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Deluxe’s President and CEO Barry McCarthy recently joined the “Inside the Ice House” podcast and talked with host Josh King about a variety of topics. They discussed Barry’s career and how he came to join the Deluxe team, Deluxe Exchange, Small Business Revolution, how Deluxe has transformed over the years and how it will continue to evolve to meet the needs of its consumers. Here are just a few highlights from their interesting conversation:

On what we learned from Deluxe Exchange ‘21

“It’s all about what comes next and how do we recover from COVID. I think small businesses and companies that sell to small businesses are very curious about what the new business reopening and restart periods are going to look like and how those business models might change.”

On contactless/fully digital transactions

“It really doesn’t matter what you want something to be. The only thing that matters is what does the consumer or the buyer wants. And in this case, what the consumers and buyers want is the ability to do low friction or frictionless commerce. And to do it in a way that’s safe - and safe in every sense of the word. Safe in that they’re not going to be harmed financially, but also in the case of contactless, that they’re limiting their personal exposure. They’re not having to touch anything and potentially expose themselves to COVID. Had we collectively been listening more carefully to consumers, we probably would have gotten to this place sooner. But COVID was the great accelerant for us to listen to what consumers were demanding and actually deliver for them.“

On Small Business Revolution

“We’re able to tell compelling stories about small business success. It’s not just about helping those 8 small businesses that we’re able to help each season, but we’re able to broadcast those (stories). They’re video case studies that we know millions of other small business owners watch every year. It’s the number one unscripted lifestyle program on Hulu and Amazon Prime which means millions of people are watching it. That means we’re able to tell that story and share those lessons in a way (to a crowd) that we couldn’t possibly reach in any other way.“

On why checks are still vital in the payments industry

“The significant majority of business-to-business payments are still done with checks. The consumer need to pay a business with a check still exists because it is the only universally accepted payment mechanism besides cash. There are still billions of checks being written every single year. To give you a sense of scale, we ship 150,000 packages of checks every single day. It’s still an important part of the economy because there just aren’t viable substitutes. The single largest source of new check customers for us during the COVID crisis were new businesses that were starting -- they know they have to have checks.”

Listen to the full conversation from the “Inside the Ice House” podcast here:


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