Joshua Kidd presented on behalf of the Arlington-based company he founded, Infusion Payment Technologies. The six-year-old FinTech (financial technology) Firm processes payments and offers mobile solutions. They service manufacturers, distributors, retailers, healthcare companies, and multi-location franchises both in the DFW area and nationally.
Kidd explained that one of the problems Infusion identified in the market was the friction between supply and demand. Demand including: convenience, mobility, and trusted source, and supply including: integrations, direct-to-market, and production. The result of this problem was poor customer experience, which could cause fraud, predatory practices, capital loss, and a lack of transparency.
Infusion wants to solve this problem of friction, through their supply and demand mobile app.
“(The app) allows small businesses and large businesses to enter in their information,” Kidd explained. “That information passes through our server, and our algorithm will take place. Then on the supply side, these credit card processing companies will be able to input their information in as well.”
The information is then sent back to the customer, and matching takes place over time by their learning algorithm. Thus, customers will be matched with the credit card processors, and vice versa.
Kidd explained that Infusion makes their revenue by three different ways:
- Referral Fees, ranging from $200 to $650 per referral
- Receiving 50%-70% of processing revenue
- 50%-60% of hardware sales
Watch his pitch below.