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Viktoria S. Apr 22, 2024
Knowledge Share
Last active over 7 days
Last active over 7 days
Price should be the least of your concern...

It's devastating to see that even today, the main deciding factor when choosing a new payment provider or bank is still the price.
However pricing is a complex issue, and seeing the benefits which overcome pricing is not a rocket science. There are many other factors to consider: setup fees, monthly fees, yearly fees, settlement fees, settlement terms and times, transaction fees, and FX fees - just to mention a few.
A common tactic used by PSPs is “hiding fees”—charging extra under various pretexts to compensate for a lower MDR %.

However, the problems don’t stop there: low conversion rates, complicated UX flows, technical downtimes, poor or uninformed customer service, missed settlements, and automatically honored chargebacks can all turn out to be very costly.

These issues are often only discovered when it's too late.

Many non-monetary factors can impact the payment process, potentially making or breaking both customer acquisition and retention. Short-term price discounts might lead to significant losses in profit over the long term.

As a rule of thumb, reliable and robust channels usually are more pricey on the sort term but well worth it on the long run.
 
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Master C. Apr 21, 2024
Knowledge Share
Last active over 7 days
Last active over 7 days
Check out this podcast by Pro Member Viktoria Soltesz. Viktoria is the Founder of PSP Angels, an organization member of FinTech Connector.

Global Legal Law Firm’s podcast about Moving Money Book - talking about economy, the fiat system, crypto, payments and other banking subjects.

Here is the link to the podcast please comment, subscribe, and share to help Viktoria grow her subscribers and influence - https://youtu.be/F0R-rSl9sgk?si=3iltICv6rJoi4AGA

Mastering the Financial Frontier with Viktoria Soltesz | Moving Money (How Banks Think)...

Olesya Trusova interviews Viktoria Soltesz of PSP Angels!Embark with us as we navigate the intricacies of the financial world alongside Viktoria So...

 
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Master C. Apr 21, 2024
Community Announcement
Last active over 7 days
Last active over 7 days
We are happy to announce another great addition to our Community Partner family: Stuart Levine, our newest Community Partner in the United States. Stuart is based in New York and will join Scott Rosenblum, who we announced last week, to co-lead our largest US community.

Stuart has an extraordinary contact list of financial services and banking executives and fintech entrepreneurs as part of his network. Furthermore, he spent many years working with executives and entrepreneurs to tackle some of their biggest challenges - how to find the best resources to help them scale their financial services innovation and fintech products and services.

Stuart commented, "As a Fintech Professional for many years, I'm excited to work with the FinTech Connector team as a Community Partner in the New York area. I've been a member of FinTech Connector since its inception in 2016 and have followed its impressive global expansion, connecting Fintech Innovators and Enablers who are accelerating and improving the Financial Services industry for consumers and businesses around the world. I look forward to leveraging my fintech ecosystem connector experience to help fintech professionals and entrepreneurs grow and succeed via FinTech Connector."

Angel Lorente, Founder and CEO, commented, “I am excited to bring Stuart on board as a Community Partner. Stu is well-connected and has been an active member of our community and platform from the beginning. His expertise, connections, and advice are critical as we enter the next phase in growing our exclusive, global community where executives, experts, and entrepreneurs connect, collaborate, and cultivate innovation.”

Let's welcome Stu to the FinTech Connector familia!
 
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