Podcast
The Payments Guy®
Hosted by Frank Sena · EN
Welcome to “The Payments Guy®” — your ultimate guide to navigating the convoluted world of payments. Have you ever felt confused when reviewing your merchant account statement, understanding the role of payment gateways and processors, or dealing with customer disputes and chargebacks? You’re not alone! Each episode, we’re here to demystify the complex world of payments, bringing you top insights from industry experts and sharing real life payment horror stories that will help you make better informed decisions around accepting payments for your business.
Join in every other Thursday as we tackle the toughest questions and challenges in the payments space. From learning how to minimize the impact of disputes and chargebacks to exploring alternative payment solutions and ancillary services, The Payments Guy offers practical advice and solutions to help you successfully navigate the payments world. Plus, we'll feature interviews with experienced business owners and industry expert who provide valuable tips and tricks for streamlining your payments processes.
Whether you're looking to grow your business, avoid getting ripped off by your merchant services provider, or just want to understand the payments ecosystem better, “The Payments Guy®” is your go-to resource.
Say goodbye to funding holds and pushy service providers —tune in and let us show you the money!
21episodes
Episodes
Newest firstAll episodes
High-Risk Merchant Accounts: Avoid Holds & Terminations in 2025
Mar 21, 202500:16:12Tap to summarizeIn this episode, Frank covers how high-risk merchants can avoid account freezes, terminations, and funding holds. He explains what triggers risk teams—like chargebacks, sudden volume spikes, or unapproved business changes—and shares how to stay in good standing with your processor through proactive communication, proper documentation, and smart redundancy with multiple merchant accounts.In this episode, these questions and topics will be covered:• 01:30 – Why do banks and ISOs have risk teams, and what role do they play in merchant processing?• 06:11– Common red flags that can get your account frozen: chargebacks, disputes, transaction spikes, and changes in your business model.• 09:36 – What happens when your funds are held, and how to respond effectively.• 10:48 – The importance of monitoring chargebacks.• 11:32 - Why you should always have more than one payment processor to protect your business.Navigating merchant payments doesn’t have to be a mystery. By understanding how risk teams operate and proactively managing your transactions, you can avoid unnecessary disruptions to your business. If you found this episode helpful, don’t forget to subscribe and share it with a fellow business owner!Have a question about something in the episode? Send your questions to Info@PayDiverse.com and check out our FAQ page https://paydiverse.com/faq Connect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
Transcribe →Episode 9: PCI Compliance Explained: Why It Matters and How to Get It Right
Feb 28, 202500:14:25Tap to summarizeDid you know that failing to achieve PCI compliance can not only lead to costly fines but also erode customer trust? In this episode, we break down PCI compliance in simple, empowering terms. Discover what PCI compliance is, why it matters, and how you can protect your business from unnecessary fees, data breaches, and reputational damage.In this episode, these questions and topics will be covered:• 00:46 - Understanding PCI compliance and its critical role in safeguarding your business.• 02:15 - The true cost of non-compliance and how monthly fees, hefty fines, and data breaches can impact your bottom line.• 04:00 - A step-by-step guide to evaluating your security measures and meeting PCI standards.• 06:00 - Implementing secure payment processors, encryption, strong passwords, and two-factor authentication.• 08:30 - Leveraging PCI compliance vendors to simplify the process and overcome hurdles.• 10:00 - Protecting your business reputation, enhancing customer trust, and ensuring smooth payment processing.If you found this episode helpful, please leave a rating or review on your preferred listening platform and share it with other business owners! Tune into the podcast and take charge of your payment security.Connect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
Transcribe →Episode 8: Reserves Demystified: Why Banks Hold Your Money and How to Get Better Terms
Feb 7, 202500:20:03Tap to summarizeDid you know that merchant reserves can significantly impact your cash flow and payment processing experience? In this episode, we dive into the world of reserves—what they are, the different types, and why banks may require them for your merchant account. We also share effective strategies to improve your reserve terms, even if you're operating in a high-risk industry. Join us as we demystify the purpose of reserves and empower you to navigate these essential financial tools.In this episode, these questions and topics will be covered:• 01:33 - Overview of merchant reserves: types, purposes, and how they're determined.• 01:49 - What are reserves? An explanation of how banks manage risks like chargebacks and fraud.• 03:50 - Types of reserves: Rolling reserves, static reserves, and upfront reserves explained.• 06:59 - Factors influencing the type of reserve: industry, processing history, and bank risk tolerance.• 15:05 - Debunking myths about reserves: understanding that they are not punitive measures.• 18:58 - Understanding that reserves are typically not permanent and can improve over time with trust and good management.If you found this episode insightful, please leave a rating or review on your preferred listening platform and share it with other business owners! Let’s empower more merchants to navigate the complexities of merchant reserves effectively.Connect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
Transcribe →Episode 7: Merchant Account Fees Uncovered: What Your Payment Processor Doesn’t Want You to Know
Jan 24, 202500:25:39Tap to summarizeDid you know that navigating the world of merchant fees can be complex, with various charges impacting your bottom line? In this episode, we break down the key fees associated with payment processing, including the merchant discount rate, chargeback fees, and refund fees. We also discuss essential contract terms like service fees and early termination penalties. Join us as we clarify these costs and empower you to make informed decisions for your business.In this episode, these questions and topics will be covered:• 00:35 - Overview of key fees in payment processing: merchant discount rate, chargeback fees, refund fees, and essential contract terms. • 01:25 - The three different ways merchants can encounter discount fees on credit card processing statements. • 05:44 - Overview of the three pricing models in payment processing. • 11:10 - Discussion on refund fees, return fees, and reversal fees: understanding the differences and implications. • 18:53 - Retrieval fees: what they are and when they occur in the processing lifecycle. • 24:39 - Utilizing AI tools to review legal documentation and avoid surprises in bank agreements.If you found this episode insightful, please leave a rating or review on your preferred listening platform and share it with other business owners! Let’s empower more merchants to navigate the complexities of payment processing effectively.Connect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
Transcribe →Episode 6: Stripe, Square, PayPal – The Good, the Bad, and the Better Alternatives
Jan 10, 202500:09:32Tap to summarizeDid you know that Stripe, Square, and PayPal are popular payment solutions, but they might not be the best fit for every business? In this episode, we dive into the pros and cons of these household names in the finance world. Join us as we discuss whether these platforms are the ideal solution for your business, exploring their benefits and potential pitfalls. You'll learn about the nature of payment facilitators, the risks involved, and why it's essential to consider diverse payment solutions.In this episode, these questions and topics will be covered:• 1:10 - Overview of Stripe, Square, and PayPal as popular payment facilitators and what makes them well-known in the finance world. • 2:29 - The advantages of using payment facilitators: quick onboarding and convenience for merchants. • 2:57 - The risks involved: account freezes or terminations with little to no warning due to flagged risks.• 3:55 - 7:20 - The risks of payment facilitators: lack of deep underwriting leading to future problems, aggregated transactions creating shared risk, and warning signs your account may be in trouble. • 7:37 - The importance of diversifying your payment solutions to avoid disruptions and not relying on a single processor. • 8:35 - How working with a payment consultant can help find tailored, stable solutions for your business. If you found this episode insightful, please leave a rating or review on your preferred listening platform and share it with other business owners! Let’s empower more merchants to navigate the payments landscape effectively.Connect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
Transcribe →Episode 5: Inside the ISO: How Payment Consultants Help Merchants Succeed
Dec 27, 202400:49:13Tap to summarizeDid you know that working with a payment consultant can significantly enhance your ability to navigate bank relationships and maintain your payment processing capabilities? In this episode, join Jason Selby, payments consultant and founder of Runaway Payments, as he discusses how partnering with a consultant can help merchants thrive in the complex payments landscape. You'll learn about the crucial role of payment consultants, the benefits they bring to merchants, and how to effectively manage the relationship with banks to ensure uninterrupted processing.In this episode, these questions and topics will be covered:• 1:19 - Overview of Jason's background and what led him to establish his consultancy firm. • 3:27 - The benefits of working with a payment consultant instead of navigating the banking landscape alone. • 10:16 - The value of having a consultant to foresee and manage potential issues before they escalate. • 12:52 - Challenges processors face with registered merchants and the importance of established relationships. • 14:23 - Identifying red flags for banks and how startups can scale responsibly with the right guidance. • 30:55 - Real-life examples of merchants who navigated challenges successfully or failed to do so. • 34:00 - The importance of maintaining good relationships with both banks and processors. • 41:12 - Final takeaways for merchants on how to foster positive relationships with their banking partners. If you found this episode insightful, please leave a rating or review on your preferred listening platform and share it with other business owners! Let’s empower more merchants to succeed in the payments landscape.Jason’s LinksWebsite: https://runwaypayments.comEmail: jason@runwaypayments.comConnect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
Transcribe →Episode 4: Chargebacks Got You Down? How to Fight and Prevent Them
Dec 13, 202400:15:17Tap to summarizeDid you know that too many chargebacks could lead to higher processing fees or even losing your ability to accept payments? In this episode, join Frank as he dives into a challenge that just about every merchant faces at one point or another—chargebacks. You'll learn about the seriousness of chargebacks, especially for high-risk businesses, and how to implement the right strategies and tools to minimize their impact on your bottom line.In this episode, these questions and topics will be covered:• 1:15 - What exactly is a chargeback, and why does it happen? • 3:32 - The three main types of chargebacks: fraudulent, consumer disputes, and technical chargebacks. • 6:11 - Strategies to prevent chargebacks from happening: the importance of solid policies and customer service. • 11:11 - How detailed analytics and reporting can provide insights into chargeback patterns. • 13:33 - Key takeaways for implementing targeted solutions to manage chargebacks effectively.If you found this episode helpful, leave a rating or review on your preferred listening platform, and share it with another business owner! Let’s set up more business for success.Connect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
Transcribe →Episode 3: Who’s Who in Payments? A 101 Guide to the Players and Processes
Nov 29, 202400:16:45Tap to summarizeDid you know that every time a customer swipes their card, there are up to six different players working behind the scenes to ensure the payment goes through? In this episode, join Frank as he unpacks the complex world of payment processing by shedding light on who’s really behind your payments. You’ll learn about the various players involved in a transaction, what they do, and how you can leverage this knowledge to your advantage. By the end of this episode, you should have a clear understanding of the key players involved in processing payments, including acquiring banks, payment processors, ISOs, and more.In this episode these questions and topics will be covered:• 1:54 - Who are the 8 key players in payment processing? • 7:51 - Benefits of working with Retail ISOs: a wide network of payment solutions, negotiating better rates, streamlining the underwriting process, and providing ongoing merchant support. • 12:12 - The transaction flow explained in six steps: from cardholder initiation to merchant receipt of funds. • 13:41 - Fees breakdown: who takes a cut during the process and when these fees are deducted. • 15:00 - Episode in review: key players in every transaction and their responsibilities.If you found this episode helpful, leave a rating or review on your preferred listening platform, and share it with another business owner! Let’s set up more business for success.Connect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
Transcribe →Episode 1: Should You Go It Alone? The Truth About Merchant Payment Consultants
Nov 15, 202400:09:11Tap to summarizeWelcome to the first episode of “The Payments Guy”! Kicking things off with some basics, in this episode Frank will be going over the role of a payments broker, the pros and cons of working with one, and when merchants should consider using a broker. If your business is brand new or you went directly to the first processor you came across, this is a great place to start or reconsider. You’ll learn how brokers can save time and money, and if hiring a consultant is right for your business. Let’s begin!In this episode these questions and topics will be covered: • 1:36 - What is a merchant payment consultant?• 2:35 - Is hiring a consultant necessary for every business?• 2:50 - 3 Benefits and reasons to work with a consultant.• 4:33 - Does hiring a consultant increase the fees for the merchant?• 6:17 - Do only big businesses require payment consultants?If you got anything of value from this episode, be sure to share, rate and review so we can get the word out to more business owners! Time to open up the world of payments!Connect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
Transcribe →Episode 2: Cracking the Code: How to Master the Underwriting Process
Nov 15, 202400:15:22Tap to summarizeOverwhelmed by the underwriting process as a business owner looking to set up a merchant account? In this episode, join Frank as he does a deep dive into the often misunderstood topic in the world of payments, the underwriting process. He’ll cover what happens during the underwriting process, how to improve your chances of approval, and what the acquiring banks are looking for. Whether you're new to payments or an experienced merchant, this episode will help you to better understand what's happening behind the scenes when you apply for a merchant account and how to navigate it effectively.In this episode these questions and topics will be covered: • 2:06 - What is underwriting?• 2:46 - Why does underwriting matter for you as a business owner?• 3:44 - The key steps you can expect in the underwriting process.• 7:00 - The biggest misconceptions merchants have about the underwriting process itself.• 9:00 - Tips for making the underwriting process smooth and successful for you.If you found this episode helpful, leave a rating or review on your preferred listening platform, and share it with another business owner! Let’s set up more business for success. Connect with PayDiverse: Instagram: https://www.instagram.com/paydiverseWebsite: http://www.paydiverse.comLinkedIn: https://www.linkedin.com/in/franksena
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