VIDEO TRANSCRIPTION
Hey everybody. It’s Justin Live from B2B Vault, the payment technology podcast with your host, Allen Kopelman! And we’ll be providing you with educational information about business, payments, FinTech, decentralized finance and the technology businesses use in today’s world. And in today’s podcast, we’re going to be talking about the end of the credit card machine in many businesses and how
technology is changing when you go into a store and pay for something. Allen, take it over bro! All right, last week I went to a convention because I have to get educated too. So, they had over 106 different vendors there at Southeast called the Southeast Acquire Show that a really good keynote speaker.
That guy was really good. Eric Qualman. Yeah! And he, his story was that he went to work at Yahoo, so it was interesting. And they gave everybody’s email address, the first letter of their first name, and then their last name. So that’s spelled out equal, man. So, they used to make fun of him, and everybody called him Equalman,
and he was like, had this so he pretended to be like a superhero. Cool! So, he said sometimes you got to step into it. And now he became a professional speaker, and he wears these green glasses all the time. Because somebody once gave him green glasses and that’s become his persona Equalman, his green glasses and he’s Equalman, but he gave a really good speech.
Sometimes you gotta step into it. That’s like why I started the podcast! Step into, my voice and let my voice be heard and provide education. While I was at the show, a lot of people came up to me that are in the business and they say, wow, I listened to several episodes of the podcast.
I learned a lot about different subject matter that we talk about, a couple of people, especially about CBD things that they did not know. That’s good. They didn’t have a clue about it, so it was really good to hear a lot of positive feedback about the podcast from people in the industry, some of them in the industry for a really long time.
And they said, they really enjoyed the way I and you interact. And now because you know we bring a unique twist to the podcast and that we both own businesses. Besides, being in the payment business, I owned a restaurant, a consulting company, a catering company side experience, and being a merchant.
And you had a website company, so you had an experience in being a merchant. Correct! So, we just bring that unique quality to the podcast. We’re had businesses, so we can relate to what business owners have to deal with. And we can relate because we want to get paid.
Right. and then Justin has been here for almost a year now. And he’s learned a tremendous amount about the payments business in that time. That I have! Yeah. And it’s been an educational experience for him. It has, I was just telling Samantha earlier last week, or this week, about how much just in general, as a business owner, you just look over, it’s okay, I’m getting paid. It is what it is. I don’t really, I didn’t care enough to look into a merchant account. And man, I left a lot of money on the table. A lot of money! There are a lot of ways we could have; I could have set up payment processing for all the businesses that I was set.
The websites that I was building, were just a lot of lost opportunities where it would’ve been good to know or educate myself on financial technology sooner. Yeah. I met with a guy today who is a website company. They’re just giving money away all day. I was like, what are you doing? You’re just, you’re setting up tons of people with websites.
Yeah! And you’re not getting a piece of the payment by, we have referral partners and that’s a really important part of our business. To help referral partners and help people grow their business and grow our business at the same time, they don’t have to really do anything other than provide referrals.
So the other day, Provide referrals! Me and Justin were talking, and the guy said to me, that somebody was meeting with us and he says, what do you tell people when they say, what do you do? So Justin said, quick, go write that down. Then I said, yeah, no, he did drop the quick jewel. So I said, hi, my name is Allen I’m with Nationwide Payment Systems and we help businesses
find out-of-the-box solutions and technology to help them run their businesses more efficiently. That basically describes what we did. It’s a really good description right. And, speaking of efficiency, when I was at the show, it was interesting. I had a lot of conversations with people and there were a lot of technology companies there I was talking to them and there were a few technology companies that weren’t there at the show that I had talked to before the show.
And it’s interesting what people are talking about, but one of the things that seem to be a really hot topic is One: QR Code. Okay. So QR codes, it’s gone. Crazy. We started doing QR codes like 10 years ago. Yeah. And nobody knew what a QR code was and he’s a QR code. Now everybody wants a QR code. In fact, some guy called me one day.
He’s oh, I’ll give you 300 bucks. Show me how to make a QR code. I was like, dude, I cannot take your money! QR codes have like advanced though. Like we, we went from using them for a really basic purpose. Now it can just basically connect you to a web address. Yeah, exactly. And so, in that sense, it hasn’t really changed, but like we’ve really, it’s being put to a lot of good use right now.
Like now restaurants are dealing with unprecedented, price changes from their vendors. Every, almost every restaurant I go to. You scan a QR code to look at the menu so they can change the prices. And let me tell you, that’s a better way to do it because I went to eat recently at another restaurant, and they had little stickers over every menu item.
It was a little embarrassing because my menu had stickers on it. The person next to me, their menu had the old prices and I’m not a sticker. I’m going to give it, the business made a boo-boo of where somebody ripped the stickers out. Just go to the QR code menu, go to QR code menus!
It’s just not one. I’ll say it’s good for the environment. Yeah. But you can’t these menus, these restaurants can’t afford to print menus every week. Every couple of days, I was talking to a guy who was telling me that it’d take chicken wings off the menu. His chicken got so expensive.
Yeah. Chicken wings. Chicken. Yeah. Chicken wings were so expensive. See something that’s expensive. What a bag of organic honey crisp apples are $10 and 99 cents go to Costco, dude, almost cried. I can’t have an apple now you gotta figure this inflation stuff out real fast. I don’t know who’s in charge of it all, but you gotta figure that.
Instead of having meetings, about BS, forget a meeting. No, I’m talking about let’s talk more action. They need to not have meetings. My boss, when I worked in the hotel business, I’ll never forget this. My boss came into the room one day and he goes, we have a meeting, and we make a decision and I’ve taken that in my life forward.
Justin knows that Samantha’s sitting right there. It’s good. We have a meeting philosophy. We make a decision, and we move forward. Now, obviously, if it’s something that’s going to cost thousands of dollars, you might have to think about it for a couple of days. But most things that you do in your business are not thousands of dollars.
It’s you need to make decisions. You don’t need to; you don’t need to sleep on it. Don’t sleep on it. Washington DC makes some decisions, but QR code is going crazy and QR code payments, and everybody’s trying to figure it out. Like you go eat at a restaurant. They give you a receipt, It has a QR code.
You click, and you take a picture of it. It takes you to a little page, you put in your information and it’s, and you make your payment. It’s bulky in my opinion. It’s because it’s just it’s too many steps. Okay. No, but they got to figure out how to connect it to, so there are, it has to be connected straight to the checkup.
Like once it goes. It has to be able, they have to be able to integrate it into a system somehow, to wear as the total is already there. And as soon as you send it out, all you have to do is put in your credit card information. Your right, but they should click, they should set it up. So it’s detecting the wallet in your phone, something, we have text payments, that we’ve been selling for a couple of years now, text, email payments. And when somebody receives it on their computer or they receive it on their phone, it detects the browser. And detects what you have. So if I get it and I open it up on my apple phone, it detects that I have the apple wallet and then I can let’s hit the button and make my phone, I guess that, yeah, no, that, that does that for me too.
I got the Google pay. But not every software works like that, and people are making advances to make it better. The other thing is. But that’s up to the business owner too, to make no, it’s not the business owner. The business owner needs to make those advances, it’s the software companies that make those things that need to do a better job.
And they also need to make these payments so that they’re not key entered and that they’re card-present because businesses are paying an enormous amount. Explain it, explain. Okay. So when those cards are present your interchange fee is. When it’s non-card present mean key entered, the interchange fee is key entered.
Explain that one for the one. Key entered is because you’re punching in your credit card number by hand. So that’s what I’m saying. So just making just like buying something from a website, that’s what I’m saying. Is the key entered the part of the right, the transactions they’re key entering it, but they need to remove that, and they need to also?
They need to make advances and the card brands need to make changes. Because these are card-present transactions, merchants are getting friendly, fraud, chargebacks, and the end of the credit card machine is going to come. There are going to be fewer and fewer credit card machines. Why do you think the credit card companies aren’t
really pushing it’s some of these it’s for technology, base and that’s not up to them. They don’t, that’s what everybody thinks. Oh, Visa does it Mastercard. They don’t do anything, and they don’t do it. That yet that’s obvious to you now, but right. Not to everybody else. It’s up to the technology companies out there to figure out the technology.
As we saw, I saw a guy sent me some, saw some software and hardware. We’re going to test it out,
it’s like a little device. You can just, all you need is an iPad or a phone. You can send a payment to that device. The person can just tap their card or tap their phone and do it, but and see, but we want to see how it shows up on the back end.
And then another guy is doing a demo for me this week, and it’s a text payment platform. So, I could, and I could just send you a text message. You receive it, now it’s detecting your phone and it’s doing like a bunch of stuff. It’s identifying that is your phone, the phone, and the credit card match together.
That’s right. The bank. There’s a token. And supposedly I’m not going to say it does, or it doesn’t until we test it, that the card is gonna show up as a card-present transaction. Now, if that shows up as a card-present transaction, that’s going to be a winner. That’s going to be a game-changer. POS systems are gonna want to integrate that into their system.
Merchants are going to want to use that because it’s going to be the safest transaction out there. Sounds like we’re gonna test. And see how it works. We’re going to test the train or we’re gonna put it to the test. We’re going to put it to the test and see how it works. And if it works, then we’re going to test it in a few merchant locations.
And if it’s successful, we’re going to do a big rollout. NFC transactions, this tap, and pay. It’s not new tap and pay was around years and years ago, but they were. R I F D chip and that was a radio frequency. And then some guy there’s a famous video on YouTube where this guy walks through the mall with a backpack, and he steals.
Everybody’s credit card, everybody’s credit card. And that’s why they have those special wallets. You don’t need those anymore. Yeah. The contactless payment. Now tap and pay with your phone and tap and pay with the card. You have to be within an inch of the machine. Sometimes you have to even touch it.
Yeah, my, it’s literally tapped to pay. Most of them are like you got, yeah, you have to touch it. They want it’s close. So that way, no, one’s stealing that out of your phone. We rolled out the ability to do NFC back in 2015, maybe even, when the EMV went into effect. And we rolled that out and we saw with the younger audience, people were paying with Apple Pay, Google Pay, and Samsung Pay.
They were all doing that on the machines where you had younger clientele, but now the pandemic has accelerated all of that right now, everybody, nobody wants to hand over their credit card. They don’t want to stick it in the machine. They just want to tap it and go or use their phone and go, and so now, because in the beginning, the older crowd wasn’t interested, every credit card I get now is all tap and pay all have the tap feature in it. I need it, my debit card didn’t work for a long time though. And they need to get rid of the mag stripe.
They need to get rid of it. Yeah. They need to take it off the card. It’s pointless if you’re not going to, if you don’t use it like at all then it’s not that, there are merchants who are getting ripped off. That too. Yeah. People damage the card and then they, the employees not educated, and they swipe it through the machine
because the fraud starts says, no, swipe it. It’s fine! Then they swipe it and the transaction goes through and then they get a chargeback. So it needs to be removed. Because the credit card companies, the card issuers, you’re not doing anybody any favors. Leaving this mag stripe on there. They’re not doing any, you’re not doing a favor, you’re not doing a favor to the merchants.
That’s for sure! Nearfield communication is big and it’s going to continue to get big. And I think that we’re going to see some tech companies come out with all types of different ways to use this kind of thing. And even Apple is coming out with the next phone. I don’t know if it’s going to be on this next phone or the phone after.
And Google also. And the Android phones and this phone or the next phone there’s a tap to pay right built into the phone. I don’t know how that’s going to play out. And there’s also a problem we have, I’ve talked to three or four different. Credit card companies who are all getting ready to do this, tap to phone thing.
Some of them have oh, you put a little sticker on the back of the phone. It tells you where to tap the card or where the NFC reader is because it’s on the back of the phone. But I, listen no more, people have to run around with a little dongle and keep it charged up.
They’re putting this tap to these tap cards out faster than you can shake a stick. So, if they’re, if everybody’s going to have a tap card, I think almost everybody has these cards now. Pretty much. Yeah. Okay. They, that just accelerated with the pandemic, so it accelerated that touchless.
You’re not going to have to have, you’re not going to need a credit card machine pretty soon. It’s gonna be very interesting to see how the adoption level of that actually goes down. Yeah, I’m young enough to be cool with technology and all that, like when it comes to paying with my watch.
Yeah. I don’t know, people do it! No, I know people pay with the watch. You go to Disney, so they give you a bracelet. If you don’t know enough like with Apple Pay, right? Yeah. Like how do people literally get their checks deposited on their Apple Pay Account? No, they just take you to put your, you just put, so then you transfer money or four credit cards into your Apple Pay and you just have all your credit cards.
So, it’s cash app in a, so then you just attach your bank account or your credit card to your cash app account, and then you load money onto no, you don’t do anything. Apple Pay is just the application. You could have three credit cards. So, what’s the, what is the point? So, you could pay with your credit card.
You don’t have to carry your wallet. What is the point of using Apple Pay? You don’t have to have a wallet. You don’t care, put a wallet in your pocket anymore. No. Need a wallet. That’s it. You can, yeah, no need a wallet. And that’s why they, everyone had with their Apple watch. They just pay with their Apple watch.
Yeah. They just pay with their watch; they have three or four credit cards in there and it’s. And they pay it, but Apple even has their own just for not having a wallet. That’s literally the only point of it. Pretty much you don’t, there’s no incentive, I don’t get well cashback. The Apple. Yeah!
Every, I have credit cards, and they all have cash back. Cause it’s not. Okay. So, Apple Pay is not a payment processing company? They are somewhat they do it too. You can accept Apple Pay directly. I just don’t know with merchants, like that’s way too many deposits. That’s what I’m saying.
You’re never going to be able to keep track of that. It might, that might work for A small, tiny little business. That’s not going to work for somebody that’s running a good size business, doing a few hundred transactions a month. You’re just not going to be able to keep up with Apple Pay cash Venmo, Zell.
Yeah! You’re not going to be able to keep up with that. It’s crazy, Square! No, but I’m saying Apple Pay for me is a consumer. I could put, I have 3, 4, 5 credit cards in there, but right. Why though? So I don’t have to carry them around with me I just had my phone. I went out for, I went out for a run when I was in Atlanta, walked back, went to the coffee shop, and paid with my phone enough to carry my credit card with me. That makes sense. There are some hotels now, when you check into the hotel, you have an Apple, you have the app iPhone they just put the code on your phone, which opens the door. I’ve seen that! Yeah. They send you; they send a little token to your phone.
You put it, you just add it to your Apple Pay and you can open the door. I went to a concert, the same thing they sent, and I downloaded the tickets to my Apple Pay. I got there and opened it up. Boom! They scanned the QR codes, and I went inside. And Apple Pay is about to do buy now pay later, right? Yep!
They’re talking about buy now pay later a lot. And a lot of the buy now pay later, companies are all going to start. They’re starting to issue credit cards. Right! Get, but we’ll see, listen to Karma just, or wherever is Karma. Yeah, they just sent me an application, to be an early adopter to the yeah.
Buy pay later it’s a growing thing. I don’t know if the interest rates are going to hold because now the fed went up on the interest rates. I heard an interesting explanation. They’re like, oh-oh, if we are going to raise interest rates, then demand is going to go down. And then prices will go down.
Does not work. Okay! That does not work. It has never worked. It’s been tried before and by various times in our economy and that never works. The only thing that ever works is trickle-down economics. Yep. That’s it. When you have trickle-down economics, you have a healthy economy. The companies that are making money, that all trickles down to the employees that trickle down to everything, but they gotta get the, in the United States, we gotta get the gas down and the supply chain working.
So, we’re real quick before you hop into the next topic, I just want to say thanks to all the subscribers and the followers on social media, we reached a hundred Instagram followers today. Woo! And the crowd goes wild. Shout out to the B2B Vault family out there. Thanks again. Please subscribe to the videos on YouTube, just Google B2B Vault, or go to B2B Vault YouTube and type in B2B Vault will pop up
Number One! We’re there for you to get all your business payment technology information that you need to look nowhere else. No other podcast is as cool or as informative as ours. So kick rocks, other payment processors, and podcasts. We’re on every social media networking platform just type in B2B Vault
we’re right there! We show we pop up right away. Join the community on Facebook, the B2B Vault community. There’s going to be some special stuff that we’ll be posting on there once we get a little bit more followers. Yeah! Brand new giveaways. Yeah. We’ll have some giveaways coming as brand new. So, we really haven’t pushed a lot of content into it, I did tell people like I went on there, and I did a father’s day video.
That was cool! Post your dad jokes, you can still go do it. Yeah. And you hear this when you’re listening to the podcast, go check out the group and you’ll see the post about Father’s Day in the group. Give us a good dad joke and B2BVault.info. There is a apply now button up there. If you’re looking for merchant services, obviously
Nationwide Payments Systems provides that service. We can help, consult your business and get you up and running so that you’re collecting money as efficiently as possible and making as much as possible. Exactly. And we give everybody a free 15-minute consultation. You can go to NPS Bank.com and click on the appointment button for that, or B2BVault.info.
You can, you could connect us with us from there. Exactly. Thank you. So, technology’s just changing at a rapid pace, right? All these, the big term, Justin always tells me, he goes, I never heard the term FinTech so much. It’s in the last, oh my God. FinTech. It’s a little annoying,
I’m not going to lie. Yeah!
Everything was FinTech. All these companies, people want to get. It’s like I was talking to another guy today and they were saying like, Hey, we want to. We want to have, we want to create, we’re creating like our own type of website that people can buy. And then we want to incorporate our own private label payments in there.
And we say, hey, we can show you how to do that. We can show you how to do that. First, you crawl, then you walk, then you run. Yep! But we can show them exactly how to put all that back together. So, the speed that everything is moving at right now from a technology standpoint, everything’s moving rapidly faster, and the labor shortage that’s going on right now is startling.
I was in Atlanta… I want to tell you the hotel didn’t have enough waiters. They didn’t have enough staff. The restaurants in the area all told me that they didn’t, I saw empty tables. They go, how come you can’t see us? We don’t have enough waiters.
We don’t have enough staff in the kitchen. It’s crazy. That’s sad. Yeah. It’s sad. What is, what is everybody. I don’t know, they’re not working, but what are they doing for money then? I have no idea. And I went to a restaurant in my neighborhood, I went there. There are empty tables, everywhere. The guy goes, I can’t seat you.
I go, why there are no waiters? He goes, I have three waiters. My wife is even working. And his kids, he goes, I don’t have enough help. Can’t find people to. How do you have to be to work in Florida? Just randomly, I’m sorry. Be 16. Okay. I don’t think you can work past a certain amount of time at night at that point.
My 14-year-old is just, she’s just done. She just wants to make some money. And I don’t, I’ve given her a lot of, I’m an entrepreneur, so I’ve given her a lot of ideas and unfortunately, she doesn’t really want to do him. So I figured the only way that she’s going to learn that these were good ideas is like going to be like a dishwasher or something.
That’s how my very first job was as a dishwasher. I worked there for three hours. Maybe the guy, the owner of the cafe, walked into the kitchen. He could obviously see the stress on my face and he said, son, just don’t quit during the middle of your shift, finish your shift out for me.
I’ll pay you straight out and I don’t expect to see you tomorrow. And that’s exactly what happened. He, it just wasn’t for me, right? Yeah. McDonald’s was the same way. McDonald’s was not for me nine to five aren’t for me, right? Yeah. This is a different type of gig. What I’m doing with you, right? Yeah. Like it’s a.
It’s just totally different anyway. And we don’t come in at nine, unless we have yeah, but try just different. That’s all, man. It is just, yeah, just doesn’t work for these kids too though. If there’s a problem with employment and there are not enough people to work. The Lord’s age, I’m not saying to put your kids to work when they’re 12, right?
The problem is in a restaurant. If they serve liquor, they can’t bring the, no, they can work there. They can’t bring liquors to the table. So, I don’t, but that’s why restaurants are trying to automate now. Like I was at the airport, I went to a burger place with my son. I can’t, every place has those kiosks.
I can’t stand that. You got to order your food from a kiosk. No, thank you. It’s crazy. No, but I’m just saying. Yeah, I know, but it was nuts. I went to a restaurant with my son red screen things. Yeah. They had a kiosk and there was, they had one, the one cashier, like the Jetsons. And then my son was like, oh, just, the girl was busy.
Two people were waiting. He’s no, just order from here. So we ordered from there and he just told the girl behind the counter. Oh yeah, we got water and a soda. And she gave us the. The water and the soda and then, oh, you, when you checked out that added you to put the number of the table tent thing that they had next to there, and they brought the food out to the table, I’m telling you no, it’s not that bad.
No, but what I’m saying is it’s like restaurants, there’s, it’s going to change because they’re doing it at McDonald’s too. I know, but I’m saying restaurants are going to really change because if they can’t get help, they’re going to have to develop. Ways to get people served and they’re going to have to make places that have a really complicated venue.
They’re going to have to figure out how to take an item. I’ve gone to places they’ve been calling them ghost kitchens. But that’s for delivery. Yeah. But they’re just, but that’s where most of these restaurants are like going to this model. There’s they’re like. We don’t have the staff to seat people in an establishment, like a place.
Yeah. So then all they have is a kitchen and they just deliver the food and that’s it. Yeah. They deliver it to the table, but no, not to the table. I’m saying no, they have a restaurant anymore. Some of them don’t like, listen, there’s one place that I eat near my house. The whole one whole section of the restaurant’s gone.
They have all set up with tables, people are coming to pick up their food. Uber Eats is coming there, Postmates they’re Door Dash this and that. It’s crazy. And then also when you go to order the, that you order on your phone and then they just bring the food out to you. They got people walking around, oh, you need water, you need this, you need that.
Okay. The pandemic really did just stick a fork in the restaurant and hospitality. I don’t know. Some restaurants I see are able to hire people. I don’t know what they’re doing, how they’re paying them, or whatever. And then other restaurants are struggling and then some restaurants are built, trying to build up like their take-out.
They got to do it. They got to do it! Technology is also going to change things. Just like I told you, in 2008, and 2009, all of a sudden, the fast-casual restaurant was born. All these Chipotle sub shops, all these places where you walked up and you ordered now, I think we’re going to see some changes in restaurants.
I don’t know what they’re going to be, but there are changes and it’s going to start happening. One thing I did notice is I think we’re going to see menus get smaller. Yeah, it’s going to be all digital. Yeah, they’re gonna, but they’re going to have to make their menu smaller too. I think restaurants today need to look at if you got a giant menu.
Yeah. I agree. You need to get your menu. I honestly don’t like smaller going to a restaurant. Like sometimes when you’re like looking at a menu and it’s five pages deep, like it, the trifold just never stops unfolding. Yeah. It’s overwhelming for me. Like I’m a vegetarian, so I’m only looking for probably a really small portion of your menu anyway.
But I’m what I’m saying is that I think, there’s going to be changes. This technology’s changing, the labor market is changing. We can’t, people can’t afford to drive to work. There it’s, the gas is like completely out of control, almost $5.10 at my yeah. But the other problem is the electric car.
There’s prob I was watching the whole thing about an electric car, so I was like, they were like the power grid. If everyone had an electric car, I can’t handle these electric cars because we don’t have enough. We’re not, it’s, there’s a lot of different moving parts that are. Right! where we need them to be right for that to happen.
And the other thing is where’s the electricity coming from fossil fuels. So, if you’re going to have gas high, okay. It’s going to cost more money to charge your electric car. They got, it’s not being thought out, like in a business type way. They’re just thinking oh if the price of gas is high, you’re going to want to buy an electric car, but it’s hurting the people on the lower end.
Not everybody can afford to go spend 50, or 60 grand on a Tesla. My family can, or even 30 grand on some new car. They got to rethink how this is all going to work. And the price of gas affects everything in the economy. We’ve talked about this a number of times but watch out for what we’re going to do here at Nationwide Payment Systems in the next couple of months.
Watch out for things like buy now, pay later expanding. Maybe you need that at your business. Maybe you need some customer financing options for your business. These things are moving and FinTech moving at a rapid pace for things like QR payments, being more mainstream, text payments, and email payments, really advancing.
Into retail and restaurant businesses where they’re using point of sale systems and credit card machines. I wonder how, and even mobile businesses, like I was reading an article about just the economy in general and we’re spending money like crazy. Like people are still spending money. Yeah. They’re spending more, but they’re buying less.
Because the product is more expensive. But we are still spending tons of money. But I was wondering like when it comes to retail, I wonder really how they’re doing. Because certain people can’t be really out here splurge on Balenciaga and Gucci’s loaves right now. Are they right?
So, the per listen, I always tell people the same thing. 2008, 2009, the same patterns happening right now. If you went out to eat three times a week, maybe you’re going once a week. If you were eating out once a week, maybe you’re eating out once every two weeks or once a month, people are going to cut back. If you were out buying hundred dollars, a pair of pants, and a hundred dollars shirt.
Maybe you’re going to a cheaper store now if you need something. And then remember kids, you got a lot of kids and even a lot of kids can’t afford to pay rent. The rents are so high, that they live with their parents. So, they still have some disposable income. You. So, they’re out spending like their money frivolously, whatever that word is, Fri frivol previously.
But I’m just saying but they’re not spending as much either because saying just because you have somebody told me the other day they were like, I got to raise at work. I don’t feel like I got to raise because. They said everything costs more gas costs, more food costs, more, everything costs more.
So, the raise did not help. So, these things, business reacts to everything, and the business moves faster than the government. The price of gas goes up. The price of goods goes up, the price, whatever you’re buying, the price goes. Okay, goes up immediately. And that’s why I was saying that with the QR code menu, boom restaurant, they need to change the price today.
They can change the price today, adjust everything on the QR code, and adjust it in their point of sale. Boom, boom done! So that’s why I’m talking about where technology now is helping businesses make to do these adjustments faster. So, everybody is adjusting oh, so do you think these restaurants really quick is another random question?
So, like when chicken.
the chicken prices are through the roof. So do you think these, all of these restaurants are literally on a daily raising their, cause like when you go to a restaurant and they have lobster for instance, and then next to it, it has a market price. Isn’t that a workaround?
That’s a workaround for a few items on your menu. You can’t have the whole menu market pricing, right?
you have the whole menu like that. Yeah, right? No, I was just thinking about the chicken. I wonder what they’re, how they’re no, they’re making their adjustment, could be every couple of days, they get a delivery.
It’s not, what if so, like what if they, like for the way the apples just went up, like obviously restaurants who are incorporating apples into their menu, they might not be, they might have to say it we’re not making apple pie this week because apples are too expensive and you just, okay.
And then they don’t buy apples and you’re a chef. So, you that’s how you that’s, how you would do it. If. If you win, you wanted asparagus and asparagus was crazy expensive. Yeah. I’m not going to have asparagus. Just take that right off the menu. Yeah. Coming off the menu, that’s it. You got to be, you got to think on the fly, be creative buy.
Like I, when I was a chef, I used to buy local produce. Of course. So, I had a big connection. I used to go to this place, and I used to buy local produce. But I bought what was in season, of course, and what were the best prices! Yeah. And then I got creative with it.
You have to get creative with everything. That’s why I was telling you FinTech people don’t think Visa and MasterCard they’re creating any kind of knowledge company. Yeah, no, but I’m saying like they’re not creating technology, no, they’re not the innovator. And the other thing do not believe Congress, when they tell you, oh, this company’s bad. That company’s bad. Don’t believe any of that. Okay. Because who owns all these companies that own Visa and MasterCard? Who owns the banks? Government! No, they don’t own that! Who then? The public owns it.
The public owns it and is right. Everybody who has stocks, 401k, profit-sharing plans, IRN, the government just controls it. But they’re causing the problem. That’s causing those stocks to go down. They’re they think they’re punishing the CEO of the company. They’re punishing the CEO.
Guy’s getting his salary. They’re punishing you, me! Just like with the crypto they’re punishing the public, the government, No, they’re punishing the public, and the public needs to wake up and get rid of these people vote locally. Yeah! The most important thing that you can do. Yeah. Vote, get out, and vote – vote!
Think about your pocketbook when you’re at the poll this here because you have to vote for the people that are in your state first, because what happens? Yeah. They go to con too. So, you have to get the people that you want in place first. Then they go and take care of the business. But we just hold off and just vote for presidents. We’ll never have any change. So got to vote for the, your vote with your pocketbook and your wallet this time. Yes! Okay. that’s what you got. B2B Vault.info. Check us out, go to Spotify, subscribe to the YouTube channel, and be part of the B2B Vault community.
