Residuals Rate Hikes & Reality: Inside ISO Economics | Payments Due Diligence Hack That Saves Money

Ever wondered why that “free” POS hardware ends up costing so much later? Christopher Dryden, Esq., sits down with Magnolia Ventures’ Jessica Casto to pull back the curtain on modern payments strategy: how software-led distribution reshaped acquiring, why processor-agnostic design protects leverage, and where the fine print quietly shifts risk to the least prepared party. We move from the realities of US card economics—reward-heavy credit that pushes up costs—into the trenches of cash discounting and surcharging, where debit rules, tax exclusions, and state-by-state quirks can break a great pricing story if your product can’t adapt.

We talk through the rise of SaaS add-ons as vendors chase lost processing revenue, and we map the contract terms that matter most for ISVs, ISOs, and resellers: Schedule A transparency, onboarding responsibility, chargeback support, and residual ownership. Jessica shares a practical playbook for tech companies entering the US market—collect multiple processor proposals, compare effective margins not just splits, and engineer optionality so you can route, renegotiate, or switch without rewriting your stack. If you’re subsidizing hardware, pressure-test your payback periods against debit-heavy mixes and capped surcharges before you scale.

Education is a recurring theme. Too many operators and even CFOs don’t read merchant statements, miss pass-through fees, and get blindsided by portfolio-wide basis-point hikes. We make the case for productizing compliance: build configurable pricing engines that exclude tax, respect card-network caps, and flex with state regulations—and notify partners before merchants feel the change. If you sell software, payments isn’t an add-on; it’s a strategic capability. Tune in to learn how to negotiate liability, design durable revenue, and plan your exit on day one.

Enjoyed the conversation? Follow the show, share this episode with a teammate, and leave a quick review so more builders and operators can find it.

**Matters discussed are all opinions and do not constitute legal advice.  All events or likeness to real people and events is a coincidence.**

PEP Links:
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A payments podcast of Global Legal Law Firm

Transcript

Cold Open: Know Your Exit

SPEAKER_02 0:00

Yeah.

SPEAKER_01 0:00

But when you're coming in, you should be looking at your exit too.

SPEAKER_02 0:03

Yes.

SPEAKER_01 0:03

And what you just said about, hey, you know, I think a lot of people start in this business and like, oh wow, I'm making money. And oh wow, it keeps coming, you know?

SPEAKER_02 0:11

You don't know how many DJs that I former DJs that I've met that are now making more than doctors. You know, and it's like, you don't really do you know the difference in a per item fee or a a transaction fee, like in how this relates to what the merchant's paying. And they're like, oh what? Like, exactly.

SPEAKER_01 0:27

This is crazy. Well, no, even with some of our more sophisticated clients, like one of them emailed me last week and they were like, you know, they said, hey, like with fam fees and this type and this type. And I'm they're like, you know, can they, you know, is this a pass-through fee? And I'm like, yeah, dude, like, read a merchant statement.

SPEAKER_00 0:44

Welcome to the Payments Experts Podcast, a podcast of Global Legal Law Firm. We hope you enjoy this episode. Really excited. We got an in-studio podcast today. Joining us is as usual, we have Christopher Dryden, founding and managing partner of Global Legal Law Firm, as well as our special guest, Jessica Casto of Magnolia Ventures. Jessica, we're really excited to have you in the podcast studio here. Looking forward to a great conversation. Welcome.

SPEAKER_01 1:17

Awesome. Thanks for being here, Jessica. Glad to have you in. Um, I've only talked to you through email before today, so it's actually kind of put a good to put a face to a name.

SPEAKER_02 1:25

Yeah.

Jessica’s Path Into Payments

SPEAKER_01 1:26

Um, so uh I think normally how we start is just, you know, tell us a little bit about yourself and then tell us how you kind of like rolled into payments and what your experience is.

SPEAKER_02 1:37

Yeah. So um originally I wanted to be on the news. I studied public relations and journalism, and I did one little segment in front of the camera. It was the worst experience of my life, and I ended up getting into banking sales. So I started my um career in payments at L Livon. I worked with uh a very large financial institution and about seven other tier three banks, community banks that had less than I was just saying, tell tell everybody where you're based out of. Yeah, I'm based out of of Arkansas. So the natural state where Walmart is headquartered.

SPEAKER_01 2:10

Are you are you in Arkansas University of Arkansas? Are you a hog or are you go somewhere else?

SPEAKER_02 2:14

I went to Stephen F. Austin in Nacky Doches. So originally from Texas, but I I feel like I'm in Arkansan. I cannot tell anyone from Arkansas that I am not a Hogs fan.

SPEAKER_01 2:23

It's like I actually know somebody else who went to SFA.

SPEAKER_02 2:26

Oh, you too?

SPEAKER_01 2:27

Yeah, but older, yeah. But the um they uh I've been to Nackydoches, believe it or not. Yeah, totally.

SPEAKER_02 2:33

Yeah, yeah.

SPEAKER_01 2:34

It's pretty. Yeah, don't think I'd want to spend more than a weekend, but yeah.

SPEAKER_02 2:38

Yeah.

SPEAKER_01 2:39

Yeah, totally.

SPEAKER_02 2:39

So so got out post post-college. But yes, you have to be a Razorback fan if you live in Arkansas.

SPEAKER_01 2:47

For sure. Um, so when you were starting out in payments, was that in Arkansas?

SPEAKER_02 2:53

Uh yes, it was. I started out in Arkansas.

SPEAKER_01 2:55

Okay. And what were you doing you're talking about working for Elevant?

Bank Partnerships And Rate Hikes

SPEAKER_02 2:59

For Elevon. So I uh managed bank relationships, one large financial institution, about seven other banks that were community banks. So they had less than 10 billion in assets. And so I was a sales rep in the payment processing space. And um it's like once you get in the industry, you can't leave it. And it's also very exciting. Every single day you learn about a new business, you learn about a new vertical, and um, you really are able to help them. Um, my issue with the industry overall is that what I started to realize is you know, we present rates and with certain uh processors, uh, after six months or a year, the processors who really control the portfolios um can increase those rates. So what you're presenting to the business owner, which they they need to know because this is how they properly price their product, their services, this is a cost of doing business, um, their rates would increase. So um if they noticed, if they yeah, if they notice, and and when you increase their rates by 50% after a year, they do. They're doing a significant amount of volume.

Launching Magnolia Ventures

SPEAKER_01 4:11

Yeah, well, it's interesting you say that because recently I've seen across the board in certain places uh rate increases happening, but like portfolio wide. Like I we got a guy that works with Thesis and he's a retail ISO, and they banged his portfolio for a hundred basis points per merchant. Yeah, totally. Yeah, and he was like, Whoa, he he and he he said to him, My high volume merchants, it's you know, it's gonna be noticed. And their response was sort of, yeah, but you're getting 80, 85% of that increase. And he was like, 85% is zero, zero eventually, yeah. So like, no, I get you. So what was the um like now you have Magnolia Ventures? What was the genesis to Magnolia Ventures? And what is Magnolia Ventures focus on?

SPEAKER_02 4:57

So what I focus on with Magnolia Ventures is creating strategic alliances with technology companies, with businesses and and payment processing companies. So I have worked with a lot of uh technology companies that are new to the United States, and our banking structure is completely different than um that in Europe or Canada. Um, like Canada, 80% of the transactions are on a debit tier. Um, and here we're dealing with the opposite. You know, we're seeing all of these rewards cards and and the rate is higher.

US Vs International Card Economics

SPEAKER_01 5:32

So um Do you not see do you not see uh as much of these rewards programs in other places? No. Europe either?

SPEAKER_02 5:39

No. I didn't I didn't know that. I mean, it's completely different. The banking structure structure is just completely different. The rates are different. So what the business owners in the states are paying is uh significantly higher. And the process are higher margin also.

SPEAKER_01 5:55

So it's yeah, most uh merchants don't know because this is one of the things that I when I first got into the industry, like the I don't even know if downgrade surcharge is a term that really exists any longer, but a lot of people were on these pricing structures where the merchant didn't know, like, oh, if you're accepting a rewards card, you're paying for the reward, you know.

SPEAKER_02 6:15

You would be shocked at how many CFOs of of large companies that have no idea how all of this works.

SPEAKER_01 6:22

Oh, I wouldn't be surprised, actually.

SPEAKER_02 6:24

This isn't something you can sign up to learn about or teach. I mean, there's where where do you go to get a course? Unless you're, I guess, tune into your podcast. I've actually sent your podcast to um a couple of tech companies to use for like training sessions on surcharging for their sales team because they're out here trying to sell payments and technology and they have no idea, you know, what some of these terms mean. And it's just such a gray area, also.

Software-Driven Selling And ISV Power

SPEAKER_01 6:47

Well, I uh that's the whole thing, is you know, for us, you know, I tell people, you know, the what limited uh amount of technology I really know and understand is based on payments and kind of how it's just sort of been the natural progression with everything. I mean, it's uh I'll say it again, Alan Koppelman, if you're not selling software, you're dead. And in this industry, everything's driven by software or some sort of integrated product, and you know, even to the point where I've seen, you know, now it's like the really the people that had the forward thinking were the ones that looked at technology and said, Oh, I need to be a gateway provider.

SPEAKER_02 7:27

Yeah.

SPEAKER_01 7:27

Oh, I need to do this, oh, I need to do that. And they sort of saw ahead of time, and that's I think the difference. Like when I got in, it was like shortly after I got into payments, it was like right after the downturn in 08 with the with the mortgage crisis. So you saw all these guys that were out selling mortgages, yeah, just transition over to payments, and then it was just the sales cycle that they were on. And I've seen 75% of that sales workforce go away. Yeah, and the people that remain are the ones that understand what you're doing.

SPEAKER_02 8:01

Yeah.

Processor-Agnostic Strategy For ISVs

SPEAKER_01 8:01

You know, so what does your typical customer look like?

SPEAKER_02 8:04

Um, my typical customer is uh a tech company that's new to the US and they're looking to quickly go to market with a sales force that they don't have to put out the capital for.

SPEAKER_01 8:16

And is that um when you say a tech company, is that just like software-based or software. Yeah, and they're uh usually focused on some sort of industry to like a CRM system.

SPEAKER_02 8:25

Yes, CRM system or point of sale system. Um and I feel like I'm lucky enough right now that I can kind of pick and choose who I work with. Um but I want to make sure that it's a good product, that it's processor agnostic, because things that I really believe in. Um because I think you know, these these larger companies like the toasts out there that are their own processor, it takes away the financial control away from the business owner. So I typically like to help um these technology companies set up a platform that is processor agnostic so that they can work with you know, thousands of of sub agents from you know, viable ISOs that are professional and um uh what's the other word? Uh knowledgeable? Yeah, knowledgeable. Like it's it's hard to find that.

Liability Shift In POS-Processor Deals

SPEAKER_01 9:22

Well, no, it's interesting because we were talking before we started, and I always find it because we're so we have a lot of attorneys that work in our firm, but there's only two business owners. And I don't know how many people here look at this place as a business as much as they look at it as the work that they perform as a professional, right? And and there's those are two very distinct buckets, right? Because when we're looking at it as a business, like I'm actually watching our clients and what they're doing, and I'm taking notes all the time as to how they operate their business. And what I've seen is, you know, everybody's always talked about is like, is it the end of the ISO, right? I mean, that that question seems to come up every couple of years, like, you know, is the it's the is the ISO gonna get kind of phased out. And then what you just said about the idea of there being um all these agents out there that can like competently sell. Yeah, I think that's so important, but a lot of the super ISOs, what I'll call them, you know, like the more sophisticated and definitely not at the processor level, I don't think they give enough like importance or credibility to that concept. But then I've seen others that look at the agent base and go, oh no, this is my vehicle. And then they're out there with platforms of here's the 50 technology companies that we have relationships with. You don't have to manage the relationship we do. Yeah, you just gotta go sell it, you know. I think my camp's one that comes to mind because you know, he's got the myPOS, you know, platform where all of the like all you have to do is sell.

SPEAKER_02 11:07

Yeah.

SPEAKER_01 11:07

Yeah, which I think is awesome.

Cash Discounting, Surcharging, And SaaS Fees

SPEAKER_02 11:09

I mean, my camp like changed the trajectory of one of my clients just because they opened up this point of sale system to their entire network. It was a great point of sale system. It was needed in the industry, it was cutting edge. Um, it was replacing uh uh a dated technology that was out there for the hospitality space and um it worked. We we did a couple of, I actually found the test sites. I like to do that first. I like to sell it myself to make sure it will work. And then um, and then they opened it up to their entire network and it grew quickly.

State Rules, Debit Limits, And Edge Cases

Arkansas Contract Protections For Merchants

SPEAKER_01 11:44

Well, that's I I agree with you. Like I feel as though the idea of strategic partnership. I mean, you know, you were talking about Elevon earlier, and I look at most processors, even ones like Elevon that have a pretty strong MSP base, yeah, because they kind of do treat their MSPs a little bit different, and I know it's a more finite amount, you know, like how they're operating. But most of them, I don't think, value those people enough or those relationships enough and what they can really do for them. And there's this short-sightedness, and really that's the drive. Like I always see it as the driver. Like I think, you know, the ability to have a platform where you can just go in, learn about new products that are available that might widen your target audience when you're out selling. It's like, oh, you know, I've never sold to a dry cleaner before. Yes, but hey, there's this awesome dry cleaner POS system that just came into the marketplace, and you've got somebody managing that relationship. So like you have so many more tools in your tool belt. Like, you know. Um, this is kind of just a uh an experience lately, but I one of the things that I like about having people that are like feet on the street, really like seeing what's happening in the marketplace. A lot of what I glean, you know, at least directly from clients, is usually at conferences and whatnot. The podcast is great for us because like I actually get to learn. Um, but most of my other learning happens like through reviewing contracts and seeing kind of what's happening out there. One of the things that I've seen recently is that you've got all of these, they call themselves payment processors. I have a tendency to believe that they're PayFacts or you know, just somebody like a merchant of record of some sort, but or maybe they are registered somewhere. But they're doing integrations with POS companies where it's just uh here, the POS company, we're gonna integrate to this software system. Now your restaurant can have this particular plugin that'll create a communication link between the register and the kitchen and blah, blah, blah. But when the and but and and then they're controlling the processing, but when they when they actually have given us the contracts, they've used it as this idea of here, we're gonna open up a master account for you, you're gonna open up all these sub accounts for your users, but they shift the risk of liability for regular things that an agent or a POS company wouldn't be responsible for, or reseller wouldn't be responsible for. Like, you know, um, and they're doing it by saying, here, you're gonna sell our product and you're gonna be a reseller, we're gonna bill you, you're gonna pay us, but you're responsible for everything the merchant does in our in our in our uh environment. And if there's a problem with our environment, your merchant can't come after us. Like, you know, and I'm seeing it on paper and I'm watching like a liability shift.

SPEAKER_02 14:43

Wow, that's scary because the technology company controls all of the back-end development that deals with that's right, and and so I've actually dealing with that now with a with a longtime merchant.

SPEAKER_01 14:55

So I I've gotten five different agreements that are kind of like this type of relationship where I'm seeing more and more POS developers and then they're looking for software to integrate into, you know, whether it's a convenience store or restaurant or whatever the business cycle is. And now I'm seeing these contracts where they're trying to push the the liability and the risk down more than it already is. I would only know that by like what looking at the agreements and then talking to our clients. Are you seeing stuff like because you're you're kind of in a catbird seat. Are you seeing anything in the last six months where you're there's a noticeable shift in how things are operating than maybe they historically have?

Fragmented Regulations And GTM Strategy

ISV Economics, Schedule As, And Revenue Share

SPEAKER_02 15:38

I would say really in the cash discount and surcharge place, a lot of the technology companies are wanting to implement an additional SaaS fee to cover any, I guess, lost revenue. If they're not getting the payment processing, they're wanting to add additional SaaS. They know how much uh a processor is getting with the markup over interchange on a dual pricing or cash discount account. Um so I think they're wanting to update the SaaS to get a pe to get a piece of that. Um other than that, no, I would say just in that specific line item, and we're seeing it on tickets even. And a lot of times the technology companies don't they really need to meet with you because they don't understand that you know we can't discount on tax ever.

SPEAKER_01 16:30

Yeah, well, it we actually we were talking about that before we came on. Like there, you know, there's the new bill that's coming out where they want to address the like removing tax from from interchange. I mean, that was even in Illinois's, you know, change to their law of not assessing interchange to freight charges or anything that's taxable. But I I'm I'm looking at the technology companies, and there's all these changes coming to the marketplace where I'm not sure and and this is probably conceptually, I understand technology, but not granularly. If I design my my software one way, how easy is it for me to pivot and actually redesign or put something into it that would address something like surcharge or cash discount? I've recently um in talking to one of our clients, they're they push cash discount and surcharge, but for some of the providers that they're hooked in with, they don't have a compliant cash discount or surcharge program or they can't do it for whatever reason. I I I'm not sure. I I try not to ask too many questions, but they literally will go to one particular provider because their ability to accommodate cash discount and surcharge for certain business types, it's different. Are you seeing anything like that? No, no, not how much conversation do you have with uh your tech uh partners about this particular subject matter?

SPEAKER_02 18:10

Not enough.

SPEAKER_01 18:11

Yeah.

SPEAKER_02 18:12

Yeah.

SPEAKER_01 18:12

Yeah. I could see because this is kind of like a real differentiator with a lot of merchants.

Read The Statement: Fees That Matter

SPEAKER_02 18:17

Yeah, I mean, we really don't address it until it's an issue. Until um, I mean, a lot of times the in in most cases, the ISOs do not know there's a change until the merchant brings it to their attention. Because most technology companies aren't notifying their uh ISO partners that there's been a change to the development side. They're notifying the merchants directly, they're custom their mutual customers directly.

SPEAKER_01 18:44

Are the ISO partners having the conversation on the front end when you bring a tech provider to them about cash discount and surcharge?

SPEAKER_02 18:52

Yes. Then everyone's at the mercy of Visa because the they change the regulations. It's hard to manage a moving target.

Wrap-Up And How To Reach Jessica

SPEAKER_01 19:04

Okay. So tell tell me what you mean by that. In the sense of because there's the 3% cap, but are there other things that you're seeing in the marketplace that state by state. Okay.

SPEAKER_02 19:14

Um changes state by state. Uh a lot of technology companies and ISOs are wanting to to provide free hardware to compete with the big giants out there. And in order to do that, there needs to be a certain price point on the processing side um to be able to uh generate revenue and pay back that initial equipment loan.

SPEAKER_01 19:38

So Well, I've I it's funny you say that. We have a client, I didn't know this, I just learned it. He sells POS systems and does processing through it. He is in he a lot of convenience stores, liquor stores.

SPEAKER_02 19:53

Okay.

SPEAKER_01 19:54

Ohio, you have to buy all the liquor for a liquor store from the state, and then you can only charge a certain margin. So what he got stuck with was they can't do the dual pricing cash discount because they can't raise it above the margin to put in the charge. So the list price, he can't go there. And then most transactions are debit. So you can't surcharge a debit transaction. Even if you run it as a credit, it's still a debit transaction. Yeah. And so he said 72% of my sales are debit. I can't go above what my state mandated like spread is. I'm stuck. Like, I don't know what to do. And he says, Do you have any ideas? And I was like, different different registers with different meds. Yeah. Like, you know, and everybody who wants to pay debit comes over here, and everybody who wants to he said that still doesn't get me around the fact that I'm capped on the yeah. And I said, Well, what about restaurants? He says, That it doesn't apply to them. It's only like the liquor stores or the convenience stores that are selling like the product direct, but not with something else. Ohio? Ohio.

SPEAKER_02 21:06

I didn't know it's like an Oklahoma thing to do.

SPEAKER_01 21:09

Yeah, dude, Oklahoma. That place is like the Wild West. That is the Wild West. Yeah. It was funny. I had a we had a partner, it's totally an aside, that did cash discounting, and they partnered with a bank in Oklahoma because it's a state chartered bank. And for cannabis sales, Oklahoma let all of these cannabis stores open with no legislation about them.

SPEAKER_02 21:34

Yeah.

SPEAKER_01 21:34

Yeah. Like they just like it was wide open. Like you could just operate a cannabis store because that wasn't legislated.

SPEAKER_02 21:40

Yeah. It's like there are banks, churches, and dispensaries.

SPEAKER_01 21:44

Yeah. Yeah, totally. I think that's funny. Wow.

SPEAKER_02 21:47

Yeah, Oklahoma is a neighbor of Arkansas. Well, one great law in Arkansas that helps all merchants is that leg legally a business owner cannot be tied to a payment processing contract.

SPEAKER_01 22:00

Really? Yes. They only have to do that. So they can't be a personal guarantor on any payment processing agreement?

SPEAKER_02 22:04

They can, but they can't be locked into a payment processing contract. They only have to pay whatever the monthly minimum is listed on that original agreement, no more than$50.

SPEAKER_01 22:15

So Expla explain that to me. So like if I if I decide to get out of the agreement, I only have to wait for the end of the term and just pay the monthly minimum.

SPEAKER_02 22:24

You can get out of the agreement at any time. You just have to pay whatever is listed as the monthly minimum. If there is no monthly minimum listed, or if the monthly minimum is listed at$150, then the merchant would only pay$50.

SPEAKER_01 22:38

So no early termination fee?

SPEAKER_02 22:40

No early termination fee. That's an Arkansas state law.

SPEAKER_01 22:43

Wow. When did that come out?

SPEAKER_02 22:45

Oh, it's been around for like 10 plus years.

SPEAKER_01 22:48

Yeah, that's great. See, that's the thing. You know, we do a bunch of work in cash discount and surcharge. And what you were saying about the state laws, that's the problem right now. And like we've said this before, you know, this administration, they've like ratcheted back regulation. Yeah. But when you take away that federal standard that maybe people can like aim for, now you've got all these disparate legislations coming out with from state to state and they don't match. And it's it's does that hinder or help commerce? You know, I mean, that's kind of the it depends.

SPEAKER_02 23:22

You have to have a different um go-to-market strategy state by state, if you're a technology company that's wanting to package payments.

SPEAKER_01 23:30

So, you know, one of the things that I think is really important, and I always look at it from an agent and ISO standpoint, but never really a technology standpoint. You know, an interesting part of the marketplace has been that like when ISVs first came into the market, they were like, Well, we just need a payment application, and they were taking like 10% referral fee. Yeah. And over time, you've watched the economics of those relationships where like ISOs were making a boatload of money off ISV relationships for a long time. And then ISVs like realized their bargaining power and their utility. But you know, I like payments as a revenue stream, you know, what what does that look like for the tech company when you're um when you're consulting them? Are you talking about that aspect? And so they're actually looking that, hey, not only do I have like this SaaS revenue, but I'm also looking at the payments revenue.

SPEAKER_02 24:23

Yes.

SPEAKER_01 24:24

What are the important parts of like when you're setting up the relationship for them? You know, what are the important parts that you think about that consistent revenue stream that they need?

SPEAKER_02 24:33

Yeah, I think one, um, you know, again, when you're away from the Livon dealing with the financial institutions and and you're off with the full service providers, the the ISOs, um, there are a lot of sub-ISOs that are out there that are wanting to also partner with the technology companies or wanting to gain these sub-agents or sub-ISOs. And um, what what people don't understand is is that um I'm trying to go like with with like one thing that I always do is I go to the the company's website and I always go to that bottom little footer, footer piece to see who which banks they're affiliated with, to know how big of a player they are and to know where they're going to be boarding, because that tells me a lot about what type of technology needs to be integrated into the point of sale system or the CRM system in order for it to work properly and smoothly. Um, and then also I'll collect uh multiple schedule A's and I usually present three to five to the technology company so that um they get an idea of you know what will bear in in the US market and and what is competitive. But um depending on you know who's going to be doing the majority of the work, whether it's a processor for onboarding and supporting these merchants, because they're supporting the technology, but it's also supporting the merchants if there's a chargeback. Um so who takes the responsibility there will also depend on how that uh revenue share is structured. But we're seeing much higher for referral partners. Um, I had a large payroll company for a while that was uh referring business to a payments company that I was part of. Um, but I think it's important for anyone to know, whether you're a sub-agent or a referral partner, what that schedule means. And when I started in the industry, um, I was telling Jeremy when I first walked in here, I wish I like knew that people like you existed because there are not a lot of uh uh attorneys that really understand the space and um what these revenue shares could be if you were to sell a portfolio.

SPEAKER_01 26:51

And well, that's the biggest one, right? I mean, yeah. We have a uh friend of mine, Anthony Malatesta, he's a principal at Wellesley Hills Financial, and one of his partners was on, I guess while I was gone. And uh podcast came back with Adam. Yeah. And uh, you know, he came on in May, uh, and we had a podcast where it was like, and I didn't understand this. And I I think partially I didn't know if I had the acumen to understand like the business life cycle, right? Yeah, but when you're coming in, you should be looking at your exit too.

SPEAKER_02 27:24

Yes.

SPEAKER_01 27:24

And what you just said about, hey, you know, I think a lot of people start in this business and like, oh wow, I'm making money. And yeah, oh wow, it keeps coming, you know.

SPEAKER_02 27:32

You don't know how many DJs that I former DJs that I've met that are now making more than doctors, you know, and it's like you don't really do you know the difference in a per item fee or a a transaction fee, like and how this relates to what the merchant's paying, and they're like, Oh, what? Like, exactly.

SPEAKER_01 27:48

This is crazy. Well, no, even with some of our more sophisticated clients, like one of them emailed me last week and they were like, you know, they said, Hey, like with famp fees and this type and this type, and uh they're they're like, you know, can they, you know, is this a pass-through fee? And I'm like, yeah, dude. Like, read a merchant statement. Well, look, this has been great. Yeah, really enjoyed it. Appreciate you coming on. If people want to find you, what's the best way to find you?

SPEAKER_02 28:12

Probably LinkedIn.

SPEAKER_01 28:13

Okay.

SPEAKER_02 28:14

Yeah, Jessica Casto LinkedIn.

SPEAKER_01 28:17

Magnolia Ventures.

SPEAKER_02 28:19

Magnolia Ventures.

SPEAKER_01 28:21

Okay, awesome.

SPEAKER_02 28:22

And email addresses uh Jessica at magnolia ventures.cloud.

SPEAKER_00 28:29

All right, perfect. Great. Jessica, thank you so much. It's been great having you on the podcast, absolutely. And thank you for listening this long to the Payments Experts Podcast, a podcast of Global Legal Law Firm. We've had in studio joining us our managing and founding partner of the law firm, Christopher Dryden, as well as our special go uh special guest, Jessica Castro of Magnolia Ventures. And again, you can find her information down below in the description. Thank you for listening, and we will see you on the next one. Bye-bye. Thank you for listening to this episode of the Payments Experts Podcast, a podcast of Global Legal Law Firm. Visit us online today at Global Legal Law Firm dot com. Matters discussed are all opinions that do not constitute legal advice. All events or likeness to real people and events is a coincidence.