"Payment should be free," Alex Rampell of TrialPay declares.
TrialPay is a transaction processing company that wants to make more than a two percent fee from each transaction—so they do it for free. Alex Rampell explains that the data on any transaction is worth more than 2 pct, so they are selling ad space around the receipt.
Rampell says that two-percent transaction charge will not stand—he notes that, in Australia, it has been reduced by law to 50 basis points. TrialPay's strategy is bringing marketing opportunities into the transaction, with the benefit of all the data at the transaction point: Demographics, location, purchase, and finally, user intent.
Projecting the user's motives into a story about what happens next allows TrialPay to place targeted offers with a much higher acceptance rate, offering much more value to merchants using TrialPay.
Alex Rampell is the co-founder and CEO of TrialPay, where he is responsible for general management and building corporate infrastructure. Prior to TrialPay, Alex co-founded FraudEliminator, the first consumer anti-phishing company, which merged into SiteAdvisor and was acquired by McAfee in April 2006.
Alex began his career writing and selling consumer software on bulletin board systems and the nascent Internet. His first successful company gained hundreds of thousands of paying consumers worldwide and had products featured in Forbes, The New York Times, The Wall Street Journal, USA Today, “Today,” CNBC and BusinessWeek.
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