In this episode, Michael Ramsey, co-founder of Compaytence, discusses the complexities of the global payments landscape and how his company assists online entrepreneurs in navigating these challenges. He emphasizes the importance of understanding the payment ecosystem, the value of consulting for scaling businesses, and the need for continuous adaptation in the face of change. The conversation also touches on the future of payments and the necessity of listening to customer needs to remain relevant.

Takeaways

• Michael's passion lies in helping online entrepreneurs sell internationally.
• There is a significant gap in the market for payment consulting.
• Compaytence focuses on operational soundness and risk management.
• Clients often face issues with funds being stuck or accounts being shut down.
• The company provides a comprehensive audit of clients' payment processes.
• Education is a key component of their service offering.
• Successful scaling requires understanding operational mechanics.
• Change is constant in the financial services landscape.
• Listening to customers is crucial for future success.
• Entrepreneurs will always need support in scaling their businesses.

Chapters

00:00 Introduction to Global Payments Consulting

02:00 Understanding the Payment Ecosystem

04:40 Value Proposition for Online Entrepreneurs

06:52 Futures Thinking in Payments

09:51 Conclusion and Key Takeaways

Keywords: global payments, online entrepreneurs, payment consulting, risk management, customer experience, payment ecosystem, scaling business, future of payments, entrepreneurship, financial services