Lessons - Why PayPal and Shopify Will Sabotage Your Business | David Carlin, Co-Founder of Residual Payments
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In this episode of "Success Story: Lessons," we're joined by David Carlin, an expert in the digital checkout and merchant service realms. During our conversation, we explore many integral topics:
• The Payment Landscape Misconception: David challenges the notion that giants like Stripe and PayPal completely rule online checkouts.
• Understanding Aggregators: Highlighting the allure of Stripe and PayPal's convenience, David also unpacks the risks these platforms pose due to their instant approval and potential for abrupt account closures.
• Shopify’s Hidden Costs: David dives deep into the often overlooked fact that Shopify charges merchants an extra fee when they deviate from using Shopify's recommended payment methods.
• The Individual Approach to Business: David underscores the varying needs of businesses and elaborates on why payment solutions should be customized to meet a company's specific objectives and growth trajectories.
• Direct Ties with Payment Processors: Detailing the benefits of forging direct ties with payment processors, David advocates for bypassing tech intermediaries to obtain more competitive rates.
• Kickstarting Online Stores: For those enthusiastic about venturing into e-commerce, David furnishes valuable advice on picking the ideal platform and highlights potential snares associated with popular choices.
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