Optimize your online store payments with Cash Cow & BridgerPay

29 Apr 2022

Nir Bitton: So let's start basically to with a small introduction. I'll tell a few words about myself. And then Yaniv I will give you the opportunity to present yourself and a bit of Cashcow, I'll just stay give a kind of phrase. This is another shared webinar like the previous one that we did with an external company, which is not Bridger pay that we're doing with the Yaniv. Yaniv is from Cashcow and from time to time, we will host another company that Bridger pay have or establishing good and long relationships with. So at the moment it's cash cow so we will focus about their solution, what values do they bring to the table and how they can help your business to expand and increase its sales. And I will just start with a few words about myself. So this is my second webinar here at Bridger pay. My name is Nir Bitton, I'm the VP sales and business development of Bridger pay. From who doesn't familiar with Bridger pay, so we are a payment operation platform basically we're here to assist businesses to serve and support all the kinds of payment issues that you're facing if you have your ecommerce website or traveling agency whatever it is, we can definitely sort and solve all your payment issues. And here with me, as I said is the Yaniv Feldman, the CEO and the Co founder of cash cow Yaniv this big stage and tell us bit about yourself.

Yaniv Feldman: It's very excited and happy to be here. Cash cow, I'm a co founder. Cash cow is an E commerce platform a do it yourself ecommerce platform. We build it from scratch. It's our development. It's not open source or something like that. And it allows small businesses to open their own ecommerce store without any knowledge or any assistance. It's really four or five clicks and you can open an ecommerce platform.

Nir Bitton: As simple as that?

Yaniv Feldman: As simple as that. And you can sell your products or your services and really build your own commercial ecommerce website by yourself.

Nir Bitton: Alright, so first of all guys, once again, if you have any question to Yaniv or for myself, do not hesitate to ask us in the chat or the questions area. So Yaniv, the first question that I want to ask you is basically to tell me, what is cash cow? Where did this name came from? How did you think about creating it?

Yaniv Feldman: We created cash cow like I think nine years ago and my business partner and my friend is the brilliant tech guy who created cash cow. He is the main developer from the development from nothing. And it started when business pages on Facebook were really hot, let's say. And we wanted to create something that businesses can sell the products on Facebook, in a tab, in the Integration tab and sell the products. And then we started from nothing. And businesses wanted to sell the products on Facebook pages. And from there with development in get bigger and bigger and we saw the demand to create their own website not just to sell products. And from there we developed it, created a really one stop shop ecommerce platform that every business can create his own store and sell the products. That's the system in one sentence, let's say.

Nir Bitton: All right, yeah.

Yaniv Feldman: And today, cash cow has more than 2000 merchants that sells a products or services from Israel and also a couple from the world. Every business can just create the account just a register with email and password, in a couple of minutes. You can upload the products even with Excel, API or a tech options. And they will have their own ecommerce store. The main advantage of cash cow is that you don't just create an e commerce Store they because user wanted to bring them then add the add value. And we integrated to the most options that ecommerce store needed. We develop payment solutions, the shipping options, the accounting options, every business doesn't need to search or get a developer to do the integration. We already did it. And that's why it's a one stop shop. You don't need any tech information, doesn't have a tech guy. You can do it by yourself. Everything is already into the platform.

Nir Bitton: I see. Okay, great. Now there is one question that I want to ask. And I'm sure the audience is also kind of curious about where the name cash cow came from?

Yaniv Feldman: Cash cow is the universal sentence. It's hard to say it in English. But it's a stages when the business is cashflow, the money comes and goes every time. It's very famous sentence.

Nir Bitton: I think in every BA or MBA in management, about the cash cow level of business say I know what you're aware of. There is one question, another question actually that I want to ask you what is so for example, let's say that they want to be an ecommerce entrepreneur and they want to open my own website and start to sell my own product. Probably I have a good connection in importing something from I don't know far East, Europe, whatever it is and I want to sell it to do rebranding and resell it worldwide or locally even. What is the advantages of using kind of cloud system or platform like cash cow rather than just go and build my own tailor made website so?

Yaniv Feldman: The main advantages when that's why a lot of businesses create their own store in cash cow in ecommerce platform that's already ready for it is we already did all the connections, we already have the connection to the shipping companies, to the payment gateways, to the accounting. I would say it's very localized, every business in Israel, let's say every business owner, that's when open website and cash cow. It's a very localized to his country and his options that he needed.

Nir Bitton: I see. Okay, so basically in other words, let's say that instead of going to an R&D resources and open to create my own website and buy my own domain server and to connect to invoice system, and payment system. Basically, I can just go to log into your website and you said, if I remember right by four five clicks, I'm just like, creating my own website.

Yaniv Feldman: Yeah, I would explain it differently, because you go into something that was already is built and whether is ready, and 1000s of companies already open their own online store, everything is ready, the product page, the category page, do you want to connect the shipping company or just do a copy paste of the username into where they connected. In one, you will have already the option to manage your inventory, you have all the things that you need to start to use and market your website, you already have a system in so it's already in the system.

Nir Bitton: I see, by the way that you have a question in our chat from Liz. Liz, we will answer this exact question in a minute or two. So I suggest just to stay tuned with us. And we'll just answer this question, in few minutes. So Yaniv I just want to go back to what you just said. So let's say that once again, I'm the ecommerce entrepreneur. Instead of spending, once again my resources on stuff that, I don't know how to build a website, I'm not aware of how to build a website. I'm not aware of, I just know where to buy the product, how to rebrand it and resell it. So we're basically saving me a lot of time of money around to create an established my own website and start selling it. So it's kind of accelerator works or expanding or fastening all this process of creating your own website, which is I think when someone which is not a, it's more entrepreneur rather than the tech guy, you make his life much much easier I assume.

Yaniv Feldman: Yeah, I can also say, from getting from a place that you don't have an E commerce option to sell, you can go to the from zero to one, you can get it for really really fast without any knowledge or you don't need to learn it or something. And you can really get really, let's say realistic a couple of days, if you have the products and pictures and everything. In a couple of days you can open your online store.

Nir Bitton: Amazing. Actually, it's amazing because I've been struggling with this on personal level. Personally, I've been struggling with it for few times. And I finally found a solution. But now it's making life so much easier, even though that you're Hebrew speaker so even more.

Yaniv Feldman: We also add that because you created open the store in a cash cow, there is a mother and father for the cache of the platform, you don't need to deal with a security or storage or everything we do everything will of course give you support in customer services. So we just need to work on your website, to sell, to ship, to work with your inventory. That's what obviously you need to do.

Nir Bitton: So in other words, just focus on the business side of your business rather than the tech side of your business which are not familiar with obviously. And then you can expand basically your sales and grow your revenue. It makes a lot of sense by the way when you're phrasing it that way. Yaniv there is another question I want to ask you which is kind of relevant to all of us, which are a globally how did the COVID-19 Coronavirus affected your business? I mean, did you learn anything new from that? It's make you to change any kind of your product vision, your expand. So what was the really effect of the COVID-19 on cash cow?

Yaniv Feldman: It was amazing. I have to say it's like 40% growth from because of the COVID. a lot of messages that weren't online, had to go online eventually and COVID just accelerated that. I have accepted but if you want, we live in the center of a city. And there was a shoe store. And the store is the owner is really he's like from old school, doesn't do a new tech things or digital things. And because of the COVID, his sons also always wanted to open an online store. But they didn't do that. And because of the way they had to do it. And until now, he's always really going well and is getting bigger, and he has more inventory and more sales. And he's really happy that he did it eventually, because of the COVID. But it's like it took step forward, and he doesn't look back anymore.

Nir Bitton: This is amazing because, first of all, speaking of COVID-19. So you couldn't let, as a business owner, you can let yourself to be just with a physical store. It doesn't make sense anymore, just like those days are basically gone. If you want to survive and you want to be, to keep your business growing and working, you must be online as well as long as your services that or your products that you're selling on relevant online. So this is one thing that I'm crossing my mind that you have to have your own shop online in order to kind of survive and to grow. But here's the other point, which also relevant to what Liz is asking about. If you already have your online store, let's say that you're located in Israel or in Europe, whatever it is, doesn't matter. Let's stay with Israel for a second. So you have your online store in Israel and it doesn't have any, you don't need any physical except for locate to keep your inventory. And basically that's it, there is no reason to not start selling worldwide I mean, because the only changes that you need to do or you know what you can maybe tell me better what the changes I need to do in order to expand for my store my online store from selling locally, let's say inside Israel or inside Germany and that's it rather than to go to expand to a global store, what are the gaps that I'm facing if I want to do that?

Yaniv Feldman: We see a lot of our customers or business owners meaning going to sell abroad and that's why we developed a multi language, we support multi language. So a lot of store owners can create an online store like in Hebrew and also add the languages like English or Spanish and Russian. And the main struggle for them to sell back to Europe or to the United States is first of all is the shipping. It's really main issue, you need to find a good shipping company to know how to do it. The second issue of course is, you want to get credit card payments you get a gateway payment that support international credit cards and usually today use of Paypal or or one or two more international options to get a credit card or you can choose your local credit card company but the percentages of them are very very high also Paypal are also high. So this is the main issues about selling to Europe or United States are somehow not localize the place.

Nir Bitton: So it just to summarize the last few sentences, if I have a local store and I'm selling locally and I want to expand myself and my revenue to start to sell abroad basically I have two main gaps. One gap is that I need to have kind of relationship with the worldwide shipment company kind of UPS and by the way not doing advertising for anyone but kind of UPS, FedEx or similar companies like that, that can ship your product for wide. This is one thing which is makes sense, you need to deliver your products from to overseas and the second one basically is irrelevant to what we're speaking here you're saying it's payments because me as an Israeli let's say that in Israel, American Express credit card is not really acceptable or diners as much as in the United States. So we can have different kinds of payment preferences in regarding that so this is one limitation. So the next question, how is Cashcow is going to handle it. I mean you have an idea let me know if I'm wrong, but you have the idea of expanding your services and become globally right?

Yaniv Feldman: Yes, Cashcow in the until the end of year should go globally and that's why the platform will be translated to English. And we will support a lot of local options like shipping options, localized shipping options for a lot of countries. And that's why because we're going abroad, that's why we also connected to Bridger pay and we want to have every business have the option to sell to every country and get the money in the local currency, and pay as less as they can and not pay a lot of percentages to let's say the credit card company or Paypal let's say.

Nir Bitton: Right. So just to put it in a kind of better frame. So let's say that now I'm the owner of the e commerce website in Israel, and I want to start to sell my product globally. So you said by the way, it's answer at least question you said that you have already established your connection with the worldwide shipment company that they actually can provide services to the merchant that using Cashcow services, but more over. There is another thing that we want to serve better our clients and provide them better experience. I mean, cash cow clients and merchants, which is the payment sector and payment area, which here is Bridger pay is adding all its value in our core system of supporting payment globally. So basically what the Bridger pay and cash cow is about to do. We are in the final stages of doing integration between Bridger pay and cash cow. So basically Bridger pay will be the Provider, service provider not the payment provider, the service provider to cash go merchant. To Whom have you doesn't know Bridger pay is connected to more than 350 Payment Service Provider and alternative payment method that covering a worldwide. I mean, we are covering literally except that forbidden countries, we are covering worldwide. We are supporting that more than 80 currencies.

Nir Bitton: So it necessarily mean so if I'm installed on Alberta, I want to receive my income checkers in Israel. And I want to sell my product, let's say in Brazil, the Brazilian client can pay me with Brazilian rial and eventually, as an Israeli merchant, I will receive the funds with Israeli shekel. And so we are supporting as I said, we are supporting more than 80 different currencies. So just think about you as a client how many times you had to pay with not in your familiar currency on the world. And to suffer from the conversion high conversion rate, I have to say from the credit card company or the bank. So basically, we are cutting it. And we could offer to customize and let's say a customized and a localized sorry the payment method. So for example, if also, if you can see in the poll, a one of the most common payment option that we have in Israel is Bit. Now if I'm sure that cash cow website is supporting Bit, but for example, if I'm selling my product in Germany, I have nothing to do with Bit. I not even familiar with this kind of payment method. So basically, we are doing kind of a localization and personalization of every country and its own payment method that is more common in this country. Yaniv I think at this point, it's worth mentioning that we'll do another webinar in 6 or 12 months post integrations once we will finish the integration. And it will be interesting to understand where now. So what changes the drive to cash cow and to cash cow merchants. I mean, if you see more people are selling abroad, if you're seeing a more, people for abroad because I assume now that the code base of your cash cow clients are from Israel, right?

Yaniv Feldman: Yes.

Nir Bitton: Yeah. So it will be nice to see if you know it'll change a bit the demographic spread of your clients if they are not only from Israel now but from other territories. And to see where it went to.

Yaniv Feldman: I'm sure it will, in a lot of businesses will have the options to say if let's say you will give their businesses the option to sell on abroad I'm sure most of them will want to have this option. They wanted to also today but because it's very difficult to ship into and you will pay a lot of percentages. That's why we're not doing it right now. And that's why we want to fix and let them have the option to do it.

Nir Bitton: So yeah, you're basically making the sense. I mean, you're making the sense visible when you're basically telling the guy you already selling online, there is no reason just to sell in your country go and sell globally. Liz did we answer your question? Okay, let's wait. Yes. Okay, perfect. She's typing, of course, you're welcome. Guys does any anyone else have any questions to ask us, please do not hesitate. By the way here in your screen, you just see what we're working on, which is the integration between Bridger pay and cash cow. So, first of all, as a merchant using cash cow, you will be of course Bridger pay user and client, but your end user your purchasers won't be even aware of Bridger pay is part of the process. So we are seamless behind the scene integrated into your platform. And basically just processing the transaction for you as a merchant through all the options that we are offering to our clients. Now, this is how simple it will be. So you have to do one integration with our product. Andrew this is a great question, I will answer it shortly. So this is showed a picture of the process that we're doing now. So you have if you use Bridget pay solution. So basically, you have one integration to do. And basically we're making the tokenization of the credit card, your property, not the PSP anymore. That mean that if you want to change a PSP, you're keeping the credit card details by tokenize. So it's 100%. Of course, it's everything is regulated. So we just keep it as your property. And as you can see, you can drag and drop all the PSP solution that we can offer for you and basically build your own route.

Nir Bitton: So if you are trying to go and expand your services into Europe or to the United States, and there have a different payment methods over there. For example, in the European in, let's say in Germany and Netherlands, Ideal is very common. So if you want the client to face first of all ideal as a standard payment method, you just drag and drop ideal. And this is the first payment method that you will offer to your clients. So no more challenging integration, which require a lot of IT resources and everything, just from whatever you have on your website, just drag and drop. And that's it you can start sell globally with your local clients, a payment providers. Now I saw that we had few questions. So Natanael is asking us if we can name some payment options. Yes of course we have you can see it in front of you. So we have Stripe, Worldpay, Bluesnap connecting to more than 350 different payment methods. In every country, we're trying to use the most common and the most relevant one so you can offer your clients the most a personalized and localize a payment checkout. So I'm sure that every one of you that purchasing from a local a local shop, it has the unique experience that you're expecting because it's locally integrated knows it's audience pretty good. So we are aiming to do the same but worldwide, globally. And so Andrew is asking about the advantages that Bridger pay has over other payment platform. So Andrew, first of all a this is a great question. We have a lot of advantages over our competitors and over payment platform. And I'll be more than happy yeah, he's typing. Let's see. I start with that that our default feature of retry is working from the moment that your setup. Could you please speak to......

Nir Bitton: Yes, so also those two are pretty easy to use. So once whenever you want to add another payment provider or processor into your route, just you need to close the terms and condition with the PSP the payment provider, it's doing outside of Bridger pay scope. Because we are out of this process. We don't have any interest between you and the PSP. And once you get your meets from the PSP, you just need to implement into your Bridger pay platform. And once it's set up, you just drag and drop as I said to the right place where you want it to be. So for example, if one PSP gave you better condition terms MDRs rather than the other one, you can basically drag and drop him to be the first one. So whenever you process credit card with this PSP, you will charge less than rather the other one. And regarding a so I was starting to explain about the retry feature. Basically, the retry feature. So for example, I'll give you a personal example. Something that happened to me, I was trying to purchase in a flight ticket from a European company and putting my American Express credit card into their website. And basically, the card was declined. So you know, because I'm from the industry, I was aware that this is an option this is could be, but just think about my experience as a client. And how easy was it to me to go to their competitor, which will be probably, and just book the flight from their website with my AmEx, and just finished the purchase.

Nir Bitton: So it's pretty clear that this website that I was looking to buy it first didn't have any payment route, it's mean that it didn't yet just one PSP was providing the service to that once my credit card was declined, I didn't have any other PSP in the route to go and try to save this decline transaction. Now, what Bridger pay does, our retry feature is basically we are a putting in all the other PSP. So for example, let's say, NCR and BlueSnap and Stripe and Credit card and Visa. And if the first transaction, my credit card was declined by the first PSP automatically goes to the second PSP, if the second PSP, the payment service provider declined also, with the second one, it automatically goes to the third and the fourth, if needed. So basically, in other words, seamlessly from the client point of view that he doesn't aware of it, we are going through the route that we have created by ourselves in order to secure the approval of this transaction. So few things that I have to say about it first, instead of integrate and build your own routing by yourself, we can do it for you easily just need to provide the needs and we can build a portfolio. Second, we can put money back in your pocket, if you didn't manage to process, if the first PSP couldn't manage their transactions going and process the transaction. So with the same budget for marketing and sales basically with the same traffic in your website, Bridger pay can increase the revenue. And third, we are around to improve your client experience because you will offer him his local payment providers. And more than that, we're helping with retention because, for example, if a client wasn't aware that his card was declined because the PSP doesn't support his card. He can understand basically, maybe it's a fraud, maybe it's not a real website and go to some other website that is familiar with. So also we are helping in supporting your own client retention. Yaniv, do you have anything to add on top?

Yaniv Feldman: I have to say that because I talked with the merchants and they see the problems that they have, it happens a lot really, really a lot. And I wished we already finished integration that you can offer. Because there's a lot of payments that didn't go through and the customer buys from another website and they lose the payment. So it happens a lot. And I think it's a great option.

Nir Bitton: This is literally a happens a lot. I'm aware of it, it's happened to me too often, I have to say, and I don't have any other better way to describe it rather than just, as a merchant, we are just simply putting money back into your pocket. So what is the average cost and timeline of for adding new PSP not already incorporated into your platform? So Nena this is also a great question. add a new PSP interval integration without a for example, Bridger pay can take between one month to three months, I have to say. And the cost of it is depend of the IT resources and the R&D resources that you have to put on it. With Bridger pay, it's simple. You just need to go through the KYC with the payment service provider, which can be quick like one week or two week. And then with less than I would say one week we can do the full integration of the PSP to your merchant admin to your store. And the cost by the way, the cost of the PSP by the way, it's between the merchant and the PSP. As I said Bridger pay has nothing to do with it. We're not getting into this area. We don't have the interest to go there. So Liz is asking can you deep dive a bit more on the tech side on the kind of integration support, etc. So Liz I'm not sure if you're speaking about Bridger pay or cash cow. So if you can tell us whom should answer this question, it will be good. But of course. Both Okay, so Yaniv do you want to start?

Yaniv Feldman: Yeah, cash cow. The main advantages is the tech side, we have, of course, the option to end API, web books, connections to is up here into government and a lot of tech options that you can connect and do automation and a lot of things. Because we're a tech company and digital company, we did a lot of integrations, as I said before, to get credit gateways, to shipping companies, to CRM platforms, even to a physical SKU and computer that you use it to manage your inventory. And we also have an app store. So every business, every store owner can add it's applications like in Israel, it's very very useful it's a Saturday that in the holiday the website is closed. So you have a lot of options. Of course, we have the when you want to do the publicity, we have connections to Facebook to Instagram, you can implement a HTML on the head and the body. So we have all the integrations, even in the market area.

Nir Bitton: Thank you. Thank you Yaniv. So two things, first awesome Ben, I have to say, is inviting you I sent you a link if you want to have a deep, more deep conversation about the Bridger pay, and what we're doing but just to answer quickly about your question. So I want everyone to could listen to the to the answer. So asking about the tech side of the Integration and Support. So first of all, I want to kind of I hate to over promise and under deliver. But here I feel like I need to commence the integration with Bridger pay is extremely easy, even the payment service provider telling it about us. So a lot of time the payment service provider referring to us their merchant in order to integrate with us because they find it much easier. And so the integration, I'm not a tech guy, of course, but the integration should be quite easy. It's a quick setup process inside in our website. And then you just need to implement your mid. And by the way, you asked about support. So if you need any help with creating your merchant admin page, have a look at Bridger pay, our support team will definitely could help you. And if you need, you can have a call with our PSP expert to tell you more about the PSP world and what you should do. It's very different if you are from an industry or from other industry, if you're trying to sell to a from one territory to other territory. So you can actually have a 15 minute call with one of our PSP specialists to explain you exactly what you should do and how we should do that. And of course, I will support and we'll be more than happy to help with any kind of integration that you need and also adding on top as Ben suggested you can have, you can access this link and schedule a quick meeting with us.

Nir Bitton: Guys, there is any other question that anyone wants to ask or anything that we didn't answer. If there are any other questions, this is the time. We're 40 minutes close to beginning of the webinar. So we're really close to end. So feel free guys. Okay, so if there are not any other question, first of all, if you have any or don't want to ask here, you can have, I'll put in the chat my own email, so you can send it directly to me. I'd be more than happy to chat with you guys. Yaniv, you can put it as well. So if anyone has any questions for you, they could approach. Hold on let me put my email here. Yeah, here it is.

Nir Bitton: Guys, I want to tell you once again, it was a pleasure to be here with you and to host this webinar. Thank you so much for taking thinking part of this webinar. Yaniv special thank for you and for cash cow for joining us to this webinar, I think that you are doing an amazing job and hopefully we can have great news soon finish this integration and all the audience could enjoy the great value that both of the company can bring to the table. Yeah, any last word that you want to give to the audience?

Yaniv Feldman: No, thank you. Thank you very much for listening and being here and we also here for everything if you have a question.

Nir Bitton: Great. Great. So once again, guys, thank you so much. It's been pleasure. Have a nice day.

Yaniv Feldman: Bye bye.

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