Years ago, my brother approached me and asked for a loan to start a merchant services business. I had some savings and eventually offered him the loan. Through this, I had the opportunity to become his receptionist. However, it was not the best fit due to my dyslexia. He then suggested that I learn how to sell. I took it upon myself to learn the ins and outs of sales techniques. I attended school, took sales and business classes, and continuously improved my communication skills. Ultimately, I am grateful that my brother introduced me to my career.
Over the course of a couple of years, I decided to branch out on my own, which led to new partners. We brainstormed names for a merchant service company. We wanted something that would stand out in the Yellow Pages at the time. So, we chose “A” to be at the top of the list. We also wanted to reflect our American roots, as American Verification Processing Solutions came to fruition. This decision was crucial to me.
Initial Challenges in the Payment Industry
In 1986, before the advancement of technology, knuckle-busters were a mainstream approach to payment processing. This was our reality. One of the biggest challenges was when the industry’s revolutionary shift from paper to electronic payments took place. People felt hesitant to embrace the evolving technology and the uncertainty that came along with it.
The introduction of electronic draft capture machines would shift everything from a digital perspective. People were already comfortable using imprinters and directly walking merchant slips to the bank. Along the way, I helped their understanding grow by explaining the changes and advantages that digital payments offered. Especially when it came to hard-to-place industries, such as travel, credit repair, and collection agencies. This is where AVP Solutions has thrived.
You may be wondering, “Why was this shift so innovative?” Well, individuals no longer had to wait 30 days to get paid. Instead of walking over to the bank, they could make immediate transactions electronically. This was groundbreaking. Overcoming fear and getting people more comfortable with electronic draft capture machines was a major hurdle, but it was worth it. This is the era where finance and technology merged into fintech as we know it today.
This can be overwhelming, especially for people who were used to a system that was already proven to work. That is where AVP Solutions comes in. We strive to stay informed about the constant developments in regulations within the merchant service space so that our clients don’t have to. Our services have a long-standing tenure and keep our clients compliant and competitive in the market.
Working in Fintech as a Woman
If you are a woman, entrepreneur, or changemaker, you can relate to this. While in a male-dominated space, I wanted to make a difference. The majority of the heavy lifting I did on my own, and the obstacles I had to overcome were not simple.
The most rewarding part of my work has been mentoring and training people to build confidence in their abilities, specifically in finance. I am truly passionate about helping others from all walks of life, especially those who come from tough backgrounds.
AVP Solutions has sponsored individuals who’ve needed a fresh start. It is truly incredible to see people grow after working with us. While having helped thousands of clients and companies, each experience has helped shape my approach to leadership.
AVP Solutions has become so much more to me than a merchant service provider. This is what each word represents:
- American: Providing services supported by our American values, such as trust and integrity, focusing on helping businesses thrive.
- Verification: Emphasizes our commitment to ensuring that merchants and their transactions are secure and recognized.
- Processing: Ensuring smooth, efficient, and reliable transactions for our merchants.
- Solutions: Strong focus on our dedication to offering tailored solutions for every merchant’s needs and addressing unique requirements.
Conclusion: AVP Solutions is Your Partner in Payments
I often say, “Defeat is a lesson in striving to get a victory. Nothing short of a journey.”
Although at times people may doubt you, remember you have the capability of achieving anything that you put your mind to. It doesn’t matter where you come from or how you get there, it is about continuing to show up. This is why I built AVP Solutions. If you ever need help with your business, I am always here to help.
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About the Author
Name: Tiffany Segura
Professional Title: Founder AVP Solutions
Bio: With over 35+ years of experience in payments, Tiffany Segura founded American Credit and Debit in 1997. Tiffany established AVP Solutions in 2000, managing over $40 million in monthly processing. She is a recognized expert in underwriting, risk management and has been honored twice as Businesswoman of the Year.
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