In this episode, hosts Drew McClure chat with Michael Seaman, co-founder and CEO of Swipesum. Michael shares the journey of founding Swipesum, a leading payment processing and merchant services consultancy. The conversation covers their innovative use of AI, proprietary software, and a customer-centric approach to optimize payment solutions for businesses of all sizes.

Key Takeaways

• Founding Story: Michael Seaman and his brother Steven founded Swipesum to streamline payment processing using AI and proprietary software.
• Innovative Solutions: Swipesum’s AI-powered software, Staitment, audits payment statements in seconds, reducing fees and enhancing transparency.
• Business Philosophy: Emphasis on ethical practices, offering clients the best deals, and cautious financial management.
• Building a Team: Focus on assembling a high-performing team akin to an Olympic team, where each member excels in their role.
• Customer-Centric Approach: Swipesum offers tailored solutions, from payment optimization to vendor evaluation, ensuring businesses receive the best possible service.

Notable Quotes

• "We basically are experts at accepting money." – Michael Seaman
• "We started building the first use case of AI in payments back in 2016, and it can audit a full business's reporting in minutes instead of months." – Michael Seaman
• "Instead of copying what the newest unicorn is doing, we focus on building what our customers actually need." – Michael Seaman
• "We think of our team like an Olympic team – everyone is a superstar in their own right, motivated around a common goal." – Michael Seaman