Patrick McKenzie


15 days ago

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One thing I like about the job is upgrading and standardizing behavior of various payment methods so businesses don’t have to be experts in the quirks of all of them. Here, we accelerated payouts of JCB transactions to match other credit card brands, from T+30 to T+4 days.

“How did you do it?” While carefully not answering that question, every time you see money movement have a timeline associated with it the reason is “Some people are allocating the difficulty of collecting and risk of non-payment between themselves.”

No single timeline or single allocative strategy is the only conceivable timeline or strategy. Our customers uniformly prefer to get money owed to them faster. We always prefer the fastest we can offer, and do some work to have these timelines get better over time.

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