Dave Glazer

speaker

149 appearances 1 recordings 1 series first heard Jan 2025 last heard Jan 2025

Dave Glazer’s voice in public audio — every appearance, attributed to the second.

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Off the Rails from the U.S. Faster Payments Council - FPC · 30 Jan 2025 Dave Glaser and Skyler Nesheim of Dwolla on retail payments, pay by bank, and Severance · 30 Jan 2025 podcast

And the larger the merchants get, the more they feel the pinch on that becomes such a huge burden for them, such a big element on their balance sheet is the interchange and the related fees for acquiring cards.

And so any way they can find to lower their costs or to take advantage of higher profits in their business, they're going to look for them.

And pay by bank offers that promise.

So by bringing a lower cost solution with similar technology, API driven, fast, instant, et cetera, similar to the way cards work today in retail, that has the opportunity to really be a game changer at retail over the coming several years.

So I think there's three things.

There's three things that we think about and that we see when we're working with businesses.

And there's a number of super interesting experiments going on right now that we're working with innovators on.

But the three things in the flow or the order of things that retailers care about, one is how do we –

How do we motivate consumers?

Consumers are motivated to use their cards, one, because it's easy, as we've already talked about, but they also get rewards or points or rebates, and they're really used to that, right?

I love my miles.

I use my Marriott card and my Amex everywhere I can to optimize my miles today.

And merchants have become okay with that.

I pay my taxes now with my Amex.

I pay my utility cards with my Visa card.

But if there's a way that those merchants or businesses could reward me to pay with my checking account, I would take advantage of that.

So if there were a miles program or if there were a rebate, say I get 5% off my utility bill for the year or for the first month,

to establish my checking credentials there.

That would go a long way.

But there's not a ubiquitous platform or not a lot of proven techniques to make that work yet.

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