The Future Of Payments

Ran Cohen: Hello. Welcome, everyone. Thank you for joining us here today in Cyprus and online. It's so great to see so many of you here. I'm Ran, co founder and CEO of Bridger pay. And tonight, we're going to talk about the future of payments. We all deal with payments in our day to day lives. If you have a business, you probably know that payments, technology belongs to big players. And let's be honest, legacy technology. How many of you, as a user, how many of you had a decline on your credit card? Even though you had money in your account, It's frustrating. Well, I think it's time to revolutionize payments. Today, businesses needs to act fast to be first in order to scale and sell globally. They need a checkout that is connected to any payment provider or method they choose. They need the flexibility and the ability to build any payment logic they want for any country, they process it. They need to be able to have a clearer view of their data. One place to see all their transactions to get better insights and better decisions on their payments.

Ran Cohen: Well, we looked at these problems and said this is madness. We have to solve it and we did. We've built a checkout that is connected to over 500 different payment providers and methods that you can easily integrate into your website, use it as a QR or pay by link at checkout that fits any business. We've built a router, a router that will enable businesses to automate any business logic they want in a drag and drop interfaces. And we've built an admin, an admin to consolidate and unify all the transaction and processing data of the business, so the business can create and make better decisions in real time. We call it a payment operation platform. And they're all one, there are no three products. It's one product that we call payment operation platform that can solve any challenges of businesses in payments. We are going to show you tonight, how easy it is to set up your Bridger and how any business can scale with Bridger payment operation platform. But before that, let's go back to the beginning where it all started. Back in 70, Aaron had an E-learning company and we were struggling with connecting multiple payment providers into our product. We wanted to sell it globally and to scale globally. 

Matthew Boundy: Whoa, whoa, whoa, whoa, hold up. Are we really going to do the whole garage origin story? 

Ran Cohen: Hey man how are you?

Matthew Boundy: I'm good, how are you? What do you say we start talking about the future of payments?

Ran Cohen: Why won't we speak about the future of payments. But let's start with today first.

Matthew Boundy: Absolutely, After you. 

Ran Cohen: "Commerce has become part of our day to day lives. In order to scale, businesses needs to enter new markets. To do that they need to leverage multiple payment providers. Because no provider is available worldwide and each operate best in specific parts of the world. This is why there are so many of them local, global, e-banking, buy now pay laters, you name it. Connecting your website to even one of them can take you up to a year, using up the most important resource of all time and money. And it gets worse, about $800 billion worth of revenue lost every year due to card declines."

Matthew Boundy: "Wow, imagine if you can save those card declines."

Ran Cohen: "We can with Bridger retry, we save them in real time without disrupting the customer experience. Bridger pay is not a payment provider or a gateway but a complete payment operation platform that solves payment challenges of any business forever. We give the power back to the merchants by unifying the payment experience, not only from the checkout but for the entire business payment ecosystem. From the first click to the reporting and optimization of your flow. Let's see how any business can set up in seconds."

Matthew Boundy: "Let's go. So how do I connect Bridger pay to my website? Do I need any coding experience?"

Ran Cohen: "All you need is to register an account with Bridger pay and you've got to be ready to set up a second. We've made it easy for any business to connect bridge pay to their website through already made plugins for every platform for businesses who build their own website. It's a few lines of code, and then you're done with your payment integrations forever and by done we mean done. No more integrations ever again. Think about the time that will be available to your developers to create better products instead of struggling with payment integration."

Matthew Boundy: "Wow. So many payment providers, can I actually connect them all through Bridger pay?"

Ran Cohen: "Bridger Pay does not use aggregators or API hubs to connect to payment providers, we have directly integrated over 500 payment methods and they are all available to our clients without using third parties. This reduces costs and improves acceptance rates."

Matthew Boundy: "Okay, let me connect my account. Wait, that's it? It's already my checkout? Is it universal?"

Ran Cohen: "Universal checkout, embedded checkout, they are just words. What you want is a checkout built for your needs. Universal, embedded, checkout by link, QR. It doesn't matter what you call it, you need a platform that is dynamic and able to accommodate all your payment needs without compromising your business logic and Bridger pay delivers that. That's it, you can now start use your own payment operation platform. Now let's see what's under the hood. The router is the engine of Bridger pay, where you can create your business logic. The router controls your checkout, the fallback scenarios for the decline transactions and the rules to automate any business logic you can think of. It's a Lego like environment where you can build your entire payment infrastructure. Okay mate, let's build your first route. Choose the country or region you want to build your route for. Let's go with US. Now, add the payment providers that you want for the US credit card and alternative payment methods. Now let's see what we've created. That's it. You've created your route just like that. You can customize your route for any region in any way you want to fit your business model. And you'll have one checkout that dynamically adapts to your routes. We all had our credit card declined at least once. And it's frustrating. But did you know that all businesses lose 15% of their revenue every year because of this?"

Matthew: "It's like milk spilled on the floor. And I like milk."

Ran Cohen: "Let me show you something truly game changing. We've created Bridger retry. The technology that automatically sends declined transactions to fall back providers and converts them seamlessly. The best part is that it all happens in real time."

Matthew: "What if I want to change the retry order for my route?"

Ran Cohen: "No problem, It's a simple drag and drop."

Matthew: "I see the rules for my router."

Ran Cohen: "Rules allow you to automate a more sophisticated business logic into your payment flows, so you can route different transactions to different providers, based on your needs. You can prevent specific providers from processing a certain card brand or a card bean or an issuing country. Process account brand with a dedicated provider or set a value limit for providers, process transactions above a specific value with dedicated providers and you can build automations with any combination of rules for every single route. Let me give you an example. Say you want to block some card beans to prevent frauds, you can set a rule to block all transactions from a specific card bean easy. Now let's see what happens to the data from each transaction. From your dashboard, you can see at a glance how much you're processing? How your payments methods are performing? The most common declined reasons and how much money Bridger retry is making for you. That's all your payments in one screen to make faster, smarter decisions if you need more. Our powerful reporting engine allows you to access all your transaction data independently of the providers, normal multiple back offices and endless spreadsheets. Just ask the question and get an instant answer."

Ran Cohen: You ready to start using bridge pay?

Matthew: You know what Ran, it all looks amazing. But I have to be honest, there's one thing that I want to do. I want to speak to a direct client, a client directly at Bridger pay. One that is actually paying and using your services right now. And to be honest, I don't want to be watching one of those pre recorded testimonials you know from one of your design partners. 

Ran Cohen: I'm not gonna send you to a pre recorded testimony.

Joshua: Can you help me out?

Ran Cohen: So you're ready to go to Israel?

Matthew: Absolutely. Yeah. Let's go. 

Matthew: So here we are at Calypsa's headquarters. Let's go see why Bridger pay is as good as they say. So can you tell me a little bit about yourself and who Calypsa is?

Josh: Hi, my name is Josh. I'm the co-founder and CTO here at Calypsa. Calypsa is a swimmer wear brand, which we're revolutionizing the swimmer world with bringing a different type of swim wear to the swimwear industry.

Matthew: Can you share with me some of the payment challenges that you were facing?

Josh: Every single payment integration we want to add requires a lot of Dev work. And as you know that Dev resources are always the ones that you don't have enough of and also the most expensive one in the company. So we were looking for one solution, we can just let connect all the existing payment options out there. For example, After pay, Klarna, and so on. And that's how we kind of reached Bridger Pay.

Matthew: What do you think the biggest benefits of a payment operations platform are?

Josh: I think number one, integration is just one integration, you do it once. And now you can connect 100 different processors and you don't have to waste time on integration. Because one of the things I thought of like a year ago, I wanted to change my existing credit card processor. And it will save me $20k, But it would also cost me $20k integrated. Okay. I'm not going to do that it doesn't make sense at this point.

Matthew: So how did Calypsa manage payments before Bridger pay?

Josh: So until now, we were using two partners to process all of our payments, and it was very limiting and customers were complaining they didn't have special international that we didn't have enough payment options. And every time we want to integrate another payment option, there was too many in that we want to integrate in too much time that was going to take in the dev that we kind of just pushed back and actually never did it.

Matthew: What was it exactly that made Bridger Pay stand out from the others?

Josh: So the reason we actually chose to integrate with a Bridger pay was due to the fact that they did have the providers and payment providers that we were looking to integrate with. They had the most and the most relevant specifically for our company if it was Klarna, After pay, Reach and so on. And that was the main reason I was looking for a payment solution that we continue in the future and can support any payment method that we need.

Matthew: Biggest question of them all. Can you tell me how hard it was to get integrated with Bridger Pay?

Josh: It wasn't very difficult to integrate Bridger pay because Bridger Pay did the integration work for us. So for us, it was very low dev resources. So that's yeah, so that saved us a lot of money and a lot of time of integration and back and forth and so on.

Matthew: It's great to see what an impact Bridger Pay can have on a business. Let's go visit their offices to see where all the magic happens.

Ben: Hi, I'm Ben, head of operation here in Bridger pay. You will see our office doors are always open. That's how we keep ideas flowing between all departments all the time. Come check it out.

Christina: Hi, I'm Christina, I head on the business development representatives and we help new clients get started. Bridger pay is an amazing place to work out because by helping other companies grow, we can work together.

Yael: Welcome to Bridger marketing. I oversee everything to do with our brands. And the best thing about my job is bringing great ideas to life with a wonderful team.

Rubekka: Hi, guys, my name is Rubekka and I work in tech support. I'm helping merchants connected Bridger Pay. And what I love about working here is that no two days are the same. So I'm constantly learning new things as the company grows. 

Muna: Hi, my name is Muna. Our job is to understand our clients business inside and out in order to expand on their payment solution and help them grow. At Bridger Pay all departments are structured to work together and the teamwork is electrifying.

George: Hi, I'm George. I’m leading the front-end team here at Bridger pay. I enjoy bringing new concepts to life and being head of it all especially the happy hour.

Matthew: Hey Yaron, what you working on? Anything new?

Yaron: Actually yes, come in. But don't tell anyone. What we're working on involves an AI engine that will help you predict the future of your payments. We call it Bridger Brain. We are giving merchants superpowers, well, Bridger powers by connecting them to their contributing insights, Bridger brain will open new revenue streams and processing costs will be reduced automatically. As we see it, payment processing abilities are based on matching based data. With Bridger pay, we bring businesses into the present, allowing them to optimize based on real time data. Bridger brain will propel merchants into the future brain itself learning and will autopilot your payments. And that is only at 1% capacity, now get out!

Ran Cohen: So that's it. Bridger pay already solves payment challenges today for any business. And we plan to democratize payments data, giving businesses the ability to optimize their payments with data that wasn't accessible before. This is going to be the future of payments. Thank you very much.

Yaron: Nice one. So guys, I hope you enjoyed the videos. We're going to spend a couple of minutes to answer some questions from our online audience. But before we do, I want you all to give a very warm welcome to our very own CTO and co-founder, Yaron.

Matthew: So I have one question to start you off with straight away from Arthur. Okay. So Arthur from the online audience. Do you support an MPI integration for PCI companies?

Matthew: Yeah, so basically Bridger pay is a PCI level one DSS so the fight solution. The thing is that we developed an API that will allow merchants even with reduced costs to do a minor, let's say, simplified a PCI level, in the process so basically they will not be able to worry so much about this compliance. 

Matthew: Very good.

Ran Cohen: MPI, I think there are many different businesses around the world. Some wants to have Bridger checkout. But some very hard to build their own checkout. Still want, you know, to consume our capabilities and Bridger brain and knowledge and the data. So yeah, they can do it.

Matthew: And actually, our checkout is basically the one that uses the MPI. So if you use that and you have the power to do the processing, well, it's your to choose it.

Matthew: Makes sense. So we have another one here from Kimberly, probably more directed to Ran let's see. How many PSPs can I connect after I sign up to your services?

Ran Cohen: I think one of our merchants has over 60 or 70 different payment providers and method. When you can scale and when you sell globally, if it's for 20, 30 different types of countries obviously, you will need to integrate multiple methods. We see it in every country, the payment methods that belong to that country that people used to pay with and wants to pay with. There is no limit for payment providers, people can connect into Bridger, it can be 70 or 700.

Matthew: I know that relieving for me to hear. I'm not sure about everyone else. So we have one more here from Josh. Quite an important one, actually. So how many languages you support on your checkout?

Ran Cohen: Well, I think 26 today.

Matthew: 26 languages does cover most of the world.

Ran Cohen: And counting. There's no limits to localizations that we can do. 

Matthew: Very good. We got time for a few more? We have one more Elia. What type of integration can I do with Bridger pay?

Yaron: So well, we have several solutions that you can do with Bridger pay, we have a web SDK that you connect seamlessly with a single line of code into your website. So you can start process immediately and work on your payment providers enhancement over time. So basically, your business will be able to scale without words with, a talk and new integration with developers. So basically, this is one of the solutions. That one is using the MPIs suggested before. So if you have your own checkout, in your own experiences and we will support you by allowing you to use the engine in order to optimize your payments.

Matthew: Very good. I think we can squeeze one more in here. One more from Bernard for one.

Matthew: So how many PSPs, I can use the retry before the transactions will get approved. And maybe we could have a little breakdown of what the retry does exactly.

Ran Cohen: So retry allows you to build fallback providers. So let's say you're processing with one payment providers and the transaction got declined for any technical reasons. And there are many, many reasons a transaction can get a decline. And we spoke about that before how it all happened to us, I think.

Matthew: We touched on it. 

Ran Cohen: And what we do basically is take this transaction behind the scene, you guys as user are completely agnostic. And you see the transaction is still trying to process and we take this transaction from one payment provider to another one and even to another one and another one, in order to find the approval that we seek. And if that is transaction can be approved and can be retried. And that's what we do. And we do it in all different scenarios. So in 3D modes with the tax code that you get, or now we have 3Ds too, which is more evolved. So we know how to do it between many different types of transactions and actually save transaction. We save today, around 10% to 15% of our clients declines. 

Matthew: Huge amount really isn't it? So essentially there's no limit on the amount of retries. It will continue to go through, it just depends on how many providers you have in your route.

Ran Cohen: Exactly.

Matthew: Very good. That's all the questions that I had from our online audience. However, do you guys want to add anything else before we say goodbye to everyone?

Ran Cohen: Well, first of all, and I think the most important, just before we finish, we want to say a big thank you to Bridger people. You don't get to see this bunch of devoted guys. All looking at the vision that we want to create and want to have here in Bridger walking together and towards this goal and making our vision come to life. So we want to thank you guys.

Yaron: Thank you

Matthew: I have one more cheeky question stands for the both of you. What's your favorite aspect about Bridger pay?

Ran Cohen: Well, I think the...

Matthew: The pool that we have in our offices.

Ran Cohen: The pool in the office. No, I think that the fact that every day the business is growing and changing and we are working with many many different verticals from governments to travel and ecommerce and retail and it becomes so big and wide and even more than what we ever think about.

Matthew: That's exactly my favorite part. All the diversity not only the different industries that we can tackle but the people in the team that we have. Everyone is very mixed and it's great. Well that's it from my side guys.

Ran Cohen: Thank you very much guys.