Listen to this articleBelow is our recent interview with Jacob Weaver, CEO at Cathedral Payments:
Q: Could you provide our readers with a brief introduction to your company?
A: Cathedral Payments is a registered Merchant Service Provider that specializes in servicing accounts in mid to high-risk categories like eCommerce, CBD, and MLM. Our goal is to disrupt the payments industry by offering lightning-fast approvals, exceptional customer service, and new technology like crypto payments. The company was started in 2018 and we grew quickly, our most consistent feedback being that we were real, competent people and brought a level of professionalism to the payments industry that was uncommon. We thought that was funny because we were just operating by the basic principles one would expect from a business that cares about their customers! Over the years we’ve fought to bring better transparency and communication to our clientele in an industry that is fraught with poor service and deception. Our culture is built around being “Future Minded, Tech Oriented, and Service Driven.”
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Q: Can you give us more insights into your offering?
A: At Cathedral we are focused on helping our medium to high-risk merchants obtain payment services or switch to new, more cost-effective solution. While we are technically in categories defined as “high-risk” we selectively service high caliber companies with strong product offerings and good business history. Our ideal client is a merchant that has at least three – six months of operating history, promising revenue growth, low chargebacks, and an incredible product or service. Believe it or not, even companies that fit that description are constantly getting accounts closed or turned off for vague or unknown reasons, maybe because an acquiring bank decides to change their risk tolerance or stop offering services to a certain category. In any of these cases, Cathedral is often able to sign the merchant up quickly, get them processing again, and saving money in the process.
One of the things we’re most excited about is our focus on emerging technologies like crypto processing. Cathedral partners with a software provider that allows our merchants to compliantly integrate crypto processing into their checkout sequences. Our service allows next-day settlement in fiat with payments available in Bitcoin, Ethereum, and USDT. We see crypto payments becoming much more prevalent in consumer purchasing decisions over the next few years and will be on the front lines as solutions are brought to the industry.
Q: What can we expect from your company in next 6 months? What are your plans?
A: Cathedral has an aggressive growth plan that sees our processing volume grow 5x over the next six months. We are focusing on adding agents and affiliates to our partner network (companies that refer merchants for a commission split) and growing through marketing and content creation. One thing we are really excited about is the addition of a proprietary tool that offers side-by-side analysis of processing statements. We use an algorithm that scrapes payment and fee data from our clients’ statements and checks them against other available competitive rates and offers looking for opportunities like interchange optimization. By adding this service to our application process, we believe that we will be able to save our clients even more money on every transaction.
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Q: What is the best thing about your company that people might not know about?
A: Cathedral hires based on a few core values. We put integrity and character first, but competency and communication are a close second, and all our support staff, sales executives, and directors possess these characteristics. We are intelligent and knowledgeable but kind and this allows us to educate our clients while giving them an experience that grafts them into the Cathedral family for life. As a merchant, getting paid is one of the most important functions of your business. You want to “set it and forget it”, but any experienced merchant knows that payments, especially in a growing business, come with complications. Having a partner that can respond quickly and get you the information and support you need to keep collecting is invaluable and our clients know that with Cathedral they don’t just have a service provider, they have a partner.
