The Ledger
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Robinson: Debit fraud risk is simple velocity-based, not sophisticated AI
“And if you look and study risk in our business, it's not traditional sophisticated AI type fraud. It's simple velocity based fraud. Additionally, a lot of the banks, a lot of the issuers of the cards have tools you can use. So you combine what the network prov…”
Robinson: Visa grants TabaPay discounted rates due to incremental transaction volume
“I give Visa so much money, and I thank them every day for the great network they run, that this is incremental business they have because of our services. So as part of it, they give us lower rates that we pass on to our merchants.”
Robinson: TabaPay already meets corporate governance requirements for an IPO
“And so we don't have any work to do from a corporate governance standpoint to go public. In the payment industry, you have to do it anyway.”
Robinson: TabaPay processes nearly $9B across 75M monthly transactions
“We do now 70,000,075 million payments a month. This is right in close to nine billion dollars in payments a month.”
Robinson: TabaPay aims to pursue an IPO to reward employees
“This company in particular, I want to take public.”
Robinson: Instant payments carry greater transaction risk than slow payments
“Slow payments are less risky. Instant payments are more risky. So it's part of the instant payment mantra that you have to deliver a risk solution with it as well.”
Robinson: TabaPay touches a third of US households and 100M debit cards monthly
“We touch a third of American households every month. We have a hundred million debit cards that we process for”
Robinson: Payments are shifting from merchant pull to instant push
“Where payments are moving, is from this pull, cost and risk, to a push, instant, risk free. Right? So if you can establish consumer trust in the merchant, the consumer pushing money to the merchant, you've cut cost and risk out, you have the trust factor if yo…”
Robinson: Money movement lacks the invisible markups of physical goods
“Because in the end, when you're sending money, There's no invisible markup. When you're doing TVs, you can put a 20, 30% markup. Your consumer doesn't know what your profit is. When you're moving money, the consumer sees exactly how much you're charging. So th…”
Robinson: TabaPay will expand into Mexico next, then Europe
“And so we will follow them into Mexico. Okay. And try to lead them in Canada. We have merchants on both sides of the border processing. Same transaction, same businesses, slight different regulation. So Mexico's next. And then Europe.”