Podcast: Oh #$@!%! Key things to learn from the PAX Technology FBI raid!
Recently, Infinicept co-CEO Todd Ablowitz sat down with Jody Muehlegger, COO of mobile POS provider Handpoint, and Neil Axe, head of payments at WorkWave, a software provider for field services companies.
They came together to talk about the fallout from recent news regarding the FBI’s raid of a Florida office for point-of-sale hardware provider PAX Technology, and the events that preceded the raid. They discussed what incidents like this mean for the choices software providers make when enabling their payments solution in an integrated, interconnected environment.
You can listen to the whole conversation above. Below are a few of the key takeaways.
Understanding your ecosystem and how its parts interrelate is critical.
JM: “In this world of integrated payments where people are bringing everything into one ecosystem, do you as a software company have the control you need? Where is your data going? Is it secure? Do you control it or does somebody else? And, really importantly, if something changes unexpectedly in the landscape of services that you use, how quickly can you move, and can you do it in a way that doesn’t disrupt everything else that you’ve built?”
Prioritizing simplicity or speed to market over control is a valid approach, but you have to know ahead of time what your choices mean.
TA: “It’s essential to understand the tradeoffs between the choices. Every one of these decisions has tradeoffs and there’s not a right and wrong answer. It’s really understanding, what is the decision that I’m making? What does it mean for my business?”
Either way, consider your future plans when selecting your vendors, so you know how they will grow and scale with you.
NA: “Wherever you are today and what features and functions that you want today, very clearly, you’re going to expand. You’re going to evolve beyond that. Ask yourself, with the partner that you’re with, how easy is it to modify and expand?”
Recommended Case Study:
How WorkWave Created A Superior Customer Experience By Owning Payments. Read the full story