Jimmy Fong 🌾🌎👩‍🌾

The most common untapped potential we see in CS & AM Teams @ B2B Software companies Mid-Market+... is how to maximise the value of long-tail customers / unmanaged tiers. With a bit of extra love these customers can frequently add several NRR% points to a company's growth - because they are: 🎯 resilient due to diverse range of vertical, geo's and business models 🎯 rarely using the full range of available products 🎯 not maximising the value of the ones they already use 🎯 likely to never have had a business discussion with an AM or CS Rep 🎯 the MOST likely to be churning due to entirely preventable reasons 🎯 the MOST likely to have been poorly onboarded and activated But there are a combination of factors that actually make it tricky for Mid Market and Enterprise Companies to cater for these lower segments (efficiently): 🔺 It's tricky to deliver dynamic, cross-system insight on each account 🔺 the CS & AM Team rarely have the capacity to address every one 🔺 or the account isn't spending enough to warrant attention (ouch!) 🔺 It can be hard to predict the impact LT initiatives will realise 🔺 responsibility lies across both product and the CS/AM team When I was at Nexmo (now Vonage) in the early days, accounts like Airbnb and (Line) LY Corporation were in these cohorts and graduated to spend millions of dollars EACH month on our APIs. 😱 And today, we talk to other market leaders (Public, Series C+ Orgs) and not one we've spoken to is truly nailing this... In the age of efficient growth, it's vital companies rectify this and get closer to these customers. With Median NRR in Public Saas at 108% the potential is meaningful. ❗ While Saas category saturation means its highly likely that one of your competitors is currently cherry-picking your high-potential long-tail customers and is actively helping them move off your product...

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So your merchant has implemented new fraud tools but chargebacks are still rising… Now what? It's a tough place to be in but here's the deal: First off, the new tools might be catching the low-hanging fruit, but sophisticated fraudsters are adapting. Looking at decline rates, acceptance rates, and analyzing chargebacks is essential to figuring out what’s going on. But here's something often overlooked even though it’s very basic: Friendly fraud. It's not just external threats. Your own customers might be gaming the system, especially in tough economic times. These types of customers are typically not flagged by a fraud solution, because after all, they are real customers using their own card to purchase. With friendly fraud, there’s a whole lot of other things that come into play such as communication, delivery times, clear expectations, etc… You’ll need to look at the whole customer journey. Sometimes, the chargeback problem isn't where you think it is.

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Has the killer app for Open Banking just got one step closer? The Payment Systems Regulator has just announced plans to expand Variable Recurring Payments (VRPs). VRP's have long been touted as the successor to the UK's incredibly successful Direct Debit payments, however their rollout has been met with a number of challenges. We're not there yet but this statement from the PSR is very encouraging. 1️⃣ Beyond Sweeping: We've moving from "me-to-me" payments to using VRP for recurring payments for utilities, government services, and subscriptions. 2️⃣ Widening Participation: The mandation of participation for the 9 largest banks and building societies in the intiial rolloutof Open Banking was crucial to getting the ball rolling. Many non-mandated FIs quickly followed suit but the PSR is supportive of widening the mandate to ensure broad adoption. 3️⃣ Pricing Models Under Scrutiny: The debate on API access pricing continues. Will we see a centralised approach, or will the market decide? 4️⃣ Liability and Consumer Protection: The industry is still grappling with these issues. The PSR's approach here could make or break VRP adoption. The real-time nature of OB VRP's will open new fraud vectors for scammers to exploit. 5️⃣ User Experience is Key: Remember, over 65% of users abandon complex checkouts and this has been a barrier to adoption of existing OB payments. VRPs promise simplicity - but can they deliver? As the payments landscape evolves, staying ahead of these changes and their implications is crucial for managing risks and seizing opportunities. https://lnkd.in/eDkbpjx9

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Great to see real progress with the DMCC. As the UK Government kicked off a consultation period this week to determine how turnover should be calculated (and therefore relative size of fines), momentum is gathering in the fight to protect consumers against deceptive practices and fake reviews! #DMCC #fakereviews

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Will Didi Challenge Uber’s Dominance of The UK Taxi Apps Market? According to a report in The Telegraph Didi, Uber’s Chinese rival, is laying the groundwork to enter the UK market. (It cancelled an earlier launch in 2021 due to security investigations by the UK and Chinese governments).  Didi is said to have acquired operating licences in Rotherham, Rochdale, Salford and planning permission for offices in Rochdale and Bolton. Didi Mobility UK Ltd, which is led by #MattRatcliffe a former executive at black taxi app Gett and Addison Lee, has recently tidied its financial filings and accounts. However, Uber UK has some formidable competitive advantages. It has a presence in about 200 towns and cities. A large customer base and pool of drivers. It reported £3.4 billion revenue and modest profits for 2022. Uber dominates the UK taxi apps market. If Didi is to challenge Uber, it will need to target Uber’s weaker locations, recruit enough drivers, differentiate its offering from Uber’s, and have a large financial reserve. Didi Group is present in Latin America, Australia, New Zealand and Egypt. Now there are signals that it is preparing to enter the UK market. Or is Didi distracting Uber from its real intentions which lie elsewhere? #TaxiApps #Uber #Didi #Bolt 

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100 billion+ messages are sent on WhatsApp daily.... 👀 Yet most businesses aren’t using it to connect with their community or customers? IMO, WhatsApp will be the top engagement and acquisition channel for businesses within the next few months. We're currently testing a Top Lender community at HURR to get real-time feedback (the good, bad and ugly) and I’m very excited about how this feedback can drive a competitive edge for community-driven businesses. Think about it, your life happens on Whatsapp. It’s inclusive, it’s free, and literally anyone can use it—and already does... Are you using WhatsApp for your business? Any top-tips? Let me know in the comments! 👇

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HOW DID WE WIN AGAIN 🤷🏼‍♂️ At Modern World Business Solutions we have a clear strategy planned out - and it seems to be working 🤩 Phase 1 - build an agnostic boarding platform for resellers of merchant services to have choice and autonomy on who they place business with and when, ensuring the best interests of merchants in 🇬🇧 - Innovation of the year 2023 - 🏆 Phase 2 - Build our own comparison website that links all of the Acquirer banks we work with via middleware and our own APIs into said boarding platform so that merchants that want to shop and select their next merchant services contract can do so on line with all details required and apply direct with their own account updates. Innovation of the year 2024 - 🏆 The Payments Market delivers NON aggregated leads, straight into Modern World Business Solutions for us to place with our partners. It’s a journey we had planned from day one of creating the MWB platform and it’s brilliant to see it working and being recognised for the complex innovation that it Is. With Phase 3 being the 🧞‍♂️- and being able to place detailed messaging infront of merchants using transactional data, here’s the Vision…. 🔮 A merchant is coming to the end of their contract with one of our acquirers, - they will be delivered a series of questions on their satisfaction and then presented with 3/4 options suiting their payment transactional patterns via The Payments Market all ON DEVICE. They can then renew or apply for a new deal all on device using our Genie product. Innovation of the year 2025 - 🤷🏼‍♂️ We are now looking forward to the The Card & Payments Awards where The Payments market is shortlisted for another innovation award. I also notice that Compare the Market are a sponsor, so maybe we can get some tips! 👀 If you have any questions on The Payments Market, or would like to leverage it for your business, then drop me a message 📥 and I’d be happy to chat.

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Want a demo of Deal Lite? Happy to give a personal demo https://lnkd.in/erspFMm9 At Deal Lite, we capture data on funding rounds. We focus on UK technology businesses only. Here’s a snapshot of what we have captured over Monday and Tuesday of this week. Our data includes: - 4,346 venture-backed UK tech companies. - 3,920 venture capitalists who have funded them. - 1,859 business angels who have funded them. - 6,512 funding rounds We focus on giving you timely information so you can do something about it. In most cases, our customers use us as a lead generation service. We are not attempting to replace expensive databases you already subscribe to, e.g. Pitchbooks. We sit alongside them, offering you bite-sized leads and information you can act on today. Accordingly, we have priced both Deal Lite News and Deal Lite Web App to be affordable to everyone. Book demo: https://lnkd.in/erspFMm9 Deal Lite website: https://deallite.uk Deal Lite weekly deal news: https://lnkd.in/efmz5xBP #UKtech #UKTechInvestments #TechInvestments #Investments

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Partner Managers need to be proactive, as well as reactive.. Don't wait for ISVs to come to you via direct merchant requests, go to them first.👇 👉 Is buying your way into ISV platform partnerships off the back of a merchant introduction the right way for payments businesses to go? 👉 Build for everyone, not for the 'one'. Is this always the best way to go, or are there exceptions? 👉 Partner Managers need to find their equivalent subject matter experts in direct sales teams and forge lasting relationships that enable them to win collectively in target sector verticals. 👉 Get rid of the 'Us and Them' partnerships versus direct sales mindset.

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The evolution of digital payments, account management and invoicing is far from over, fuelled by a relentless march towards broader digital transformation. Whether your operations span a quiet community store corner or a bustling eCommerce platform, navigating these digital currents has become an indubitable part of any business agenda. In spite of significant strides in technology, myriad roadblocks continue to plague entrepreneurs, from nuanced account keeping to maintaining satisfied supply chains. Fret not, for the winding labyrinth of these challenges is starting to show light at the end, courtesy of AI Quantum Intelligence and its integration within QuickBooks. ☑️ The Predictive Vision: Here, I foresee an impending revolution powered by AI Quantum Intelligence which can tackle the persisting gaps in our digital finance ecosystem. Its potential lies in transforming cumbersome processes, instituting workflow efficiencies, and promoting overall financial clarity in businesses of all sizes. ☑️ General Commentary: 💡 Fundamentally, AI technology is set to simplify our balance sheets while maximizing streamlined operations. AI Quantum Intelligence's optimal intertwining with reputable platforms like QuickBooks promises a new age of invoicing, where businesses and vendors coexist with financial synchronicity and transparency. 💡 The notion of digitization has long ceased to mean merely 'going paperless'. It's about seamless integration of advanced technologies that foster efficiency, accuracy, and reliability in the management of accounts. 💡 Addressing account management woes with the right blend of technological tools and smart practices will yield a business environment where cumbersome financial processes are a remnant of the past. As we embrace this era of digitization in the financial world, I look forward to witnessing how AI Quantum Intelligence will further reshape the landscape of online finances, and how QuickBooks will set the stage for other platforms to follow suit. AI's entry into finance marks a notable leap towards thwarting the everyday challenges in account management. Together, we will build the momentum to step into a future not just of possibility, but of promise. For anyone deep in the trenches of assuring financial compliance, monitoring accounts, or spinning the financial gears of the business world, let's embrace the next-gen technology of AI Quantum Intelligence with an open mind. What we have here isn't just a game changer, it's a new game altogether. #AIQuantumIntelligence #Invoicing #DigitalTransformation #AccountManagement+#QuickBooks

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Ah, the million-dollar question, or should I say, the multi-million-dollar #bureaucracy question? Let’s not forget, every “fraud team” comes with a fraud budget. The fraudsters made off with $75 million, but how much did we spend to catch them over a $1 billion? It’s like paying $100 for a locksmith to recover the $10 you dropped down a drain. Here's the real kicker—how much of that $75 million actually gets recovered, versus how much will get quietly written off because, let’s face it, #government accountability is more fiction than fact? & while we’re on it, how much did it cost to not stop this fraud in the first place? You know, since the system has to be #mismanaged to the point where cleaners could stroll in & help themselves like it’s a charity buffet. But wait, it gets better. What are the chances that a chunk of the “recovered” money will get funneled back into yet another round of consultants, policy wonks, & red tape? All under the guise of “tightening controls,” while the actual VICTIMS —the disabled people who are supposed to benefit from NDIS—are left watching this farce like it’s a twisted soap opera. So, was it really worth it? Or are we just rearranging deck chairs on the Titanic, pretending we’re saving the ship while everyone knows it’s the iceberg of #inefficiency that’s sinking us? Bill Shorten’s fraud squad swooping in like Batman with a budget, saving the day by stopping $75 million from flowing into the hands of #NDIS rorters. Still, the best part is the framing: outsmarting the rorters. Ah yes, because we all know fraudsters are #criminal masterminds worthy of a Hollywood thriller, not just opportunistic chancers figuring out loopholes. Thank God we’ve got a "fraud team" on the case, because that’s totally how government departments work. Right? Right? But here’s a question for you: if it takes this long to start catching people ripping off the system, who’s really at fault? The fraudsters? Or maybe a system so bloated & mismanaged, it’s practically inviting them to dinner? I wonder what the lifestyle costs are to fix that... Marie J. Mark Sweeney Byron Stol Peter Gregory Bob Buckley Shirley Humphris Veronica Stephan-Miller Jane Scott ♿ Samantha Connor Tara Hannon Skye Hayes Cat Walker Karen Kline Uli Cartwright Erin McGrath Dr.Heena Sinha (MAICD) Dr George Taleporos (GAICD, PhD) Jordon Steele-John Katy Gagliardi Amanda Challen👩‍🦼 https://lnkd.in/gFakFbec

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Ah, the million-dollar question, or should I say, the multi-million-dollar #bureaucracy question? Let’s not forget, every “fraud team” comes with a fraud budget. The fraudsters made off with $75 million, but how much did we spend to catch them over a $1 billion? It’s like paying $100 for a locksmith to recover the $10 you dropped down a drain. Here's the real kicker—how much of that $75 million actually gets recovered, versus how much will get quietly written off because, let’s face it, #government accountability is more fiction than fact? & while we’re on it, how much did it cost to not stop this fraud in the first place? You know, since the system has to be #mismanaged to the point where cleaners could stroll in & help themselves like it’s a charity buffet. But wait, it gets better. What are the chances that a chunk of the “recovered” money will get funneled back into yet another round of consultants, policy wonks, & red tape? All under the guise of “tightening controls,” while the actual VICTIMS —the disabled people who are supposed to benefit from NDIS—are left watching this farce like it’s a twisted soap opera. So, was it really worth it? Or are we just rearranging deck chairs on the Titanic, pretending we’re saving the ship while everyone knows it’s the iceberg of #inefficiency that’s sinking us? Bill Shorten’s fraud squad swooping in like Batman with a budget, saving the day by stopping $75 million from flowing into the hands of #NDIS rorters. Still, the best part is the framing: outsmarting the rorters. Ah yes, because we all know fraudsters are #criminal masterminds worthy of a Hollywood thriller, not just opportunistic chancers figuring out loopholes. Thank God we’ve got a "fraud team" on the case, because that’s totally how government departments work. Right? Right? But here’s a question for you: if it takes this long to start catching people ripping off the system, who’s really at fault? The fraudsters? Or maybe a system so bloated & mismanaged, it’s practically inviting them to dinner? I wonder what the lifestyle costs are to fix that... Marie J. Mark Sweeney Byron Stol Peter Gregory Bob Buckley Shirley Humphris Veronica Stephan-Miller Jane Scott ♿ Samantha Connor Tara Hannon Skye Hayes Cat Walker Karen Kline Uli Cartwright Erin McGrath Dr.Heena Sinha (MAICD) Dr George Taleporos (GAICD, PhD) Jordon Steele-John Katy Gagliardi Amanda Challen👩‍🦼 https://lnkd.in/gFakFbec

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Payment gateways offering superficial integrations to hundreds of acquiring and alternative payment methods (APMs) are solving the same problem, many times. This means they can offer a wide range of options to many businesses rather than deeper integrations across an individual business's payments entry points. At Felloh | B Corp™, we find that accessing more data from fewer acquirers is unlocking huge value for our customers, while still giving the benefits of multi-acquirer processing.

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UK Finance is calling on tech companies to do more to help stop online purchase scams. 💰 📈 The primary drivers are big events such as Olympics, Euro 2024, Glastonbury or Taylor Swift which see tremendous demand and sell instantaneously. 🤦‍♂️ Fans are desperate to snap a ticket and give the extra mile to find one. This brings them to fraudulent marketplaces and individuals selling one ticket to multiple persons. 📍Result? … more than 156,000 cases of fraud with £86m lost — a new record high! 📍Solution I trust face biometrics to be the right tech to solve the pertinent issues. Linking your face to the ticket at purchase guarantees you: ✅ Valid ticket You are buying a ticket from an official vendor as we do not engage with unauthorized resellers or scammers. ✅ Unique ticket Always having the ticket with you. There is no chance you lose it or someone steals it from you. ✅ Venue entry The ticket belongs to you and you only. There is no chance someone will enter with the same ticket you hold. 📍If promoters, sports clubs, and primary ticketing vendors integrate biometrics in their flow, they will be able to eliminate ticket fraud and have full control over both primary and secondary ticket sales. Do you see any other tech that can help solve the problem while not compromising on fan experience? I don’t. Prove me wrong and I will be happy to learn from you. #Facebiometrics #FaceTicket #Ticketing #Ticketscam

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Pretty proud of this one personally! Buying SaaS or a service shouldn't be risky. There should be a clear cut business case and path to ROI. In the short time we've been operational, we've figured out a repeatable way to ensure we can save our customers what we cost - making us effectively a risk-free investment. We've decided to commit to a money-back guarantee moving forward. Long story short, if we can't save you what we cost, we'll refund you.

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Big news from WhatsApp! The team at Meta is testing Webview within WhatsApp. That means customers will never have to leave the platform to complete full transactions, moving far beyond engagement. Combined with WhatsApp led banking, payments and now even bookings across any business. Is WhatsApp going to the silent super-app we didn’t know we need? And might websites stop being a necessity for businesses starting off? Heard at AiSensy’s event Evolve. My bonus prediction - BrandGPTs as WhatsApp contacts who can completely replace other forms of consumer initiated brand interactions. Ekta Agarwal Gautam Rajesh Shelley ⚡️ #Whatsapp #DigitalCommerce #Payments #ChatCommerce

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And that’s a wrap on day one! 1️⃣✅ If you’re about for day 2 of #eCommerceexpo and want to find out how Mollie can remove all of the ‘faff’ around payments for your merchants, come and say hi! 👋🏻 #effortlesspayments #partnerships #businesscapital #moneymanagement

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E-commerce… A buyer or sellers world? Today here at Recurring.Life we had a chargeback, our first as a retailer but not the first I’ve had to deal with over the years, so it’s provocked some thoughts… Let me paint the picture. Customer orders a single walled water bottle, from the UK to be shippped to Mexico. We shipped it - we are international baby! Customer received the item, with no contact leaves us a 3 Star review. Great service, however doesn’t keep my water cold (shortened a bit) We replied to the review, explaining that the item is singled walled and not designed to manage the temperatures, but if they wanted one that did to check out our other listings for insulated bottles We hear nothing… until today when we receive a chargeback notification that the original purchase amount will be removed from our account, plus the £10 fee for the privilege. We now have to submit an appeal to attempted to get the money back… That’s not even a Win / Lose scenario, it’s a massive Lose / Lose for us 🥲 Don’t get me wrong, I am all for buyer protection but I think the process needs to be shaken up. What’s your thoughts and experiences? #smallbusiness #chargebacks #returns #eccomerce

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My Comment on the FT website: The good news is that fintech innovation is going to assist the process: House builders build to traditional market conditions. Let's innovate to provide less complicated ways to a) Provide the capital to accelerate house building from non traditional sources. b) Introduce new pathways to home ownership that are less complicated that shared ownership or staircasing models or horrible schemes such as that provided by intervention such as Help to Buy or even worse: expensive deposit support solutions. c) Provide renters with a way to keep pace with the house prices as they try to save for a deposit. d) Reform planning (which is actually the number 1 priority to ensure the cost of building is actually viable; as fact lost on those who constantly moan about developers making profits and e) STOP the constant answer (by the least knowledgable in sector) of "we need to build more social housing" for as important as that is for the least fortunate in society, it also condemns residents to a life of rent, no effective asset wealth creation and therefore sets the fuse going on the future and ever growing burden of care in later life. The good news is this: There are people out there right now working on this as Air BnB and the Booking dot coms of the world did to transform the travel and tourism sector. Simplicity is key. ROE also. But what is happening, as Black Rock's Larry Fink is well quoted as noting, is the coming of W3 and the tokenisation of real world assets. This will revolutionise the residential real estate sector; introducing efficiency, liquidity and new forms of mobility into the complex housing sector that is currently a beautiful example of the opposite and one there to be significantly disrupted. https://on.ft.com/3wde9Dj

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