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In our webinar with JaBre Scott, the founder of Thrive Business Leaders, we did a deep dive into Financial Technology (FinTech). JaBre’s years of experience in payment processing and financial systems gave us valuable insights into the complex world of FinTech and how understanding it can transform our businesses.
Why FinTech Matters
We often think of payment processing as a basic business necessity, but JaBre opened our eyes to how much more it really is. Financial Technology is constantly evolving, and as business owners, we need to keep up. Whether you’re using Cash App, Zelle, PayPal, or traditional card processors, each platform comes with its own set of rules, fees, and—importantly—opportunities. The right financial tools can make or break your business, so JaBre’s advice? Don’t just pick a processor and forget about it—learn it inside out.
Fees: They’re Everywhere, So Manage Them Wisely
One of the standout lessons from today was around managing transaction fees. JaBre walked us through the often-overlooked difference between credit and debit card fees, explaining how even a small shift in strategy could save a business hundreds, if not thousands, of dollars. Many of us are using Square or PayPal because they’re convenient, but JaBre suggested we take a closer look—those flat fees are often far higher than necessary. If most of your customers pay with debit cards, you could be overpaying by as much as 300%! It's worth having a conversation about whether your fees are aligned with your actual needs.
Thinking Twice About Loans from Payment Processors
It was eye-opening to hear about the risks of taking loans from processors like PayPal and Square. JaBre explained how these companies can lock you into long-term commitments that might seem harmless but can limit your flexibility as your business grows. The key takeaway? Just because something is easy doesn’t mean it’s best for your long-term financial health. Understand the strings attached before accepting any offers.
Making Dual Pricing Work for You
One of the more actionable tips JaBre shared was the concept of dual pricing. Imagine being able to offer your customers the choice: Pay with cash and avoid fees, or pay with a card and accept a small surcharge. This allows you to maintain your profit margins without absorbing all the processing costs. It’s a subtle shift, but one that many successful businesses are already using to great effect.
Time to Be Transparent About Fees
A big theme throughout the discussion was transparency. As business owners, we’re sometimes afraid of passing transaction fees onto our customers, thinking it might drive them away. But JaBre’s point was clear—most customers are already used to paying fees in various forms. Whether it's an extra charge for using a credit card or the taxes they pay on everyday purchases, this isn’t new. It's time we get comfortable explaining the realities of our costs and building that into our pricing.
Final Thoughts
This webinar was packed with practical, money-saving advice, and a lot of it boiled down to one simple idea: be proactive. Don’t just accept the fees and services you’ve been handed. Ask questions, negotiate, and always keep an eye out for better options. Financial Technology isn’t going anywhere, and the more we understand it, the better positioned we’ll be to make smart, profitable decisions.
If researching, selecting, and negotiating payment processing options seems overwhelming, JaBre can help.
Reach Out to JaBre Scott
For those looking to dive deeper into optimizing your payment systems or exploring how FinTech can benefit your business, JaBre Scott is available to help. You can reach him via email at thrivebusinessconsultants@gmail.com for personalized guidance. He’s always open to answering questions and doesn’t charge consultation fees, making him a fantastic resource for any beauty professional.
The complete recording is available for ANHC PRO members and partners in our video library: https://www.anhcpro.org/pro-library.
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