Merchants

“The question, at least in my experience and everything that we hear from, you know, clients and merchants is typically less to do with go book me a plane ticket. It almost always starts with a much, much broader funnel of discovery”

“I think for six months, I think we got like 10 merchants to use us. Like there was no, there's not much uptake into the idea at all.”

“A big misconception is that the reason payments are maybe more expensive than some merchants would like them to be online is because visa takes such a big cut. That's not true at all. One of the reasons that maybe payments, card payments might be a little bit …”

“There's a massive, Demand right now from merchants to consolidate the amount of applications in their tech stack, the amount of third party tools. They're practically begging for it.”

“Merchants lose about fifty five billion dollars a year to chargebacks.”

“So I think the innovation is not going to be on the merchant side, ah, because why? The innovation is going to be in the wallet side, because if you look at what Apple Pay has done, it is a personal, individual checkout that works in every country, in every me…”

“Amazon does not treat the seller on their platform as a tier one customer. Their job is to help the customer, the consumer at the end of the day.”

“And I think we're going to see a lot of like, what are the apps that are just like vaporware and not really doing anything to contribute to a merchant's bottom line? What are the companies that haven't been able to add value when they buy up these apps?”

“Most of the merchants, the small entrepreneurs in Brazil are 100% offline.”

“We were seeing self-service sign up, you know, almost like almost 70, 80% of the merchants, they were coming in, signing up, putting their address paying money into a wallet without a single human intervention, right? It was all happening in a few hours of the…”

“And a specific choice we've made that we never want to be at the forefront. We never decided to run our own wallet or run our own payment methods. We always made a very clear distinction, a very clear focus. Our role is to help merchants grow.”

“And actually, you know, in Australia, where interchange went down dramatically, it's like 50 basis points. Rewards went away. You didn't get your miles anymore. And then it was a giant transfer of wealth from the banks to the merchants, but none of that went b…”

“Well, if it goes to the merchant, then it will go to the consumer. And it might not be a complete hundred percent pass through, but I'd say that the transfer of wealth will make it its way to the consumer. It just always does.”

“And, you know, and a lot of people thinks the merchants pay that. I believe the consumer pays that, you know, just because the merchants pass on the cost, you know, for their profit margins.”

“I think one generation ago, the majority of the transformative businesses in these sectors were built by merchants. I would say today they tend to be built by really strong marketers, really strong brand and creative individuals.”

“Our whole sales model is strictly channel based. We don't work directly with any merchants, even though we're accountable for the results for that merchant.”

“When you talk to merchants about this, they see it as a marketing. Yes. For them, it's like, oh, it's not the payments. You know, we are not talking about basis point of cost. For them, it's the marketing instrument to sell more.”

“What we've done is we've partnered with about 460 merchants now that cut us a piece of the transaction, because basically we are getting them inside of the corporate gifting budgets, which they have no no way of getting into otherwise. So they cut us anywhere …”

“Eventually, we will probably turn this into more of like a bid, bid for play thing... Which one am I going to show first? I'm probably going to end up showing the one that shows more margin, or gives us more margin, so obviously in the end it can end up becomi…”

“We have over 300.”