InterPayments

Mission

In the US alone, 5% of merchant revenues are lost to payments costs (that number is 11% in Europe). Transaction cost data is a one-sided market set by banks/card networks against non-collectively organized merchants. This leads to less innovation, higher payments fees, and high switching costs. Our mission is to create a global two-sided market in merchant transaction cost data. A transparent data marketplace will improve innovation and lower costs for both merchants and consumers.

To do this, we’ve built a payments data-as-a-service (DaaS) company for merchants. Our core technology real-time calculates a merchant's exact fees on every card transaction before authorization. We combine all the foundational data required to process any card payment, regardless of the payment provider. We are unique because we expose it to merchants prior to processing the payment.

This means merchants better understand their transaction costs and do something about them. With us, merchants can finally do simple things they cannot do today: negotiate better processing rates with industry data; easily switch payment providers with limited switching costs; and put payment providers in competition on every transaction.

Amazon highlighted this pain point in September 2021: "The cost of accepting card payments continues to be an obstacle to providing the best prices for customers. These costs should be going down over time with innovation and technological advancements...yet, some cards' cost of payments continue to stay high or even rise."

About US

We're a 100% remote team. We promote supreme trust in one another to achieve our mission of helping merchants. We do whatever it takes to meet deadlines, achieve goals, and obsess over customer needs. At the same time, we ruthlessly prioritize so that our precious, invaluable time is efficiently and flexibly used towards its best use. This includes meaningful work and all the things that make for a meaningful life outside of work.