank you
guys. Of course, we will be back

919
00:41:35.910 --> 00:41:39.690
soon with another live interview
right here from the 20th annual

920
00:41:39.870 --> 00:41:41.880
SEAA annual conference.

921
00:41:43.230 --> 00:41:45.750
Sean Murray: Okay, welcome back.
It's Sean Murray here again at

922
00:41:45.750 --> 00:41:48.840
deBanked TV at the SEAA show.
I'm here today with Andrew

923
00:41:48.840 --> 00:41:52.200
AltSchuler from GRP funding.
Andrew, thanks for being here.

924
00:41:52.260 --> 00:41:54.420
Andrew Altschuler: Oh, it's my
pleasure. You know, it's it's a

925
00:41:54.420 --> 00:41:57.870
great honor to be on the
deBanked live. And thanks for

926
00:41:57.870 --> 00:42:00.480
bringing your people down and
joining. Yeah. It's a great,

927
00:42:00.480 --> 00:42:01.590
great time a great show.

928
00:42:01.680 --> 00:42:05.190
Sean Murray: So you're part of
SEAA? Yes. And you're part of

929
00:42:05.190 --> 00:42:08.250
the funding industry. So what's
your background in the funding

930
00:42:08.250 --> 00:42:09.690
industry? You've been in it for
a while, right?

931
00:42:09.720 --> 00:42:11.280
Andrew Altschuler: Correct. So I
started in the merchant

932
00:42:11.280 --> 00:42:16.410
processing industry in 2002. And
then late 2008, we were

933
00:42:16.410 --> 00:42:20.460
introduced to a gentleman named
Jim D'Alesandro at AdvanceMe,

934
00:42:20.820 --> 00:42:24.000
and my colleague and I David
Golden at the time, we said,

935
00:42:24.060 --> 00:42:28.770
wow, so we can get the merchant
account and the merchant cash

936
00:42:28.770 --> 00:42:31.530
advance with all of this
commission at the same time, and

937
00:42:31.530 --> 00:42:34.980
we said let's do both. So that's
kind of how the company evolved.

938
00:42:35.130 --> 00:42:38.160
And that's how we got into the
merchant cash advance business.

939
00:42:38.190 --> 00:42:40.050
But I've always had a love for
the merchant processing

940
00:42:40.050 --> 00:42:43.410
business. And hence why I've
stayed close to it and work as

941
00:42:43.470 --> 00:42:46.740
on the advisory committee with
the Southeast Acquirers. So I

942
00:42:46.740 --> 00:42:49.530
love both industries, my bread
and butter is the merchant cash

943
00:42:49.530 --> 00:42:52.560
advance, and that's my, you
know, my core competency, but

944
00:42:52.560 --> 00:42:55.290
I've always loved the merchant
processing business. So and I

945
00:42:55.290 --> 00:42:57.810
love to help them out and come
down and you know, just just

946
00:42:57.810 --> 00:43:00.060
network and be part of this this
space.

947
00:43:00.090 --> 00:43:01.260
Sean Murray: Did you say 2002?

948
00:43:01.710 --> 00:43:03.780
Andrew Altschuler: 2002 we
started the merchant processing

949
00:43:03.780 --> 00:43:09.450
business. And then in 2000, I
want to say like 2005, 2006,

950
00:43:09.450 --> 00:43:12.540
AdvanceMe was the gold standard
in the space. And as Jim

951
00:43:12.570 --> 00:43:15.570
D'Alessando, as I mentioned, you
know, introduced us to it. And

952
00:43:15.570 --> 00:43:19.260
at the time, you well remember
from your background, the only

953
00:43:19.260 --> 00:43:21.900
way you could take a merchant
cash advance was you had to

954
00:43:21.900 --> 00:43:24.750
switch your merchant processing
and split the batch. And the

955
00:43:24.750 --> 00:43:28.170
company at the time that we
worked with was Cornerstone. And

956
00:43:28.170 --> 00:43:30.450
they were splitting the batch.
So we got introduced to

957
00:43:30.750 --> 00:43:34.080
AdvanceMe and we said, wow, we
can get this cash advance for a

958
00:43:34.080 --> 00:43:36.630
really nice commission, and we
get the merchant account as a

959
00:43:36.630 --> 00:43:41.790
byproduct. You know, the lights
went off, and we excuse me, the

960
00:43:41.790 --> 00:43:44.670
light bulb went off, rather, and
we were all in.

961
00:43:45.090 --> 00:43:47.160
Sean Murray: Wow, you've really
seen the progression?

962
00:43:47.190 --> 00:43:47.400
Andrew Altschuler: Yes.

963
00:43:47.400 --> 00:43:49.290
Sean Murray: From like the very
beginning, you started literally

964
00:43:49.290 --> 00:43:52.650
in the payments side and watch
the funding part, get added on

965
00:43:52.650 --> 00:43:53.220
top of it.

966
00:43:53.220 --> 00:43:53.610
Andrew Altschuler: Correct.

967
00:43:53.610 --> 00:43:55.260
Sean Murray: And then evolve.
And now like, do you feel like

968
00:43:55.260 --> 00:43:57.990
it ever split away from each
other? Or are they still like

969
00:43:57.990 --> 00:43:59.100
interconnected, in your opinion?

970
00:43:59.130 --> 00:44:01.350
Andrew Altschuler: They have
split away, as we know now,

971
00:44:02.100 --> 00:44:07.200
probably like in the late 2008,
2010 timeline. Some really smart

972
00:44:07.200 --> 00:44:09.780
people in the space said we
don't need to just base it on

973
00:44:09.780 --> 00:44:12.900
only their merchant processing
volume, we can base it on their

974
00:44:12.930 --> 00:44:15.660
overall gross volume. So it
wasn't necessarily just having

975
00:44:15.660 --> 00:44:19.500
to split the batch. We give the
loan based on their gross sales,

976
00:44:19.530 --> 00:44:23.040
right? And we take an ACH of a
fixed amount out of their

977
00:44:23.040 --> 00:44:26.820
account each night, and boom.
And from that moment on, the

978
00:44:26.820 --> 00:44:30.270
industry just went gangbusters.
It was probably 10x in the

979
00:44:30.270 --> 00:44:33.720
numbers. It's probably even way
more. Yeah. Because now you had

980
00:44:33.720 --> 00:44:35.970
all these businesses that didn't
even take credit cards that you

981
00:44:35.970 --> 00:44:39.390
can lend to. And that's when you
know the light bulb went off

982
00:44:39.390 --> 00:44:42.600
with David and I again and said,
okay, now now we can go all in

983
00:44:42.630 --> 00:44:44.760
and we kind of just put the
merchant processing business on

984
00:44:44.760 --> 00:44:48.750
the side and said, let's go all
in with merchant cash advance.

985
00:44:48.780 --> 00:44:49.260
Sean Murray: Sure.

986
00:44:49.410 --> 00:44:49.860
Andrew Altschuler: Yeah.

987
00:44:50.160 --> 00:44:51.960
Sean Murray: When did you come
to GRP? When did you start

988
00:44:51.960 --> 00:44:52.230
there?

989
00:44:52.560 --> 00:44:55.200
Andrew Altschuler: So GRP again,
we were with we had Capify a

990
00:44:55.200 --> 00:44:59.850
merchant for many, many years.
We were international. In the UK

991
00:44:59.850 --> 00:45:04.680
and Australia, and then late
2016, 17. We sold that US

992
00:45:04.680 --> 00:45:09.060
business to Kapitus. And then a
few years went by and I got

993
00:45:09.060 --> 00:45:11.670
recruited by GRP funding.
They've been in the business

994
00:45:11.670 --> 00:45:14.640
just as long as us out of
Springfield, Massachusetts, and

995
00:45:14.640 --> 00:45:17.580
I started with them in late 19.
And I said, come on, guys, let's

996
00:45:17.580 --> 00:45:22.290
go get it in the a minus b plus
space. So I've been with them

997
00:45:22.290 --> 00:45:26.400
since late 2019, which is kind
of a unique time. Yeah. Cause

998
00:45:26.400 --> 00:45:29.670
started getting our bearings
together, and then boom, boom,

999
00:45:29.670 --> 00:45:33.330
the world fell apart and March
of 2020. And we, you know, we

1000
00:45:33.330 --> 00:45:36.690
were real cautious, and we took
some breaks in funding, but now

1001
00:45:36.690 --> 00:45:40.740
that it seems to be, you know,
kind of dissipating, we're just

1002
00:45:40.830 --> 00:45:42.150
going like gangbusters again.

1003
00:45:42.390 --> 00:45:47.520
Sean Murray: Okay, so so GRP
most people are familiar if

1004
00:45:47.520 --> 00:45:49.290
they've been into the business
for a long time.

1005
00:45:49.290 --> 00:45:50.820
Andrew Altschuler: Yes. They are
a name brand.

1006
00:45:50.880 --> 00:45:52.650
Sean Murray: They are name
brand. Yeah, I've known them

1007
00:45:52.650 --> 00:45:55.800
since they started. Pretty much.
They're like a stalwart of the

1008
00:45:55.800 --> 00:45:56.160
industry.

1009
00:45:56.160 --> 00:45:56.940
Andrew Altschuler: Yes. Right.

1010
00:45:56.970 --> 00:45:59.670
Sean Murray: And if I understand
it correctly, you guys are ISO

1011
00:45:59.670 --> 00:46:00.570
only broker owner.

1012
00:46:00.600 --> 00:46:03.240
Andrew Altschuler: Correct,
correct. At this point, we don't

1013
00:46:03.240 --> 00:46:06.510
have our own direct in house
sales group, which a lot of the

1014
00:46:06.510 --> 00:46:09.180
ISOs like, right, because you're
not competing against yourself.

1015
00:46:09.450 --> 00:46:13.110
Right deal comes in as an ISO
you send it in to us, yeah from

1016
00:46:13.110 --> 00:46:15.480
time to time, you may be
competing with another ISO, but

1017
00:46:15.480 --> 00:46:17.730
you know you're not competing
with somebody sitting in our

1018
00:46:17.730 --> 00:46:21.660
office in Springfield, Mass, who
may see that deal that an ISO is

1019
00:46:21.660 --> 00:46:25.980
competing on, it's just your
deal as the ISO, and we're gonna

1020
00:46:25.980 --> 00:46:29.850
put out an offer fast. And our
operations department is quick

1021
00:46:29.850 --> 00:46:33.600
and smooth. And that that's the
model. It's pretty cool.

1022
00:46:33.690 --> 00:46:35.970
Sean Murray: Yeah. What have
ISOs been telling you? I mean,

1023
00:46:35.970 --> 00:46:37.860
you started you said late 2019.

1024
00:46:37.890 --> 00:46:38.190
Andrew Altschuler: Right.

1025
00:46:38.220 --> 00:46:39.930
Sean Murray: Right. So you come
on board.

1026
00:46:40.950 --> 00:46:43.740
Andrew Altschuler: March, March,
what was it March 17? March 18.

1027
00:46:44.250 --> 00:46:45.510
Right. The whole world shuts
down.

1028
00:46:45.510 --> 00:46:47.070
Sean Murray: The whole world
ended. So were you in

1029
00:46:47.070 --> 00:46:49.350
communication with like, ISOs
during that time?

1030
00:46:49.350 --> 00:46:52.980
Yeah. A lot of ISOs. And you
know this, well, you know, that

1031
00:46:52.980 --> 00:46:55.020
a lot of ISOs started doing
different things, right. A lot

1032
00:46:55.020 --> 00:46:57.540
of them getting into the PPP
business. They were starting to

1033
00:46:57.540 --> 00:47:02.490
sell the well, I'm sorry, they
were selling the PPE business.

1034
00:47:02.490 --> 00:47:02.760
Right.

1035
00:47:02.760 --> 00:47:04.200
Right. Yeah. They were selling
the masks.

1036
00:47:04.290 --> 00:47:05.490
Andrew Altschuler: I don't want
to sell to P, I don't want to

1037
00:47:05.490 --> 00:47:08.490
screw up my PP, PPE, is like the
personal protective equipment,

1038
00:47:08.640 --> 00:47:10.680
they were selling masks, and
then a lot of them started

1039
00:47:10.680 --> 00:47:14.190
getting into the PPP business
and selling the government, you

1040
00:47:14.190 --> 00:47:16.440
know, the bailout stuff. So a
lot of those guys were doing

1041
00:47:16.440 --> 00:47:19.200
that for a while. And I spoke to
somebody recently at the show

1042
00:47:19.200 --> 00:47:21.930
here, and they said, the PPP
stuff, kept the lights on,

1043
00:47:22.110 --> 00:47:24.330
right, it kept the lights on,
but they weren't gonna make a

1044
00:47:24.330 --> 00:47:27.030
lot of money because the
commission's that they made on

1045
00:47:27.030 --> 00:47:29.340
that stuff was low. So there's a
bunch of those guys were doing

1046
00:47:29.340 --> 00:47:31.860
that for a while. And they some
guys were still funding, and

1047
00:47:31.860 --> 00:47:34.980
they kind of just, you know,
stayed alive. And now it's just

1048
00:47:34.980 --> 00:47:37.590
going like gangbusters cause the
app.

1049
00:47:38.130 --> 00:47:39.660
Sean Murray: Like what, like
what does that mean? Like what's

1050
00:47:39.660 --> 00:47:40.680
gangbusters now?

1051
00:47:40.860 --> 00:47:43.290
Andrew Altschuler: Okay,
gangbusters is our applications

1052
00:47:43.290 --> 00:47:46.950
have doubled? You know, so far
this year, our funding is

1053
00:47:46.950 --> 00:47:48.630
doubled, you know, and even.

1054
00:47:48.630 --> 00:47:51.300
Sean Murray: Funding doubled
since the pandemic period or

1055
00:47:51.300 --> 00:47:51.450
like?

1056
00:47:51.450 --> 00:47:53.700
Andrew Altschuler: No the
funding doubled, really, since,

1057
00:47:54.930 --> 00:47:57.600
that's a good question on the
timeline. So the funding really

1058
00:47:57.600 --> 00:48:01.140
doubled as this year started,
you know, it's just been getting

1059
00:48:01.140 --> 00:48:04.950
higher and higher every month,
as you know, like Texas loosens

1060
00:48:04.950 --> 00:48:07.140
their guidelines, right. And
Mississippi loosens their

1061
00:48:07.140 --> 00:48:09.210
guidelines. And Florida has
always been a little looser. So

1062
00:48:09.210 --> 00:48:10.050
some of those states.

1063
00:48:10.080 --> 00:48:12.030
Sean Murray: If you can't, if
you can't tell it's pretty loose

1064
00:48:12.030 --> 00:48:12.210
down here.

1065
00:48:12.750 --> 00:48:14.790
Andrew Altschuler: It's pretty
loose, pretty loose, we can do

1066
00:48:14.790 --> 00:48:17.010
some of this stuff. Which is
cool.

1067
00:48:17.040 --> 00:48:17.370
Sean Murray: Yeah.

1068
00:48:17.670 --> 00:48:19.350
Andrew Altschuler: Right. So the
other states started to come

1069
00:48:19.350 --> 00:48:22.110
back. And it's been loosening
this year, I think, really, in

1070
00:48:22.110 --> 00:48:25.170
this year, it's loosening. So
when I say gangbusters, we're

1071
00:48:25.170 --> 00:48:27.270
able to we get that many more
applications that many more

1072
00:48:27.270 --> 00:48:30.810
offers that that many, that much
more funding. Yeah. So it seems

1073
00:48:30.810 --> 00:48:33.330
to be and some of it was
essential businesses at first.

1074
00:48:33.630 --> 00:48:36.360
And now it's getting to be you
know, everybody and the PPP

1075
00:48:36.360 --> 00:48:39.450
money is running out a lot of
these guys, there's no more

1076
00:48:39.450 --> 00:48:42.990
applications. My contacts at TD
Bank specifically said there's

1077
00:48:42.990 --> 00:48:45.540
no more funding going out. So
now all these business owners,

1078
00:48:45.540 --> 00:48:49.110
are like, well, all the free
money is gone. And like the

1079
00:48:49.110 --> 00:48:51.240
playing money, a lot of them now
are like, okay, I need real

1080
00:48:51.240 --> 00:48:54.510
money to reout from my location,
to do my parking lot. Whatever

1081
00:48:54.510 --> 00:48:57.450
they're trying to do with the
money they gotta, they need the

1082
00:48:57.450 --> 00:49:00.240
money to really sink back into
their business, not just to stay

1083
00:49:00.240 --> 00:49:03.690
alive, or have fun with now they
gotta get serious.

1084
00:49:03.720 --> 00:49:05.610
Sean Murray: Yeah. So I mean,
what do you think happens now

1085
00:49:05.610 --> 00:49:08.100
you say you doubled or, you
know, it's progressing upward.

1086
00:49:08.130 --> 00:49:08.490
Andrew Altschuler: Yeah.

1087
00:49:08.670 --> 00:49:12.780
Sean Murray: Are you envisioning
that it's going to come back up

1088
00:49:12.780 --> 00:49:16.860
to possibly, come back up, but
do you think it could surpass

1089
00:49:16.890 --> 00:49:20.280
where it was like 2019? Like, is
it gonna be like a people were

1090
00:49:20.280 --> 00:49:23.550
talking about recovery right
now. And I think some people are

1091
00:49:23.550 --> 00:49:26.160
wondering, does that mean like,
do we go back to the numbers we

1092
00:49:26.160 --> 00:49:29.310
had before? Are there
possibilities for it to go even

1093
00:49:29.310 --> 00:49:30.420
higher than it was before?

1094
00:49:30.450 --> 00:49:32.910
Andrew Altschuler: I think it
goes back to the numbers from

1095
00:49:32.910 --> 00:49:35.580
before at a minimum, but I think
it's gonna go even higher,

1096
00:49:35.910 --> 00:49:40.140
because the traditional banks
are still tightening up, you

1097
00:49:40.140 --> 00:49:42.600
know, they're they still have to
protect themselves. Because the

1098
00:49:42.600 --> 00:49:45.840
fallout from their business they
still don't know. Right? A lot

1099
00:49:45.840 --> 00:49:48.930
of it is still up in the air,
right? The blending that a lot

1100
00:49:48.930 --> 00:49:51.570
of the traditional banks did,
they're still nervous about they

1101
00:49:51.570 --> 00:49:54.600
don't know cause they're, they
have so many tentacles in

1102
00:49:54.600 --> 00:49:57.690
different products, right? With
mortgages and commercial

1103
00:49:57.690 --> 00:50:00.240
mortgages and residential
mortgages. Right. So I

1104
00:50:00.270 --> 00:50:02.340
referenced TD before, they don't
know what's gonna happen to

1105
00:50:02.340 --> 00:50:03.810
their mortgage department, they
don't know what's gonna happen

1106
00:50:03.810 --> 00:50:05.790
to their commercial lending
department, they have to be

1107
00:50:05.790 --> 00:50:09.480
careful. So they're actually
hiring their standards for

1108
00:50:10.590 --> 00:50:13.620
typical regular commercial loans
to businesses. So a lot of those

1109
00:50:13.620 --> 00:50:16.500
merchants are dropping, you
know, a little bit down the

1110
00:50:16.500 --> 00:50:19.470
waterfall to guys like us. So I
think that'll continue to

1111
00:50:19.500 --> 00:50:22.920
happen. Because in our space, we
can jump back in because we know

1112
00:50:22.920 --> 00:50:26.040
what we're looking for TD or a
bank, traditional bank may not

1113
00:50:26.040 --> 00:50:28.740
jump in so fast, because they're
still in a wait and see mode,

1114
00:50:28.890 --> 00:50:31.860
they want to see how everything
else is gonna shake out, because

1115
00:50:31.860 --> 00:50:34.710
they don't want to be pregnant
with all of these other loans

1116
00:50:34.710 --> 00:50:37.410
that may go bad on them. So I
think that's the long way around

1117
00:50:37.410 --> 00:50:40.530
the answer to the question, but
I think that guys are gonna take

1118
00:50:40.530 --> 00:50:44.010
our money because they have to
re outfit they have to reinvent

1119
00:50:44.010 --> 00:50:47.340
themselves, these businesses to
you know to get back out there

1120
00:50:47.340 --> 00:50:47.850
and compete.

1121
00:50:47.880 --> 00:50:49.410
Sean Murray: So you say, you
know what you're looking for.

1122
00:50:49.440 --> 00:50:52.470
Well, what, what kind of paper
because everyone tried to put it

1123
00:50:52.470 --> 00:50:53.700
out like assigned a letter
grade.

1124
00:50:53.730 --> 00:50:53.880
Andrew Altschuler: Yes.

1125
00:50:53.880 --> 00:50:56.490
Sean Murray: Is it A paper, is
it B paper, is it C paper, what

1126
00:50:56.490 --> 00:50:58.830
type of deals does GRP look for?

1127
00:50:58.860 --> 00:51:01.170
Andrew Altschuler: We I always
like to categorize it as A minus

1128
00:51:01.170 --> 00:51:04.560
B plus stuff. So we like to see
a guy in business for a year,

1129
00:51:04.620 --> 00:51:07.530
you know, as long as he's north
of 500 in credit, you know, a

1130
00:51:07.530 --> 00:51:09.570
lot of people shake their heads
said, wow, that's, that seems

1131
00:51:09.570 --> 00:51:14.070
like it's lower grade, but north
of 500, in business for a year,

1132
00:51:14.520 --> 00:51:18.570
not terribly poor bank
statements with a lot of NSF,

1133
00:51:18.600 --> 00:51:22.290
NSFs, and, and negatives and
things like that. But that kind

1134
00:51:22.290 --> 00:51:24.930
of stuff is what we're typically
what we're looking for. So I

1135
00:51:24.930 --> 00:51:26.820
would categorize it, as
anybody's watching and

1136
00:51:26.820 --> 00:51:30.390
understand, like A minus B plus,
we're gonna go out probably 12

1137
00:51:30.390 --> 00:51:33.030
months, you know, things like
that. And we'll get some low buy

1138
00:51:33.030 --> 00:51:37.260
rates in the 120, or the 125,
and we're getting aggressive.

1139
00:51:37.260 --> 00:51:40.050
Also, what we're doing is we're
also working with our ISOs. If

1140
00:51:40.050 --> 00:51:43.530
he says, I need this, buy rate
we'll adjust because we wanna

1141
00:51:44.010 --> 00:51:46.560
get that relationship in and we
want to really help them we have

1142
00:51:46.560 --> 00:51:50.100
some flexibility with our master
lender. So that's I think that's

1143
00:51:50.100 --> 00:51:52.800
the space that we're in, you
know, the 12 month A minus B

1144
00:51:52.800 --> 00:51:53.550
plus stuff.

1145
00:51:53.730 --> 00:51:55.530
Sean Murray: Are these daily
payments, weekly payments, like?

1146
00:51:55.560 --> 00:51:56.220
Andrew Altschuler: We have both.

1147
00:51:56.250 --> 00:51:56.670
Sean Murray: Okay.

1148
00:51:56.700 --> 00:51:59.010
Andrew Altschuler: We have both
we'll assess, you know, on the

1149
00:51:59.010 --> 00:52:01.650
underwriting process. And we'll
put the offer out, we'll say,

1150
00:52:01.650 --> 00:52:03.660
okay, you qualify for a daily or
a weekly.

1151
00:52:03.810 --> 00:52:04.110
Sean Murray: Okay.

1152
00:52:04.110 --> 00:52:05.610
Andrew Altschuler: Right, cause
a lot of merchants.

1153
00:52:05.820 --> 00:52:07.980
Sean Murray: Is this like an
under is this like an automated

1154
00:52:07.980 --> 00:52:10.380
thing, or you guys do manual
underwriting? Is it like, is

1155
00:52:10.380 --> 00:52:12.090
there like a computer in the
back that's doing all the

1156
00:52:12.090 --> 00:52:12.510
decisions?

1157
00:52:12.510 --> 00:52:14.820
Andrew Altschuler: Well, we do
put it through the computer.

1158
00:52:14.820 --> 00:52:14.940
Sean Murray: Yeah.

1159
00:52:14.940 --> 00:52:16.350
Andrew Altschuler: And we'll
scrape the bank statements, and

1160
00:52:16.350 --> 00:52:18.420
they'll put out a letter grade
on it. So that'll kind of

1161
00:52:18.420 --> 00:52:21.090
dictate, you know, how long
it'll go out, it'll dictate the

1162
00:52:21.090 --> 00:52:25.290
buy rate, it'll dictate a weekly
or a daily payment. And then,

1163
00:52:25.320 --> 00:52:28.080
you know, the underwriters do
eyeball it and take a look. And

1164
00:52:28.080 --> 00:52:30.570
then the offer goes out, right?
And then if somebody calls, and

1165
00:52:30.570 --> 00:52:33.270
needs an exception, We'll
reevaluate it again and say,

1166
00:52:33.270 --> 00:52:36.900
okay, hey, we put out for 10
months, we can go to 12, or we

1167
00:52:36.900 --> 00:52:40.350
put out a 12 month and a one to
two buy rate, okay, maybe we

1168
00:52:40.350 --> 00:52:43.650
need to bring it down to a one
to one or a 120. So we can

1169
00:52:43.650 --> 00:52:47.280
adjust it. And that's the beauty
of GRP funding is we're not so

1170
00:52:47.280 --> 00:52:50.850
massive, and it's not like this
huge ship that you have to get

1171
00:52:50.850 --> 00:52:54.390
out to make a change in any of
our policies. It's not such a

1172
00:52:54.390 --> 00:52:57.870
massive move. Like we can huddle
up, we get together the whole

1173
00:52:57.870 --> 00:53:00.870
team every Tuesday and Friday,
and we chat about what's going

1174
00:53:00.870 --> 00:53:05.280
on, or we can move quick, you
know, on our policies, as well

1175
00:53:05.280 --> 00:53:09.960
as on specific deals, right?
It's not like, we have to go to

1176
00:53:09.960 --> 00:53:13.350
the COO, and then we got to go
to the underwriting group. And

1177
00:53:13.350 --> 00:53:15.870
we have to, you know, talk to so
many people to make a change,

1178
00:53:15.900 --> 00:53:18.660
it's on the fly. Sure. And how
our Director of Operations looks

1179
00:53:18.660 --> 00:53:21.420
at a deal and says, okay, it's
four here, I can do it. You

1180
00:53:21.420 --> 00:53:23.970
know, he can make exceptions. We
want to try to keep it within

1181
00:53:23.970 --> 00:53:27.210
our box. But we all know, at
some point you may have to hop

1182
00:53:27.210 --> 00:53:30.930
out of the box. But we're small
enough, but experienced enough

1183
00:53:31.110 --> 00:53:32.070
that we're we're nimble.

1184
00:53:32.280 --> 00:53:35.100
Sean Murray: What about splits?
You mentioned ACH, do you do

1185
00:53:35.100 --> 00:53:35.940
splits still?

1186
00:53:35.970 --> 00:53:39.990
Andrew Altschuler: We still do
splits? We still do splits.

1187
00:53:39.990 --> 00:53:41.160
Sean Murray: Does anyone use
that term anymore?

1188
00:53:41.850 --> 00:53:44.520
Andrew Altschuler: Like old guys
like us we use splits. It's not

1189
00:53:44.520 --> 00:53:45.000
a split? Like.

1190
00:53:45.210 --> 00:53:46.590
Sean Murray: Yeah, yeah.

1191
00:53:46.710 --> 00:53:48.090
Andrew Altschuler: We still do
them from time to time.

1192
00:53:48.120 --> 00:53:48.360
Sean Murray: Okay,

1193
00:53:48.360 --> 00:53:49.920
Andrew Altschuler: Because there
are merchants that want to use

1194
00:53:49.920 --> 00:53:52.200
that but so infrequently, that.

1195
00:53:52.230 --> 00:53:54.240
Sean Murray: Who's initiating
that, is that something that,

1196
00:53:54.660 --> 00:53:57.750
that the broker is? I mean, how
does that even come about?

1197
00:53:57.870 --> 00:53:59.820
Ken Peng: Yeah, it's usually
there's an experienced broker

1198
00:53:59.820 --> 00:54:02.100
who's been around who
understands a split. And it's

1199
00:54:02.100 --> 00:54:04.920
usually based on on the cash
flow, right? If it's on the bank

1200
00:54:04.920 --> 00:54:07.380
statement, and if the cash and
if they're like, on the line

1201
00:54:07.380 --> 00:54:10.350
with the credit or the score, or
their they have like their on

1202
00:54:10.350 --> 00:54:13.170
the line with their NSF 's or
their negatives in the bank

1203
00:54:13.170 --> 00:54:15.810
statement, we could say, okay,
let's use a split, because

1204
00:54:15.810 --> 00:54:18.810
that'll make us feel a little
bit more comfortable with the

1205
00:54:18.810 --> 00:54:21.990
collection. So we'll offer
somebody a split. And we do do

1206
00:54:21.990 --> 00:54:24.900
them from time to time. That's
not really our bread and butter.

1207
00:54:25.080 --> 00:54:28.590
Because even operationally, it's
a little harder to engage that

1208
00:54:28.740 --> 00:54:30.480
cause you gotta go to the
processor, you got to get them

1209
00:54:30.480 --> 00:54:33.030
to sign off on it. You gotta,
you gotta wait a couple of days

1210
00:54:33.030 --> 00:54:36.030
to see the split. But to answer
your question, we still do them

1211
00:54:36.060 --> 00:54:40.110
from time to time in the right
spot, but we try not to where we

1212
00:54:40.110 --> 00:54:41.280
don't you know need to.

1213
00:54:41.580 --> 00:54:43.710
Sean Murray: Right, because I
guess it could add just another

1214
00:54:43.710 --> 00:54:45.930
layer, like another time layer
component to it.

1215
00:54:46.710 --> 00:54:48.420
Andrew Altschuler: Right, we
bring in another vendor because

1216
00:54:48.420 --> 00:54:49.590
we're not a merchant processor.

1217
00:54:49.620 --> 00:54:49.860
Sean Murray: Right.

1218
00:54:49.860 --> 00:54:51.180
Andrew Altschuler: So we gotta
bring somebody else into the

1219
00:54:51.180 --> 00:54:54.960
equation and they have to like
it initiated for us. So we try

1220
00:54:54.960 --> 00:54:57.120
because you know, the business
it's got to be done fast.

1221
00:54:57.360 --> 00:54:59.970
Otherwise, you can get run over
by somebody else. So we'll do

1222
00:54:59.970 --> 00:55:00.240
them.

1223
00:55:00.780 --> 00:55:01.260
Sean Murray: Yeah.

1224
00:55:01.380 --> 00:55:01.920
Andrew Altschuler: When needed.

1225
00:55:01.980 --> 00:55:03.540
Sean Murray: Are you hearing
about any companies in there

1226
00:55:03.540 --> 00:55:06.480
that might have like a , like a
get funded button in like their

1227
00:55:06.480 --> 00:55:07.350
point of sale?

1228
00:55:07.590 --> 00:55:08.820
Andrew Altschuler: But as we're
talking about, it's funny

1229
00:55:08.820 --> 00:55:10.950
because I had dinner with a
gentleman last night. He's a

1230
00:55:10.950 --> 00:55:14.040
pretty big ISO and he wants to
get into that space. He says, we

1231
00:55:14.040 --> 00:55:17.010
have all this data, and we want
to push the button and get the

1232
00:55:17.010 --> 00:55:19.170
offer out. Yeah. I said it's a
great idea. Because companies

1233
00:55:19.170 --> 00:55:21.450
like Square are doing that all
day long, right? Push the

1234
00:55:21.450 --> 00:55:24.060
button, and the money comes, I
said, you can push the button

1235
00:55:24.210 --> 00:55:27.660
and get some offers out as a
general idea. But you know, we

1236
00:55:27.660 --> 00:55:30.300
still have to set up like a
customer service or a sales

1237
00:55:30.300 --> 00:55:32.790
group because it's money. So
people do want to call him from

1238
00:55:32.790 --> 00:55:36.420
time to time. But I think that's
the future, right. For for

1239
00:55:36.480 --> 00:55:40.620
groups like us, I think it'll,
it'll get more commonplace. I

1240
00:55:40.620 --> 00:55:43.800
think it'll get out there. But
you know groups are working on

1241
00:55:43.800 --> 00:55:46.620
it. I think I think it is the
future. You know, I think some

1242
00:55:46.620 --> 00:55:49.110
other companies have like a
shopping cart checkout, and

1243
00:55:49.110 --> 00:55:51.840
things like that. So guys are
doing it. But we're treading

1244
00:55:51.840 --> 00:55:54.870
lightly on that, at first. We
want to kind of see what some of

1245
00:55:54.870 --> 00:55:57.810
these other guys do. But to
answer your question. Yeah I

1246
00:55:57.810 --> 00:56:00.810
think it's I think it's a valid
way to do it.

1247
00:56:00.900 --> 00:56:02.880
Sean Murray: Yeah, oh for sure.
I mean, I think it's a

1248
00:56:02.880 --> 00:56:03.900
competitive advantage.

1249
00:56:03.930 --> 00:56:04.170
Andrew Altschuler: Yeah.

1250
00:56:04.200 --> 00:56:05.670
Sean Murray: You know what I
mean, like it's the fact that a

1251
00:56:05.670 --> 00:56:08.310
merchant can just press the
button and you don't have to

1252
00:56:08.400 --> 00:56:10.650
cold call, you don't have to
send them mail. They're just you

1253
00:56:10.650 --> 00:56:14.010
know, they're initiating that
that whole offer. I want to ask

1254
00:56:14.010 --> 00:56:17.490
you just one other question
about Southeast Acquirers. What

1255
00:56:17.490 --> 00:56:19.800
do you think about, you know,
the turnout in the event so far?

1256
00:56:19.830 --> 00:56:23.730
Andrew Altschuler: I am blown
away. I was like, last night, I

1257
00:56:23.760 --> 00:56:25.950
actually missed the opening
reception, because I was so

1258
00:56:25.950 --> 00:56:29.100
wiped out. I started eight in
the morning. And you saw we

1259
00:56:29.100 --> 00:56:31.170
we're setting up setting up and
running around running around

1260
00:56:31.170 --> 00:56:33.690
running. Yeah. I was so wiped
out. I had to go upstairs and

1261
00:56:33.690 --> 00:56:36.210
close my eyes for a few minutes.
For a few minutes. I didn't miss

1262
00:56:36.210 --> 00:56:38.820
the whole thing. But I had to
like take a break. Yeah. Because

1263
00:56:38.820 --> 00:56:41.760
the turnout, I think the number
is like 700 or something like

1264
00:56:41.760 --> 00:56:46.170
that. And I think and we were
very much we're on the calls

1265
00:56:46.170 --> 00:56:48.210
every week, we were like, are we
gonna be able to do it? Are we

1266
00:56:48.210 --> 00:56:50.730
not gonna be able to do it, and
I'll give credit to John

1267
00:56:50.730 --> 00:56:52.350
McCormack and some of the other
guys, that said, we're gonna do

1268
00:56:52.350 --> 00:56:55.410
it. we're gonna go forward. And
I said, okay, you know, it's

1269
00:56:55.410 --> 00:56:58.260
Florida. And people are just
pent up and they want to come.

1270
00:56:58.290 --> 00:57:00.960
Yeah. And we're gonna do it so
the turnout has just been

1271
00:57:01.170 --> 00:57:03.660
dynamite. And you know, these
shows, it's similar to deBanked.

1272
00:57:03.690 --> 00:57:06.420
It's like old family. Yeah. Like
I see, you know, Greg walking

1273
00:57:06.420 --> 00:57:10.800
by. Hey,bud. I hear people
walking by and I like go.

1274
00:57:10.800 --> 00:57:11.940
Sean Murray: You planned that,
you planned that didn't you?

1275
00:57:11.940 --> 00:57:13.860
Andrew Altschuler: Yeah I
planned that he just walked by

1276
00:57:13.860 --> 00:57:15.660
at 1034.

1277
00:57:15.690 --> 00:57:15.960
Sean Murray: Yeah.

1278
00:57:16.200 --> 00:57:17.610
Andrew Altschuler: Right. So
it's like a family and you see

1279
00:57:17.610 --> 00:57:19.140
these people you know, and
forever, especially being in the

1280
00:57:19.140 --> 00:57:22.470
business since 2002. So that's
the cool aspect of it. And

1281
00:57:22.470 --> 00:57:25.200
people are just pent up in their
homes, wherever they are. Yeah,

1282
00:57:25.230 --> 00:57:29.610
I'll get on a plane from New
Jersey and come to Fort Myers,

1283
00:57:29.610 --> 00:57:32.850
Florida. Yeah. Not unlike
yourself, right. Let's go to

1284
00:57:32.970 --> 00:57:34.980
Newark, and let's go to Florida.
Okay, I'll do that.

1285
00:57:34.980 --> 00:57:37.350
Sean Murray: Yeah, that's that's
the spirit I got into. And I got

1286
00:57:37.710 --> 00:57:39.810
into the shirt and everything
and I assumed everyone was gonna

1287
00:57:39.810 --> 00:57:42.210
be wearing that too. Right.
Yeah. I might have been a little

1288
00:57:42.210 --> 00:57:44.910
too proactive in my. Yeah, and
we're getting into Florida.

1289
00:57:45.420 --> 00:57:46.800
Andrew Altschuler: Right. But
they gave me the shirt. So I

1290
00:57:46.800 --> 00:57:48.900
said, wow, this shirt looks
pretty good.

1291
00:57:49.080 --> 00:57:50.310
Sean Murray: They gave you that
one?

1292
00:57:50.310 --> 00:57:51.120
Andrew Altschuler: Yeah, cause
everybody if you notice

1293
00:57:51.120 --> 00:57:54.750
everybody on the committee wears
their shirt and the nametag with

1294
00:57:54.750 --> 00:57:56.670
my name spelled wrong, but like
it's okay.

1295
00:57:58.380 --> 00:58:00.270
Sean Murray: Yeah, don't ignore
the nametag.

1296
00:58:00.990 --> 00:58:02.550
Andrew Altschuler: Just just
look at Andrew is spelled

1297
00:58:02.550 --> 00:58:02.790
correct.

1298
00:58:02.880 --> 00:58:03.930
Sean Murray: Okay, that's good.
Yeah.

1299
00:58:03.960 --> 00:58:05.190
Andrew Altschuler: So back to
the question. People are just so

1300
00:58:05.190 --> 00:58:07.980
excited to come down and see see
each other and then like, that's

1301
00:58:07.980 --> 00:58:10.410
the beauty of the Southeast
Acquirers, because you know, the

1302
00:58:10.410 --> 00:58:13.650
shows, right? You have like, the
ETA is the big standard, and

1303
00:58:13.650 --> 00:58:16.860
then you have Money 2020. But,
you know, there's these huge,

1304
00:58:16.860 --> 00:58:20.520
massive shows with like, like,
10s of 1000s of people. But

1305
00:58:20.520 --> 00:58:22.830
here, it's 700 people, and you
know each other. So it's a lot

1306
00:58:22.830 --> 00:58:25.170
more intimate. Yeah. So that's
what's cool about it.

1307
00:58:25.500 --> 00:58:27.090
Sean Murray: Do you think we'll
have more funders come to these

1308
00:58:27.090 --> 00:58:28.230
shows in the future?

1309
00:58:28.230 --> 00:58:30.000
Andrew Altschuler: Yeah, I think
they'll start coming back.

1310
00:58:30.030 --> 00:58:33.330
Because there are a handful that
are here. And myself. I come you

1311
00:58:33.330 --> 00:58:35.970
know with the SEAA, but
obviously part of GRP I think

1312
00:58:35.970 --> 00:58:38.700
guys will start getting into it,
and crossing over. Right? That's

1313
00:58:38.700 --> 00:58:40.890
what we've been talking about
for a while. Right, is we're

1314
00:58:40.890 --> 00:58:42.780
gonna have crossover, you guys
wanted to come down and

1315
00:58:42.780 --> 00:58:45.810
represent merchant cash advance
with the media. And I said,

1316
00:58:45.810 --> 00:58:47.940
Okay, well, we have deBanked.
I'll set up some of my

1317
00:58:47.940 --> 00:58:50.370
colleagues from the Southeast
Acquirers. Yeah. And start

1318
00:58:50.370 --> 00:58:52.440
representing merchant
processing, again, because I

1319
00:58:52.440 --> 00:58:56.100
think there's just so many
really interconnected ways for

1320
00:58:56.100 --> 00:58:58.140
those businesses. And we talked
about that. Right. Right. At the

1321
00:58:58.140 --> 00:59:00.360
beginning, right, is that they
kind of were like a cousins.

1322
00:59:00.390 --> 00:59:02.910
Yeah. And maybe they'll start
getting back together because I

1323
00:59:02.910 --> 00:59:06.420
just think, you know, all the
cash advance ISOs need to start

1324
00:59:06.420 --> 00:59:08.910
looking at merchant processing
again, because it's such a great

1325
00:59:08.910 --> 00:59:10.920
business. It really, it truly
is.

1326
00:59:11.430 --> 00:59:13.830
Sean Murray: I agree. Well,
Andrew, thank you very much for

1327
00:59:13.830 --> 00:59:14.940
being here. Appreciate your
time.

1328
00:59:14.940 --> 00:59:15.600
Andrew Altschuler: My pleasure.
Yeah.

1329
00:59:15.630 --> 00:59:17.490
Sean Murray: You know, we were
we were talking earlier, I was

1330
00:59:17.490 --> 00:59:20.970
talking earlier with Johny about
how the handshakes are. It used

1331
00:59:20.970 --> 00:59:23.310
to be more like, hey how's it
going, but now everyone's so

1332
00:59:23.310 --> 00:59:24.900
desperate for that human
connection.

1333
00:59:24.900 --> 00:59:25.200
Andrew Altschuler: Right.

1334
00:59:25.260 --> 00:59:25.980
Sean Murray: And it's a lot more
like.

1335
00:59:25.980 --> 00:59:27.270
Andrew Altschuler: So we're
gonna get a big hug, right.

1336
00:59:27.330 --> 00:59:27.960
Sean Murray: We're gonna do a
big.

1337
00:59:27.990 --> 00:59:29.580
Andrew Altschuler: We're gonna
do a big hug with the closing.

1338
00:59:29.580 --> 00:59:31.830
Yeah, one more thing I want to
say before the end you and I

1339
00:59:31.830 --> 00:59:34.530
know each other for so many
years. We worked across the

1340
00:59:34.530 --> 00:59:36.960
street, right? When you started
over at MCC and I was an

1341
00:59:37.230 --> 00:59:40.650
AmeriMerchant on Park Avenue
South. Yep. At 32nd street. You

1342
00:59:40.650 --> 00:59:43.740
know, you weren't long after
2008. Right. Was that?

1343
00:59:43.860 --> 00:59:45.540
Sean Murray: As soon as the
funding part started in the

1344
00:59:45.540 --> 00:59:48.030
industry. But you know, I
started it was payments and MCA

1345
00:59:48.030 --> 00:59:48.660
at the same time.

1346
00:59:48.660 --> 00:59:51.060
Andrew Altschuler: It was right
with Stephen and he was they

1347
00:59:51.060 --> 00:59:53.940
were they were first with
Synergy and right when.

1348
00:59:54.120 --> 00:59:55.830
Sean Murray: I was working out
of their office, the Synergy

1349
00:59:55.830 --> 00:59:56.550
office in Queens.

1350
00:59:56.580 --> 00:59:58.080
Andrew Altschuler: Okay, that's
when I started also. Yeah, we

1351
00:59:58.080 --> 01:00:00.870
were sending merchant processing
deals to Synergy cause Synergy

1352
01:00:00.870 --> 01:00:03.390
was splitting the batch. So we
know that each other a long

1353
01:00:03.390 --> 01:00:03.900
time, brother.

1354
01:00:04.080 --> 01:00:04.830
Sean Murray: Good times.

1355
01:00:04.830 --> 01:00:05.850
Andrew Altschuler: Okay, so
we're ready for it, is it.

1356
01:00:06.150 --> 01:00:08.520
Sean Murray: Okay yeah, this is
the official the official. Okay.

1357
01:00:08.520 --> 01:00:10.050
Andrew Altschuler: I'm gonna
give you a little kiss too.

1358
01:00:10.320 --> 01:00:13.710
Sean Murray: Okay, yeah. Yeah,
anything can happen on deBanked

1359
01:00:13.710 --> 01:00:15.030
TV, apparently? Yeah.

1360
01:00:16.590 --> 01:00:19.320
Hello everyone, it's Sean Murray
I'm back again here at deBanked

1361
01:00:19.320 --> 01:00:23.070
TV at the Southeast Acquirers
show today I have a Aviv Baron

1362
01:00:23.100 --> 01:00:25.110
from Direct Payment Group.
Thanks for being here.

1363
01:00:25.140 --> 01:00:26.370
Aviv Baron: Yeah. Thanks for
having me, Sean.

1364
01:00:26.790 --> 01:00:28.590
Sean Murray: No problem. So I
wanted to ask you a little bit

1365
01:00:28.590 --> 01:00:31.650
about what you do. Because my
understanding is that you are in

1366
01:00:31.710 --> 01:00:33.360
the payments industry, is that
right?

1367
01:00:33.570 --> 01:00:36.300
Aviv Baron: Yeah, so we started
Direct Payment Group to

1368
01:00:36.570 --> 01:00:39.330
basically service merchants in
the card not present space, your

1369
01:00:39.330 --> 01:00:42.450
ecommerce stores, businesses in
the middle medical billing

1370
01:00:42.450 --> 01:00:45.390
space, anyone with subscription
sales. So they're generally

1371
01:00:45.660 --> 01:00:49.230
generally exposed to a higher
level of risk, chargebacks and

1372
01:00:49.230 --> 01:00:53.700
refunds. We come in and we give
them a fully integrated solution

1373
01:00:53.700 --> 01:00:57.240
so that they can process their
sales, avoid as many chargebacks

1374
01:00:57.240 --> 01:01:00.180
as possible and overall keep
their merchant accounts happen.

1375
01:01:01.140 --> 01:01:03.930
Sean Murray: What was the
business like for you during the

1376
01:01:03.930 --> 01:01:08.460
pandemic? I imagine there must
have been a lot of activity in

1377
01:01:08.490 --> 01:01:10.860
e-commerce transaction. Is that
right?

1378
01:01:11.040 --> 01:01:13.980
Aviv Baron: Yeah, so a lot of a
lot of spending shifted online.

1379
01:01:14.430 --> 01:01:16.980
One of the first things that we
noticed was that merchants were

1380
01:01:16.980 --> 01:01:20.190
hitting their volume capacity,
and immediately had needs for

1381
01:01:20.520 --> 01:01:23.370
basically accounts that needed
to get upgraded or kind of

1382
01:01:23.370 --> 01:01:26.130
graduate to a higher level of
counts. So we saw a lot of

1383
01:01:26.130 --> 01:01:29.520
business come in from there. We
actually catered primarily to

1384
01:01:29.520 --> 01:01:32.040
the higher risk community. So we
saw a lot of cannabis come in,

1385
01:01:32.310 --> 01:01:36.030
CBD sales, a lot of dropshippers
that needed to get on board. And

1386
01:01:36.300 --> 01:01:37.710
yeah, we were able to serve
them.

1387
01:01:38.520 --> 01:01:41.160
Sean Murray: I have a question
about the cannabis aspect of it.

1388
01:01:41.610 --> 01:01:44.670
Is it like a state by state
thing that you have to worry

1389
01:01:44.670 --> 01:01:47.460
about? Or how do you how do you
approach that whole landscape?

1390
01:01:47.670 --> 01:01:50.220
Aviv Baron: Yeah so that's a
good question. Right now, it's

1391
01:01:50.220 --> 01:01:53.730
kind of split down the middle
between marijuana sales and hemp

1392
01:01:53.730 --> 01:01:57.960
and CBD sales have been CBD,
we're good to go in all in all

1393
01:01:57.960 --> 01:02:01.320
states, so you can sell any type
of products. There are some

1394
01:02:01.320 --> 01:02:04.530
regulations around like the 89.
But in general, hemp and CBD are

1395
01:02:04.530 --> 01:02:08.280
fine with marijuana, since
there's no real card solution

1396
01:02:08.280 --> 01:02:11.640
yet. We're not really playing in
that space. But that is state to

1397
01:02:11.640 --> 01:02:11.940
state.

1398
01:02:12.900 --> 01:02:15.690
Sean Murray: And what's it like
to be back here in person at a

1399
01:02:15.690 --> 01:02:19.410
show? I imagine that you were
probably doing a lot of online

1400
01:02:19.410 --> 01:02:20.850
networking. So.

1401
01:02:21.390 --> 01:02:24.660
Aviv Baron: Yeah, so most of our
most of our prospecting and

1402
01:02:24.660 --> 01:02:28.230
networking has been done online.
So it's been on Zoom. It's been

1403
01:02:28.260 --> 01:02:30.720
really through a lot of social
media platforms. This has been

1404
01:02:30.720 --> 01:02:33.570
great. We're finally back to it
again, to see be in the same

1405
01:02:33.960 --> 01:02:36.930
room as people that kind of
share the same goals and are

1406
01:02:37.140 --> 01:02:40.440
kind of after the same knowledge
that we are. So it's been great.

1407
01:02:40.980 --> 01:02:42.870
Sean Murray: How long have you
worked in the payment space for?

1408
01:02:43.380 --> 01:02:46.320
Aviv Baron: So on and off around
10 years, I took a bit of a

1409
01:02:46.320 --> 01:02:50.220
hiatus to work for a direct
lender for eight years. And I

1410
01:02:50.220 --> 01:02:52.440
stopped doing that around two
years ago to get back into

1411
01:02:53.160 --> 01:02:54.030
payments full time.

1412
01:02:54.720 --> 01:02:56.640
Sean Murray: Well, that's great.
Thank you very much. Appreciate

1413
01:02:56.640 --> 01:03:00.300
your time. And we look forward
to seeing you more at the show.

1414
01:03:00.330 --> 01:03:02.340
Aviv Baron: Yeah, definitely.
Thanks for having us.

1415
01:03:02.730 --> 01:03:04.410
Sean Murray: All right. Thank
you, everybody. Stay tuned for

1416
01:03:04.410 --> 01:03:04.770
more.

1417
01:03:06.690 --> 01:03:08.580
Johny Fernandez: And welcome
back. I'm Johny Fernandez with

1418
01:03:08.580 --> 01:03:12.510
deBanked News. deBanked TV. I'm
here with Sam Greenwald from

1419
01:03:12.510 --> 01:03:14.580
Momentum Business. Sam, thanks
so much for being here.

1420
01:03:14.580 --> 01:03:15.180
Sam Greenwald: Thanks for having
me.

1421
01:03:15.210 --> 01:03:16.830
Johny Fernandez: So a couple of
quick questions, go ahead and

1422
01:03:16.830 --> 01:03:19.500
kind of walk us through in a in
a quick a quick elevator

1423
01:03:19.500 --> 01:03:21.360
sentence, what you guys do.

1424
01:03:21.840 --> 01:03:24.150
Sam Greenwald: All right, so
Momentum Business Capital, we've

1425
01:03:24.150 --> 01:03:28.050
been in the payment space for
about 20 years now. We strictly

1426
01:03:28.050 --> 01:03:30.960
service ISOs, and agents, we
help them monetize their

1427
01:03:30.960 --> 01:03:34.020
portfolio and offer working
capital, we offer it as a one

1428
01:03:34.020 --> 01:03:37.800
stop shop. So most of these guys
here that are attending the show

1429
01:03:37.830 --> 01:03:40.320
are used to signing merchants up
for merchant processing, but

1430
01:03:40.320 --> 01:03:42.720
they're not very familiar with
working capital, where it's a

1431
01:03:42.720 --> 01:03:45.720
hard product for them to start
adding with all the knowledge

1432
01:03:45.720 --> 01:03:48.480
you need to know for merchant
for processing. So they come to

1433
01:03:48.480 --> 01:03:51.510
us as a one stop shop, they send
us the file, we handle it from A

1434
01:03:51.510 --> 01:03:52.290
to Z for them.

1435
01:03:52.470 --> 01:03:54.120
Johny Fernandez: So kind of walk
me through you guys have been in

1436
01:03:54.120 --> 01:03:56.790
the business for 20 years, this
last year, how have you guys

1437
01:03:56.790 --> 01:03:57.810
been able to move forward?

1438
01:03:58.050 --> 01:04:01.290
Sam Greenwald: So it's been a
tricky year for many of us, what

1439
01:04:01.290 --> 01:04:05.400
we've done is we've looked how
we can help first our referral

1440
01:04:05.400 --> 01:04:08.580
partners and our clients so off
the bat, the clients that we're

1441
01:04:08.580 --> 01:04:11.760
having trouble with business, we
help them by alleviating some of

1442
01:04:11.760 --> 01:04:15.540
their payments, the referral
partners, we rolled out the

1443
01:04:15.540 --> 01:04:19.470
ability to offer the PPP
programs, the SBA EIDL is in

1444
01:04:19.470 --> 01:04:22.260
right now the restaurant
revitalization program. So we're

1445
01:04:22.260 --> 01:04:25.110
there to help the merchants get
the right capital that's

1446
01:04:25.110 --> 01:04:26.130
available out for them.

1447
01:04:26.820 --> 01:04:29.040
Johny Fernandez: So being in an
event like this, I mean, it's

1448
01:04:29.040 --> 01:04:32.940
the first time everyone is kind
of into like a normal space. As

1449
01:04:32.940 --> 01:04:34.740
a business. What does this do
for you guys?

1450
01:04:35.250 --> 01:04:38.010
Sam Greenwald: It puts an
awareness out there that you

1451
01:04:38.010 --> 01:04:40.980
know, there is opportunity to
help businesses now come back

1452
01:04:41.190 --> 01:04:44.910
and perform, come back, get the
capital they need to grow. The

1453
01:04:44.910 --> 01:04:47.850
PPP has been great. It's helped
a lot of them PP around to them

1454
01:04:47.850 --> 01:04:51.930
good and help them you know, get
back into business, the SBA EIDL

1455
01:04:52.170 --> 01:04:55.590
many of the smaller businesses
have, they're scared to go ahead

1456
01:04:55.590 --> 01:04:57.780
and do it. So we've simplified
the process. We have it down

1457
01:04:57.780 --> 01:05:01.530
pat, so we can help them the
idea is is that once they're

1458
01:05:01.530 --> 01:05:03.870
done with this capital, and they
need additional capital they

1459
01:05:03.870 --> 01:05:06.450
know where to go to, that's what
the business is directly for the

1460
01:05:06.450 --> 01:05:10.050
referral partners we're always
looking for new ways to make

1461
01:05:10.080 --> 01:05:13.350
extra income. It's a very
competitive market, the cost of

1462
01:05:13.350 --> 01:05:16.770
processing this marginalized
just changes in way you can

1463
01:05:16.770 --> 01:05:19.950
offer services like cash
discount, so you save the money

1464
01:05:19.950 --> 01:05:22.680
to the merchant, but for the
agent for them to make

1465
01:05:22.680 --> 01:05:24.810
additional revenue, they need
something like us where we

1466
01:05:24.810 --> 01:05:27.750
simplify it for them. So instead
of them having to go out and you

1467
01:05:27.750 --> 01:05:30.450
know, sign up with like 20
different lenders to sign with

1468
01:05:30.450 --> 01:05:33.600
one Momentum, Business Capital,
and we handle it for them from A

1469
01:05:33.600 --> 01:05:34.020
to Z.

1470
01:05:34.350 --> 01:05:36.450
Sean Murray: So let's talk a
little bit about the future.

1471
01:05:36.450 --> 01:05:39.660
What can you share in regards to
future plans, and just how you

1472
01:05:39.660 --> 01:05:43.230
guys have adjusted into this new
era of the business.

1473
01:05:43.560 --> 01:05:46.830
Sam Greenwald: To future plans?
Honestly, it's like, you know,

1474
01:05:46.830 --> 01:05:49.890
it's been changing from day to
day, because what we predicted a

1475
01:05:49.890 --> 01:05:52.650
few months ago has shifted even
till today. So this is the first

1476
01:05:52.650 --> 01:05:57.120
show after, you know, a while
back in person. So the the

1477
01:05:57.120 --> 01:06:00.300
future right now is to really,
really focus hyper focus on the

1478
01:06:00.330 --> 01:06:03.960
agents to show them the
simplicity of how to offer them

1479
01:06:03.960 --> 01:06:06.870
working capital, most of the
agents here, were telling us

1480
01:06:06.870 --> 01:06:09.840
how, yeah, our merchants, are
not asking for it. Why, because

1481
01:06:09.960 --> 01:06:12.120
they're being serviced
elsewhere, they don't realize

1482
01:06:12.300 --> 01:06:14.700
that the merchants are taking
it. So we want to educate them,

1483
01:06:15.000 --> 01:06:17.430
that it's another way for them
to help their merchants by

1484
01:06:17.430 --> 01:06:19.320
working with somebody that has
the best interest for the

1485
01:06:19.320 --> 01:06:22.560
merchants and for the agents.
And so the message is what we're

1486
01:06:22.560 --> 01:06:25.500
gonna focus on right now is for
the ISO market, you know, there

1487
01:06:25.500 --> 01:06:28.320
is an opportunity go out there
for offer working capital, let

1488
01:06:28.320 --> 01:06:31.350
your merchants know that we're
there, so we can help them out.

1489
01:06:31.980 --> 01:06:35.190
Pretty much that's been the
takeaway we got from the past 24

1490
01:06:35.190 --> 01:06:35.670
hours.

1491
01:06:35.880 --> 01:06:37.740
Johny Fernandez: So last
question for people that are not

1492
01:06:37.740 --> 01:06:39.870
here, because maybe they
couldn't make it or they're a

1493
01:06:39.870 --> 01:06:42.690
little hesitant to gather in an
area where there's so many

1494
01:06:42.690 --> 01:06:45.510
people, what would you say to
them about just this comeback

1495
01:06:45.510 --> 01:06:47.190
that the business is in right
now.

1496
01:06:47.580 --> 01:06:50.100
Sam Greenwald: First of all,
this is Florida. I mean, this is

1497
01:06:50.100 --> 01:06:52.830
an amazing place to be right
now, the show has been a

1498
01:06:52.860 --> 01:06:56.250
phenomenal success, I think it's
been bigger than expected as you

1499
01:06:56.250 --> 01:06:59.850
guys can aware of it. I think
900 people here at the show,

1500
01:07:00.390 --> 01:07:02.670
it's been great. I think it's
time people are excited to be

1501
01:07:02.670 --> 01:07:05.700
back in person, they're excited
to brainstorm with each other.

1502
01:07:05.880 --> 01:07:08.610
And together realize that, you
know, hey, we can get out of

1503
01:07:08.610 --> 01:07:10.980
this, we're gonna get out of
this. And I think that, you

1504
01:07:10.980 --> 01:07:12.780
know, the next show, I think is
the Midwest Acquirers

1505
01:07:12.780 --> 01:07:16.260
Association for the payment
space. It's gonna be in Chicago,

1506
01:07:16.290 --> 01:07:18.660
that's always a fun spot, if
you're able to come and make it

1507
01:07:18.660 --> 01:07:22.650
to those shows, I highly
recommend it. And overall, I

1508
01:07:22.650 --> 01:07:25.380
think that I'm happy that we
came to exhibit here.

1509
01:07:25.830 --> 01:07:27.540
Johny Fernandez: So thanks so
much, Sam, for being with us.

1510
01:07:28.170 --> 01:07:30.540
And of course, if you guys want
to continue to tune in, we'll be

1511
01:07:30.540 --> 01:07:33.660
talking to different people,
different business owners in the

1512
01:07:33.660 --> 01:07:35.130
industry. So tune in.

1513
01:07:35.160 --> 01:07:37.590
Sean Murray: Welcome back to
deBanked. TV. I'm here today

1514
01:07:37.590 --> 01:07:40.470
with another special guest, I
have Chris Dryden, who is the

1515
01:07:40.530 --> 01:07:43.770
managing partner of Global Legal
Law Firm. Thank you for being

1516
01:07:43.770 --> 01:07:44.340
here, Chris.

1517
01:07:44.340 --> 01:07:45.690
Chris Dryden: Thanks a lot,
Sean, thanks for having me.

1518
01:07:45.720 --> 01:07:48.360
Sean Murray: No problem. So
what's it like being back at a

1519
01:07:48.360 --> 01:07:49.470
show in person?

1520
01:07:49.650 --> 01:07:51.570
Chris Dryden: I have to say
being here is, you know,

1521
01:07:51.570 --> 01:07:55.470
normally it's a labor of love
trying to mix work with coming

1522
01:07:55.470 --> 01:07:58.170
to a show staying focused with
what you're doing, and then

1523
01:07:58.380 --> 01:08:01.950
manage all the marketing aspect
of things. But then, you know,

1524
01:08:01.980 --> 01:08:04.140
being off for a year, it's been
really nice to come and

1525
01:08:04.140 --> 01:08:06.540
reconnect, see what's going on
in the industry, especially

1526
01:08:06.540 --> 01:08:07.650
after the pandemic and.

1527
01:08:07.680 --> 01:08:08.010
Sean Murray: Yeah.

1528
01:08:08.010 --> 01:08:10.110
Chris Dryden: See if things have
changed, or if you know, kind of

1529
01:08:10.110 --> 01:08:12.660
the same, but it's been, it's
been enjoyable just to see face

1530
01:08:12.660 --> 01:08:13.920
to face with some of these
folks.

1531
01:08:13.950 --> 01:08:15.600
Sean Murray: Now. It's my
understanding that you came here

1532
01:08:15.600 --> 01:08:16.620
from California.

1533
01:08:16.649 --> 01:08:17.129
Chris Dryden: I did.

1534
01:08:17.160 --> 01:08:19.410
Sean Murray: Okay. And you're a
San Diego native. Is that right?

1535
01:08:19.410 --> 01:08:19.950
Okay.

1536
01:08:19.979 --> 01:08:22.979
Chris Dryden: Yeah. I moved
there when I was one, but I've

1537
01:08:22.979 --> 01:08:23.789
been there ever since.

1538
01:08:23.819 --> 01:08:24.269
Sean Murray: Okay.

1539
01:08:24.540 --> 01:08:27.330
Chris Dryden: Pretty nice place
except for school, but get to

1540
01:08:27.330 --> 01:08:30.660
enjoy some sunshine and live
close to the ocean. But, you

1541
01:08:30.660 --> 01:08:32.340
know, coming to Florida is not
half bad either.

1542
01:08:32.790 --> 01:08:35.250
Sean Murray: Yeah, well, yeah,
no, and not for me either, you

1543
01:08:35.250 --> 01:08:37.500
know, coming from New Jersey and
New York area.

1544
01:08:37.529 --> 01:08:37.949
Chris Dryden: Yeah.

1545
01:08:38.250 --> 01:08:40.830
Sean Murray: So tell me a little
bit about global legal law firm.

1546
01:08:40.860 --> 01:08:42.360
What type of law do you do?

1547
01:08:42.600 --> 01:08:44.610
Chris Dryden: So primarily,
we're in the payment space.

1548
01:08:45.270 --> 01:08:50.130
We've been in the industry, kind
of backed into it about 2008 had

1549
01:08:50.130 --> 01:08:54.840
an ISO client approach me to do
some work for him, ended up able

1550
01:08:54.840 --> 01:08:58.020
to start the firm from it. And
as I learned the industry, we

1551
01:08:58.020 --> 01:09:01.350
we're able to kind of branch
out, find more areas where we

1552
01:09:01.350 --> 01:09:05.160
could service, you know, whether
it's ISOs, agents, third party

1553
01:09:05.310 --> 01:09:09.600
processors, wholesale ISOs, and
eventually all the way through

1554
01:09:09.600 --> 01:09:11.190
this last year, a lot of
merchant work.

1555
01:09:11.220 --> 01:09:14.160
Sean Murray: Sure. When you say
service them, what kind of

1556
01:09:14.160 --> 01:09:15.480
service are you providing?

1557
01:09:15.510 --> 01:09:17.970
Chris Dryden: So that's a good
question. I initially, you know,

1558
01:09:17.970 --> 01:09:20.670
did a lot of contract work. We
were kind of like an outside

1559
01:09:20.670 --> 01:09:23.400
general counsel for just regular
things that a business would

1560
01:09:23.400 --> 01:09:26.700
experience but then got very
much more payments specific. So

1561
01:09:26.700 --> 01:09:31.980
we do contract review, contract
drafting, negotiations with your

1562
01:09:31.980 --> 01:09:36.600
processor, either upstream or
agent downstream. Do a lot of

1563
01:09:36.600 --> 01:09:39.540
M&A work. So that type of
transaction, and then we're one

1564
01:09:39.540 --> 01:09:42.660
of the few firms that really
specialize in litigation. So if

1565
01:09:42.660 --> 01:09:46.080
litigation arises somewhere,
we're fully equipped to handle

1566
01:09:46.080 --> 01:09:48.690
it. So my partner and I, James
Huber, we're really

1567
01:09:48.690 --> 01:09:51.090
knowledgeable on payments. And
then we have four other

1568
01:09:51.090 --> 01:09:54.540
litigators in our office that
work on litigation related

1569
01:09:54.540 --> 01:09:57.480
items, whether it be something
very simple to a breach of

1570
01:09:57.480 --> 01:10:01.050
contract dispute, to regulatory
enforcement defense, it really

1571
01:10:01.080 --> 01:10:03.900
you know, whatever kind of comes
through, but anything that

1572
01:10:03.900 --> 01:10:06.270
touches the payment processing
world and the merchant world.

1573
01:10:07.020 --> 01:10:09.900
Sean Murray: Did you see more of
any of that type of work during

1574
01:10:09.900 --> 01:10:13.080
the pandemic? Did any any one
area of work increase or any

1575
01:10:13.080 --> 01:10:14.940
area of work kinda decrease?

1576
01:10:15.030 --> 01:10:16.770
Chris Dryden: Yeah. So it was
interesting. Like, initially,

1577
01:10:16.770 --> 01:10:19.770
everybody went into like, just
stress mode, right? I mean,

1578
01:10:20.010 --> 01:10:23.910
there were a lot of people not
knowing what was going to

1579
01:10:23.910 --> 01:10:27.210
happen, because we were on
lockdown for so long, brick and

1580
01:10:27.210 --> 01:10:29.940
mortar dried up, even with more
money coming through from the

1581
01:10:29.940 --> 01:10:32.100
government, it didn't
necessarily mean that things

1582
01:10:32.100 --> 01:10:35.700
were gonna be okay, going
forward. But what we really saw

1583
01:10:35.700 --> 01:10:39.630
was that, as things started to
just kind of gradually ramp back

1584
01:10:39.630 --> 01:10:42.660
up, what happened more than
anything else was the shift of

1585
01:10:42.660 --> 01:10:44.940
the merchants having to go
online to maintain their

1586
01:10:44.940 --> 01:10:47.850
existing business. And so now
you have people that never had

1587
01:10:47.850 --> 01:10:51.450
really a e-commerce presence or
an online presence, where that

1588
01:10:51.450 --> 01:10:54.810
became a large portion of their
business. And in doing that, the

1589
01:10:54.810 --> 01:10:57.750
processors weren't necessarily
ready to underwrite that type of

1590
01:10:57.750 --> 01:11:01.440
business. And so when you have
merchants that are unfamiliar

1591
01:11:01.440 --> 01:11:05.370
with how to actually process or
accept payment, at a remote, you

1592
01:11:05.370 --> 01:11:08.640
know, distance, it caused some
problems, you know, so we've

1593
01:11:08.640 --> 01:11:10.860
done a lot of merchant work
where you've had match

1594
01:11:10.860 --> 01:11:13.170
placement, or just termination
of agreements. And then

1595
01:11:13.170 --> 01:11:16.590
residuals being held, but not
really good reasons for these

1596
01:11:16.590 --> 01:11:19.110
things happening. And so we've
been representing a lot more

1597
01:11:19.110 --> 01:11:22.470
merchants over the last six to
12 months just to remedy issues

1598
01:11:22.470 --> 01:11:25.350
that have come from having to go
online to actually run their

1599
01:11:25.350 --> 01:11:25.800
business.

1600
01:11:25.800 --> 01:11:27.210
Sean Murray: Yeah, that's
interesting. You know, I've

1601
01:11:27.210 --> 01:11:31.800
talked about some risk earlier
on on the street here. And I was

1602
01:11:31.830 --> 01:11:35.400
talking about how processors
have to underwrite risks, just

1603
01:11:35.400 --> 01:11:38.550
like a lender would have to
underwrite a loan. But I you

1604
01:11:38.550 --> 01:11:41.580
know hadn't thought of how that
might affect a merchant during

1605
01:11:41.580 --> 01:11:45.180
the pandemic, because the
processor is shifting the type

1606
01:11:45.180 --> 01:11:48.210
of you know transactions that
they originally underwrote that

1607
01:11:48.210 --> 01:11:48.990
merchant for.

1608
01:11:49.020 --> 01:11:51.450
Chris Dryden: Yeah, well, it's
not even necessarily that the

1609
01:11:51.480 --> 01:11:54.660
transactions are shifting, but
it's the fact that the way that

1610
01:11:54.660 --> 01:11:56.790
they're doing things is
shifting, for instance, you

1611
01:11:56.790 --> 01:11:58.890
know, a lot, a lot of home
improvement happened during the

1612
01:11:58.890 --> 01:12:00.990
pandemic, people started putting
a lot more money into their

1613
01:12:00.990 --> 01:12:04.860
house, we had a guy that came to
us, he's a pool supplies guy,

1614
01:12:05.160 --> 01:12:08.520
but all of his business where he
had a storefront before had gone

1615
01:12:08.520 --> 01:12:11.340
to remote. And so he was doing
this here, I'm ordering from my

1616
01:12:11.340 --> 01:12:14.400
distributor, I'm getting things
in, I'm, I'm having him go out

1617
01:12:15.000 --> 01:12:18.450
and invoicing. He was having to
adjust to how he was doing

1618
01:12:18.450 --> 01:12:22.230
things. But all of a sudden, his
online card not present volume

1619
01:12:22.230 --> 01:12:25.890
went from 10% of his business to
90%. And then you have a

1620
01:12:25.890 --> 01:12:30.300
processor, it's not necessarily
looking at oh okay, well, what

1621
01:12:30.300 --> 01:12:35.520
is really going on? Excuse me.
And so in that regard, you know,

1622
01:12:35.520 --> 01:12:38.850
you have that aspect of, well,
now, we have to re underwrite

1623
01:12:38.850 --> 01:12:40.920
this guy for a different type of
business.

1624
01:12:41.070 --> 01:12:44.340
Sean Murray: Sure, yeah, I can,
I can, you know, had not even

1625
01:12:44.340 --> 01:12:47.520
thought of that, that aspect of
it of the processor having

1626
01:12:47.520 --> 01:12:49.980
underwritten the merchant for
one way, and then they go from

1627
01:12:49.980 --> 01:12:53.490
like, you know, 10% key entered
to like, you know, 90, 90%,

1628
01:12:54.660 --> 01:12:57.570
100%. Yeah. Right, I guess,
especially in the case of the

1629
01:12:57.570 --> 01:13:00.810
pandemic, where they couldn't do
any sales in person. And that's

1630
01:13:00.840 --> 01:13:03.570
certainly a big part of it.
Earlier today, you were on a

1631
01:13:03.570 --> 01:13:07.230
panel. And there was a lot of
different topics of discussion

1632
01:13:07.230 --> 01:13:09.330
and one of them was like, CB,
CB.

1633
01:13:09.330 --> 01:13:09.810
Chris Dryden: CBD?

1634
01:13:09.840 --> 01:13:11.700
Sean Murray: Yeah, like what's
happening in like that area?

1635
01:13:14.100 --> 01:13:15.540
Chris Dryden: That's a tough,
that's a tough answer.

1636
01:13:15.570 --> 01:13:15.840
Sean Murray: Yeah.

1637
01:13:16.410 --> 01:13:18.150
Chris Dryden: So you got a lot
of agencies that are looking at

1638
01:13:18.150 --> 01:13:21.030
this space, you know, CBDs gonna
happen, it's going to happen in

1639
01:13:21.030 --> 01:13:24.690
some way, shape, or form. But,
you know, there's the aspect of,

1640
01:13:24.720 --> 01:13:27.750
you know, is it a medicinal
item. So you've got, you know,

1641
01:13:27.750 --> 01:13:30.870
it being proffered out as a
medicinal thing. So now you got

1642
01:13:30.870 --> 01:13:34.740
the FDA looking at it used to
be, you know, marijuana is

1643
01:13:34.740 --> 01:13:38.760
illegal, you know, schedule one
drugs, the DEA looks at it. Then

1644
01:13:38.760 --> 01:13:41.370
you have CBD, where there the
farm bill comes out from the

1645
01:13:41.370 --> 01:13:44.430
FDA, and it says, oh, well, you
can extract certain things, you

1646
01:13:44.430 --> 01:13:47.010
know, so now you can have CBD
products, but then that's being

1647
01:13:47.010 --> 01:13:52.020
treated differently from states
from marijuana laws. And so in

1648
01:13:52.020 --> 01:13:58.560
commerce, it's going to happen,
thank you. In commerce, it's

1649
01:13:58.560 --> 01:14:01.050
gonna happen, there's no way to
stop the force of what's going

1650
01:14:01.050 --> 01:14:03.810
to take place. It's the fact
that they're gonna have to

1651
01:14:03.810 --> 01:14:06.300
figure it out how to standardize
it. And until that happens,

1652
01:14:06.300 --> 01:14:08.070
you're gonna have all these
competing factions, whether it

1653
01:14:08.070 --> 01:14:11.880
be the federal government versus
the states, or what's legal,

1654
01:14:11.880 --> 01:14:15.960
what's not legal, you know, you
know, people trying to find a

1655
01:14:15.960 --> 01:14:20.430
way into the marketplace by you
know, extracting a different

1656
01:14:20.430 --> 01:14:24.600
type of the marijuana plant or
the cannabis plant to be able to

1657
01:14:24.600 --> 01:14:28.350
like actually sell that off is
whatever it's gonna be. So it's

1658
01:14:28.350 --> 01:14:31.590
been very interesting to see how
there's this discord.

1659
01:14:32.070 --> 01:14:32.520
Sean Murray: Sure.

1660
01:14:32.910 --> 01:14:35.460
Chris Dryden: Excuse me, how
there's this discord between

1661
01:14:35.460 --> 01:14:39.240
these things. So until they find
some standardization. So for us,

1662
01:14:39.270 --> 01:14:43.860
what we see is just a really
hard product to place. You know,

1663
01:14:43.860 --> 01:14:46.260
you have people that out are out
there, and then you have bad

1664
01:14:46.260 --> 01:14:48.360
actors that are out there that
are you know, potentially

1665
01:14:48.360 --> 01:14:51.990
calling it magic or a miracle
and so it's hard for the

1666
01:14:51.990 --> 01:14:54.690
processors and the underwriters
in addition to the regulatory

1667
01:14:54.690 --> 01:14:57.630
work to look at it and go oh,
okay, is are they really selling

1668
01:14:57.630 --> 01:14:59.640
something that they're supposed
to be selling, you know, things

1669
01:14:59.640 --> 01:15:03.030
along that that line. So CBD is
just one of these things that

1670
01:15:03.030 --> 01:15:05.670
has a really high margin because
it has a high risk aspect.

1671
01:15:05.670 --> 01:15:07.830
Sean Murray: Yeah, you were
talking to me off camera about

1672
01:15:08.160 --> 01:15:11.760
about, you know, high risk like,
like what what's happening

1673
01:15:11.760 --> 01:15:14.940
within like the high risk space
of payments, is there any any

1674
01:15:14.940 --> 01:15:15.690
particular?

1675
01:15:15.990 --> 01:15:17.700
Chris Dryden: It's it's so
there's hard to place.

1676
01:15:18.180 --> 01:15:20.310
Traditionally there has been
hard to place merchants, whether

1677
01:15:20.310 --> 01:15:26.340
it's gaming, or it's adult, or
nutraceuticals, even anything

1678
01:15:26.340 --> 01:15:29.820
where there's a higher
possibility of a chargeback,

1679
01:15:29.820 --> 01:15:32.730
just because it's at a distance,
you know, people are making, you

1680
01:15:32.730 --> 01:15:35.550
know, certain claims or
representations about the

1681
01:15:35.550 --> 01:15:40.140
efficacy of a product or this or
that. I think a lot of things

1682
01:15:40.140 --> 01:15:43.290
that are happening in that space
is just because it's a high

1683
01:15:43.290 --> 01:15:46.110
margin for high risk when you
have a hard to place product,

1684
01:15:46.110 --> 01:15:48.420
like we were talking about
earlier. If you don't have

1685
01:15:48.420 --> 01:15:49.890
processing, you really don't
have business.

1686
01:15:49.890 --> 01:15:50.190
Sean Murray: Right.

1687
01:15:50.220 --> 01:15:52.980
Chris Dryden: So if you don't
have processing, then, you know,

1688
01:15:52.980 --> 01:15:55.350
essentially, do you even have
property are an opportunity to

1689
01:15:55.350 --> 01:15:58.500
succeed under the American
dream, as we so call it. And so

1690
01:15:58.500 --> 01:16:00.300
when people are looking for
processing, they're looking to

1691
01:16:00.300 --> 01:16:03.300
pay more, which means that the
processors can charge more,

1692
01:16:03.540 --> 01:16:06.090
there can be more of a markup
for the agents. So anything

1693
01:16:06.090 --> 01:16:07.860
that's in high risk, where
people are having an issue,

1694
01:16:07.860 --> 01:16:10.680
trying to find a home for it,
you're just automatically gonna

1695
01:16:10.680 --> 01:16:11.670
see more interest in it.

1696
01:16:11.790 --> 01:16:14.700
Sean Murray: Okay, I can
understand that. I think you

1697
01:16:14.730 --> 01:16:18.630
mentioned that you also do some
collections work in the working

1698
01:16:18.630 --> 01:16:20.370
capital space, as well.

1699
01:16:20.400 --> 01:16:22.350
Chris Dryden: We do we have a
couple partners in working

1700
01:16:22.350 --> 01:16:26.370
capital, we're, whether it's an
MCA or a traditional commercial

1701
01:16:26.370 --> 01:16:28.980
loan, sometimes a factoring
agreement, but they're a little

1702
01:16:28.980 --> 01:16:32.940
bit more complex. You know, if
there's a default, and they

1703
01:16:32.940 --> 01:16:35.910
can't do something pre
litigation, in certain states,

1704
01:16:35.910 --> 01:16:38.760
they farm it out to us. And we
go ahead and do collections

1705
01:16:38.760 --> 01:16:41.340
litigation, getting the
judgments, the easy part,

1706
01:16:41.340 --> 01:16:43.380
getting the money is the more
difficult part, but we have a

1707
01:16:43.380 --> 01:16:47.730
very systematic process that we
follow with a really experienced

1708
01:16:47.730 --> 01:16:50.940
staff. And so we're in
California, Oregon, Washington,

1709
01:16:50.940 --> 01:16:53.670
traditionally, we do a couple of
other states. But you know,

1710
01:16:53.670 --> 01:16:55.620
we've been doing that for about
five, six years. And it's just

1711
01:16:55.620 --> 01:16:58.680
part of what we do. It's just a
got my own little unit or team

1712
01:16:58.680 --> 01:17:01.710
within the law firm that handles
it. And so, you know, we just

1713
01:17:01.710 --> 01:17:03.030
try to collect money for you
guys.

1714
01:17:03.120 --> 01:17:03.660
Sean Murray: Nice.

1715
01:17:03.660 --> 01:17:04.050
Chris Dryden: Yeah.

1716
01:17:04.080 --> 01:17:05.520
Sean Murray: I'm sure everyone's
happy about that.

1717
01:17:05.550 --> 01:17:07.860
Chris Dryden: Most of the time,
most the time, you know, a lot

1718
01:17:07.860 --> 01:17:09.900
of times it's something that
happens down the road, like I

1719
01:17:09.900 --> 01:17:13.050
was discussing with you, where
we we get a judgment lien, and

1720
01:17:13.170 --> 01:17:15.240
you know we place it down, and
then somebody wants to actually

1721
01:17:15.240 --> 01:17:17.910
refinance a property that
they're still holding on to and

1722
01:17:18.150 --> 01:17:20.970
it's appreciated. But. Yeah.
Ultimately, you know, sometimes

1723
01:17:20.970 --> 01:17:23.430
it takes a little while, but we
just tried to remain consistent

1724
01:17:23.430 --> 01:17:26.580
in our efforts, you know, try to
find any property that we can

1725
01:17:26.580 --> 01:17:30.480
attach to and keep pushing the
paper as much as possible once

1726
01:17:30.480 --> 01:17:30.990
we get it.

1727
01:17:31.140 --> 01:17:33.870
Sean Murray: Yeah, I think that
gets lost on some companies that

1728
01:17:33.900 --> 01:17:37.320
they want to collect on what's
outstanding, immediately. Right.

1729
01:17:37.320 --> 01:17:41.280
And they don't realize that it
could be a waiting game, that it

1730
01:17:41.280 --> 01:17:42.150
will happen eventually.

1731
01:17:42.150 --> 01:17:44.730
Chris Dryden: It's a long game.
Yeah. There is a short term

1732
01:17:44.730 --> 01:17:47.460
aspect to it. I think if you can
hit it while it's hot, you have

1733
01:17:47.460 --> 01:17:50.010
a better chance, at least in the
immediate. Yeah. But once it

1734
01:17:50.010 --> 01:17:53.850
gets past like, what, 60, 90
days? Yeah. I'm just in it for

1735
01:17:53.850 --> 01:17:56.730
the long haul. And maybe I got a
vacation later on. Because we

1736
01:17:56.730 --> 01:17:57.510
hit something big.

1737
01:17:57.510 --> 01:18:00.270
Sean Murray: Yeah. Where would
you go on vacation? You're from

1738
01:18:00.270 --> 01:18:01.860
San Diego, what's vacation for
you?

1739
01:18:02.610 --> 01:18:04.320
Chris Dryden: Next place I want
to go is Colombia.

1740
01:18:04.410 --> 01:18:04.920
Sean Murray: Okay.

1741
01:18:04.980 --> 01:18:06.960
Chris Dryden: I've been there
once before. And it's a

1742
01:18:06.960 --> 01:18:10.530
beautiful country and it's 310
round trip right now from LAX. I

1743
01:18:11.100 --> 01:18:13.860
figured maybe there or always
wanted to go to New Zealand and

1744
01:18:13.860 --> 01:18:16.290
Australia. So those are on my
bucket list.

1745
01:18:16.320 --> 01:18:18.330
Sean Murray: Okay. Well, I think
you know, they're gonna open

1746
01:18:18.330 --> 01:18:20.790
back up soon, if they're not
open already.

1747
01:18:20.820 --> 01:18:21.390
Chris Dryden: I hope so.

1748
01:18:21.390 --> 01:18:21.780
Sean Murray: Yeah.

1749
01:18:21.840 --> 01:18:23.550
Chris Dryden: I hope just like
us, I hope that we're open as

1750
01:18:23.550 --> 01:18:24.780
soon as we can possibly can be.

1751
01:18:25.830 --> 01:18:27.960
Sean Murray: My last question
for you is, how has the show

1752
01:18:27.960 --> 01:18:31.140
been for you? It's the end of
the second day, it's almost it's

1753
01:18:31.140 --> 01:18:33.690
almost over. You know, what's
been the takeaway for you here?

1754
01:18:34.260 --> 01:18:36.660
Chris Dryden: Oh, I think the
take it the biggest takeaway is,

1755
01:18:36.660 --> 01:18:39.420
is that, even though we've gone
through quite a bit of an

1756
01:18:39.420 --> 01:18:42.660
adjustment, it's still the same
thing. But I think if there's

1757
01:18:42.660 --> 01:18:45.150
one thing that I would focus on,
and that I would talk to the

1758
01:18:45.150 --> 01:18:49.680
people in payments about, it's
just that when I first got into

1759
01:18:49.680 --> 01:18:52.440
payments, it was sort of like,
here, it's one size fits all.

1760
01:18:52.920 --> 01:18:56.190
And as things get more dynamic
in the payment space, what I've

1761
01:18:56.190 --> 01:18:59.160
noticed more and more is that
you really have to look at your

1762
01:18:59.160 --> 01:19:03.030
merchant and figure out, what's
their value add? How can I

1763
01:19:03.030 --> 01:19:05.850
really help them like and it
might not be one solution, it

1764
01:19:05.850 --> 01:19:09.720
might be two or three solutions
where you know, I have a client,

1765
01:19:09.750 --> 01:19:12.750
I can't really say who they are,
but they do surcharging. And

1766
01:19:12.750 --> 01:19:15.330
they've gotten a lot of
institutional players that are

1767
01:19:15.330 --> 01:19:18.570
now doing surcharging for credit
cards where they have a program

1768
01:19:18.840 --> 01:19:22.470
where they're able to service
them. And now we've gotten away

1769
01:19:22.470 --> 01:19:25.680
from the traditional check, and
they're actually having no cost

1770
01:19:25.680 --> 01:19:28.710
associated with it, because the
surcharge eats up the

1771
01:19:28.710 --> 01:19:31.320
interchange fee. And then
there's still profit for our

1772
01:19:31.320 --> 01:19:35.550
clients. And so they went out
and they developed a technology

1773
01:19:35.550 --> 01:19:38.940
that really focused on a certain
industry or sector. And now

1774
01:19:38.940 --> 01:19:41.610
they've, you know, the sky's the
limit if they can get all these

1775
01:19:41.610 --> 01:19:45.000
institutions because it's super
high volume. And so I think if

1776
01:19:45.000 --> 01:19:47.700
you can look at the merchant
base that you're you know trying

1777
01:19:47.700 --> 01:19:52.170
to service or sign, I think if
you can see where their value

1778
01:19:52.170 --> 01:19:55.290
ads are, there's so many payment
processing options out there.

1779
01:19:55.500 --> 01:19:58.590
You can offer them a segmented
like solution that's not just

1780
01:19:58.590 --> 01:19:59.670
you know, singular.

1781
01:19:59.760 --> 01:20:02.250
Sean Murray: Okay. Well, I
appreciate your time. Thank you

1782
01:20:02.250 --> 01:20:03.120
so much for being here.

1783
01:20:03.120 --> 01:20:03.930
Chris Dryden: Appreciate yours.

1784
01:20:04.140 --> 01:20:07.140
Sean Murray: That was that was
Chris Dryden from Global Legal

1785
01:20:07.170 --> 01:20:08.760
Law Firm. Thank you very much.

1786
01:20:08.820 --> 01:20:09.480
Chris Dryden: Have a good day.

1787
01:20:10.140 --> 01:20:11.640
Johny Fernandez: Hey you guys,
welcome back. I'm Johny

1788
01:20:11.640 --> 01:20:15.060
Fernandez and I'm here with
Garima Shah from Bill Biller

1789
01:20:15.060 --> 01:20:18.060
Genie. She is the president. So
Garima thanks so much for being

1790
01:20:18.060 --> 01:20:18.270
with us.

1791
01:20:18.270 --> 01:20:18.930
Garima Shah: Thanks for having
us.

1792
01:20:18.960 --> 01:20:20.970
Johny Fernandez: No problem. So
a couple of quick questions. I

1793
01:20:20.970 --> 01:20:23.700
mean, you guys are here. You
know, we're in person kind of

1794
01:20:23.700 --> 01:20:27.150
walk me through what you're
thinking as a president to see

1795
01:20:27.180 --> 01:20:28.710
the business back in to full
swing.

1796
01:20:28.710 --> 01:20:31.830
Garima Shah: Oh my god it is so
exciting to have people back

1797
01:20:32.010 --> 01:20:34.680
face to face not covering half
their mouths, you don't actually

1798
01:20:34.680 --> 01:20:36.600
know if they're like hating
everything you say, because you

1799
01:20:36.600 --> 01:20:39.330
can't see the rest of their
facial expressions. It's been so

1800
01:20:39.330 --> 01:20:42.360
nice to just have the face to
face interaction and have such a

1801
01:20:42.360 --> 01:20:44.940
big show. I mean, normally,
normally Southeast Acquirers is

1802
01:20:44.940 --> 01:20:47.610
not a very large show, to have
this kind of turnout, I think it

1803
01:20:47.610 --> 01:20:49.590
just shows that people were
waiting for it and really

1804
01:20:49.590 --> 01:20:50.100
wanting it.

1805
01:20:50.220 --> 01:20:53.520
Sean Murray: So when we spoke
with the CEO, Tom, you know, we

1806
01:20:53.520 --> 01:20:56.490
spoke with him earlier last
year, he kind of walked us

1807
01:20:56.490 --> 01:20:59.430
through kind of some of the
changes. So now can we get an

1808
01:20:59.430 --> 01:21:02.700
updated version of what's going
on? Now that we're pretty much

1809
01:21:02.700 --> 01:21:04.500
six, seven months into 2021.

1810
01:21:04.950 --> 01:21:09.120
Garima Shah: So 2021 has been a
very much breakout year for us,

1811
01:21:09.360 --> 01:21:12.990
we were able to close our seed
round of funding. And our lead

1812
01:21:12.990 --> 01:21:16.950
investor is Henry Heldgeson,
which former chi n merchant

1813
01:21:16.950 --> 01:21:22.110
warehouse Spain, he is a huge,
huge, huge blessing that he

1814
01:21:22.110 --> 01:21:24.480
where he was able to be our lead
investor, we have quite a few

1815
01:21:24.480 --> 01:21:28.140
other investors from various
large processors as well as

1816
01:21:28.140 --> 01:21:30.480
investment bankers. So we're
really, really excited about

1817
01:21:30.480 --> 01:21:33.750
that and we're using that seed
round to really fund and fuel

1818
01:21:33.750 --> 01:21:36.870
our growth, we've seen a big
influx in partnerships come

1819
01:21:36.870 --> 01:21:40.500
through with various banks,
processors, channel partners, so

1820
01:21:40.500 --> 01:21:42.180
we're really excited. It's been
a great year so far.

1821
01:21:42.210 --> 01:21:44.910
Johny Fernandez: That's awesome.
And being here, in this actual

1822
01:21:44.940 --> 01:21:47.400
event, kind of walk us through
why you guys came and what you

1823
01:21:47.400 --> 01:21:48.960
guys expect out of something
like this.

1824
01:21:48.960 --> 01:21:52.920
Garima Shah: Sure. So myself and
Tom, my partner both come from

1825
01:21:52.920 --> 01:21:55.080
the payments space, it's in our
blood, right? I've been in

1826
01:21:55.080 --> 01:21:59.130
payments since 2004. These are
my people. And half of the

1827
01:21:59.130 --> 01:22:02.100
reason why Biller Genie came
into place is because we were

1828
01:22:02.100 --> 01:22:04.410
looking for a solution that
would handle QuickBooks

1829
01:22:04.410 --> 01:22:08.730
integrations for the payments,
business. And we couldn't find

1830
01:22:08.730 --> 01:22:12.150
that. And that's really where
Biller Genie came from. Now that

1831
01:22:12.150 --> 01:22:16.350
we're a software only or SAS
solution, we're fully payments

1832
01:22:16.350 --> 01:22:19.020
agnostic. So to all the
processors, ISOs agents out

1833
01:22:19.020 --> 01:22:21.600
there who are looking for
solutions like ours, if you just

1834
01:22:21.600 --> 01:22:23.190
ask someone, hey, did you ever
have a merchant that you had to

1835
01:22:23.190 --> 01:22:25.380
walk away from that was using
QuickBooks, I guarantee you,

1836
01:22:25.380 --> 01:22:28.230
there won't be a single person
that says no, right. So that's

1837
01:22:28.230 --> 01:22:30.930
really why we're really excited
to be here.

1838
01:22:31.020 --> 01:22:33.510
Johny Fernandez: So you've been
in this role since 2018, you've

1839
01:22:33.510 --> 01:22:37.350
had quite an impressive resume
from 2016, you were in different

1840
01:22:37.350 --> 01:22:40.170
roles, leadership roles,
business leadership roles. So as

1841
01:22:40.170 --> 01:22:43.110
a female in this space, where
it's primarily a lot of men,

1842
01:22:43.200 --> 01:22:46.050
kind of walk me through seeing a
lot of different other females

1843
01:22:46.050 --> 01:22:47.880
also here what's going through
your mind?

1844
01:22:48.660 --> 01:22:52.080
Garima Shah: It's great. So I
will say that in 2009, was the

1845
01:22:52.080 --> 01:22:55.650
first money 2020. And I remember
going to a female, a women's

1846
01:22:55.650 --> 01:22:58.110
only networking event at that
show. And they giving a

1847
01:22:58.110 --> 01:23:01.140
statistic that out of the 20,000
people that were there less than

1848
01:23:01.140 --> 01:23:05.760
5% were women. So to see that
changing, and it's happening

1849
01:23:05.760 --> 01:23:08.070
little by little, but to
definitely see not just women,

1850
01:23:08.070 --> 01:23:11.190
but to see various minorities,
different age groups, different

1851
01:23:11.190 --> 01:23:14.850
people coming into our industry
is super exciting. And you know,

1852
01:23:14.850 --> 01:23:18.030
it's nice to see, I always used
to say, oh, people, it's not

1853
01:23:18.030 --> 01:23:20.460
fair, people remember me,
because I'm a woman in this

1854
01:23:20.460 --> 01:23:23.310
industry. And now it's not the
case, we're seeing a lot more

1855
01:23:23.310 --> 01:23:26.070
women coming into our industry.
And that's been really exciting.

1856
01:23:26.250 --> 01:23:28.050
Sean Murray: Let's talk a little
a little bit about the future.

1857
01:23:28.050 --> 01:23:31.440
What would you say in regards to
females in the industry, and

1858
01:23:31.440 --> 01:23:34.380
also seeing the industry, where
is it going after a year, like

1859
01:23:34.410 --> 01:23:35.010
2020?

1860
01:23:35.730 --> 01:23:37.860
Garima Shah: So in terms of
females in the industry, I think

1861
01:23:37.860 --> 01:23:40.050
that's only going to continue to
grow. I think that's been

1862
01:23:40.050 --> 01:23:43.380
flipped for over and every
sector. And I think, especially

1863
01:23:43.380 --> 01:23:46.350
as women get into more software,
and those types of roles, we're

1864
01:23:46.350 --> 01:23:49.320
just going to see more women in
leadership positions, at least

1865
01:23:49.350 --> 01:23:52.800
I'm gonna make sure that that's
the case. But in terms of the

1866
01:23:52.830 --> 01:23:54.960
industry, and where we're gonna
see after 2020, I mean I think

1867
01:23:54.960 --> 01:23:59.460
2020 was a hard year for a lot
of us in payments because of

1868
01:23:59.460 --> 01:24:02.460
what was happening to the
economy as a whole. Seeing that

1869
01:24:02.460 --> 01:24:06.810
uptick now has been great for us
as a company, we were fortunate

1870
01:24:06.810 --> 01:24:09.060
enough to be on the software
side. And we were able to use

1871
01:24:09.060 --> 01:24:12.540
2020 as a catalyst to really
focus on development efforts.

1872
01:24:12.570 --> 01:24:14.700
Sean Murray: Awesome. So what
advice would you give to other

1873
01:24:14.700 --> 01:24:17.280
people that are watching this
that are either not here? Or

1874
01:24:17.280 --> 01:24:20.040
thinking about getting into the
space into a leadership role in

1875
01:24:20.040 --> 01:24:21.480
this space? What would you say
to them?

1876
01:24:22.470 --> 01:24:24.270
Garima Shah: They have to like
the fact that things are ever

1877
01:24:24.270 --> 01:24:26.760
changing what's the most
exciting thing about fintech as

1878
01:24:26.760 --> 01:24:29.820
a whole is it's the way that
money is moved. I mean, who

1879
01:24:29.820 --> 01:24:32.130
doesn't want to be right there,
it's the way money is moved.

1880
01:24:32.130 --> 01:24:35.130
It's how it has how we work,
right? And whether that means in

1881
01:24:35.490 --> 01:24:39.300
2004, we were selling credit
card machines with a card, and

1882
01:24:39.300 --> 01:24:42.570
people were signing on like
double stack receipts, where now

1883
01:24:42.570 --> 01:24:44.880
we're talking about things like
crypto acceptance and foreign

1884
01:24:44.880 --> 01:24:48.780
exchanges. I mean, it doesn't
really matter. But the way that

1885
01:24:48.780 --> 01:24:51.780
financial technology is it's
only going to continue it's only

1886
01:24:51.780 --> 01:24:54.360
gonna get bigger, better,
stronger. So if you like things

1887
01:24:54.360 --> 01:24:56.280
that are challenging you like
things that are ever changing.

1888
01:24:56.370 --> 01:24:59.820
You want to be at the forefront
of the world. I definitely think

1889
01:24:59.820 --> 01:25:00.600
it's the industry for you.

1890
01:25:00.600 --> 01:25:02.700
Sean Murray: That's awesome.
Thanks so much Garima for being

1891
01:25:02.700 --> 01:25:03.810
here for chatting with us.

1892
01:25:03.840 --> 01:25:04.980
Garima Shah: Absolutely. Thanks
for having me.

1893
01:25:05.010 --> 01:25:06.450
Johny Fernandez: And for
everyone that's watching, we

1894
01:25:06.450 --> 01:25:08.550
will be back obviously, in a
couple of minutes to kind of

1895
01:25:08.550 --> 01:25:11.910
recap the event and also for
with more interviews, so stay

1896
01:25:11.910 --> 01:25:12.240
tuned.

1897
01:25:13.500 --> 01:25:15.840
Jim Fink: I think it's the
coming out for everyone. So

1898
01:25:15.840 --> 01:25:19.110
people were really excited to be
here. A lot of traffic, which is

1899
01:25:19.110 --> 01:25:23.010
always good. And generally
everyone is just estatic to kind

1900
01:25:23.010 --> 01:25:26.280
of get back in networking, and
see colleagues, and industry

1901
01:25:26.280 --> 01:25:26.580
friends.

1902
01:25:26.580 --> 01:25:30.450
Sean Murray: Yeah. You still
sign up? Like payments partners

1903
01:25:30.480 --> 01:25:32.640
as like referral partners. I
mean, I imagine that's why

1904
01:25:32.640 --> 01:25:35.850
you're here. But is that part of
the business segment of the

1905
01:25:35.850 --> 01:25:38.250
business still like, work?

1906
01:25:39.120 --> 01:25:40.560
Jim Fink: 100%, that's primarily
my focus.

1907
01:25:40.590 --> 01:25:40.890
Sean Murray: Yeah.

1908
01:25:41.100 --> 01:25:43.710
Jim Fink: Rapid is, is going to
have to be processes.

1909
01:25:43.830 --> 01:25:44.130
Sean Murray: Yeah.

1910
01:25:44.130 --> 01:25:46.500
Jim Fink: I mean large super
ISOs and requirements, and

1911
01:25:46.500 --> 01:25:49.170
basically introducing the
service through through their

1912
01:25:49.170 --> 01:25:52.890
distribution network and
merchant. Its a great segue into

1913
01:25:52.890 --> 01:25:55.380
getting capital distributed to
the merchants.

1914
01:25:56.190 --> 01:25:58.230
Sean Murray: Through this last
year, kind of how did you guys

1915
01:25:58.230 --> 01:25:59.190
handle 2020?

1916
01:25:59.520 --> 01:26:03.720
Yokesha Cox: Oh, wow. 2020 was
not as difficult for us. And as

1917
01:26:03.720 --> 01:26:06.270
challenging for us as it was for
other companies, we actually

1918
01:26:06.270 --> 01:26:11.190
hired over 100 people in 2020.
We navigated through working

1919
01:26:11.190 --> 01:26:15.270
from the office to working hard
from home, very successfully, we

1920
01:26:15.270 --> 01:26:18.360
are a family. So we believe in
one trust. So we just took our

1921
01:26:18.360 --> 01:26:21.120
family from the office and made
our family home, we incorporated

1922
01:26:21.120 --> 01:26:24.540
teams and zoom and anything that
kept us connected. That's what

1923
01:26:24.540 --> 01:26:25.020
we did.

1924
01:26:25.260 --> 01:26:28.140
Johny Fernandez: So moving
forward to 2021, everyone's

1925
01:26:28.140 --> 01:26:30.960
coming back with a bang, how are
you guys gonna move forward?

1926
01:26:31.110 --> 01:26:33.660
Yokesha Cox: We are everywhere
we need to be as an

1927
01:26:33.660 --> 01:26:36.600
organization, one of the great
things is that now we're able to

1928
01:26:36.600 --> 01:26:39.270
travel. So we're able to make
that face to face connection,

1929
01:26:39.270 --> 01:26:41.940
we're able to speak with our
clients, we're able to just have

1930
01:26:41.940 --> 01:26:44.820
those conversations and figure
out what it is they need. So

1931
01:26:44.820 --> 01:26:47.640
whatever that we can do for
them, we can just move forward

1932
01:26:47.640 --> 01:26:48.090
with them.

1933
01:26:48.240 --> 01:26:51.330
Sean Murray: So talk to me as a
minority in this space. And as a

1934
01:26:51.330 --> 01:26:54.180
female, what does it mean for
you to come here and see other

1935
01:26:54.180 --> 01:26:57.300
females also in the space, when
it's an all boys club, for the

1936
01:26:57.300 --> 01:26:58.950
most part in all of it's
elements?

1937
01:26:59.250 --> 01:27:02.010
Yokesha Cox: It has been
beautiful for me as an African

1938
01:27:02.010 --> 01:27:04.950
American woman to walk in this
space and see other women that

1939
01:27:04.950 --> 01:27:07.890
look like me, there have been
times where I've been to events

1940
01:27:07.890 --> 01:27:11.220
such as this, and I'm the only
female, I'm the only woman and

1941
01:27:11.220 --> 01:27:14.100
then I'm the only woman of
color. So to see how we've

1942
01:27:14.100 --> 01:27:17.070
transcended those walls. And
it's no longer a boys club, it's

1943
01:27:17.070 --> 01:27:20.220
an us globe. And to see the
women in here, it's phenomenal.

1944
01:27:20.460 --> 01:27:22.410
Sean Murray: Any advice for
females that are either

1945
01:27:22.440 --> 01:27:25.470
interested in getting into this
space or are nervous, that they

1946
01:27:25.470 --> 01:27:29.250
won't see as many females or
minority females of their, you

1947
01:27:29.250 --> 01:27:31.800
know, skin tone in this space,
any advice to them, that are

1948
01:27:31.800 --> 01:27:32.580
trying to jump in?

1949
01:27:32.820 --> 01:27:35.580
Yokesha Cox: Take that step.
Just because you don't see us

1950
01:27:35.580 --> 01:27:38.310
doesn't mean that we're not
here, we arehere sometimes

1951
01:27:38.310 --> 01:27:41.190
behind the scenes, I'm in sales
operations. So you may not see

1952
01:27:41.190 --> 01:27:44.070
me in the forefront. But I'm in
the background working. So take

1953
01:27:44.070 --> 01:27:47.670
that step, believe in yourself
and trust and believe there are

1954
01:27:47.670 --> 01:27:50.580
women in this industry. And we
are heavy hitters and heavy

1955
01:27:50.580 --> 01:27:51.570
players in this industry.

1956
01:27:51.840 --> 01:27:54.900
Sean Murray: So, so far being
here, what have you seen? What

1957
01:27:54.900 --> 01:27:57.870
have you observed so far about
just the come back in this

1958
01:27:57.870 --> 01:27:58.410
space?

1959
01:27:59.010 --> 01:28:01.890
Justin Novak: Well, first of
all, it's good to be back. Here

1960
01:28:01.890 --> 01:28:05.550
live with people, you know,
we've all been kind of cooped

1961
01:28:05.550 --> 01:28:09.000
up, stuck at home past 12 months
and some change. So it's just

1962
01:28:09.000 --> 01:28:13.740
good to be back and meeting new
people. And feeling like, you

1963
01:28:13.740 --> 01:28:17.550
know, a lot of innovation
happening in the space, I'm new

1964
01:28:17.550 --> 01:28:22.170
to the payments world I come
from an e-commerce background

1965
01:28:22.350 --> 01:28:25.410
and so there's just so much to
learn, which is it's

1966
01:28:25.410 --> 01:28:26.250
fascinating.

1967
01:28:26.880 --> 01:28:28.860
Sean Murray: So as someone
that's new, and that's, you

1968
01:28:28.860 --> 01:28:33.840
know, still under the age of 30,
let's walk us through, like, how

1969
01:28:33.840 --> 01:28:36.330
have you seen the younger
generation kind of walking in

1970
01:28:36.450 --> 01:28:37.860
and taking over the space?

1971
01:28:39.990 --> 01:28:42.540
Justin Novak: They, I mean,
they're brilliant, you know,

1972
01:28:42.540 --> 01:28:45.720
they're motivated, they're
hungry. And I think there's a

1973
01:28:45.720 --> 01:28:50.220
lot we can learn from them. Even
me being 28. And I have a lot of

1974
01:28:50.220 --> 01:28:53.550
mentors that are older than me,
but I also have, like cousins

1975
01:28:53.550 --> 01:28:56.160
and friends and colleagues who
are younger than me that I've

1976
01:28:56.160 --> 01:28:58.710
realized there's so much to
learn from them and just the way

1977
01:28:58.710 --> 01:28:59.850
they think about the world.

1978
01:29:00.390 --> 01:29:01.830
Johny Fernandez: And what advice
would you give someone that's

1979
01:29:01.830 --> 01:29:05.100
looking to get into this space
that's either completely new to

1980
01:29:05.100 --> 01:29:08.790
the whole concept of it, or
someone that's young, and just

1981
01:29:08.790 --> 01:29:09.300
trying to get in?

1982
01:29:09.990 --> 01:29:13.920
Justin Novak: Yeah, there's so
much change happening in the

1983
01:29:13.920 --> 01:29:18.150
space and there's so many
opportunities to to find a work

1984
01:29:18.150 --> 01:29:22.320
environment that's, that's
suitable for you. I feel back in

1985
01:29:22.320 --> 01:29:27.870
the day, traditional finance, it
was very what's the word? Like

1986
01:29:27.870 --> 01:29:32.940
it was, It wasn't for everyone.
But nowadays, with like, say

1987
01:29:32.940 --> 01:29:36.840
crypto, you know, it's it's more
open minded. So maybe that's

1988
01:29:36.840 --> 01:29:38.700
more suitable for you. And
there's a lot of different

1989
01:29:38.700 --> 01:29:43.800
shades in between traditional
finance and crypto. So I think

1990
01:29:43.860 --> 01:29:46.110
you know, there's something out
there for everyone.

1991
01:29:46.560 --> 01:29:48.900
Sean Murray: You guys, welcome
back. We're here at the annual

1992
01:29:49.020 --> 01:29:53.490
SEAA conference. Sean, it's been
quite a day. Seen a lot of

1993
01:29:53.490 --> 01:29:55.920
things. You've talked to a lot
of people and we're gonna recap

1994
01:29:55.920 --> 01:29:58.950
it I know right now the closing
reception is happening. Yeah.

1995
01:29:58.980 --> 01:30:02.550
But Sean big takeaway, at least
for me today is that the

1996
01:30:02.550 --> 01:30:05.430
industry, this industry
specifically, it's coming back,

1997
01:30:05.490 --> 01:30:07.590
and people have pretty big
plans.

1998
01:30:07.950 --> 01:30:10.770
Yeah, they do. And I'll just
I'll just say, right off the

1999
01:30:10.770 --> 01:30:13.770
mark is that we were talking
about the different colors that

2000
01:30:13.770 --> 01:30:17.190
you could wear to signify, like
how comfortable you were with

2001
01:30:17.190 --> 01:30:21.810
like green, yellow, purple, red.
And I saw a lot, I saw a lot of

2002
01:30:21.810 --> 01:30:24.060
greens, I saw a lot of purples.

2003
01:30:24.150 --> 01:30:25.620
Johny Fernandez: Which means
that you're either fully

2004
01:30:25.620 --> 01:30:29.850
vaccinated, or that you are okay
to go ahead and party on as I

2005
01:30:29.850 --> 01:30:30.090
would say here.

2006
01:30:30.090 --> 01:30:32.160
Sean Murray: Yeah, but it seemed
like people were all about

2007
01:30:32.190 --> 01:30:35.370
following the rules of that in
the beginning. Yeah. But I think

2008
01:30:35.400 --> 01:30:38.580
basically, everyone turned into
a green. Yeah. Like, super

2009
01:30:38.580 --> 01:30:41.370
quick. Yeah. To the point where
today, I didn't really see

2010
01:30:41.370 --> 01:30:43.710
anyone wearing the badge. I
didn't I never got around to

2011
01:30:43.710 --> 01:30:45.720
putting mine on. I would. I
would have been wearing the

2012
01:30:45.720 --> 01:30:50.910
green again. Yeah. Had I, you
know, the, the memory should do

2013
01:30:50.910 --> 01:30:53.610
that. But no one else was
wearing them either. It looked

2014
01:30:53.610 --> 01:30:56.490
like a free for all in terms of
everyone was green. Yeah. Let's

2015
01:30:56.490 --> 01:30:59.400
do this. I think we all poached
as everyone was cautious. Yeah.

2016
01:30:59.430 --> 01:31:02.310
Coming here, you know, we're
just gonna follow follow these

2017
01:31:02.310 --> 01:31:05.550
guidelines that we're gonna, you
know, keep our distance and you

2018
01:31:05.550 --> 01:31:08.760
know, we'll do one of these, you
know, what I mean? And, you

2019
01:31:08.760 --> 01:31:11.010
know, and all that, you know,
and all that stuff. And like,

2020
01:31:11.010 --> 01:31:14.250
really. Yeah. You know, because
everyone's, everyone was

2021
01:31:14.250 --> 01:31:14.640
nervous.

2022
01:31:14.640 --> 01:31:15.990
Johny Fernandez: Everyone's
nervous. Yeah.

2023
01:31:16.200 --> 01:31:17.310
Sean Murray: We have people
coming from all over the

2024
01:31:17.310 --> 01:31:17.760
country.

2025
01:31:17.790 --> 01:31:18.060
Johny Fernandez: Yup.

2026
01:31:18.090 --> 01:31:20.490
Sean Murray: I talked to people
on camera, at least from

2027
01:31:20.520 --> 01:31:24.300
Minnesota, California, I talked
to some people who are local

2028
01:31:24.300 --> 01:31:27.270
here, I talked to some people
from New Jersey and New York

2029
01:31:27.270 --> 01:31:30.540
and, you know, basically all
over. And so everyone's come

2030
01:31:30.540 --> 01:31:34.350
from a different mindset. And
within I'd say, just a few

2031
01:31:34.350 --> 01:31:37.230
hours, people were like, oh,
this is okay, you know, you

2032
01:31:37.230 --> 01:31:39.510
know, we can do this, it's okay
to be part of the world,

2033
01:31:39.540 --> 01:31:43.110
assuming that they were, you
know, they're safe and all that

2034
01:31:43.110 --> 01:31:45.870
stuff. And, you know, have
their, their shots or whatever

2035
01:31:45.870 --> 01:31:51.600
it is. But today it really what,
without the stickers. I didn't

2036
01:31:51.600 --> 01:31:53.520
even think about it. Yeah. It
was just the real world.

2037
01:31:53.550 --> 01:31:55.590
Johny Fernandez: It was it was.
And I think that was something

2038
01:31:55.590 --> 01:31:58.710
that when we talked to the
different people on camera, you

2039
01:31:58.710 --> 01:32:02.700
and I, something that we've seen
is that this is definitely they

2040
01:32:02.700 --> 01:32:06.570
want to return to a normal, just
like we've all, we all want to

2041
01:32:06.570 --> 01:32:09.750
at this point. And something
that they're everyone's excited

2042
01:32:09.750 --> 01:32:12.360
is that people that are here,
they wanted to be here. And the

2043
01:32:12.360 --> 01:32:15.270
advice that they gave to other
people that weren't here, is to

2044
01:32:15.270 --> 01:32:18.030
come, next time, there's a
conference like this, come on

2045
01:32:18.030 --> 01:32:22.080
over, because this is definitely
something different than a Zoom.

2046
01:32:22.110 --> 01:32:26.190
Yeah. For example. And it's not
the same, doing a Zoom meeting

2047
01:32:26.220 --> 01:32:30.300
as being here in person
networking, and just interacting

2048
01:32:30.300 --> 01:32:33.660
with not only you know, your
peers or colleagues, but just

2049
01:32:33.660 --> 01:32:36.330
someone with a similar
lifestyle. Like, you know,

2050
01:32:36.360 --> 01:32:39.900
everyone here has a very similar
story, they got into this space,

2051
01:32:40.020 --> 01:32:42.900
you know, for a specific reason,
and they're here, and they're

2052
01:32:42.900 --> 01:32:44.370
gonna make the best out of 2021.

2053
01:32:44.820 --> 01:32:48.420
Sean Murray: Yeah, I think so.
There were some people that

2054
01:32:48.450 --> 01:32:51.600
ended up not getting the
opportunity to embrace the

2055
01:32:51.600 --> 01:32:55.410
experience they may have,
chickened out, I think, when we

2056
01:32:55.410 --> 01:32:57.870
first went live, we were talking
about there being 900 people,

2057
01:32:57.870 --> 01:32:59.670
and then we were we were
corrected to like, no, it's,

2058
01:32:59.730 --> 01:33:03.330
it's 1000 plus, because they
were adding in the people that

2059
01:33:03.330 --> 01:33:05.220
you know, the walk ins and all
that stuff, which we which we

2060
01:33:05.220 --> 01:33:08.250
didn't think of, but there were
also people that paid to

2061
01:33:08.250 --> 01:33:10.920
register paid to attend, but
didn't come.

2062
01:33:11.070 --> 01:33:11.490
Johny Fernandez: Okay.

2063
01:33:11.580 --> 01:33:13.770
Sean Murray: That may have been
like 100 or 200, at least from

2064
01:33:13.770 --> 01:33:15.720
what I heard from someone
before. I don't know if that's

2065
01:33:15.750 --> 01:33:20.460
100% accurate. Yeah. And, you
know, I don't know what the

2066
01:33:20.460 --> 01:33:24.120
reason was. And that happens at
shows. Yeah. By the way, you

2067
01:33:24.120 --> 01:33:27.180
will have people actually pay to
come and then, and then not

2068
01:33:27.180 --> 01:33:29.730
actually go and I'm wondering if
you know if any of that was

2069
01:33:29.730 --> 01:33:33.810
really related to COVID or not,
but I think they would have been

2070
01:33:33.810 --> 01:33:37.740
pleasantly surprised to see how
normal and regular it was and I

2071
01:33:37.740 --> 01:33:41.400
hope that it be received. And
you know, and that they were

2072
01:33:41.400 --> 01:33:43.800
able to partake in the
opportunity that they didn't let

2073
01:33:43.800 --> 01:33:47.880
the fear, you know, kind of
override it. Because the people

2074
01:33:47.880 --> 01:33:51.630
who were here they they fully
embraced the return. Yeah. We

2075
01:33:51.630 --> 01:33:53.520
had, we've had some embraces on
camera.

2076
01:33:53.520 --> 01:33:55.860
Johny Fernandez: Yeah. Cause
people are fully like, they're

2077
01:33:55.860 --> 01:33:59.100
like, hey, like, let's talk,
let's shake hands. Because I

2078
01:33:59.100 --> 01:34:03.120
think mentally you know, you
know, despite us being covered

2079
01:34:03.120 --> 01:34:05.700
up for a year or so, people take
it off, and they're ready to go.

2080
01:34:05.700 --> 01:34:08.430
They're, like fully embracing
it. And I think something that

2081
01:34:08.430 --> 01:34:11.370
we've talked about was even a
simple handshake, they will

2082
01:34:11.400 --> 01:34:14.430
embrace your hand a little
longer than before, when it was,

2083
01:34:14.460 --> 01:34:17.490
you know, back in the day, like,
hey, it's something normal. You

2084
01:34:17.490 --> 01:34:21.540
did it, but that being taken
away from us, it definitely, you

2085
01:34:21.540 --> 01:34:24.930
know, makes you really think
about it a little bit more. You

2086
01:34:24.930 --> 01:34:26.130
know, enjoy it.

2087
01:34:26.160 --> 01:34:28.470
Sean Murray: Yeah, I honestly, I
honestly thought that there was

2088
01:34:28.500 --> 01:34:30.930
this is a weird thing to say.
But there was a lot of touching.

2089
01:34:31.380 --> 01:34:32.310
Going on in the show.

2090
01:34:32.340 --> 01:34:33.330
Johny Fernandez: Yeah,
appropriately.

2091
01:34:33.450 --> 01:34:36.030
Sean Murray: Appropriate
touching. But I think what I

2092
01:34:36.030 --> 01:34:40.020
expected was, people might not
shake hands. Yeah. Right. But

2093
01:34:40.020 --> 01:34:43.770
everything else would be sort of
normal. Yeah. But it was it was

2094
01:34:43.830 --> 01:34:47.850
more intimate. And I mean, than
it normally would have been.

2095
01:34:47.880 --> 01:34:50.970
Yeah. As we've been saying. And
I think that just says a lot.

2096
01:34:51.000 --> 01:34:55.650
Yeah, another thing to kind of
recap on the breakout sessions,

2097
01:34:55.650 --> 01:35:01.200
how it was structured. It seemed
like it was a normal,  breakout

2098
01:35:01.200 --> 01:35:04.710
session like what you would see,
you know, during regular times.

2099
01:35:04.710 --> 01:35:07.110
Yeah. Something that I did
notice. And we saw it in the

2100
01:35:07.110 --> 01:35:10.260
video that we shot was that the
breakout sessions, they were

2101
01:35:10.320 --> 01:35:13.230
distant, you know, and people
could sit there, but it was a

2102
01:35:13.230 --> 01:35:16.980
pretty packed room. People were
attending, people had no mask on

2103
01:35:16.980 --> 01:35:19.230
and they were sitting. And you
know, we had a panel that we

2104
01:35:19.230 --> 01:35:21.990
were able to really, you know,
people were able to see and

2105
01:35:21.990 --> 01:35:25.890
interact with. So it was it was
normal. And that's something

2106
01:35:25.890 --> 01:35:29.280
that to me, I found a little
surprising, because, you know,

2107
01:35:29.280 --> 01:35:31.980
in a panel in a conference area,
it's a little bit more

2108
01:35:31.980 --> 01:35:34.230
organized. But I wondered how
many people were actually gonna

2109
01:35:34.230 --> 01:35:36.870
show up? Yeah. And how many
people are just here to grab

2110
01:35:36.870 --> 01:35:39.810
something and go, but it was
packed out. I mean, people were

2111
01:35:39.810 --> 01:35:43.260
literally standing in the back
room, you know, and they were

2112
01:35:43.290 --> 01:35:47.310
lined up waiting to hear the
speaker that was there. So

2113
01:35:47.310 --> 01:35:50.880
that's something that I also
found very interesting. And they

2114
01:35:50.880 --> 01:35:53.940
were in that room for quite some
time. It wasn't, you know, a 10

2115
01:35:53.940 --> 01:35:56.910
minute thing. Like, this was
about like, more than 40 minutes

2116
01:35:56.940 --> 01:35:57.720
they were in there.

2117
01:35:57.750 --> 01:36:01.200
Yeah, the ballroom was the same
way when I did the the opening

2118
01:36:01.200 --> 01:36:04.200
remarks this morning. In the
first panel. There were

2119
01:36:04.260 --> 01:36:08.250
literally hundreds of people you
know in the room together. It

2120
01:36:08.250 --> 01:36:11.640
seemed very, you know, very,
very normal. People just

2121
01:36:11.640 --> 01:36:14.250
completely embraced it. We we
were just having a show. Yeah.

2122
01:36:14.940 --> 01:36:18.030
It was just a show. Yeah. We
keep making a big deal out of

2123
01:36:18.030 --> 01:36:20.760
it, I think because we were
expecting it to be like this big

2124
01:36:20.760 --> 01:36:24.030
deal. But even even the agenda
set a lot. It wasn't like this

2125
01:36:24.060 --> 01:36:25.680
COVID, COVID, COVID, COVID.

2126
01:36:26.010 --> 01:36:29.310
I think there was one breakout
session that happened at around

2127
01:36:29.340 --> 01:36:31.710
130. That was code related. But
then everything else.

2128
01:36:31.740 --> 01:36:35.580
Yeah, it was like chargebacks
crypto, you know what I mean,

2129
01:36:35.580 --> 01:36:38.190
like, risk, all the things that
you would normally expect at to

2130
01:36:38.190 --> 01:36:43.320
show. And it's great. And we've
heard so many positive trends

2131
01:36:43.350 --> 01:36:47.550
from businesses who work in this
field, we talked to actually a

2132
01:36:47.700 --> 01:36:52.320
pretty wide variety of not just
payments companies, we spoke to

2133
01:36:52.440 --> 01:36:57.840
at least I spoke to some folks
in the collections world. Legal,

2134
01:36:58.260 --> 01:37:01.470
and even even from funding,
right. So we had a nice, like

2135
01:37:01.470 --> 01:37:05.400
broad group of people who came
to this show. And they even

2136
01:37:05.400 --> 01:37:07.950
honored some people here who
have been coming to this show

2137
01:37:07.950 --> 01:37:11.400
every year, since the first one
in 2001. They actually said that

2138
01:37:11.400 --> 01:37:14.880
the first show, if I'm not
mistaken, the first show they

2139
01:37:14.880 --> 01:37:18.870
ever did for Southeast Acquirers
was right after 911. Okay. Like,

2140
01:37:18.930 --> 01:37:20.460
like the, like, the month after.

2141
01:37:20.460 --> 01:37:21.030
Johny Fernandez: The month
after?

2142
01:37:21.030 --> 01:37:21.300
Sean Murray: Yeah.

2143
01:37:21.330 --> 01:37:23.970
Johny Fernandez: So it's a very
similar type of environment that

2144
01:37:23.970 --> 01:37:27.870
we're now in regards to the
uncertainty but as we've been

2145
01:37:27.870 --> 01:37:30.930
able to see. Yeah. You know, the
show is still gonna go on,

2146
01:37:30.930 --> 01:37:32.910
regardless of what's going on in
the world.

2147
01:37:32.940 --> 01:37:35.310
Sean Murray: Yeah. And they also
said that, that wasn't even the

2148
01:37:35.310 --> 01:37:38.850
only like, you know, event that
they had to go through, they

2149
01:37:38.850 --> 01:37:41.730
also had to go through Katrina,
because they were gonna do their

2150
01:37:41.730 --> 01:37:46.110
event in New Orleans. Okay. When
Hurricane Katrina had happened,

2151
01:37:46.290 --> 01:37:48.660
I mean, it was gonna be right
after, you know, when the

2152
01:37:48.660 --> 01:37:51.600
hurricane hit. And so they
actually said that their event

2153
01:37:51.780 --> 01:37:55.440
went from being a fall event to
the spring because of that. So

2154
01:37:55.560 --> 01:37:57.840
we like to think of, I don't
know, if we like you, but we

2155
01:37:57.840 --> 01:38:01.050
probably think of the pandemic
as this once in a lifetime thing

2156
01:38:01.050 --> 01:38:03.960
that altered everything, you
know, you know, it'll never

2157
01:38:03.960 --> 01:38:06.660
happen again, all this big
change. But here's a show that's

2158
01:38:06.660 --> 01:38:09.060
been around for 20 years. You
know, they're like, they started

2159
01:38:09.060 --> 01:38:11.640
off with 911. You know, they
went right right  into Hurricane

2160
01:38:11.640 --> 01:38:17.190
Katrina, right? They went into
these big times of, you know,

2161
01:38:17.190 --> 01:38:21.210
like, uncertainty and emotion
and crisis and, and they pulled

2162
01:38:21.210 --> 01:38:23.190
through it, and they're still
here. And that's just part part

2163
01:38:23.190 --> 01:38:25.530
of like the world. I don't know
that we've ever really gone

2164
01:38:25.530 --> 01:38:28.320
through one where like, we close
the country for more than a

2165
01:38:28.320 --> 01:38:32.040
year. Yeah. But the fact that
it's bounced back, as it has.

2166
01:38:32.040 --> 01:38:35.640
And other times, I think it says
a lot about just humanity in

2167
01:38:35.640 --> 01:38:38.160
general, we all want to make it
look like think like, this was

2168
01:38:38.160 --> 01:38:42.900
this one epic thing that can
change everything forever. But

2169
01:38:42.900 --> 01:38:45.870
here we are talking about like
chargebacks crypto, risk

2170
01:38:45.900 --> 01:38:49.140
lending, you know, businesses
did well, and things of that

2171
01:38:49.140 --> 01:38:50.640
nature. So I don't know.

2172
01:38:50.880 --> 01:38:52.860
Johny Fernandez: And it's
something also I found very

2173
01:38:52.860 --> 01:38:56.610
interesting, that, you know, in
regards to like a comeback, the

2174
01:38:56.610 --> 01:38:59.910
people I spoke with today, you
know, we had a female president,

2175
01:38:59.910 --> 01:39:02.820
and then we had people that are
in the millennial age range that

2176
01:39:02.820 --> 01:39:07.440
are in the industry. And their
plan is to make sure that they

2177
01:39:07.440 --> 01:39:11.670
use 2021 as a comeback here. You
know, a lot of them had a bar

2178
01:39:11.670 --> 01:39:14.910
set and they surpassed that bar.
Yeah. And something you know, we

2179
01:39:14.910 --> 01:39:17.340
were able to speak with a
president of one of the

2180
01:39:17.340 --> 01:39:20.610
companies here with Bill Billy
Genie Biller Genie and she told

2181
01:39:20.610 --> 01:39:23.550
me, you know, her goal is to
make sure that this is an

2182
01:39:23.550 --> 01:39:27.120
explosive year, a better year
than they've ever had, but also

2183
01:39:27.210 --> 01:39:29.430
make sure they hire the right
people. They hire people,

2184
01:39:29.430 --> 01:39:32.010
whether it's, you know, just
someone that's trying to get

2185
01:39:32.010 --> 01:39:35.850
into the industry, someone that
you know, is a minority, someone

2186
01:39:35.850 --> 01:39:38.400
that's a female, like she's very
focused on making sure she

2187
01:39:38.400 --> 01:39:40.650
brings the right people in her
team because she has that

2188
01:39:40.650 --> 01:39:44.010
capability. And they've grown to
the point that she wants to make

2189
01:39:44.010 --> 01:39:47.220
sure that's something that they
do. And then speaking with other

2190
01:39:47.220 --> 01:39:50.370
people that are also in the
industry. They've also stressed

2191
01:39:50.370 --> 01:39:53.130
that this is gonna be the
biggest year that they've had,

2192
01:39:53.160 --> 01:39:55.950
you know, they have they've been
able to hire, you know, more

2193
01:39:55.950 --> 01:39:59.100
people than ever before. Yeah.
And pretty much the problem is

2194
01:39:59.100 --> 01:40:01.440
that they don't have enough
people. So I think that's

2195
01:40:01.440 --> 01:40:05.400
something to say that at the end
of the day, you know, this is

2196
01:40:05.400 --> 01:40:09.660
something that didn't 2020 did
not stop any of the guys here,

2197
01:40:09.690 --> 01:40:13.410
you know, it actually pretty
fast forward them into the

2198
01:40:13.410 --> 01:40:16.500
accelerator road. Yeah. And now,
you know, they're there, they

2199
01:40:16.500 --> 01:40:19.560
have full momentum going into
this year and the future.

2200
01:40:19.590 --> 01:40:21.480
Sean Murray: Yeah, there were
some that mentioned, though,

2201
01:40:21.840 --> 01:40:26.220
although they did well, that
their business changed, they

2202
01:40:26.220 --> 01:40:28.290
were in pay, you know, a lot of
these people are in are in

2203
01:40:28.290 --> 01:40:32.550
payments, and their customers,
at least a good portion of them

2204
01:40:32.550 --> 01:40:37.320
were doing in person face to
face transactions. In order for

2205
01:40:37.320 --> 01:40:40.200
these businesses to survive,
they had to transition to

2206
01:40:40.350 --> 01:40:44.610
e-commerce. And so I think that
accelerated the e-commerce

2207
01:40:44.640 --> 01:40:47.850
business a lot. And if you were
the type of company that was

2208
01:40:47.850 --> 01:40:50.040
prepared to deal with e-commerce
in any way, whether it's

2209
01:40:50.040 --> 01:40:54.330
payments, or whether whether
it's lending, that this was your

2210
01:40:54.360 --> 01:40:57.750
your time to shine, if you are
familiar with that particular

2211
01:40:57.750 --> 01:41:01.260
market, because I think even
though these type of in person

2212
01:41:01.260 --> 01:41:04.740
shows clearly are not going
away, the in person networking

2213
01:41:04.740 --> 01:41:07.470
is never I don't, it's never
gonna change, in my opinion.

2214
01:41:07.470 --> 01:41:10.320
Right? I think this is proof
positive, that it's here to stay

2215
01:41:10.350 --> 01:41:13.530
and all that stuff. It's not
gonna become this Zoom world.

2216
01:41:13.710 --> 01:41:17.940
But as far as business that can
be conducted online that people

2217
01:41:17.940 --> 01:41:21.690
were hesitant to shift over to
it turns out, it can can be,

2218
01:41:21.720 --> 01:41:25.230
businesses that didn't do
takeout or carry out or whatever

2219
01:41:25.260 --> 01:41:29.160
you know what I mean, they found
restaurants that were maybe high

2220
01:41:29.160 --> 01:41:31.950
end that wouldn't do delivery,
because you know, the high end

2221
01:41:31.950 --> 01:41:33.780
steak and you didn't wanna
cheapen yourself by doing

2222
01:41:33.780 --> 01:41:35.850
delivery, or takeout or
whatever. They did it because

2223
01:41:35.850 --> 01:41:38.550
they had to to survive. Yeah.
And I think a lot of those will

2224
01:41:38.550 --> 01:41:42.300
probably continue to do that in
some form or fashion. My guess

2225
01:41:42.300 --> 01:41:45.150
is probably because it was
profitable to do so. And I don't

2226
01:41:45.150 --> 01:41:48.270
think that people will view them
negatively. Cause you know it's

2227
01:41:48.270 --> 01:41:50.700
kind of like a reputational
thing. Yeah. If you're like a

2228
01:41:50.700 --> 01:41:53.970
premier steak, steak house,
right? Or it doesn't have to be

2229
01:41:53.970 --> 01:41:56.940
steak. But you know, just for
someone to place an online

2230
01:41:56.940 --> 01:42:00.300
order, it kind of cheapens the
brand. Yeah. Right. And so, you

2231
01:42:00.300 --> 01:42:03.930
know, that didn't really matter.
And so they had to add

2232
01:42:03.930 --> 01:42:06.540
ecommerce, they had to add
delivery and all that stuff. And

2233
01:42:06.540 --> 01:42:10.710
so I think that part of it is
gonna is gonna remain in some

2234
01:42:10.710 --> 01:42:13.050
form or fashion, we have heard
that from people here that

2235
01:42:13.050 --> 01:42:18.030
e-commerce really got a boost.
But as far as far as in person,

2236
01:42:18.030 --> 01:42:22.470
like networking and stuff this
isn't going anywhere. Yeah. I

2237
01:42:22.470 --> 01:42:23.550
think I think it's here to stay.

2238
01:42:23.580 --> 01:42:25.260
Johny Fernandez: Yeah, and I
definitely do agree with that.

2239
01:42:25.260 --> 01:42:27.690
And something else that we've
been hearing a lot is that

2240
01:42:28.500 --> 01:42:33.210
networking and just building
that relationship in person will

2241
01:42:33.210 --> 01:42:36.720
always out beat something like
cold calling. Yeah. And

2242
01:42:36.720 --> 01:42:39.570
something like doing a Zoom
meeting. And that's something we

2243
01:42:39.570 --> 01:42:42.960
were able to see here firsthand.
And this area right behind this,

2244
01:42:43.080 --> 01:42:46.140
this turned into would turn into
like, you know, the breakfast

2245
01:42:46.140 --> 01:42:49.080
area, the lunch area. And it was
always jam packed. Like right

2246
01:42:49.080 --> 01:42:52.080
now it's not as packed. But it
was always packed with people

2247
01:42:52.110 --> 01:42:55.080
talking to people and you know,
people introducing themselves.

2248
01:42:55.080 --> 01:42:57.360
And that's all I would hear.
It's like, hey, my name is fill

2249
01:42:57.360 --> 01:43:00.090
in the blank. I'm from, you
know, New York, Minnesota,

2250
01:43:00.090 --> 01:43:03.210
Chicago. So all these places.
And I think like you said, that

2251
01:43:03.210 --> 01:43:07.380
is proof that this is not going
anywhere. And I think it's gonna

2252
01:43:07.380 --> 01:43:10.470
be the total opposite of that as
things continue to open back up

2253
01:43:10.680 --> 01:43:14.280
to 100% capacity. Yeah. People
will be doing these events,

2254
01:43:14.550 --> 01:43:17.550
because people are tired of
Zoom. And that's something that

2255
01:43:17.550 --> 01:43:20.580
we've been able to hear through,
you know, throughout most of the

2256
01:43:20.580 --> 01:43:22.200
day, today. And yesterday.

2257
01:43:22.230 --> 01:43:24.060
Sean Murray: Yeah, you know, the
success of a lot of people's

2258
01:43:24.060 --> 01:43:29.100
social media, is there is there
being places that other people

2259
01:43:29.100 --> 01:43:32.850
wish they could go to, like, you
know, a luxurious vacation or

2260
01:43:33.240 --> 01:43:36.600
international travel or you
know, that type of thing, you

2261
01:43:36.600 --> 01:43:39.300
know, going on a safari,
whatever it is, and when you

2262
01:43:39.300 --> 01:43:43.320
can't do that type of thing. You
can't you know, you can't create

2263
01:43:43.320 --> 01:43:46.620
that type of image for yourself
on social media, and I think. I

2264
01:43:46.620 --> 01:43:48.960
don't know how much time people
were spending on social media. I

2265
01:43:48.960 --> 01:43:51.270
imagined a lot cause people are
on their computers a lot. But I

2266
01:43:51.270 --> 01:43:55.350
think it it hurt the social
media industry in a way because

2267
01:43:55.470 --> 01:43:58.170
people weren't able to show
other people. Yeah. All the cool

2268
01:43:58.170 --> 01:44:00.270
things that they were doing,
cause no one was doing anything

2269
01:44:00.270 --> 01:44:00.510
cool.

2270
01:44:00.540 --> 01:44:02.430
Johny Fernandez: Yeah. Everyone
was at home.

2271
01:44:02.460 --> 01:44:03.930
Sean Murray: Yeah. There was
nothing cool.

2272
01:44:03.930 --> 01:44:07.440
Johny Fernandez: Yeah. And now,
something that we can also kind

2273
01:44:07.440 --> 01:44:10.470
of jump into talking about is
the exhibit booth. Yeah.

2274
01:44:10.470 --> 01:44:12.840
Something we've been able to
see. And I saw some pictures

2275
01:44:12.840 --> 01:44:15.720
being taken. And, you know, a
lot of the younger millennial

2276
01:44:15.720 --> 01:44:19.710
guys and girls, they were, you
know, kind of exposing, not

2277
01:44:19.710 --> 01:44:22.470
exposing, they were showing
that, you know, they were here

2278
01:44:22.590 --> 01:44:24.900
because of the new gadgets that
they had here. So that is

2279
01:44:24.900 --> 01:44:27.330
something that we were able to
see throughout the day, were the

2280
01:44:27.330 --> 01:44:32.700
cool gadgets and technology that
are being put forward. As 2021

2281
01:44:32.790 --> 01:44:35.100
continues, you know, these
companies are ready to move

2282
01:44:35.100 --> 01:44:38.700
forward with these cool
technology and cool gadgets.

2283
01:44:38.700 --> 01:44:41.310
And. Yeah. That's something that
I also found very interesting

2284
01:44:41.310 --> 01:44:44.190
because I don't really think
about it, certain things when

2285
01:44:44.190 --> 01:44:47.190
you go out to eat, but something
as simple as tapping your card.

2286
01:44:47.220 --> 01:44:51.180
Yeah. How that impacts this
entire atmosphere that we're in

2287
01:44:51.180 --> 01:44:52.650
right now. Yeah. And the space.

2288
01:44:53.010 --> 01:44:55.560
Sean Murray: Somebody here could
have provided that technology to

2289
01:44:55.560 --> 01:44:55.920
do it.

2290
01:44:56.160 --> 01:44:57.600
Johny Fernandez: So it's
definitely interesting. It's

2291
01:44:57.600 --> 01:45:01.350
exciting, and I think it's also
what, the big takeaway for me

2292
01:45:01.350 --> 01:45:06.120
is, like we've been saying, no
one's really leaving these types

2293
01:45:06.120 --> 01:45:09.390
of events, sad or scared, I
think it's the total opposite.

2294
01:45:09.390 --> 01:45:12.750
Yeah. You know, people are more
are more motivated to move

2295
01:45:12.750 --> 01:45:16.050
forward and to really, you know,
continue to do these type of

2296
01:45:16.050 --> 01:45:18.570
networking events, whether it
means something this big or

2297
01:45:18.570 --> 01:45:20.880
something, maybe a little
smaller, you know, maybe

2298
01:45:20.880 --> 01:45:24.210
something more a little bit more
local to where their at. But

2299
01:45:24.210 --> 01:45:26.940
people are definitely motivated.
And everyone's happy here,

2300
01:45:27.360 --> 01:45:31.260
besides the sunshine that's
here, and 80 degrees, 90 degrees

2301
01:45:31.260 --> 01:45:33.840
that we're in right now, but
people are excited to, you know,

2302
01:45:33.840 --> 01:45:36.720
continue to network, I saw a lot
of things like business cards

2303
01:45:36.720 --> 01:45:39.210
being exchanged. Yeah. In my
mind I was like business cards,

2304
01:45:39.300 --> 01:45:42.180
you know, are they even a thing
right now, but they still are

2305
01:45:42.180 --> 01:45:44.550
like, people are exchanging
business cards, exchanging

2306
01:45:44.550 --> 01:45:47.670
information. So it's definitely
something that, you know, it's

2307
01:45:47.670 --> 01:45:48.450
exciting to see.

2308
01:45:48.480 --> 01:45:52.230
Sean Murray: I took a selfie
with a guy who I he was down to

2309
01:45:52.230 --> 01:45:55.470
his last business card. And he
was on his way out, I guess,

2310
01:45:55.500 --> 01:45:58.290
when you hit the last card. For
him. That means he's done his

2311
01:45:58.290 --> 01:46:01.860
networking for the day. Yeah.
And we're the table right over

2312
01:46:01.860 --> 01:46:05.310
here. So when he came over with
his business card, he told me

2313
01:46:05.310 --> 01:46:08.310
he's like, you're the last one.
This is my last big exchange.

2314
01:46:08.340 --> 01:46:12.510
And we actually took a selfie to
commemorate the moment. It was

2315
01:46:12.510 --> 01:46:14.970
like this was this was he's
like, hey, you're, you're lucky.

2316
01:46:14.970 --> 01:46:16.410
he's like, do you know how lucky
you are? I didn't know what he

2317
01:46:16.410 --> 01:46:18.390
was talking about. Right? I'm
like what, you know, what's

2318
01:46:18.420 --> 01:46:20.850
what's, what's this gonna be
about? Right? He's like, this is

2319
01:46:20.850 --> 01:46:23.370
my last business card of the
day. He's like, I would like

2320
01:46:23.370 --> 01:46:25.830
your card. So we did a little
exchange, we took a selfie.

2321
01:46:25.860 --> 01:46:26.580
Johny Fernandez: That's awesome.

2322
01:46:26.580 --> 01:46:28.950
Sean Murray: But you know, and
that type of thing. That type of

2323
01:46:28.950 --> 01:46:32.580
moment, can't be created over
over zoom. Right? Yeah. I talked

2324
01:46:32.580 --> 01:46:36.150
about social media before. I
really feel like showing other

2325
01:46:36.150 --> 01:46:38.430
people where you are. And what
you're doing is a lot about what

2326
01:46:38.430 --> 01:46:42.090
social media is. Yeah. Like, I
know, it is for us. Yeah.

2327
01:46:42.120 --> 01:46:44.730
Showing people that were on the
scene. You know like, we're on

2328
01:46:44.730 --> 01:46:48.630
the scene live. Yeah. I think it
probably creates a better

2329
01:46:48.630 --> 01:46:52.170
impression than just writing an
article. Just talk about what

2330
01:46:52.170 --> 01:46:55.290
the show was, you know what I
mean, I think you can learn more

2331
01:46:55.380 --> 01:46:59.100
from people having been there.
Yeah. And you might decide if

2332
01:46:59.100 --> 01:47:01.590
that's something you want to be
a part of, too. Yeah. Like, you

2333
01:47:01.590 --> 01:47:05.490
know, it's not just about like,
jealousy of like, I wish I was

2334
01:47:05.490 --> 01:47:10.560
them, you can kind of use that
to formulate your own ideas

2335
01:47:10.560 --> 01:47:12.630
about what you want to do,
especially if you're in

2336
01:47:12.630 --> 01:47:15.210
business. Yeah. And you're
looking at what conference do I

2337
01:47:15.210 --> 01:47:17.940
want to go to? Or do I want to
go to any? Yeah. And you start

2338
01:47:17.940 --> 01:47:21.240
looking at, well, what are the
ones out there? Do they look

2339
01:47:21.240 --> 01:47:23.460
like they're a good experience?
Do they look like they're a good

2340
01:47:23.460 --> 01:47:25.860
time? Do people look like they
were having fun? Yeah. Where did

2341
01:47:25.860 --> 01:47:26.910
they go? Yeah. Right.

2342
01:47:26.910 --> 01:47:29.430
Johny Fernandez: And that's one
thing even I think just everyone

2343
01:47:29.430 --> 01:47:33.120
does it. When they hear about an
event. The first thing I would

2344
01:47:33.120 --> 01:47:35.310
do is I would go or I go to
Google.com.

2345
01:47:35.310 --> 01:47:35.340
Sean Murray: Google.com?

2346
01:47:35.340 --> 01:47:36.180
Johny Fernandez: To Google.

2347
01:47:39.900 --> 01:47:42.420
Sean Murray: Good thing you said
to get the .com, other people

2348
01:47:42.420 --> 01:47:45.210
will be confused. Yeah don't go
to google.org. That's a totally

2349
01:47:45.510 --> 01:47:46.350
different company.

2350
01:47:46.560 --> 01:47:47.520
Johny Fernandez: So you got to
Google.com.

2351
01:47:47.730 --> 01:47:49.860
Sean Murray: He uses Google.com.
Yeah.

2352
01:47:51.210 --> 01:47:52.680
Johny Fernandez: I do. You
should use it too.

2353
01:47:52.740 --> 01:47:54.480
Sean Murray: Or did you, do you
do this on like the worldwide

2354
01:47:54.480 --> 01:47:54.750
web?

2355
01:47:57.000 --> 01:47:58.320
Johny Fernandez: Something
called the Internet.

2356
01:47:59.100 --> 01:48:01.020
Sean Murray: Okay, now we know
how you find out about commas on

2357
01:48:02.940 --> 01:48:02.970
Google.com.

2358
01:48:07.380 --> 01:48:10.230
Johny Fernandez: I love you
guys, you're great. But you go

2359
01:48:10.230 --> 01:48:11.280
to Google.com.

2360
01:48:11.280 --> 01:48:12.150
Sean Murray: I'm calling you out
a lot.

2361
01:48:14.400 --> 01:48:16.230
I'm not giving you time to come
up with a comeback. You try to

2362
01:48:16.230 --> 01:48:19.350
think about them too, guys. I'm
just gonna leave you with that.

2363
01:48:20.010 --> 01:48:22.320
Johny Fernandez: So I look
pictures on Google.com.

2364
01:48:22.350 --> 01:48:22.710
Sean Murray: Yeah.

2365
01:48:23.100 --> 01:48:25.380
Johny Fernandez: Of, of event
and see if like it was packed at

2366
01:48:25.380 --> 01:48:26.460
a good spot or not.

2367
01:48:26.490 --> 01:48:26.790
Sean Murray: Yeah,.

2368
01:48:26.820 --> 01:48:27.750
Johny Fernandez: Google
pictures.com.

2369
01:48:28.560 --> 01:48:29.520
Sean Murray: Google pictures?

2370
01:48:29.520 --> 01:48:30.180
Johny Fernandez: Or
Googleimages.com.

2371
01:48:31.260 --> 01:48:33.060
Sean Murray: I don't think
that's what it is. I think it I

2372
01:48:33.060 --> 01:48:36.390
think it's Google and you click
the. And after when this is

2373
01:48:36.390 --> 01:48:39.210
done, I'm gonna teach you how to
use the internet. Yeah, we'll do

2374
01:48:39.210 --> 01:48:39.630
a training.

2375
01:48:39.660 --> 01:48:40.260
Johny Fernandez: All right
that's awesome.

2376
01:48:40.260 --> 01:48:42.000
Sean Murray: I'm gonna tell ya
how to look, look at pictures

2377
01:48:42.000 --> 01:48:43.860
and stuff. There's a thing
called Instagram, too.

2378
01:48:43.890 --> 01:48:44.940
Johny Fernandez: Oh, I've never
heard of it.

2379
01:48:45.150 --> 01:48:47.130
Sean Murray: Well I'm gonna help
you out. Don't, don't worry.

2380
01:48:47.130 --> 01:48:49.710
Yeah, it has conferences and
things and people are doing cool

2381
01:48:49.710 --> 01:48:49.980
stuff.

2382
01:48:49.980 --> 01:48:50.340
Johny Fernandez: That's great.

2383
01:48:50.340 --> 01:48:50.970
Sean Murray: It's a whole thing.

2384
01:48:51.000 --> 01:48:51.180
Johny Fernandez: I love it.

2385
01:48:51.840 --> 01:48:53.700
Sean Murray: And there's a,
there's live streams that people

2386
01:48:53.700 --> 01:48:53.970
do.

2387
01:48:54.630 --> 01:48:58.110
Johny Fernandez: Oh, my cheeks
hurt from laughing. Oh, man.

2388
01:48:59.040 --> 01:49:00.900
Sean Murray: But you know,
people people will take that

2389
01:49:00.900 --> 01:49:01.530
stuff, you know?

2390
01:49:01.560 --> 01:49:01.980
Johny Fernandez: Yeah.

2391
01:49:02.040 --> 01:49:03.750
Sean Murray: As you said, you go
to Google.com.

2392
01:49:04.290 --> 01:49:04.800
Johny Fernandez: I do.

2393
01:49:04.830 --> 01:49:06.090
Sean Murray: But you're cause
you're looking at the

2394
01:49:06.090 --> 01:49:08.760
information. Yeah. And a lot of
people a lot of people do that.

2395
01:49:08.760 --> 01:49:11.790
Yeah. And they're gonna look for
pictures. Yeah. Pictures are

2396
01:49:11.790 --> 01:49:14.610
gonna tell them a lot more ideas
are gonna tell them a lot more

2397
01:49:14.760 --> 01:49:18.930
about what to expect from the
experience than just a tweet, a

2398
01:49:18.930 --> 01:49:22.320
text or just an article. Yeah.
Right. And so that was all that

2399
01:49:22.320 --> 01:49:25.080
was all missing. Yeah. During
the pandemic, because you

2400
01:49:25.080 --> 01:49:27.210
couldn't tweet where you
couldn't show where you were,

2401
01:49:27.210 --> 01:49:29.730
and what you were doing, because
no one was doing anything.

2402
01:49:29.850 --> 01:49:32.490
Johny Fernandez: And I think we
were able to capture some video

2403
01:49:32.520 --> 01:49:36.600
of, you know, going inside and
kind of checking that area out.

2404
01:49:36.840 --> 01:49:39.690
And the technology and the hand
sanitizer that they were giving

2405
01:49:39.690 --> 01:49:42.660
out and the glasses. Yeah. And
it was it was a full on

2406
01:49:42.660 --> 01:49:45.900
experience, and which is why we
did this to show you guys at

2407
01:49:45.900 --> 01:49:49.170
home that we're not here what
this is, like, you know, this is

2408
01:49:49.170 --> 01:49:51.120
one of the first big events that
we've been to.

2409
01:49:51.150 --> 01:49:56.250
This is the first real, live.
Yeah. In person event that we've

2410
01:49:56.250 --> 01:50:05.490
done, so. Yeah. It's definitely,
it's been fun. I mean, I can't

2411
01:50:05.520 --> 01:50:08.370
really say anything else. It's
been great talking to different

2412
01:50:08.370 --> 01:50:11.400
people. And I think seeing, for
me, the highlight has been

2413
01:50:11.400 --> 01:50:13.890
seeing the types of people that
we've been able to interact.

2414
01:50:13.920 --> 01:50:16.980
Yeah. You know, people that are
actually here, internationally,

2415
01:50:16.980 --> 01:50:21.510
like I spoke with one woman that
she, you know, works for a

2416
01:50:21.510 --> 01:50:25.050
European based company, but they
have an office in Atlanta, but

2417
01:50:25.050 --> 01:50:28.620
they're looking to, you know,
kind of grow, you know, not only

2418
01:50:28.620 --> 01:50:31.170
in the States, but also in
Europe. Yeah. So that was

2419
01:50:31.170 --> 01:50:34.200
interesting, because it just
goes to show you that, you know,

2420
01:50:34.200 --> 01:50:38.460
you may think it's just like the
Southeast area, but it's

2421
01:50:38.460 --> 01:50:41.280
actually like internationally,
so you never know, you're gonna

2422
01:50:41.280 --> 01:50:44.760
be able to meet. Yeah. Here, in
these type of events.

2423
01:50:44.790 --> 01:50:46.590
Sean Murray: I said,
anecdotally, this morning, I was

2424
01:50:46.590 --> 01:50:49.680
talking about if you're, if you
work in the working capital

2425
01:50:49.680 --> 01:50:55.680
space, that the opportunity to
meet a merchant acquirer is a

2426
01:50:56.280 --> 01:50:59.430
enormous, because you could end
up with a referral partner, that

2427
01:50:59.430 --> 01:51:02.160
gives you access to 10s of
1000s, or hundreds of 1000s of

2428
01:51:02.160 --> 01:51:04.530
businesses. And I think it's
great people hear that they're

2429
01:51:04.530 --> 01:51:07.380
like, oh, cool, but does it
actually happen? I'm not gonna

2430
01:51:07.380 --> 01:51:09.930
name names. I talked to a few of
the working capital providers

2431
01:51:09.930 --> 01:51:11.550
here. I'm like, you know, are
you getting anything out of

2432
01:51:11.550 --> 01:51:15.360
this, does this work for you,
and they're like, it works, you

2433
01:51:15.360 --> 01:51:16.770
know what I mean? Like, it's
kind of like the best kept

2434
01:51:16.770 --> 01:51:20.160
secret in a way, like they go
out there. And they, they say

2435
01:51:20.160 --> 01:51:21.990
that they're coming to the show,
but maybe maybe they don't

2436
01:51:22.020 --> 01:51:23.730
overhype it too much, because
they don't want to give away

2437
01:51:23.730 --> 01:51:25.470
that, hey, this is where we're
getting our business from. And

2438
01:51:25.470 --> 01:51:27.750
so if yeah if you work in the
working capital space, the

2439
01:51:27.750 --> 01:51:30.450
opportunity to partner with the
payments company, get access to

2440
01:51:30.450 --> 01:51:33.360
10s of 1000s, hundreds of 1000s
of merchants, it's a real thing

2441
01:51:33.360 --> 01:51:35.760
and people we've spoken to here.
That's why they're coming to

2442
01:51:35.760 --> 01:51:38.520
this show. Like, they're not
just coming here, because it's

2443
01:51:38.520 --> 01:51:41.190
Bonita Springs, Florida, and
it's the end of pandemic, these

2444
01:51:41.190 --> 01:51:43.530
are companies that have been
going to this show for years,

2445
01:51:43.530 --> 01:51:46.230
some of them for more than 10
years. And they're going here,

2446
01:51:46.290 --> 01:51:49.020
because they get value of
working with the payments

2447
01:51:49.020 --> 01:51:52.020
industry, it was born out of the
whole thing, and so I think

2448
01:51:52.020 --> 01:51:54.120
that's that's another takeaway.
I think we even heard from

2449
01:51:54.180 --> 01:51:57.930
Andrew earlier and Altschuler,
he said that he thinks that that

2450
01:51:57.960 --> 01:52:00.600
will continue to increase. So
we'll get more working capital

2451
01:52:00.600 --> 01:52:02.970
funding companies here you know
intermingling with the payments

2452
01:52:02.970 --> 01:52:04.440
firms, because the opportunity
is still there.

2453
01:52:04.800 --> 01:52:07.530
Johny Fernandez: Yeah no, and it
will be definitely interesting

2454
01:52:07.530 --> 01:52:12.210
to see how this space changes
throughout 2021. So I think that

2455
01:52:12.210 --> 01:52:15.870
is I'm extremely happy just
meeting everyone here. And

2456
01:52:16.110 --> 01:52:20.010
really just seeing what this can
turn into and what this has

2457
01:52:20.010 --> 01:52:22.980
turned into. Yeah. And also the
positive news that, you know,

2458
01:52:22.980 --> 01:52:27.810
it's grown. Yeah. This pandemic
has not stopped a lot of these

2459
01:52:27.810 --> 01:52:31.020
companies, and that they're
really going into full momentum.

2460
01:52:31.350 --> 01:52:33.930
And I'm excited to go back home
and really hit the ground

2461
01:52:33.930 --> 01:52:36.780
running with my type of work
just for meeting these guys so.

2462
01:52:36.810 --> 01:52:39.750
Yeah. What about you, Sean? Are
you, are you? What what's the

2463
01:52:39.750 --> 01:52:42.240
biggest takeaway out of being
here for you?

2464
01:52:42.840 --> 01:52:45.180
Sean Murray: That we will be
doing more of these. You know,

2465
01:52:45.180 --> 01:52:47.520
this isn't a one time thing like
oh, deBanked is doing a live

2466
01:52:47.520 --> 01:52:50.730
stream from the Southeast
Acquirers show, this is not a

2467
01:52:50.730 --> 01:52:54.090
one time deal. We'll be doing
this more often. You know, this

2468
01:52:54.090 --> 01:52:57.780
is the first first time we've
done an off site. At an actual

2469
01:52:57.780 --> 01:53:00.330
event, we did an off site where
we spoke to some funders and

2470
01:53:00.330 --> 01:53:02.370
brokers in the in the industry.
Remember, we did some we did

2471
01:53:02.370 --> 01:53:06.030
some interviews and stuff. We're
gonna do continue to do more of

2472
01:53:06.030 --> 01:53:09.480
that. Yeah. We're going to,
we're going to continue to do

2473
01:53:09.480 --> 01:53:14.550
more of that. At events. This is
the first major one. And I think

2474
01:53:14.550 --> 01:53:17.190
it was a great experience.
Honestly. It was. It was a good

2475
01:53:17.190 --> 01:53:21.450
energy here. A lot of positive
things here. People were, are

2476
01:53:21.450 --> 01:53:23.790
into it. You know what I mean,
we had a lot of people want to

2477
01:53:23.790 --> 01:53:27.330
be on camera. Yeah. And stuff
like that and so and overall, I

2478
01:53:27.330 --> 01:53:30.090
think the takeaway is that we're
going to be bringing people, for

2479
01:53:30.090 --> 01:53:32.430
those of you who can't come.
Yeah. Cause we were just talking

2480
01:53:32.430 --> 01:53:36.090
about social media, we were we
are going to try to bring that

2481
01:53:36.090 --> 01:53:38.790
experience to you. And you know,
you can decide if this is

2482
01:53:38.790 --> 01:53:41.460
something that you want to want
to be a part of, right. So yeah

2483
01:53:41.460 --> 01:53:44.070
you can go on the Instagram, you
can go on you can do you do all

2484
01:53:44.070 --> 01:53:46.470
the articles and all that stuff.
But we're also gonna bring the

2485
01:53:46.470 --> 01:53:49.530
video component to you and try
to you know, make make that

2486
01:53:49.530 --> 01:53:52.920
experience come to life. Yeah.
And in the best way that we can

2487
01:53:52.920 --> 01:53:56.040
and we hope that it adds value
to what everyone out there does.

2488
01:53:56.040 --> 01:53:57.870
Johny Fernandez: Yeah, so you
can check us out online on

2489
01:53:57.870 --> 01:54:00.300
debanked.com. Obviously, if
you're watching this, you're

2490
01:54:00.300 --> 01:54:03.390
already there. And also our
social media platforms on

2491
01:54:03.390 --> 01:54:07.950
Instagram, Twitter, LinkedIn. I
think that's all of them, it

2492
01:54:07.950 --> 01:54:09.630
should be right Instagram,
Twitter, LinkedIn.

2493
01:54:10.140 --> 01:54:11.550
Sean Murray: And Google.com.

2494
01:54:11.940 --> 01:54:15.360
Johny Fernandez: And Google.com.
Don't forget Google.com. So

2495
01:54:15.360 --> 01:54:18.150
that's it for us here. Again,
I'm Johny Fernandez, it's been a

2496
01:54:18.150 --> 01:54:21.270
pleasure guiding you guys
through this conference. And who

2497
01:54:21.270 --> 01:54:21.660
are you?

2498
01:54:21.900 --> 01:54:22.980
Sean Murray: Sean Murray.

2499
01:54:23.130 --> 01:54:25.110
Johny Fernandez: All right, and
we'll see you guys next time

2500
01:54:25.260 --> 01:54:27.060
here on deBanked TV.