Payment Processing Fees: How Merchants Can Make Processors Compete | Viktor Popovics

In this conversation, Viktor Popovic shares his journey from being a refugee in Yugoslavia to becoming a successful entrepreneur in the e-commerce space. He discusses the challenges he faced while transitioning from a career in aviation to starting an online business selling pressure washers. Viktor reflects on the ups and downs of running his business for over two decades, including the impact of changing market conditions and the decision to sell his company. He also delves into the identity crisis many founders face post-exit and his new venture in the payment processing industry, aiming to bring transparency and competition to a traditionally opaque market. In this conversation, Viktor Popovic discusses the competitive landscape of payment processing, emphasizing the importance of transparency and the ability for merchants to access the best rates. He explains the onboarding process for merchants and how they can benefit from a platform that connects them with various payment processors. Viktor shares insights from his previous ventures, highlighting the significance of strategic planning and the value of working with trusted partners, including family members. He also addresses the importance of fostering a team culture that encourages ownership and engagement, and concludes with key advice for founders regarding decision-making and evaluating processing rates. Key Takeaways: 00:00 Introduction and Background 01:54 Transitioning from Aviation to E-commerce 05:37 Challenges and Growth in E-commerce 09:02 Life After the Exit12:31 Identity and Purpose Post-Exit 13:08 The Payment Processing Dilemma 21:34 Building a Unique Business Model 23:30 Understanding Competitive Pricing in Payment Processing 26:06 Simplifying Merchant Onboarding and Payment Processing 29:51 Lessons from Previous Ventures: Strategic Planning and Execution 32:52 Building a Family Business: Roles and Responsibilities 37:16 Fostering Team Ownership and Engagement 41:22 Key Insights for Founders: Learning from Experience SaaS Leadership Lessons: Innovative business models can disrupt traditional industries. Experience from previous ventures informs new business strategies. Transparency in payment processing is essential for merchants. Merchants don't need to understand all the logistics of payment processing. The model of charging processors instead of merchants is refreshing. Guest Resources: victorp@avendo.tech https://www.avendo.tech   / viktor-popovic-b8a6b416   Episode Sponsor: The Futureproof Series -    • Futureproof: Surviving SaaSpocalypse - How...   https://jeffmains.com/books/