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Sep 22, 2019 · 15m · top-founders

1520 BlueSnap Wants to Help Merchants Compete with Amazon

Ralph Dangelmaier · 7m spoken Nathan Latka · 5m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this interview, host Nathan Latka speaks with BlueSnap CEO Ralph Dangelmaier about scaling global payment processing volume, managing fintech unit economics during a capital raise, and developing omnichannel tools that allow merchants to rival Amazon's seamless checkout experience.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 43.2% of the talking time here. How this is scored →

Nathan as informed peer 5.0 Guest teaching 3.3 Guest disagreement 2.7 Nathan pushing back 4.3
05100:0010:000:00–2:19 · Nathan as informed peer 4/10 Episode Overview: BlueSnap's Growth and Upcoming Products Nathan introduces the company and clarifies whether the product operates like Amazon Prime subscriptions or 1-Click checkout. Ralph politely explains it encompasses both capabilities.2:19–4:23 · Nathan as informed peer 5/10 FinTech Monetization and Transaction Revenue Economics Nathan probes into the exact take rate on payment volume. Ralph clarifies the economics, noting that card schemes and issuing banks take the bulk of the processing fee while BlueSnap takes pennies on the dollar.4:23–6:52 · Nathan as informed peer 7/10 Growth Metrics and Confidential Fundraising Dynamics Nathan aggressively presses Ralph on why he cannot disclose funding figures and challenges Ralph's claim that private companies do not file SEC paperwork. Ralph resists disclosure before clarifying they simply have not filed yet.6:52–9:13 · Nathan as informed peer 5/10 Global Self-Service Capabilities and Differentiating from Stripe Nathan questions BlueSnap's competitive moat against Stripe and pushes Ralph when he deflects with 'I don't know'. Ralph then details the engineering complexity of integrating 30 global banks alongside KYC and AML compliance.9:13–13:34 · Nathan as informed peer 7/10 Competitive Landscape in Global Payment Processing Nathan firmly pushes back against Ralph categorizing transaction-fee revenue as SaaS, distinguishing predictable volume revenue from true recurring seat and usage software models.13:34–14:27 · Nathan as informed peer 2/10 The Famous Five Rapid-Fire Questions Nathan runs through the standard Famous Five rapid-fire questions in a cordial, low-friction closing segment.0:00–2:19 · Guest teaching 3/10 Episode Overview: BlueSnap's Growth and Upcoming Products Nathan introduces the company and clarifies whether the product operates like Amazon Prime subscriptions or 1-Click checkout. Ralph politely explains it encompasses both capabilities.2:19–4:23 · Guest teaching 4/10 FinTech Monetization and Transaction Revenue Economics Nathan probes into the exact take rate on payment volume. Ralph clarifies the economics, noting that card schemes and issuing banks take the bulk of the processing fee while BlueSnap takes pennies on the dollar.4:23–6:52 · Guest teaching 3/10 Growth Metrics and Confidential Fundraising Dynamics Nathan aggressively presses Ralph on why he cannot disclose funding figures and challenges Ralph's claim that private companies do not file SEC paperwork. Ralph resists disclosure before clarifying they simply have not filed yet.6:52–9:13 · Guest teaching 5/10 Global Self-Service Capabilities and Differentiating from Stripe Nathan questions BlueSnap's competitive moat against Stripe and pushes Ralph when he deflects with 'I don't know'. Ralph then details the engineering complexity of integrating 30 global banks alongside KYC and AML compliance.9:13–13:34 · Guest teaching 4/10 Competitive Landscape in Global Payment Processing Nathan firmly pushes back against Ralph categorizing transaction-fee revenue as SaaS, distinguishing predictable volume revenue from true recurring seat and usage software models.13:34–14:27 · Guest teaching 1/10 The Famous Five Rapid-Fire Questions Nathan runs through the standard Famous Five rapid-fire questions in a cordial, low-friction closing segment.0:00–2:19 · Guest disagreement 1/10 Episode Overview: BlueSnap's Growth and Upcoming Products Nathan introduces the company and clarifies whether the product operates like Amazon Prime subscriptions or 1-Click checkout. Ralph politely explains it encompasses both capabilities.2:19–4:23 · Guest disagreement 2/10 FinTech Monetization and Transaction Revenue Economics Nathan probes into the exact take rate on payment volume. Ralph clarifies the economics, noting that card schemes and issuing banks take the bulk of the processing fee while BlueSnap takes pennies on the dollar.4:23–6:52 · Guest disagreement 6/10 Growth Metrics and Confidential Fundraising Dynamics Nathan aggressively presses Ralph on why he cannot disclose funding figures and challenges Ralph's claim that private companies do not file SEC paperwork. Ralph resists disclosure before clarifying they simply have not filed yet.6:52–9:13 · Guest disagreement 3/10 Global Self-Service Capabilities and Differentiating from Stripe Nathan questions BlueSnap's competitive moat against Stripe and pushes Ralph when he deflects with 'I don't know'. Ralph then details the engineering complexity of integrating 30 global banks alongside KYC and AML compliance.9:13–13:34 · Guest disagreement 4/10 Competitive Landscape in Global Payment Processing Nathan firmly pushes back against Ralph categorizing transaction-fee revenue as SaaS, distinguishing predictable volume revenue from true recurring seat and usage software models.13:34–14:27 · Guest disagreement 0/10 The Famous Five Rapid-Fire Questions Nathan runs through the standard Famous Five rapid-fire questions in a cordial, low-friction closing segment.0:00–2:19 · Nathan pushing back 2/10 Episode Overview: BlueSnap's Growth and Upcoming Products Nathan introduces the company and clarifies whether the product operates like Amazon Prime subscriptions or 1-Click checkout. Ralph politely explains it encompasses both capabilities.2:19–4:23 · Nathan pushing back 3/10 FinTech Monetization and Transaction Revenue Economics Nathan probes into the exact take rate on payment volume. Ralph clarifies the economics, noting that card schemes and issuing banks take the bulk of the processing fee while BlueSnap takes pennies on the dollar.4:23–6:52 · Nathan pushing back 8/10 Growth Metrics and Confidential Fundraising Dynamics Nathan aggressively presses Ralph on why he cannot disclose funding figures and challenges Ralph's claim that private companies do not file SEC paperwork. Ralph resists disclosure before clarifying they simply have not filed yet.6:52–9:13 · Nathan pushing back 6/10 Global Self-Service Capabilities and Differentiating from Stripe Nathan questions BlueSnap's competitive moat against Stripe and pushes Ralph when he deflects with 'I don't know'. Ralph then details the engineering complexity of integrating 30 global banks alongside KYC and AML compliance.9:13–13:34 · Nathan pushing back 7/10 Competitive Landscape in Global Payment Processing Nathan firmly pushes back against Ralph categorizing transaction-fee revenue as SaaS, distinguishing predictable volume revenue from true recurring seat and usage software models.13:34–14:27 · Nathan pushing back 0/10 The Famous Five Rapid-Fire Questions Nathan runs through the standard Famous Five rapid-fire questions in a cordial, low-friction closing segment.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 48.4% · guest 51.6%0:00 · Nathan 48.4% · guest 51.6%3:00 · Nathan 48.8% · guest 51.2%3:00 · Nathan 48.8% · guest 51.2%6:00 · Nathan 34.4% · guest 65.6%6:00 · Nathan 34.4% · guest 65.6%9:00 · Nathan 27.1% · guest 72.9%9:00 · Nathan 27.1% · guest 72.9%12:00 · Nathan 58.5% · guest 41.5%12:00 · Nathan 58.5% · guest 41.5%15:00 · Nathan 0% · guest 100%15:00 · Nathan 0% · guest 100%
Sharpest disagreement ▶ 5:36 Refusal to disclose private round paperwork

Ralph repeatedly shuts down questions about their funding status, insisting that as a private company they do not have to disclose any details.

 Hardest push from Nathan ▶ 5:39 Host pushes back on SEC exemption claim

Nathan refuses to accept Ralph's claim that private venture-backed companies avoid public filings, citing thousands of past interviews and standard regulatory databases.

 Biggest teaching moment ▶ 8:34 Breaking down global banking and AML complexities

Ralph educates Nathan on the friction of building a global payments network across 30 international banks with AML and KYC compliance checks.

 Nathan holds their own ▶ 11:55 Host corrects guest on SaaS business model classification

Nathan demonstrates software industry expertise by dismantling the guest's attempt to label standard credit card transaction fees as SaaS recurring revenue.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Episode Overview: BlueSnap's Growth and Upcoming Products 4312 Nathan introduces the company and clarifies whether the product operates like Amazon Prime subscriptions or 1-Click checkout. Ralph politely explains it encompasses both capabilities.
FinTech Monetization and Transaction Revenue Economics 5423 Nathan probes into the exact take rate on payment volume. Ralph clarifies the economics, noting that card schemes and issuing banks take the bulk of the processing fee while BlueSnap takes pennies on the dollar.
Growth Metrics and Confidential Fundraising Dynamics 7368 Nathan aggressively presses Ralph on why he cannot disclose funding figures and challenges Ralph's claim that private companies do not file SEC paperwork. Ralph resists disclosure before clarifying they simply have not filed yet.
Global Self-Service Capabilities and Differentiating from Stripe 5536 Nathan questions BlueSnap's competitive moat against Stripe and pushes Ralph when he deflects with 'I don't know'. Ralph then details the engineering complexity of integrating 30 global banks alongside KYC and AML compliance.
Competitive Landscape in Global Payment Processing 7447 Nathan firmly pushes back against Ralph categorizing transaction-fee revenue as SaaS, distinguishing predictable volume revenue from true recurring seat and usage software models.
The Famous Five Rapid-Fire Questions 2100 Nathan runs through the standard Famous Five rapid-fire questions in a cordial, low-friction closing segment.

Statements from this episode (7)

Assertion Supported
BlueSnap helps merchants offer frictionless checkouts similar to Amazon Prime
“What we do is we provide technology that allows any merchant to be able to offer that type of service to their shoppers. So it's as simple as checking out with Apple Pay or wallets or topping off cards. It looks just like Amazon prime. That's what our technolo…”
Ralph Dangelmaier Sep 22, 2019 ▶ 1:31
Assertion Not checkable as stated
Payment processors keep only pennies of a standard $3 fee, says Dangelmaier
“So if there's a hundred dollars that goes to the system, in a simple example the merchant might pay three dollars. That three dollars, you know, 99% of it is going to the issuing banks, to the banks, into the card schemes. We get a tiny, tiny percent of that, …”
Ralph Dangelmaier Sep 22, 2019 ▶ 2:51
Assertion Not checkable as stated
BlueSnap is currently experiencing triple-digit growth, says CEO Ralph Dangelmaier
“We're in significant triple digit growth rate right now, which is awesome.”
Ralph Dangelmaier Sep 22, 2019 ▶ 4:46
Disclosure
BlueSnap recently closed an undisclosed funding round, says CEO Ralph Dangelmaier
“We've actually done some recent funding and it's not allowed to be discussed.”
Ralph Dangelmaier Sep 22, 2019 ▶ 5:00
Assertion Partly supported
Stripe requires separate country integrations while BlueSnap uses one, claims Dangelmaier
“Well, Stripe is, is it's similar to what Stripe does because Stripe does that in a single country. What we've done is we've been able to globalize it through many countries through one integration. So with Stripe, you have to go do it say seven times against s…”
Ralph Dangelmaier Sep 22, 2019 ▶ 7:46
Disclosure
BlueSnap plans to launch an omnichannel payment product next year
“One of the other big product launches we're going to do next year is around what we call omni channel, which is the ability for a merchant to be able to process through one channel, the ability for having an online website and an in-store payment.”
Ralph Dangelmaier Sep 22, 2019 ▶ 10:18
Assertion Not checkable as stated
Amazon employs hundreds of people globally just on one-click checkout
“Amazon's got hundreds of people that are focusing on one-click checkouts globally, and that's the checkout part.”
Ralph Dangelmaier Sep 22, 2019 ▶ 13:11
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