President @ CassPay | 22 Years Experience in B2B, B2C, & C2B Payments | Processing $100B Annually Across AP Optimization, Healthcare, Logistics, Energy, Utilities, and Bill Pay
My philosophy on pricing. Keep it simple and keep it fair. For every line item on our pricing schedule, our client knows exactly what it is without any ambiguity. For example, check processing (printing, clearing, positive pay) , ACH fee, straight forward low cost bps fee on card, and wire fee - with a few extras based on decisions such as stopping a check. They know with certainty the calculation that was used to create every line item. They can easily calculate it with data at their disposal. And at the end of the day, they know exactly what our service costs them so that they can develop transparent pricing for their customers. When any vendor approaches me with one of these 300 line item pricing schedules, which somehow has become the standard in the financial services industry, I simply say thank you but I can’t offer this to our customers because I don’t understand it. Trust is built over years and lost in an instant. We don't gamble with that.
CEO at Quiltmind | Built 4 Global Businesses | Achieved $100M+ Revenue | Entrepreneur
3wCory Bricker spot on. At Railsr and Green Dot a big part of our innovation was pricing. A flat per active fee so clients knew exactly what they needed to do to be profitable. Shocking that it was not available as it seemed so obvious that’s what customers would want.