Why CryptoPay chose Worldpay for Platforms

We have a very unique industry that I want to tell you about. The industry is based on low tickets and people that are attended. Thirteen years ago, when we entered the market, our customers were using Magstripe, and they still are largely. But even before that they were using coins, tokens, bill validators. That’s the way they did their business. We were already in the market designing other embedded circuitry. And when we got into the market and said “look, I think we can do contactless, I think we can do credit card acceptance,” and we did it. We chose Worldpay after several other folks we tried. We tried all these other companies. They didn’t get the core value we needed to have, which was cost effective and good service. So, we signed up with Worldpay thirteen years ago and it’s been a great partnership. Worldpay has provided us with incredible customer service, not only for Cryptopay, but also our customers. Our customers would come up to us and say, “Dave, I love your product, but I have a problem. Why do I have to use Worldpay?” I tell them this, you can sometimes be penny wise and pound foolish. Penny wise is this: three quarters of the rates that you see, what you get charged for credit card fees is interchange and that doesn’t change. You’re going to go shopping around to try to change some pennies for what the merchant charges, but you’re not going to be able to change the interchange fees. That’s the same across the board. So, you should go with Worldpay. We’ve got great negotiated rates. They have great service. It’s just the best you could do. So don’t be penny wise and pound foolish. For others out there that might want to get into payments, you’re going to have to find a good merchant processor, that really understands your industry. Because if they don’t, they’re going to be upset because they’re not bringing in the revenue they should. And by the way, our revenue wasn’t based on tickets, but it’s based on volume. You know, 64,000 swipers in the field. Find a processor that understands your market.