Bill Clerico

And, you know, we were either charging that end user that or we're doing a revenue share back to our software platforms.

That's correct.

Yeah, the kind of market rate is like actually about 2.9% plus 30 cents.

That's what most payment companies charge.

Yeah.

And the really interesting things in our space is that the kind of base interchange rates are set by Visa and MasterCard.

So that sort of sets a floor for competition.

Most folks think that, oh, WePay makes 3%.

Actually, we make kind of a tiny fraction of that.

The vast majority goes to your credit card company that issues your card as kind of sanctioned by Visa and MasterCard.

So really where we see competition is really in attracting software platforms to our

uh, to our solution.

And so, um, you know, we're, we're competing on the quality of our APIs, uh, the quality of the end user experience, speed of payments, uh, quality of customer support.

Those are all things that people think about when they choose a payment provider.

Um, and typically the rate, you know, is competitive with everyone else, but there's kind of a, you know, there's actually isn't a lot of variability in those rates overall in the industry.

Yeah.

I mean, we as a company are just trying to stay super focused on our customers.

Our customers are these software platforms that serve small businesses.

You know, when those folks start calling us and asking us to support Bitcoin or blockchain or these other solutions, we'll add it.

But I think what we found is that in this part of the market, there really hasn't been a killer application of those technologies yet.