PaymentSeal Discussion with PSP

PaymentSeal - Notes from discussions

PSP Concerns:

• User (Shopper) Experience - to find out from beta, the experience is similar to sharing an YouTube video on facebook. This is common process in many places (encrypting payment data is new, however)
  
• Idea not Polished/Tested. (nope, that's why I'm proposing to go forward with Beta Testing)

PSP likes:

• Sounds convinced that it has potential. And it's different from current solutions.
• Asked to compare with Paypal. Paypal is an old technique and it has cart abandonment issues. PaymentSeal is similar to many web2.0 login/share procedures and it just might improve cart abandonment.

As a review, I need to keep the points clearer next time. Demo the process and elaborate the details, then reel in with benefits and strategy. Emphasize that the amount of work is minimal. If the beta result is positive, the benefits and the strategy is feasible.

Emphasize that this is not "selling something to PSP", this is executing a strategy together. We have it patent pending and PSP can execute a unique strategy. We all benefit.

The strategy is as follows. PSP license PaymentSeal exclusively (bring to attention that the strategy and benefits work only if this is an exclusive feature.) If PSP balks, offer to sell "Option to License" before beta testing. This will hedge their risk quite a bit.