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B2B Vault Episode 61: The Future of Payment Processing, FinTech, & Business Part 2
B2B Vault Episode 61: The Future of Payment Processing, FinTech, & Business Part 2

Written by Allen Kopelman

March 22, 2022

Video Transcription

Hey Everybody. Justin with B2B Vault: The Payment Technology Podcast with your host, Allen Kopelman. We provide educational information about business payments, FinTech, or financial technology defy or decentralized finance, and the technology businesses need in today’s world. Today’s episode will talk about the future of payments, which is part two. So Allen, here you go. Hey, thanks, Justin. So welcome to the B2B Vault. We did another episode a couple of months ago, the future of payments. So this is the future of payments. Part two. I think a lot was going on recently in the last month. That month has been busy with payments, that’s for Sure. Yeah. For payments and businesses. So what’s going to shape the rest of 2022. So there’s some crazy stuff going on with the economy that is looking a lot, like 2008. And I don’t want ever to see that again. I don’t want to go back to two that’s an eight because that was bad. Bad gas went up to four bucks or more. And then let me tell you, the economy was in rough shape, 2008. What was I doing? Nothing good.

You were probably young, though. I Was 28. Okay. So, I take that back. No, I was doing great work. I was doing Power engineering, Homer Simpson, Justin Owens, Sacai, Homer. So, you know, right now, you know, talk to many business owners every day and you know, gas prices are going up wages, you know, Everybody wants this $15 minimum wage thing. Wages increased because it was hard to find workers during the pandemic. So people had to pay more. Yeah. It’s still hard. I mean, I tried to hire somebody in the office. It took me like two months to find somebody. It was crazy. I Was kind of, Yeah, I was taken back cause I’m like, People only wanted to work at home, even though they saw it in the ad. It said in office only, and they were still asking, can they work at home? Or they didn’t, you know, whatever, they just didn’t want to work. I don’t know. I don’t know what it was, but people made appointments to come for the interview and didn’t show up. So it’s hard to, it’s hard to hire people. And now we have this inflation where prices, I mean, I mean, I went to the grocery store. I thought to myself like, wow, look at that price. Look at the price of this, the price of that. I mean the price. Yeah. It costs $4 in 20 cents. Well, you know, that’s interesting.

So, you know, I bought Costco, I got a hand at the Costco, right? Because you know, they have gas and their gas is usually cheaper than whatever you can find. Usually, they’re much cheaper, and the food is also a little cheaper. And one of the things they did during the pandemic because it was all these like trucking problems, still got their drivers to drive the trucks and started sourcing their food. So, you know, especially the produce, you know, and other stuff too. They started picking stuff up themselves instead of depending on trucking companies to move their food. And you know, and they’ve, you know, like, I’ll see, like in Publix, no toilet paper, no, this, no that or very low. Right. And Costco, they’ll have toilet paper, paper towels, cleaning supplies, Lysol wipes. They have everything. It’s. I can tell you one thing, as paper goods have gone out of control. People don’t realize as we talk about gas prices going up. Do you have any products made out of petroleum? Probably most office stuff, not this backdrop, but I can guarantee this sign. In the corner made of petroleum, the desk, your chairs, anything that’s got plastic rubber. These are all petroleum-based products. So, you know, a war on fossil fuels is not being thought out correctly. You know, I’ve been solved.

Starbucks announced that they want to do it sooner than that by the end of this year. They’re going to try it store by store, bring your cup. So then they want you to bring your cup, so they don’t have to buy cups anymore. I’ll tell you why they don’t want to buy cups. I want to tell you paper surprise is through the roof paper goods. Like I was talking to a restaurant owner, and they told me this, we have to raise our prices on the to-go food. Because the price of all the stuff we have to buy to package the food up is double what they were paying a year ago. I believe it. Double People need to start. They need to get creative with packaging. I don’t, I mean, so like on an environmental. Yeah. But it’s not just, but it’s not just packaging. It’s like, okay. So, you know, like some restaurants, like, you know, like I got to talk to restaurant owners all the time, and I was in the restaurant business, but let’s get back to that. Cause we’re going to discuss restaurants in a minute. Well, you know, we’re dealing with this inflation prices are going up and you know, people don’t understand basic economics, 1 0 1 for the United States and the world. I don’t care what country you’re in.

Gas goes up, prices, go up wages, go up, prices, go up. I don’t want to hear them talk about on some of these TV stations like, oh, there’s some corporate greed. There’s no corporate greed. Like what do you do? Like if you have a pen, right? And you paid 50 cents for that pen, and you were selling it for 75 cents, but now the pen costs you 70 cents. You can’t still sell it for 75 cents. You have to make enough money to pay for your employees. The light bill, the gas to get to and from work. I was listening to somebody tell it to me. So they, their workers, were complaining, and they cost too much to drive to work. They were saying; some people were commuting, you know, 30, 40, 50 minutes to get to their job, you know? And then we have, you know, in 2008, we had a big problem where you had people, the mortgages, we had a big mortgage failure, you know? And if this persists in inflation and everything, we’re going to see some mortgage default. But we’re going to, where are we going to see the mortgage? Default is not directly related to mortgages, but because people took out business loans during the pandemic. So we went to take out a business loan. They sent me the money. Then they sent me out. I never got the paperwork for the loan. Right. So about six months into the loan, I get the paperwork from the SBA. Right? So the SBA, they don’t give you the money. It’s connected to a bank.

Right. They wanted everything. They wanted to put a lien on the business, my house, my business partner’s house. I was like, oh hell, I’m not doing that. I gave him the money back. Yeah. Yeah. Cause I said, well, we don’t need the money. So we didn’t need the money. We thought maybe we would need the money. Right. Because we didn’t know what the pandemic was going to bring. And it took a long time to apply for the loan and then got the loan. And then when we finally got it, but that’s six months after we got it, we got it. We realized like, and we don’t need it now. And we’re going to use it for something else. But then, when we saw the terms and conditions, I was like, oh no, no, no. If some businesses get money from the government, they now fail because all this inflation kills their business. Right? Cause you can price yourself out of what you’re selling. If you’re a restaurant, you have to keep raising your prices. People are going to stop eating. They’re not going to come to eat as often. Nope. Do you know? So there are those business loans that could affect the mortgages, right? Cause the SBA they’ll just foreclose on your house and your business. They don’t care. And websites, people need to get, you know, with everything going on in 2022 people that are, look at their websites and upgrade their websites. If you’re going to invest in your business, I’ve told people, like if you have a website, it’s ten years old. It’s way too old. The websites must be updated all the time. Sometimes you have an old theme, and you have to go to a new theme. You got to invest constantly. And that with all these rising wages, there’s been a lot of talk about automation and kiosks.

I saw several announcements this week from restaurant verbs that they’re going to put kiosks in the restaurants, fast food, fast, casual, even sit-down places. So you can order your food off of a device and not even deal with them. It could be a bit hard if somebody got like, you know, like my mom gluten-free, and I don’t want it. She changes the whole dish around, you know, the person process to write a book. When you go out to eat with my mom, right. I talked to quite a few restaurant owners, and we just had one guy who owns two restaurants. And another guy that owns a couple of restaurants called us, and they all switched over to cash discount. As part of trying to re trying to get a little relief, you know, you know, relieving a little bit of expense from them, but many restaurants are looking at automation. How can they have less? They have fewer employees sometimes, you know because they can’t hire any or want to have fewer employees. So they’re trying to figure out automation like how to put in a kiosk how to get more people to order from their website. That’s why I’m saying have a better website, put spaces outside for curbside pickup, do their delivery. You know, but I noticed like a few restaurants now started to put software and were to let’s say the delivery companies take 20 or 30% they’ll raise the prices to the door. Dash 30% is door dash takes 30% or whatever the percentage is. Yeah. I don’t like how they don’t know who needs to figure that out, but I don’t. I get the delivery fees because people have to make money.

No, one’s going to do stuff for free. It’s Complicated. It’s very complicated. The way I feel like it puts the restaurant in a tight spot. Right. The restaurants now like are trying to tell people, like order from our website. Right. And come pick it up yourselves, please come pick it up yourself, Killing us. I mean, I remember reading this one real quick. I was reading an article about how this trendy restaurant in New York was, you know, super. I don’t remember its name, but they’re doing well. And then the pandemic came, and they started, they offered delivery. They weren’t delivering the food and door dash, and all these other places came to find out when they when you would when they got the food when the person who finally got the food. Yeah. It would be upside down. Oh yeah. Right. The restaurant ended up closing down because they were like, Aw, since the pandemic, this place took a turn for the worst, blah, blah, blah. Next thing you know, it’s like, it’s not even them. Right? Because the delivery drivers pick up tons of food, they Don’t Get sloshed around in the car. They don’t work for the restaurant. But the bad thing is the restaurants and getting bad reviews online. Oh, the food is horrible. Then the captain, I try to tell many of my restaurant clients. I’m like if you’re going to do like to go food, you’re going to make, you know, you’re going to, you’re going to try to like do more delivery. You have to look at like some of the items on your menu. Do they travel well? Can they travel? Can they travel? You know can,

What kind of packaging can you put it in? So it’s not going to fall apart. If you have a steak and you usually slice it up and put it on a plate, do you want to slice the steak up when you send it to somebody’s house? Like it’s going to be, What about the sauces? Right? That’s what I mean, and you got to have containers. So complicated sauce on the side. That’s why I was telling you like stuff doesn’t travel well. And it goes all over the place. Like I got a delivery one time, and stuff was, my son was tired of eating my food, even though I’m a great chef, you know? Cause I was a chef and I can cook. My son was like, no, let’s get some to-go food. And it came, and it wasn’t enjoyable. And I was like, I ordered a pizza, not during the pandemic. And I swear to God, I’d have to be on camera for you. I have to show you. The pizza looked like he was holding it in his arm, all toppings. When I opened it up like this, all toppings were on one side. Crazy. I was, I was No, but that’s the problem because they had people already trained to do food delivery, and they didn’t work for the restaurants that didn’t care. So, you know, I see restaurants getting created. I was eating at this place in Boca, and they had these like TV dinners. I love when restaurants do that. Yeah. That is like a TV dinner program.

So they’re like, oh, you can buy these dinners. And they’re frozen. And a container that was, I thought that was innovative. One client we had was a pizza place. They were making like they were offering people to sell them dough. So it’s like you could have something fun to do with your kids. You could come there and buy dough in a bag and then buy a sauce container, cheese, and toppings, like all separately. And then they were also selling like frozen like they made the crust, But they didn’t put sauce on them. No, they just made the cross. You could buy like a package of 10 CROs and then a big bag of cheese and a thing of their sauce. And they were selling like a bag, you know, restaurants, I think like some restaurants like got away from that as you know, the pandemic kind of loosened up. I think they need to rethink that and come up with that kind of food offering because people want to people, especially now prices are so high. There’s a place real quick. There’s a place over in Oakland park called Times Square Pizza. It’s across the street from Target. Okay. And they sell frozen Mascioli frozen stuff. Shells Smart. It is the bomb. Okay. So you go and get some nice square pizza. Okay. So that’s what people need to do. I think restaurants need to rethink; I was in another restaurant in Hollywood, near my mom’s. When you walk there, the restaurants down a side street and an area where they just built all these apartments and condominiums.

They were out of a trailer park and a bunch of, you know, nasty buildings and some warehouses built all these apartment buildings and townhouses and all this stuff. And there are restaurants in the middle of that neighborhood tucked away. Yeah. Tucked away. They have a nice big parking lot. And the guy was brilliant on in the front. He put chains, all the parking spots for a pickup or just coming to, and if you come inside and inside the guy put like some refrigerators there, and he has quick like grab and goes stuff, Juices and drinks, Not just that prepared food. So somebody can come in and get a sandwich just on their way home, pick it up. Boom. They don’t have to go to the store or whatever. I think restaurants need to think like, like how they’re going to have, and they’re going to have, they’re going to evolve, you know, with the economy. I think they should learn from the pandemic to be more creative and even retail; how are the mom and pop business going to compete against Amazon Walmart target? You know, the big box stores, you know, I think retail stores need to think about getting, putting in point of sale systems, getting a real e-commerce website, offering people, curbside pickup, you know, curbside pickup of in-store pickup and figure out like how to, how to do that. Because otherwise, we’re especially with what’s going on now. You know, we’re going to see people be price sensitive. Yeah, man, You know, it’s a shame, but I think Real quick too, about the retail and you know, this is something that hits home for me. Right? Like the small mom and pop shops, like where I come from, Milwaukee, Wisconsin, it’s still a small mom and pop shop that runs the city. Right? Like It was in every city you go to that like Everybody can’t shop at Walmart.

No, it’s not, you know, I’m just saying it’s not feasible. But Yeah. I D I really, I wish, and I wish we could put like an APB out to like all these small businesses, especially like, you know, the brick and mortar shops who are in direct competition with the Amazons and the Walmarts And your website, please like it. If you’ve had a shop for over ten years and have a customer following, I guarantee you that you will see a return on investment after you set up your job. I mean, it’s not like you have to put your whole store online. You know, people often think of building commerce Sites and also get on social media. Right. But I mean, if you don’t have to, if you have a thousand products, you don’t have to put all 1000 products on your website at once to launch it. Okay. If you have ten products in your Shop that sell regularly, start with those. But many of these points of sale systems have it where you can, and it’ll suck off your inventory into a shopping cart. So you got to look at technology, And it’s there for you. So There’s a lot of technology that can do that and enable you to have an e-commerce shop, you know? And then another thing like shopping centers versus freestanding buildings, I’m starting to see Starbucks close up in shopping centers and going into a freestanding building. I mean, you drive past like Starbucks, fast food. These places have lines around the building, especially Chick-fil-A. I don’t know. I don’t know what pickle juice they soak the chicken in. I don’t know what makes that chicken so good. But every time I drive past a Chick-fil-A, there’s a line, two lines I got, thank God, drive through, like, it’s unbelievable. And they got a lot of these fast food or doing curbside pick up your order on the app. They’re encouraging people to order like on the app or order ahead of time, come pick it up, get curbside. I think a lot of businesses need to rethink where they are. Like if it’s time to move, or I see many new places going into freestanding buildings, and a lot of the bigger chains like Starbucks and other places like Chipolte days are moving into freestanding buildings that they can serve their customers better. On the driving Side of a Macy’s the other day, They have them everywhere inside the mall, inside Macy’s inside target. I thought I was lost. Like I literally, I was, Yeah.

I’ve seen them everywhere. Starbucks. It’s crazy. But I’m just saying, like, there was one down the street from my house. They closed, and they built a freestanding building, And no, they closed the one in the shopping center. Yeah. Then they opened back up in the shut, the same. They closed the one in the shopping center. But now that everything loosened up with the pandemic, they reopened it back up, you know, but it was closed for a while, and only the one with the drive-through was open. But I go by these, all the dominant man, they got lines around there. People don’t want to go inside the Starbucks. Right. So the ones that I see in a shopping center are not as busy as they used to be No way decided to Shop. Right. And even the Dunkin donuts they’d line is around the block. At least I get so upset when my daughter asks me for a breakfast sandwich that I usually make it myself. No, but I’m just saying it’s big; it’s a big chain. So that goes to show you that businesses need to have like drive-through they need to have curbside pickup. Even they have at the Wendy’s down the street from the office, and there are parking spots outside for, they have a marked for curbside pickup, right. The olive garden has that. And their parking lot Olive garden has their little, their procedure is slick. Yeah. Oh yeah. You order online. And then they tell you when your food is ready and when you know, approximately what time, and they tell you what parking spot that goes, yeah. You pull into the parking spot. You tell them what kind of car you have, and they bring it out. Right. And so this just goes back to like, to the restaurants, if you don’t know what to do, like it just, like we said, go to olive garden and see how they do it and then implemented into your business.

You know, if you, if you’re an e-commerce shop with a website and you don’t know Where to start, Look at somebody else in the account, in your, in your industry. And you know, you don’t have to copy it, but you know, you understand what they’re doing, then you do it, and you implement it into your business. And I guarantee you it’d be successful And you have to be present on social media, Social, social, social, Everybody has to be social. And then, you know, we did, you know, what’s going on with payments, cash credit crypto. We just did a podcast on that. A few podcasts back. I suggest you listen to that. I mean, cryptocurrency is going to be getting bigger and bigger. Buy now pay later consumer financing for other types of products you know, other alternative payment methods, what kind of payment options or services can help you against your competition? Maybe you take Bitcoin, and your other competitors are not taking Bitcoin. Maybe you’ll make an extra sale or two, depending on what kind of business vertical you’re in. And it’s important. You know you got to evolve with everything, right. Real quick. I just want to ask Everybody to check us out on Spotify; make sure you subscribe to the channels. We’re on all DSPs’ digital service providers such as apple podcasts, YouTube, Google podcasts, iHeartRadio, Stitcher, Amazon radio Pandora, Amazon Music, Pandora, and overcast. We’re there. If you have a hard time finding us, reach out to us, and we’ll get onto your platform. You can check out all the past episodes on Spotify or head over to B2B vault.info. There’s a form there for you to fill out if you have any questions or tips, or if you would like to be a guest, fill out the form, and we’ll get back to you. Make sure you follow us and subscribe to us at B2B vault on Instagram, Facebook, and Twitter.

Again, that’s at B2B vault, Rocky, Rocky. What’s up, dude. Rocky is he doesn’t want to let me win today. Let’s put Rocky, Rocky, Everybody watching what’s going on while you were barking. Come here Anyway. So, so thanks. Make sure you check up, subscribe, turn off pulse notifications and never miss another B2B vol episode. Here we go, buddy. All right. So now let’s get into like automation. You know, we’ll see it at the airport for check-in. Now we’re going to see more and more automation because as this inflation happens, you know, this is going to push people to have fewer employees and, you know, to be, just keep the doors open so that, you know, we’re going to see a lot of automation. So kiosks are like a big thing. And, you know, kiosks at the table and restaurants, we talked about people ordering, you know, another form of automation as, you know, order on the website before you get to the store kind of thing, either picking it up in the store or curbside. And, you know, we might see some other clever ways of people doing automation. You know, you can buy a car online, you don’t even have to go to the car dealership, buy a car, Carvana, Carvana, they just come and deliver it to your house on a truck. It’s Crazy. You know, and I saw Elon Musk, you know, they’re raising the price of the Tesla now because they can’t get the, they’re trying to come up with new battery technology, right? We can’t get to the part of the world where you get all the nickel and LithiumLithium, and we can’t get anymore. So there’s going to be a big shortage of, so he’s coming up with different battery technology and some of, some of the battery technology cuts down on how far the cars will go. So they’re asking people who bought a Tesla, that they told them over go 250 miles. We can only make it go 200 miles with this other battery because it has less LithiumLithium. So I don’t know. I don’t know. I’m all for alternative energy, but I think it takes time.

You can’t just pull the plug. It takes time to figure out, like, what is that alternative energy? And like, one thing like nobody looks at is like hydroelectric. And there’s been cars before. If you go on Google, you can Google water card, not on YouTube water, Gar. And, and you’ll see like cars running on water. That’s how all these cars first started running on steam. Yeah. And run it on steam. So I think that there’s, you know, there’s gotta be a little bit more to do with that. I’ve even seen recently from a video, and it was, they were talking about these giant windmills, you know, that make the wind power. And then those turbines break right after a while, or when they get freezing in the winter, they crack. And then they send them all to, to this. They sent them all now to this company, and this company figured out a way to recycle them. They grind and burn them with coal, and I know they want to stop using coal dues. So they better figure out, like, okay, if you’re going to get rid of coal and you’re going to get rid of gas, what are you going to, what are you going to use to produce electricity? So I’m not that smart. I’m not a scientist, but I think we got water is a good resource. I don’t know, Hydroelectric. They make the water go up and down, up and down, up and down, up and down. But that CA that, you know, you can only, you know, I think that over time, you know, like what I read said that 7% of the cars sold last year were electric cars.

So they can’t make them fast enough to get Everybody in an electric car. Plus, he lives somewhere as my daughter lives in Iowa. Right. And let’s say you live an hour outside of Cedar Rapids. I’ve driven out there before. Let me tell you, and there is not anything over there. You’re driving past farm after farm. Sometimes you’re driving by a farm. It’s like one guy’s farm for 30, 40 minutes. That’s a long time. Right? How will you get a car you’re going to drive from like some farm out there. And how will these farmers go to, where will they do? They will have a solar-powered thing; a tractor like that will not work. Right. They got to rethink some of this stuff that’s going on. I mean, I think it will take a lot longer than, you know, saying, oh yeah, we will. We want to get rid of fossil fuels to do that right now. We’re going to, and we don’t want to see an economic downturn, you know, the economy. So, you know, what’s, you know, what will you be the drivers now? I think people need to also look at their marketing, you know, right now. Everybody needs to look at their marketing, your website, email marketing, text messaging, especially for, I think messaging is effective for retailers and websites. I think that’s an effective way to get more business. I think texting is also very effective for non-for-profits trying to raise money for restaurants’ social media, yet restaurants texting is great. Hey, don’t forget to order. We have a special send out coupons through that. A lot of people are starting podcasts. We’re very committed to a bit very committed to this podcast and putting together schedules and doing it more often to give people educational information and share my knowledge of the business.

I owned a restaurant app company, a printing company on a graphic designing company. So I have experience in a lot of different businesses. Justin has been building websites and doing online marketing for over a decade. So, you know, we have a lot of experience with all types of different businesses between the two of us. You know, there’s a ton of like audio platforms coming out. Everybody’s adding audio rooms seems to be a popular way. Twitter spaces. LinkedIn’s adding audio rooms. Facebook’s looking to have Groups; I guess they’ve already been doing that for a while. Yeah. So they have that, you know, trade shows are starting to come back see some business networking coming back a little bit, you know, Let me just add the alternative products expo. There are a lot of people there. I was surprised. Yeah. There were a lot of people at that expo. I wouldn’t say it, but there was quite a bit of traffic in there for sure. Cause there were a lot of vendors Back during the weekend or no, no, No. But there was a lot of fenders there plus that a lot of people in their booths and there was a lot of, so, you know, you don’t know, you could tell the kind of like, cause people that were from a vendor usually I’d have like a special shirt on, but I think shows are starting to make a little bit of a comeback. I think it just depends on, you know, bigger companies are not sending people to their employees to shows yet, you know, they’re taking Both. I think the people themselves don’t want to go yet. And I think the businesses themselves don’t want to take that risk. Well, they don’t want to take the risk with the employees. Right. So you know what I think slowly, it will start to come back, not on the news as much. Other stuff on the news is going into the news cycle.

I mean, in comparison real quick, does it, we went to the small business expo during the Omni crime, and there was no one; oh yeah. That place, you could have rolled a bowling ball and not hit a Person Except This one. Right. It’s like night and day; they will have another small business expo. I think later this MonthMonth down in Miami, they’re coming back from whatever; I guess Turn turnout For not such a good turnout, wasn’t it? Yeah. We even saw at least five or six booths where people didn’t even show up. They had that whole section; remember, on the other side, it was just Empty. It’s just empty people didn’t show up. There was spit. Yeah. The names of the businesses were still there, but there was no. And what giant booth that somebody set up, nobody showed up for it. That’s crazy. Yeah. So it’s, you know, business is tricky, right? And so I think businesses need to look at there, you know, how they can add, they can, you know, create more automation with their business. We’ve done that with our website. Like we tell people, Hey, go to the website, fill out the online application. We do everything through e-sign. We do zoom meetings with people who do zoom demos. You know, we get everything, then go ahead. And I think, you know, businesses need to look at, you know, different ways, how to, how to, how to streamline, how to streamline your business. Especially with this inflation. It’s very concerning to me right now. The technology is there for you guys to use for sure. I mean, there’s no excuse anymore for Yeah. On our website, NPS bank.com, we have many technology solutions. Plus you could set up an appointment with us. We’ll put the appointment link in the show notes. We get it, and you can set up an appointment. We can talk to you. We’re a consultant. We work for you.

You come to us, and we consult with you. We find out about your business, what you need, what you’re trying to accomplish, what kind of budget you’re working with. Some people come to me, and they go, oh, I have this, I want all this stuff. I had a guy recently; he wanted all this stuff, and he wanted a POS, and he wanted a scale, and the scale needed to print out like the way the food and then spit out a thing, a sticker to stick on the food. I was like the scale with the printer on it was X costs more than the whole POS system because it’s very, you know, you’re talking about a vera, you know, complicated piece of equipment. And there are only one or two companies that sell that. If you want to, just put a scale next to the cash register, and it just reads what’s on the package and then rings it up. That’s a different story, you know, different scale. It’s like a quarter of the price, but the ones that print out, like when you go to the deli, yeah. It prints out the thing, or they have an event in the back. Like they’re weighing the steak and the ground beef and the fish. And then it’s printing. I think those scales are three to $5,000. They’re very, very expensive because, you know, it’s linked up to your POS database, and then it’s printing it out. And then the person’s scanning it. And it’s a whole inventory tracking system. So like when you go into Publix, and you see all those, I get what you’re saying now; why does that make sense? Why it’d be so expensive? I mean, you, you got 500,000 different products. You know, they all need to be in, you know, the inventory needs to be tight. You can’t sell them three pounds of Cod in not knowing it. Right.

Checking it out. Like they get real fishing. So they know like, oh, we got ten pans of salmon. Then they know how much they sold. There was some waste because they threw out the bones, head, and tail. Right. So there was some, there was a little bit of waste with that. They can account for that, so that’s what it’s designed to do, which can help your business. Just like we have other products, you know, like liquor control product that can help you control your liquor costs and your business, you know, businesses, you know, you have to spend money on technology to save in other areas. And I think businesses need to look at technology today, and technology is so much cheaper today than it was five, ten years ago. It’s become a lot less expensive. And especially a lot of it’s cloud-based, and you can use Android tablets and iPads, which is a lot less expensive than a computer. And even there’s computer technology and kiosk technology, and different types of technology, website technology, you know, I’ve seen places where they use website technology, basically to get you to order your food at the table. You’re just doing it through a mobile website. It’s not even, and it’s not even an app. It’s just a mobile website. So, you know, if you’re looking for different technology, reach out to us, we’ll give you a consulting and set up a free 15-minute call, and we’ll help you with whatever you want to do. You want to talk about alternative payments, whatever you want to talk about.

Follow the podcast, B2B vault, everywhere, social, all the podcasts networks, YouTube. And thank you for listening today. Everybody, have a great day. Carpe diem.

Merchant Statement Analysis | Merchant Services Statement Analysis

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