How Small Business can cut Payment Costs with Open Banking | Kieron James | Genius Talk Podcast
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How Small Business can cut Payment Costs with Open Banking | Kieron James | Genius Talk Podcast
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In this episode of the Genius Talk Podcast, host Atul Raj interviews Kieron James, founder of Wonderful, a platform that revolutionizes charity donations through open banking. Kieron shares his journey from the telecom industry to creating a payment solution that ensures charities receive 100% of donations. He explains the benefits of open banking, including instant payment settlements and enhanced security. The conversation also covers misconceptions about open banking, growth strategies for Wonderful, and future aspirations for the platform.Takeaways:-Kieron James founded Wonderful to ensure charities receive full donations.-Open banking simplifies and secures payment processes.-Spotting technological opportunities is crucial for business success.-Instant payment settlements benefit both businesses and consumers.-Wonderful.org effectively introduces new payment methods to users.-Misconceptions about open banking can hinder its adoption.-Transaction volumes are increasing as more businesses adopt open banking.-Realistic market research is essential for founders.-It's important to be objective about business performance.-Founders should not hesitate to pivot or exit when necessary.