Lessons - Why PayPal and Shopify Will Sabotage Your Business | David Carlin, Co-Founder of Residual Payments
Lessons - Why PayPal and Shopify Will Sabotage Your Business | David Carlin, Co-Founder of Residual Payments
This episode features David Carlin, Co-Founder of Residual Payments, who challenges common misconceptions about online payment giants like PayPal and Shopify. He discusses the hidden costs and risks associated with these platforms, advocating for customized payment solutions and direct relationships with payment processors to benefit businesses.
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David Carlin - Co-Founder of Residual Payments | Residual Payments & Passive Income
Show Notes
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.