Interview

In a financial world defined by rapid change and digital disruption, few leaders bring clarity and consistency quite like Jed Morley, CEO of Platinum Payment Systems (PlatPay). With a deep understanding of payment infrastructure, regulatory shifts, and emerging technologies, Morley has become a go-to authority for businesses navigating the complexities of modern commerce. His leadership is rooted not just in innovation, but in real-world resilience—from his early days working in the Alaskan wilderness to building a fintech platform trusted by high-growth and high-risk businesses alike.

In this exclusive interview, Morley dispels the most common myths surrounding payment processing and delivers actionable strategies for CEOs and founders. From embracing mobile-first commerce and artificial intelligence to preparing for compliance challenges and high-volume growth, his insights provide a playbook for building a payment system that can scale with confidence.

Q: What are some common myths about payment processing that business leaders should be cautious of?

One of the most widespread myths is the belief that all payment processors are essentially the same. That’s simply not the case. Payment processors differ significantly in the types of services they offer, their fee structures, and the security protocols they implement. It’s critical for businesses to carefully evaluate and compare providers to find the one that aligns with their specific requirements.

Another misconception is that the lowest processing fee automatically represents the best value. In reality, it’s important to look beyond the fee itself and consider what’s included. Does the processor offer around-the-clock support? Is there strong fraud prevention in place? Can it integrate smoothly with your current systems? If these features are lacking, any upfront savings could be quickly outweighed by future complications and added expenses.

There’s also a mistaken belief that switching payment processors is a complicated and overwhelming task. While it does involve some preparation, many providers—PlatPay included—have made it a priority to streamline the transition. We support our clients through the entire process to ensure it’s as efficient and stress-free as possible.

Q: What should growing businesses prioritize to prevent payment processing issues from disrupting their momentum, especially during high-volume periods or sudden spikes in demand?

When a business grows quickly, the excitement can distract from the operational risks, especially in payment processing. I’ve seen companies struggle during major sales events due to lack of preparation. Their systems were overwhelmed, causing failed transactions, frustrated customers, and financial losses.

Planning ahead is critical. If you expect a surge from a product launch, seasonal demand, or a campaign, contact your payment provider early. Share your volume projections and confirm they can handle the increase.

Relying on just one processor is risky. It may seem efficient, but it creates a single point of failure. If that provider has issues, your ability to accept payments is compromised. Multiple processors add protection and allow flexibility to meet customer preferences.

Customer service is also key. More sales mean more questions, disputes, and potential errors. If your team isn’t ready, chargebacks can rise, damaging your standing with processors and possibly leading to frozen accounts.

Security must remain a priority. As volume grows, so does your risk of fraud. Follow PCI DSS standards and use real-time fraud detection tools to protect your business and customers.

Lastly, stay on top of compliance. Expanding into new markets often brings new regulations. Understanding and meeting these in advance helps avoid disruptions. In short, payment processing should be treated as a core part of your business infrastructure.

“Over the next several years, AI will become essential for real-time analytics, reducing false declines, and enhancing risk evaluation.”

Q: In what ways is artificial intelligence changing payment processing, and how can CEOs best prepare for these advancements?

Artificial intelligence is reshaping payment processing by making systems faster, smarter, and more secure. It improves fraud detection through automation, accelerates transactions, and enables more personalized customer experiences. Over the next several years, AI will become essential for real-time analytics, reducing false declines, and enhancing risk evaluation.

For CEOs, preparation starts with adopting AI-powered payment technologies and ensuring their systems are built to scale. Flexibility in infrastructure is just as important as innovation. Investing in AI-driven security and compliance tools is also crucial for keeping up with evolving fraud tactics.

Q: How are advancements in mobile and digital payment technologies influencing the way consumers shop and engage with brands?

We’re seeing a clear shift away from traditional card-based payments toward mobile wallets like Apple Pay, Google Pay, and digital banking apps. This trend is accelerating globally, especially among younger generations and in developing markets.

Businesses that do not support fast, user-friendly mobile payment options risk losing customers to competitors who do. It is critical for CEOs to prioritize the integration of contactless payments and ensure their platforms are fully optimized for both e-commerce and mobile commerce.

Features like mobile-based rewards, direct brand communication, and creating communities through wallet platforms will become essential tools for engaging and retaining customers in the future.

Q: As businesses scale and face increasingly complex payment needs, how does Playpay position itself as a long-term partner in navigating these challenges?

At PlatPay, we provide end-to-end support for businesses navigating complex payment processing challenges. One area where we add strong value is chargeback management, offering detailed reporting, real-time alerts, and guidance throughout the resolution process to help clients contest disputes effectively. But prevention is even more important, which is why we use machine learning tools to flag suspicious transactions before they’re completed. This proactive approach reduces disputes and helps businesses run smoothly.

Our infrastructure is designed to scale without sacrificing speed or reliability, and we pride ourselves on offering tailored solutions instead of one-size-fits-all models. We also stay current with regulatory changes and help our clients stay compliant. Ultimately, our goal is to be more than just a processor—we aim to be a strategic partner, allowing businesses to simplify payments and focus on what they do best.