Exclusive Interview with Founder of QuadraPay

By SkillPatron Editorial | August 8, 2018

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“I started very late. I should have started early. My advice to budding entrepreneurs will be to focus on delivering value to the end user. It will eventually lead to grabbing attractive revenue and recognition in the market. Please keep in mind that when you start getting recognition money will follow you automatically.”

Brand Profile

• For those who do not know you; can you please introduce yourself? I am a Merchant Service consultant working closely with businesses across the globe. I specialize in assisting companies in finding reliable credit card processing solutions. Apart from Card processing solutions my team also helps merchants in finding stable alternative modes of payment processing that includes ACH and Echeck payment gateways.

• When was Quadrapay founded? Tell us a little bit about your background. We started in the first quarter of 2017 with a vision to establish a platform that helps businesses in finding reliable card processing options from across the globe.
• We noticed QuadraPay is much more than just a payment processing company. Can you explain how Quadrapay is different? Technically speaking Quadrapay is not a payment gateway company. We are resellers of various credit card processors and we assist these PSPs in finding genuine merchants from across the globe.
• You have noticeable activities in North America, Europe & Asia, are these marketplace segments your primary targets? Does Quadrapay intend to add value to merchants in emerging economies like Africa ?  Yes, we work closely with merchants from North America and Asia, but now we are very much focused on the African market as well. We are evaluating the market and establishing relationships with local processing companies
• What other industry segments are you looking at? Apart from credit and debit card processing we also assist merchants in reducing the chargeback to sales ratio. For this, we help merchants in signing up with reliable CDRN service providers.

My ComeUp Story

• How did your journey get into providing financial services get started? It all started when we faced challenges in getting an international payment gateway for our web development company.  We experienced a lot of difficulties as the industry was considered high risk. We were not doing anything wrong as we were only helping businesses with websites and SEO Services. It led us to search for solutions like high risk merchant accounts. As we did more research we found many processors that are comfortable in onboarding merchants from high risk industries. We established the relationship with these processors and signed up with them as a reseller partner. That is how the new business model of ours started.
• How do you view the competitive landscape for Quadrapay? How did you start believing in your own work? What made you really to want launch and to carve out a niche for Quadrapay? When we were struggling to find a payment gateway for our web development company, we used to do a lot of Google search, and we saw many websites offering that solution. But we soon realized that many of these websites were not helping.  This led to our analysis that there is a need for resellers that actually work with merchants from high risk industries. It’s an extremely competitive industry, but if an organization offers reliable services to its clients, then growth is possible. Our team consistently drops a massive amount of content on our website that helps us in generating quality organic traffic on an everyday basis. This has already helped us in attracting some good applications from global markets.
• What is the biggest lesson that you have learned since you started Quadrapay? A partnership is critical, and if the partner is unreliable, then it becomes difficult. We have burnt our hands and we have lost a lot of commissions, and this has been the biggest lesson for us. Now we only sign up as a reseller with processing companies when we realize that the processing company is genuine and pays the reseller and merchant on time.
• Breaking into the finance services industry isn’t an easy feat. What advice would you give young people looking to form their own companies? Marketing tips? I won’t be able to talk about the entire financial services industry, but I would like to share my views about merchant services reselling. There is an ample amount of space available for budding entrepreneurs. Web design companies and SEO Agencies can start their own merchant services reseller business without any additional business license. The responsibility of a reseller is to collect applications and send it to the processing companies. We follow the same process, and we recommend more and more entrepreneurs to venture into this industry. To grow as a merchant service reseller all you need is internet traffic and relationship with processors.
• Tell us about a time you were faced with insurmountable odds, yet persevered to overcome? Last year we had a problem. It was a severe problem. We used to work with EU based payment processor that was comfortable in onboarding merchants from a specific industry. We had many merchants processing with the solution provider. Unfortunately, one day the processor closed all the accounts. We lost a lot of commission, and the merchants did lose the capability of accepting credit cards online. That is why now we are always maintaining at least two-three relationship for each industry.

My Daily Behind the Scenes

• Where do you find your inspiration? I find my inspiration from motivational speakers like Les Brown, Deepak Chopra. I regularly hear the team Fearless audio track about entrepreneurship. These things together keep me motivated regarding my everyday business activities. I also try to keep a positive outlook on the daily challenges. I know that it’s not easy to be an entrepreneur, but it’s not impossible to be one.
• What is your role in the company now? And how involved are you in the day-to-day and overall operations? As the founding member of the company, I keep myself engaged at all the business functions, but our team members are qualified enough to handle their responsibilities. I am lucky to have highly efficient and reliable professionals in our team and with the help of these professionals our organization is growing and creating a name for itself in the industry.
• What is one thing you do when you’re feeling stuck creatively? I keep my job away and listen to refreshing music. Nothing motivates me more than listening to tracks of Enigma and Krishna Das.

My Now

• Is it fair to assume that you are also frequently offered to be acquired? What kind of companies approach Quadrapay? That is true we did get some offers but as of now we are still evolving our platform, and we assume that it will take least 2 to 3 years for us to create the platform that we have visualized. After that will be open to accepting funding from a venture capitalist or Angel investor.
• Well, payments is obviously an incredibly crowded battle ground with some incredible large companies. There are lots of people really fighting over payments. Given that payments is essentially a utility, it’s a business that you could imagine all the revenues from it basically being competed away, why is that so important? And why are there so many big players trying to win that particular battle? The payment processing industry always works with the help of many parties. There is the principle Bank which is also known as the Acquiring Bank. This Bank underwrite the risk of the merchant. The applications go to the bank through the payment service provider or its resellers. In reality, the payment processing industry depends upon Agents, Resellers, Local acquiring banks, Payment service providers, IPSPs and Payment facilitators. There is ample space for all the parties involved in the industry.
• Aside QuadraPay of course,who else do you think is doing good things in the fintech industry right now? I would say that Rupay and China Union Pay are doing a fantastic job in the payment processing industry. These cards are becoming extremely popular in developing economies. It’s common to find China UnionPay cards being used across the many Asian countries as well as some African nations. Same is the story with the Indian Rupay card, and it is also becoming popular in emerging economies. I would say that China Union pay and Rupay will undoubtedly grab a substantial market share from major card companies in the future.

My Future

• What would you like to achieve before the end of 2018? Before the end of 2018, we would be interested in achieving a strong footprint in the African continent by assisting local businesses to accept International payments. Apart from the African continent, we will be involved in expanding or penetration in other geographies that include the European Union and Asia.
• What’s one dream you’ve achieved that you’re most proud of and why? The dream that I have achieved and I am proud of is undoubtedly establishing this organization without the investment from any funding organization. Our consistent effort has helped us to evolve and create a name in the industry.
• If you could go back in time, what advice would you give to your teenage self? I started very late. I should have started early. My advice to budding entrepreneurs will be to focus on delivering value to the end user. It will eventually lead to grabbing attractive revenue and recognition in the market. Please keep in mind that when you start getting recognition money will follow you automatically.