Cash Back King — How to Get Your Share

Chase Harmer is the Founder and CEO of ProfitPay, the first globally connected Fintech marketplace that unifies banking and business without borders. Chase started in the payment processing business, grew his portfolio, and began building technology in 2014. He created ProfitPay to be a card issuer and fraud provider all in one platform, providing value for merchants and consumers.

Since its founding, ProfitPay has grown to over 100 employees, brought in top-level executives, and received $25 million in funding during the year 2020 alone. The company’s vision is to redefine traditional finances and create a more profitable future.

Here’s a glimpse of what you’ll learn:

• [1:46] How ProfitPay is helping e-commerce businesses with an all-in-one digital banking platform
• [7:43] Chase Harmer describes the founding of ProfitPay
• [11:50] What’s the drawback to using your US corporate card for international purchases — and how can ProfitPay help?
• [14:46] How to monetize through ghost accounts
• [18:28] Chase breaks down the cash back process and shares his visions for the future of e-commerce
• [24:42] Navigating returns through ProfitPay’s virtual credit cards

In this episode…

Are you getting optimal benefits out of your current credit card reward system? What if you could generate revenue on all transactions and increase the value of your business?

With ProfitPay, you can do just that. This all-in-one digital banking platform allows e-commerce businesses to use a virtual card for their manufacturers and earn up to 2% on all transactions. ProfitPay’s unlimited cash back feature, zero foreign exchange and cross-border fees, and pre-funded debit card options give e-commerce entrepreneurs freedom, flexibility, and a greater bottom line.

In this episode of the Quiet Light Podcast, Joe Valley sits down with Chase Harmer, the Founder and CEO of ProfitPay, to talk about how your e-commerce company can make more money with ProfitPay’s banking platform. Chase details the benefits of ProfitPay’s virtual cards, shares how his company surpasses the competition, and looks forward to the future of e-commerce.

Resources Mentioned in this episode

• Chase Harmer on LinkedIn
• Email Chase Harmer: [email protected]
• ProfitPay
• Call the ProfitPay team: 855-247-3411
• Quiet Light
• Quiet Light on YouTube
• Joe Valley
• Mark Daoust
• Quiet Light Podcast email: [email protected]
• The EXITpreneur’s Playbook: How to Sell Your Online Business for Top Dollar by Reverse Engineering Your Pathway to Success by Joe Valley

Sponsor for this episode…

This episode is brought to you by Quiet Light, a brokerage firm that wants to help you successfully sell your online business.

There is no wrong reason for selling your business. However, there is a right time and a right way. The team of leading entrepreneurs at Quiet Light wants to help you discover the right time and strategy for selling your business. By providing trustworthy advice, effective strategies, and honest valuations, your Quiet Light advisor isn’t your every-day broker—they’re your partner and friend through every phase of the exit planning process.

If you’re new to the prospect of buying and selling, Quiet Light is here to support you. Their plethora of top-notch resources will provide everything you need to know about when and how to buy or sell an online business. Quiet Light offers high-quality videos, articles, podcasts, and guides to help you make the best decision for your online business.

Not sure what your business is really worth? No worries. Quiet Light offers a free valuation and marketplace-ready assessment on their website. That’s right—this quick, easy, and free valuation has no strings attached. Knowing the true value of your business has never been easier!

What are you waiting for? Quiet Light is offering the best experience, strategies, and advice to make your exit successful. To learn more, go to quietlight.com, email [email protected], or call 800.746.5034 today.

Episode Transcript

Intro  0:07

Hi folks. It’s the Quiet Light Podcast where we share relentlessly honest insights, actionable tips, and entrepreneurial stories that will help founders identify and reach their goals.

Joe Valley  0:29

Hey folks, Joe Valley here from the Quiet Light Podcast. Thanks again for joining us for another episode. Today we’re gonna talk about cashback money. Lots of different ways to increase your bottom line with Chase Harmer, the CEO of ProfitPay. Chase. Welcome to the Quiet Light Podcast.

Chase Harmer  0:49

Thank you so much. I’m happy to be here with for the conversation.

Joe Valley  0:52

Good to have you here. You’re out in Reno, right.

Chase Harmer  0:55

Reno, Nevada. Yeah, just a lifelong count from California and migrated over here last April.

Joe Valley  1:02

Right? Our top I guess our oldest advisor in terms of tenure, because I’m actually the oldest guy in the team is from Reno as well. So Jason, if you’re listening, because I know you just love hearing my voice every day. If you’re listening, look this guy up these in your neighborhood? By Chase, why don’t you tell us a little bit about yourself a little bit about ProfitPay and what you do for

Chase Harmer  1:22

sure, yeah. So I stopped started as an entrepreneur in 19, in the payment processing business, back in credit cards was kind of still fairly new. And grew that to pretty massive portfolio started building tech technology in 2014, became a card issuer, and no gateway and a fraud prevention provider all in one platform. This allowed us to create opportunities for merchants, to you know, it’s pre cashback on transactions, and they kind of be the whole economy of a transaction, be able to pay the supplier, pre cashback on that transaction, whatever that supplier may be, whether that’s marketing, you know, tanbark, or a playground set, you know what I mean? You can create cashback and all these items, and you can automate that, you know, one to many, I feel like that’s the value that our platform has been able to create is paying vendors in real time. You know, and creating cashback on all those transactions. So

Joe Valley  2:17

you just said suppliers. So we are talking about anybody that owns an e-commerce business where they’re buying physical products, that they can buy that inventory. What if they what if that that manufacturer is over in China and normally requires a wire or something like that? Is that something that your services can help with? We do,

Chase Harmer  2:37

actually. So we do actually automate the back end process, both in the US and internationally. So you can pay to a bank account if you have to, but you can create cards on all the other suppliers, most, most suppliers nowadays, will take credit cards. And we can facilitate that process. So it’s automated. And each each vendor will have their own card is associated with it. So like if you close out a vendor, you don’t close or you lose a credit card, you don’t have to create. You don’t have to call at more people to if you’re a large business or a small business that has lots of stuff, we’re

Joe Valley  3:13

jumping right into the weeds here. So is this a vendor that a card that’s specific to that vendor only, and when they need $25,000 as a deposit for the order that you just placed there using the card that you have given them?

Chase Harmer  3:27

You can do both ways, you know, we do credit as well as debit is commercial debit, you can prepay it, it can be lines of credit, but you can utilize it for one supplier, or you can individualize your suppliers, you know, and actually just create cards for each supplier. We do that automatically through a CSV file upload. We didn’t back

Joe Valley  3:47

in this situation. There’s a cashback savings to the product owner, where they’re going to be saving upwards of how much what percentage,

Chase Harmer  3:58

they’re creating up to 2% cashback on every transaction, right? So every supplier payment that they do, whether that’s the media advertising, or the Tandberg example, they’re actually creating real revenue on those transactions. And it also gives you the flexibility to, you’ll be able to mitigate those transactions when you push money directly into some of the account through you know, wire or ACH, a lot of times, that’s a done deal, and you might not get the product or service that you you were titled to so I think it also gives you security, you know, you have the ability to pull back funds or close our cards. You know, discontinue monthly payments, let’s say that you are using a new vendor, you know, and you know, they’re robbing you in a 12 month contract, but after two months, you realize that xYc is no good, you know? Well with a virtual card, you know, not only you create cashback on those transactions, but you’re actually you’re avoiding the whole conversation with the bank, you can just close out that card.

Joe Valley  5:00

So instead of calling American Express, I’m using a virtual, we’re going all over the place, folks, I’m so sorry. Let me just state that, that on that $100,000 a month, you’re saving to 2% or $2,000 a month times 12 $24,000. You sell your business for a four time multiple, you just put almost $100,000 into your bank account on top of the 24. When you sold your business for those that have not heard me say it, I don’t know, 5000 times already, cashback monies and reward points converted to cash, at least on paper is an add back. And I say this because I was at the at a boot camp, I won’t say which one, I’m sitting around a fire pit. These are the best parts of these things when you’re sitting around fire pits Chase just hanging out with entrepreneurs. And and a business owner told me that he was it the numbers were huge, but his cashback money was about $50,000, a month in cashback and he’s doing something what he called credit card stacking first time I heard of that. But he didn’t realize does to sell his business. So in this case, he’s adding $600,000 to the bottom line through an add back schedule, his business was worth maybe eight times. So he’s adding almost $5 million to list price of this business. So little tangent there. But for folks that don’t understand the Add backs, even though I mentioned it 5000 times, now you get a little bit better than in this case, instead of sending wires Chase, you’re creating a virtual card for the manufacturer to use and you’re making payments to them. As opposed to in my case, I just be using my American Express and then I got to deal with American Express to pull that money back into a chargeback. Because

Chase Harmer  6:42

exactly, you can just close out the card and that transactions over you know, I mean, like they can’t keep it continue to build. So like, if you can’t continue to build and you’re not out the cash, is when you mentioned credit card stacking as well. With our media use case, we do what’s called Connect and collect, and that allows people to usery Max, like in your example, where you’re getting rewards two cents on the dollar, you continue to get those rewards for whatever you your agreement is with American Express. But we can do cashback on top of that. So we connect your funding source to outside virtual cards, right so you can fund your virtual cores with your actual card, which means that you get credit for your two cents was spent or whatever on me AmEx, but then you’re actually adding additional cashback onto the cashback you’re already getting.

Joe Valley  7:28

Well then I can also convert my cash bet my rewards on American Express to cash Oh percent

Chase Harmer  7:35

you could Yeah, you could. Right, exactly. Okay, folks,

Joe Valley  7:39

this is getting really interesting at this point. Alright, so ProfitPay. When did you found ProfitPay? You’re the CEO I assume right? We the original founder of ProfitPay?

Chase Harmer  7:49

Yeah, so I I founded another company we merged into ProfitPay probably in last June. But we you know, I found ProfitPay in 2014 Really and then be able to building technology for the last compliance for the last 667 years. Okay, and you’d compare yourself to you know, a version of stripe or something like that just for CO education. Yeah, so we essentially are not the 800 pound gorilla that stripe is but we certainly are very fierce for competitor we have better terms better rates and we can do almost everything that they can do so stripe connect can issue ghost accounts you can create lots of different marketplace opportunities, we can do all that but we also are virtual card issuer I think the biggest difference between us and Stripe, Stripe charges you one and a half percent to use their cards, we actually give you 2% Back is completely different model. So like we actually give cash back whereas stripe actually charges you to use those bends. So if you spend money marketing, you’re going to pay one and a half percent to stripe to do that.

Joe Valley  9:01

Do you think most e-commerce entrepreneurs are entrepreneurs in general that use cards to buy products and services whether it’s advertising or working with vendors and things of that nature that they use? You know, the virtual card from stripe or from you or did they just simply use their their Chase Card or their MX card and things of that nature to figure out which one they think they’re getting the most cashback

Chase Harmer  9:24

on Yeah, and you’d be surprised that actually most most business most small business owners will use their their debit card so to buy their ads is buy traffic. You know, the problem with that is that you get zero value from that like they’re literally zero so like there’s no the Durbin amendment, you know, which only benefited the banks ultimately doesn’t give any consumer or business advantage to buy ads or you know, supplier payments that way you get no value. So, I think you know, utilize if you’re using a debit card today or like you know, your bank account card to make those purchases because you don’t want to go in debt or you don’t want to create debt for your business. Maybe then this is also where you can pre fund and actually make 2% instead of actually using your own cash and getting nothing your use your own cash and actually make 2% of the money in that. I mean,

Joe Valley  10:17

yeah, it’d be, I would argue with you, even though I have no basis for it, that the listening audience is using their debit cards to fund advertising and purchases, I’m sure they want the terms on that that 30 day terms, they think they’re getting the best cashback with one and a half 2% cashback or points with American Express that they can convert to cash. But it sounds like you’ve got the experience. I don’t folk so don’t listen to me. This is just me with no actual data. Send me send me texts and emails and whatnot, folks telling me I’m right or tell me I’m wrong. Appreciate it. Okay, so So really your ultimate goal as CEO of ProfitPay is to educate entrepreneurs, e-commerce, entrepreneurs, whatever kind of entrepreneur but you know, my audience, and then you can do almost everything that stripe does, but your services are a little better. You’re not charging at one and a half percent. If people are using stripe card, you’re getting you given 2% cashback on that? Yeah. Okay. Talk to me about international stuff, right. So a lot of the folks that we work with are now you know, starting to promote products in different countries, Germany, UK, Canada, so on and so forth. To me, in my simple mindedness, I’m thinking, well, if they’re spending money on Amazon, Google AdWords, and so on and so forth. They’re just using their US corporate card for advertising overseas through these platforms. What’s the drawback to that?

Chase Harmer  11:48

You pay cross border fees, and foreign exchange fees. So you know, if you’ve ever traveled and gone to a restaurant overseas and the wife or husband, you’ll notice that when you come home on your card statement, there’ll be a cross border fee, a foreign exchange fee first, right? So you get the foreign exchange fee, because you did it in Europe, right? And from us, and you’re using a US card to do that. So right, that’s how they get you. And then that guy says, Hey, bank, it’s your turn charge fee. And so now this bank, which has nothing to do with the transaction other than they’re alive, basically takes the cross border fee and adds on to the actual foreign exchange costs. So when you’re buying locally, you don’t have those costs that go away.

Joe Valley  12:35

Right? So if somebody is in the US as a US Amazon account seller account, and they’re going to set up or they do set up one in Germany, they can’t use the same US based credit card. If they do they’re going to be charged international trade fees and things of that nature. Of course, yeah, you’re buying locally in any market, you’re not buying, they’re not buying their advertising, I guess that’s fine, right?

Chase Harmer  12:59

If you’re you, if you’re advertising in those GEOS, you know, that geo typically is going to take that transaction, Amazon rather take money in in overseas than here in the United States, because it costs they they make more money on that money, right? So you know, they’re going to, you know, so what you’re going to see if you itemize out your your bill is that anything you’re paying for internationally, or vice versa, international, now you’re coming US side, you know, you’re paying, you’re paying a handshake fee for

Joe Valley  13:30

that monetize that formula, if I’m spending $1,000 a month on advertising, and I use my Amex in Germany versus one of your virtual cards. that’s local to the market. Yeah. Which my saving on that $1,000 Because of exchange was that

Chase Harmer  13:43

1000 bucks, you’re getting, you’re getting imports of 1% on that money. Okay, you’re getting back. Now, if you use that you’re getting 1% across board, you’re paying 1% Plus, whatever the foreign exchange fee is, and that just depends upon where where exactly, you’re spending the money, but a foreign exchange fee plus the cross border fee, at least one to one and a half percent stripe charges, one and a half percent for cross border fees. You know,

Joe Valley  14:07

so if you like the exchange fees a heck of a lot more than 1% Am I misremembering?

Chase Harmer  14:13

We talked about cross border fee, right. So as far as borders, only one half of it right? So you’re getting basically there’s two fees once foreign exchange ones cross border to collectively together, they’re upwards of five bucks, typically, you know? Yeah, so

Joe Valley  14:28

lots of lots of little numbers here, folks that add up to you know, a big bottom line number and then when you add a multiple to it, when you exit your business, it’s it’s pretty damn valuable. You mentioned ghost account, what the heck is a ghost account?

Chase Harmer  14:44

So yeah, call ghosts account. So if you if you are a marketplace, right, you’re creating a marketplace opportunity or you just have a existing marketplace that you want to monetize. So, if you’re offering business tools inside of this marketplace, You need the ability to set all these guys up with a payment processing account, and access to do different things inside of the system. Without underwriting, okay, without actually sitting every single person that goes through there and ignore, like an over like it’s convoluted, complicated underwriting process that requires them to send in a bunch of information, and then, you know, that’s where you lose the customers. So here, what we do is we do we do an automated KYC process, they connect their bank account, and then they can add their pay ease through our system. But they also get a payment processing account, when I say goes to counties under that marketplace that says DoorDash DoorDash is the marketplace. Now my Chinese restaurant store guy, right? I would be a terminal ID number would be a ghost account inside of the dash dash land account, right? Because I’m getting, they have to pay me I sold the 100 buckets of money, right? DoorDash is fees 15%. You know, so they’re basically taking their 50% paying out the terminal ID number the, in this example, the Chinese restaurants,

Joe Valley  16:06

okay, now that I understand that I don’t think it actually has a direct correlation to what most of the people listening probably do. But

Chase Harmer  16:12

the Chinese restaurants store guy would take a card as payment, right? So if you have a marketplace, you’re creating carbs, again, the ghost account is also a supplier typically and this, right? Because he’s supplying the goods, right? So you think about like that, it would be kind of relevant, like if you because you can create, you can pay them with cards and create cash back on those transactions. Yes, you can that Chinese restaurants or guy when he takes that card on a daily basis? He’s actually absorbing a fee for that. Right?

Joe Valley  16:38

Yeah, got it. Something else you mentioned, just before we started hit record was agencies, a lot of the folks that are listening, either our agencies or US agencies, and people that are using agencies often don’t provide the card to the agency. Talk about the drawback of that. And just in terms of educating the listener?

Chase Harmer  17:00

Well, the drawback is you don’t really get to see, you know, it’s being charged in real time. So you can’t, you can’t understand when you give you say, Hey, here’s a wire for $100,000. Like, you know, you get to itemize all the things in there. So this allows you to really get specific with UPC data and understand exactly where they’re spending the money. And I think it also allows you to earn cashback and all that spend because the the actual agencies controlling that card they’re making with the money on that. And I’m not saying that’s a bad thing, if you’re an agency, this is a great way because you can continue to have merchants

Joe Valley  17:34

or an agency terrible for the client spending all that money and getting no benefit. Right, exactly.

Chase Harmer  17:38

And they also don’t really have insight, they’re really relying upon the agency to understand what’s happening in real time. And I feel like, that’s kind of the drawback, you know, you as a business, you want to understand your metrics right away. So if

Joe Valley  17:51

or if anybody listening to that is using agency services, make sure you’re using your own card, or they’re using your card for payment of those transactions. A lot of a lot of conversations I’ve had over the last few years Chase about cashback is that there’s seems to always be a limit. And that’s what credit card stacking was, you know, based upon the folks that I talked about they they’ll spend up to $150,000 on their AmEx and then switch to another one and different cards so that they can get that $50,000 a month in cashback. What are the limits? You know, in terms of folks that are using your services in terms of cashback money,

Chase Harmer  18:27

there is no limit. So that’s that’s the benefit, right? Reason why you have your Chase rewards sapphire, whatever, unless you’re spending a gazillion dollars. They don’t they’re gonna limit you, right. So, you know, if you and they will cap you at like 150 cashback or whatever, right? Whatever the terms of that card may be, but we there is no limit here. So you can spend it on anything business related, really, and you can earn cashback on that in an unlimited way. So there is no caps me for spending a million dollars a month you can you know, there is no limit.

Joe Valley  19:01

Okay, so it just occurred to me, you know, what most people do? Because they don’t understand the cashback is simply a discount on advertising. The IRS hasn’t figured out tax it anyway, is they? They use a personal card. Like the kid I was talking to I say, kid, he’s 30 years old. I’m 55. So I call him a kid now. That’s That’s awful. The very successful eight figure entrepreneur that I was having a beer with around the fire pit, you know, slid all of that money over to his personal account. These are all personal cards that he uses, and then uses that 50,000 Personally, in this case with you with ProfitPay, people are signing up to use ProfitPay for their business. And then where does the cashback money go? Does it go to them personally or is it go to the business, bottom line, bank account,

Chase Harmer  19:51

whatever they want it to go to so they can pay it out? Back to you they can pay their cashback out to a card, they can pay it back out to an account. They can take it out to them personally For all intents purposes, we don’t actually care. You know? So it’s however they want that. Okay?

Joe Valley  20:06

Beautiful. So there’s plenty of freedom and flexibility there, which is great to hear. You mentioned the future of e-commerce, when we chatted a few minutes prior to clicking Record, talk to me about your view of what the future of e-commerce is gonna look like,

Chase Harmer  20:21

well, the future e-commerce is going to be all in your hand really, you know, so I think mobile is is king, you know, how people are going to use it. But I feel like mark everything is going to be a shaped one in one way or another. Some part of a marketplace, if you’re not the marketplace, your business inside of a market someone’s marketplace, you know, like 70%, over 70% of markets going to be that way, that’s just not going to it’s going to take too long for that to happen.

Joe Valley  20:50

Can you give me a name of the example marketplace, we’ll be talking about Amazon, eBay, that kind

Chase Harmer  20:54

of Amazon Amazon’s a huge marketplace, right? One of the largest in the world. That’s it, but there’s marketplaces that exist inside of those marketplaces, because it’s so massive, you have people that are doing different things and servicing different people inside of those marketplaces and marketplaces are created even within that ecosystem that Amazon’s either aware of right and that are just happening you know, right in front of them so I think that’s the future you know, mobile instant in you know, eventually everything going to blockchain I feel like blockchains like not to see like Tesla’s a bad company. The car is all battery right? We had a Tesla. Now, going back from Reno to California, having all batteries, no gas, it’s not cool, right? I feel like you know, that’s kind of what crypto is. And blockchain is like, which right there like people know about it, people are excited about it, but it’s not mainstream yet. You know, but eventually it will be you know, and so like, right now, you have to use a combination of both like both battery and the and the gas.

Joe Valley  21:54

He’s smiling folks, because he sees the puzzled look on my face that you know, we really need to get Brad and Guthrie on here. If you want to talk crypto, that’s that’s the bottom line. Mark my dad Mark might be amused with it as well, but not my area. I feel you on on the on the battery versus gas or combination thereof, I had an all electric electric vehicle that never seen. I always had range anxiety, always.

Chase Harmer  22:19

I mean, my you know, my attic, go back and forth, California. So we realised real quick, we’re like, oh, Tesla so great. And then it’s like, Oh, my God, like there’s only one supercharger station between Reno to like, to the Bay Area. So unless you want to wait like three hours to get a charge, it’s kind of a no facts.

Joe Valley  22:37

So in terms of the future e-commerce for an e-commerce business owner that is selling a physical product on one of these third party seller accounts, the key for them with ProfitPay is to really first understand your cost of services, which you’re saying is lower than stripe by a significant amount. The fact that they can get cashback money, unlimited on all of their spending, and then the virtual cards that are created virtually for any of their manufacturers that are going to be providing products and taking money from them. But what about for you know, a lot of the folks that I work with might have virtual assistants that for some reason or another might need access to a card, can they get virtual cards too?

Chase Harmer  23:29

Yeah. So that’s, that’s the beauty of that is that you can assign users inside of the system. And you can just push a balance onto those cards for those people. So if they needed to go Suzy needed to go to get a headset from fries or something, you know, because she can’t differentiate. So you consider a $60 MasterCard, and she can go to the store and buy it or she can get it online at Amazon. Just electronically.

Joe Valley  23:52

You can do it. Yeah, exactly. I mean, then you get the cashback for that spend as well. Correct? You get cashback? Okay, this is great. Any any last thoughts chase that you want to share with the audience that’s full of you know, e-commerce entrepreneurs.

Chase Harmer  24:11

Um, you know, I think that the, in today’s age, you know, it’s all about speed delivery and offering things that are unique to the consumer experience that allow them to get more ingrained into the product. And I feel like we’re on the cutting edge of all those things. So, you know, we’re not afraid to try new things. And we’re pretty bold is one of our core values as a company. So we’re not afraid to get her ass kicked. But we’re also not afraid to go to Marketing and bring a great product to market that could be very useful for e-commerce entrepreneurs. So

Joe Valley  24:42

I’m going to get back into something that you had mentioned something about chargebacks and the ability to expedite those instead of the typical three to five days and getting customer pissed off. Yeah, all returns not chargebacks returns. Yeah, taking three to five days. How would if it’s not a marketplace like Amazon and you’re selling direct to consumer on your website? How? How can you benefit people that are trying to get their money back?

Chase Harmer  25:09

Yeah, so these are, these are general purpose cards. So the cool thing about these is, they can come branded for your business. So you have that brand of mourning when you’re sending out these cards. But more importantly, the biggest problem with issuing credit to a consumer today, for a product or service that maybe they just weren’t happy with whatever reason is, it takes three to five days to do traditional payment rails, okay? Meanwhile, the customer is upset, they might be writing a bad review about you, because you’re, they think that you’re not giving them the money even though you’re following the total procedure. So this allows a and there’s also a cost associated with issuing that credit or refund or distribution to that client cost you 25 to 50 cents, or more, depending upon your pride your credit report. Irregardless here, you customer service rep, hey, ma’am, I understand your problem, you know, hey, check, I just sent you a link to your cell phone, please click that link to claim your card, they can claim the card they can get a physical card if they want, you know, hey, I want a card in my house. You know, and I want that knowing like so basically, it’s all federal is packaged up, it’s done all attract, they get the tracking number. Or we can issue a credit to a virtual card that they can actually use inside of their wallet or online and spend that money. The cool thing about that is you’re solving a real problem, which doesn’t exist, which there’s no solution for today, right in the market. So this actually solves a real problem for your business, but also turns that line at that cost of that 25 to 50 cents to 1% into an actual profitable line item for your business. So you’re solving problems, eliminating customer confusion in a bad relationship, and you’re actually making money on that transaction. By the way, breakage. Also big deal, right? So let’s say they issue you a $25 card, right? Now you go if you go if you’re a consumer and you get that $25 card, you spend 29 $24.39, that’s 70 to two, whatever that changes, they’re not utilising, they’re typically not going to go to the store and use that card. So after whatever terms you put around that you essentially get breakage factor. So every quarter, six months or whatever, you’re actually getting breakage back on that spend, you know, as long as your terms and conditions are clearly defined.

Joe Valley  27:27

Very cool, very cool. Chase, how do people learn more about your company? Where should they go to find you and find out about ProfitPay?

Chase Harmer  27:35

Sure. Um, LinkedIn apparently says Chase H. But I’m Chase or you know, and you can find me on LinkedIn, my email is [email protected]. And you can speak to us or investor relations team at 855-247-3411.

Joe Valley  27:52

And its profitpay.io is the URL as well. Okay. I’ll put those in the show long. Show links, folks, Chase, thanks so much for your time at appreciate it. Thank you. All right.

Outro  28:05

Today’s podcast was produced by Rise25, and the Quiet Light content team. If you have a suggestion for a future podcast, subject or guest, email us at podcast at quietlightbrokerage.com. Be sure to follow us on YouTube, Facebook, LinkedIn, Twitter and Instagram, and subscribe to the show wherever you get your podcasts. Thanks for listening. We’ll see you next week.