Hey, what’s up, everybody? It’s Justin Live from B2 B 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’ll be talking about how software is the new credit card processor. Meaning, that instead of you doing the typical way of going about setting up a merchant. I’m online processing is the way of the future. Yeah! It’s becoming the way of the future. It’s disrupting our business right now where you had companies been doing this for over 20 years.
The first companies that came into the business were PayPal, Stripe, Square, and Shopify, and all of these companies have all centered around the product. And then it’s not really oh, we’re, you’re getting a merchant account, it’s more oh, you’re getting this product. And that’s what it is, with QuickBooks, you’re getting your accounting software. And then the payments are a side note to that. Even though that’s probably one of their biggest revenue generators and the same thing with Shopify and all types of other services. And if you’re what we call people that are software companies, we call them ISVs or independent software vendors.
And now those companies if they want to accelerate how much their company is worth, they need to incorporate payments. So, let’s say. What do you mean by that? So, let’s say I have a company and I make software for hotels, or I make software for restaurants. They want to capture the payments like Toast captures the payments, you sign up and you don’t, and the way you do it is you don’t do it the old way where you do paperwork. So, we’ve been experimenting with this for the last two weeks. Yeah. Where we send people out a link.
They answer 10 questions, and they have a merchant account in 10 minutes and it’s crazy. Very effective! A lot of people are like taking, going, oh yeah, I want to do that. I want to do that. And then for bigger businesses that you know, that’s going to be not cost-effective for them or robust enough. It’s not going to be a robust enough solution. Then you can go through getting a regular merchant account. But we feel like the future is coming to where excuse me. And it’s not enough for the software company to just go, okay I want to partner with Nationwide Payment Systems and then every single merchant has to call on the phone.
And then we have to talk to them on the phone and negotiate with them and then get them set up and then, oh, you got to go fill out some paperwork, and then we need your last three statements of your merchant account or your last three bank statements and your corporate paperwork and all that. You don’t have to do any of that with PayPal, Stripe, or Square, do they don’t ask you for any of that they’re using artificial intelligence. So, we’re working with a system that’s doing the same. And so now we are also looking for companies who want to do that. So, if you have a software product and then you want to integrate payments, we’ll show you how we can make it so you can accelerate the sales of your software or your customer’s not going okay
I want the software. Oh, now you got a call over to Justin. NPS, and then Justin talks to you on the phone, explaining everything. Then send an invoice. Right, send a link, collect all this data, and send it over to the bank. And it takes three to five days to get you set up with a merchant account. Then the bank might say, oh, we need more information. This or that, whatever it could be! This is accelerating the process! So, if you have a software company and you want to accelerate the process, we can help you! We’ve put together a whole guide on how it works, and basically, it’s a complete no-risk program. So, there are all types of companies that can do this.
Let’s say you make websites, right? And you’re a website company. And now you want to create a new revenue stream for your company. Let’s say you’re making three to five or maybe 10 eCommerce sites a month on WordPress. That’s a lot, but. Okay, maybe that’s a big company. That’s a big agency. Okay, you have an agency or maybe you’re just a one-man show. What can they make, two websites a month? Two to three I’d say. Okay! So even if you have two or three websites a month, if you’re just giving your customer to PayPal and Square and you say, or, Stripe, you go, okay, let’s say you have, let’s just use the number two, two customers a month. And let’s say each one of those customers is doing 25 to $50,000 a month in credit card processing.
If you send them to these other companies, you’re getting a big fat zero and you’re. So, you’re, I think you’re, we’re missing some real quick. So, what he’s saying is for agencies, we’re setting up an e-com site for a client. And how we usually do it is what we set and plugin, we install woo commerce. Then you put in, you tell them, go sign up with Stripe or PayPal. And then we set it. Boom. And it’s done. And typically, I myself, I have never, made a deal to where I was getting points on the back end for sales or stuff like that. I’ve tried negotiating with different companies who didn’t have the finances to bootstrap the project.
Hey, I’ll take parts, pieces of the sales, whatever. But typically, after we do, that’s it. And we’re not making any more money from that eCommerce site unless they’re on for a maintenance package, which I hope everyone is selling. But other than that, you’re done, you install PayPal, you’re off to the races. PayPal doesn’t send you a check! No, you’re not getting any PayPal, doesn’t do any affiliate. They don’t care how many people you send to them. Right! They’re still going to take their percentage off every payment that you get and, every, whatever they’re going to get their fees, they’re going to collect their dollars.
What he’s saying is there’s a new way of doing it. Right, so you can co you can partner with us. And then let’s say you have two, let’s just say round numbers, let’s say you can get $20 for each merchant that I like to use low numbers because that way no one. And you have two people a month and you said that’s 40. So that’s 40. And then at the end of the year, you have 24, let’s say you got 20 clients at 20 bucks. You’re making $400 a month. That just gets you and that’s on the low side. That number could be a thousand dollars. The way you are explaining it, is a little confusing. So, what are you saying? No, you’re making $20 a month per client.
So, every time you set up a website, you install this, you make $20? Right! Each month off of the products that they’re selling from their store. Without disrupting them and asking them for money. They don’t pay you. The client that you set this up for after you install the product that we’re talking about. They don’t even necessarily know. They don’t know, they’re just getting a merchant account. So, they’re getting their merchant account, and then you have your own referral code. We’re calculating that at the end of the month we go, oh, Justin’s office had five, signed up five people, it generated X amount of sales.
There was X amount of profit, Justin’s getting a percentage of that. And let’s just say it’s $20 for each one. It’s a hundred, the next month. Justin does five more. Now it’s another, that now it’s 200 a month! Right. So, you’re continually growing, you’re building a portfolio. If you have a good sizeable agency, maybe you’re making 10 websites a month, but even if you have a small agency and you’re only doing one or two, you’re creating additional income. And we’re also focused on eCommerce, right? Because this can be used for service industries as well, so plumbers.
So, if they’re making payments, you can use this system. Right! You can use this system because you’re basically linked into, you can link your software into our system, and then instead of taking a week or two weeks to get each person boarded to where they can take payments, they can be taken payments in 10 minutes. We give you the credentials, you plug it into your software, and your customers are up and running. So, let’s clarify, let’s just run it down really quick. You partner with Nationwide Payment Systems for your merchant account. Correct.
Then you set up, we set up a referral link for you so that you can then sign-up businesses under your referral link. So, when you build up a website for a new client, so instead of us going straight, Hey. Just use PayPal. We have a new solution where you can use our technology and then, therefore, continue to make money, monthly residually, off that client without adding a percentage to their fee or making it more difficult for them, it’s just very easy. Yeah! That’s just one-way e-commerce. But the other way, let’s say you had some restaurant software and you wanted to integrate payments into your restaurant software and be able to speed up how fast you can get that customer processing. Right? So, you can come to us and then we get you set up where you get an integration kit, you integrate our technology into your restaurant software, and then you also have integrated into there.
So, they sign up for credit card processing, and then you’re able to get your software out there and then working and doing payments right away. So, it can work for like a SAS company where I sell my SAS software and then I sell it. What’s SAS? Software As a Service. So, let’s say I have a software product, let’s say I sell it to agencies. And then those agencies can resell that software to their customers! There’s a good one. You, we were just dealing with the software that deals with dispensaries. That, it’s a marijuana-related business. They do the inventory. Oh, the inventory. So, it’s software that they sell to others.
Yeah! Yeah! And then they can accept payments through there, that’s just direct payments. I’m talking about where like you have more, I have a software and I sell it to you and then you need to accept payments through my software. Oh, okay! So, then you need a merchant account. So, then all the people you’re selling the software to all need merchant accounts so they can accept payments because they’re using, they’re getting a white label or a co-branded label of your software.
That’s what I meant when by the agencies like for an agency, who’s setting up a web design agency, we’re setting up, we’re building websites for all different types of businesses. One is a huge home remodeling is a huge industry where they’re starting to not start, I say the past five years, you could see they’re evolving into the future, right? Yeah. For most home remodeling agencies, and home remodeling companies, you look at their website either. They don’t have one or they only use Facebook or whatever, so those types of companies are like for the picking for this type of stuff, because those are the types of companies who are still sending checks, invoices by mail.
Email stuff like, so they are like, though those are the types of companies where I as an agency we still build websites for. But we never really had a way to, like monopolize or to. Yeah, you’re creating another form of income. It’s a revenue stream that we did not have. But it’s more, you got to, we’re focused on the eCommerce industry, but also, we’re focused on other industries too, where people have a software, let’s say you had software and it was specialized just for like plumbers.
Right! Or it’s specialized just for towing companies. We can help you speed up the sales of your product because you’re not going to have to go through call somebody on the phone, get the paperwork, fill it out, and send in all the documentation we can get you set up where you’re basically a white-labeled or co-branded payback through our system. And then your customers basically answer 10 questions, and then they get a merchant account. They verify their bank account; they verify their identity. It’s very easy, and usually takes less than 10 minutes, right? Yeah! And we’re doing this and it’s working. So now we want to take this to the next level.
And the next level is these, you have these ISV companies. So, a good example is there is a company called Rent Cafe, which had another name before, and they collect rent for apartment complexes. So, they collect rent for thousands and thousands of apartment complexes. They put in payments into their software, and then all these apartment complexes get an account. That’s where now their company’s worth a hundred times more than it was worth before when it was just a software company. So, it’s the same thing for any type of software, whether it’s for retail stores, for maybe you have some special, maybe you built build something out for. A particular industry, like a guy, built something for cornhole, a website for cornhole.
And it does all the specific things that you need to do because it’s a specific industry. So, give that one as an example so that we’re partnered with them. Right now, we’re not on this system. If we were using this system with them, they would be able to sell the website, get the person, the merchant account, and not go through the whole paperwork process of getting a, getting them set up. So that’s like what we’re working on now is to basically like, bring that to various types of industries, whether you got a hotel software, restaurant software, software that does whatever it does and where you’re the people you sell it to. They need to accept payments through that software.
There are tons of them out there. There are hundreds and hundreds of people trying to create this, but one of the things that they’re skipping is they’re partnering with PayPal or Stripe or Square, and they’re not making any revenue. They’re their revenue for doing that at zero. No there’s right. I haven’t heard unless they have a specific partnership with PayPal or something. No, you have got to be giving them like thousands of customers. Do they even care? I doubt. Yeah, like Stripes will partner with people, but they pay them very little. Exactly. We built that, and we have a whole PowerPoint presentation. We can send you if you have a software company, you can’t only see that if you’re watching on YouTube. But really quick, before you finish up, I just want to say thank you to everyone.
We just finished up our hundredth episode last week, Friday. You gave away the Oculus Meta quest 2 to Jen. Yeah, Jen! That was Jen. Hopefully, she enjoys it. She’s in North Carolina. In NC, North Carolina she should be getting it either today or tomorrow, I would guess. Yeah, I think so. The next, yeah. Should be getting it this week, the next couple of days. Thanks again to everybody. I haven’t heard back from the other two people. So, I’m going to give the other two prizes. We’ll have to have another. We’ll give it another giveaway. We’ll have another small contest and give away the other two prizes. Yeah. Yeah. Thanks again, please. Don’t forget to subscribe to the YouTube channel at B2B vault, the payment technology podcast.
Follow us on social media, TikTok, Twitter, Instagram, Facebook, and LinkedIn at B2B Vault. You can find us there on the, please join the community on Facebook as well, B2B Vault community page. Yeah, ask us some questions on the community page and we answer them on the podcast. So yeah. Check us out on Spotify, Apple, Google, Stitcher, Amazon, and Pandora! We’re always we’re everywhere, there just go ahead and Google B2B Vault or you can Google The payment technology podcast, and we pop up as well, head over to B2BVault.info for more information, if you look to apply and get a merchant account, there’s a button on the top of the navigation that says Apply Now. Go ahead and fill that out, Boom! You’re off to the races. If you want to just ask a few questions text the word, BOOK to 9 5 4 8 2 7 9 8 1 8 there you go! Yeah, and book an appointment. Super simple. So, this is, that’s what we’re doing, so that’s one of the things that we do is talk to companies.
And this is a very big movement in the payment industry right now. Where software and combining payments with software that is going to have customers using that software to collect payments is going to be a huge business in the next five years. Yeah, the agencies, I think that once, like digital marketing agencies and these web design agencies. I’m, we’re always like I’m a web designer, I have my own company. So, we were very, I was always in tune with technology and finding new ways of getting paid. But these types of options weren’t, it wasn’t all in one. Do you know what I mean?
If you wanted to get paid by a link you had to set up one account. If you wanted to set an invoice, you had to set up another account. There were a lot of ways, QuickBooks was but it was expensive. So not all small businesses could afford that. And this way, it’s going to help, especially the small guy someone like who, myself, who was trying to, who was really just getting two, three clients a month sometimes, five. Good months. But at the end of the day, getting paid was difficult, right? Like you, you would rely on the invoice, or you would rely on the one technology that you have. And with this platform you could, if you wanted to, you could send an email to the client. You could shoot, them an Instant message.
You can do it, then you can invoice. You can do an invoice; you can do all kinds. You can send them a payment link! That’s what I meant. It’s just, there’s just the technology that is available to us right now. It is just really cool. And I’m it’s really awesome to be on like the ground floor of it right now because no one using it. Yeah, cause it’s growing and changing! Like I was sending these links to a few of the. Like I was telling you earlier. And they were just railing me, you know what I mean. Because people don’t understand. They were nitpicking about stuff. And I was like you said, they don’t understand. They don’t understand. If you want to see a demo of this technology backend, we can show you the demo of the technology backend.
We can show you the front end we’re we already tested it out. We get people approved in 10 to 15 minutes; they’re answering 10 questions. And this is the wave of the future. This is a wave where you can grow your business. You can literally start growing your business. Because the biggest pain point people have with merchant services is filling out paperwork. So, I know like I’m 62, I’m doing this for 20 years. 20 years ago, you had to walk into a business, sit down, explain everything, get out, actual paperwork. Then we went to web forms and sent out e-signature and all that. Now, nobody wants to do that. The younger people who are starting businesses just go to PayPal, Stripe, and Square.
There’s a problem with those companies! It’s a huge problem with that. So, we did a podcast on PayPal, Strip, and Square. What’s a better merchant account? We should repost the YouTube video on it. Maybe we should just redo that one? We could redo it again. Cause there’s more. Right, we have more stuff to talk about on that side. We could bring Zelle into the fold in that too. So, what’s better to use in your business? The thing is you want to use a product where you could get ahold of somebody today. I was just on the phone with a guy they’re using Square and having all kinds of problems with them. Square held some of their money.
Now they want to get away from Square because there’s no one to communicate with, it’s all through emails. So, they’re sending them emails and back and forth. It’s got to be trouble! And then it doesn’t work. So, they’re just holding the money and that’s it. With us, we’re taking that same service that they have. Exactly! And the exact same thing they are doing, they’re giving somebody a merchant account. By answering a few questions, boom. But what we’re doing, we’re taking it to the next level. There’s an online chat in the portal, where a guy will actually chat with you live from customer service for technical questions.
If you have some other type of problem, we’re available, we have 20 years’ experience. You call the office; you text us the customer service in our office answers the phone. And then we can jump in, and we can contact the processor and get whatever we need to get worked out. We might be able to, depending on the situation, we might be able to log into the site, whatever. There are a lot of things that we can do. Right, we can get into the back end and see what’s going on and see where the problem is. And, as I said, at the same time it’s something that is held up. We’re able to go find out why it’s held up.
Speak to somebody on the phone. Who’s holding it up, come on! What’s going on with the whole thing? Customer service, that’s where a lot of these platforms are lacking, your Shopify, your PayPal, your Stripe, your Square, nobody has a phone number to get ahold of anybody over there. I think PayPal does, but I have never had it. No, but I’m just saying it’s very difficult to get somebody on the phone. With us, we’ve been doing this for 20 years. So, we’re taking that service, combining it with what we’ve been doing great for 20 years, and now making that an awesome service for businesses called Omnichannel merchant account.
And we want to partner with agencies and ISVs and software companies to help them create another revenue stream by linking them into our system, which is referred to as PayFac. So that’s what today’s podcast is about. We’ll do another podcast. We’ll update the information we gave about PayPal, Stripe, and Square probably in another week or two. Yeah, we’ll do a podcast about that and talk about it. But Omnichannel is the big rage right now! How can SMB small, medium size businesses give people the Omnichannel experience that large companies are doing? We have the software that can do that. Plus combined with the 10 questions, 10-minute boarding.
We can help you accelerate your business today. So, partner with Nationwide Payment Systems or contact us and get the link. So, you can get a 10-minute merchant account. So, everybody, have a great day. Carpe Diem. Thanks for listening to B2B Vault! PEACE. We’re doing, we passed a hundred episodes.
We’re going to do a hundred more. Boo boo, Boom!