From Cash to Digital: Trust Factors in Payment Solutions | Exact Payments Brandon Zorner | PEP031

The Payments Experts Podcast

Unlock the secrets of payment facilitation and discover how trust shapes our financial decisions. Join us as James Huber and Jeremy Stock sit down with the Chief Sales Officer, Brandon Zorner, of Exact Payments, who offers an insider's view into the role of non-bank entities like Western Union in delivering secure financial services. Why do some people prefer cash transactions and non-traditional financial services? Find out how trust factors come into play and why these alternatives remain popular.
Ever wondered how payment facilitators like Exact Payments streamline merchant onboarding and payment processes? We unpack the intricacies of the Payfac model, using Toast, a restaurant software platform, as a prime example. Learn what it means to be a "merchant of record" and how efficient onboarding and compliance add significant value. We also contrast these modern solutions with traditional payment gateways and merchant accounts, highlighting their advantages and challenges.
Finally, journey with us through the diverse landscape of business payment solutions. Our guest shares their fascinating career path, from working in Bolivia for a crowdfunding company to joining Western Union in San Francisco. Explore Western Union's ongoing relevance and the trust factors that keep it viable amidst modern payment alternatives like Venmo and Zelle. We also delve into the implications of new systems like FedNow and RTP, shedding light on how Exact Payments helps businesses integrate these advanced solutions. Don't miss out on these invaluable insights into the evolving world of payments!
Visit our guest: Exact Payments https://exactpay.com/
Visit us at:
https://www.globallegallawfirm.com/

A payments podcast of Global Legal Law Firm

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1. Payment Facilitation Explained (00:00:00)

2. Payment Facilitator Responsibilities and Benefits (00:04:32)

3. Diverse Business Payment Solutions (00:15:11)

4. FedNow and RTP Explained (00:24:19)