Payment Guarantees

The payment services industry as a whole is not a very imaginative sector. It is a shame actually because there are some extraordinary talented people working diligently and never lifting the heads up to question the silly ideas about increasing moribund profits. Payment service executives fought tooth, claw, and wallet to protect the sacred interchange fee, without seeing that retailers begged for increased services. Retailers routinely sue the big payment networks, because the relationship, which at first was mutually beneficial, now is a mud fight inviting the oppressive hand of regulators to separate the combatants by force.

 So, I thought, heck, I can come up with some ideas that will increase payment system profits, and make retailers happy again.

1. Instead of a chargeback, offer no chargeback
2. Instead of fees for non-EMV conversion, sell secure payment system operating systems
3. Instead of batch submissions, give a real time approval and guarantee for type X100 messages
4. Offer private label card processing
5. Offer guarantees for international authorizations
6. Offer immediate transfer of tax receipts to tax recipients
7. Rent a bug to private labels
8. Talk to your customers and create products they demand, instead of saying pay me more for less service.

See, that wasn't hard, just put down your six shooters and have a cup of coffee with your old friends instead.

Next Blog: War and the Payment Hub