“We guide businesses through every step of the process to ensure a smooth transition.”
Jed Morley Tweet
Jed Morley’s narrative shines as an embodiment of conquering challenges to attain resounding victory – a journey that spans from wielding an axe in the Alaskan woods to wielding influence as the CEO of Platinum Payment Systems (PlatPay). A pivotal thread in his journey involves navigating hurdles, a cornerstone that showcases his ability to confront setbacks with determination.
Yet, Morley’s influence stretches beyond business realms. His legacy finds resonance in his steadfast commitment to philanthropy. PlatGives, his charitable initiative, stands as a living testament to his dedication in supporting non-profits and spearheading positive transformations within communities.
Jed Morley’s story is a blend of hard work, adaptability, and compassion. It embodies the ethos of overcoming challenges to achieve success in the corporate world. His journey motivates us to persevere and embrace innovation while leaving a positive impact on society.
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Table of Contents

Can you explain what situations might cause a payment processor like PayPal or Stripe to freeze or close a business’s account, and how can companies safeguard against this?
Jed Morley: Payment processors, such as PayPal and Stripe, are prominent but faceless payment companies that manage financial transactions. To maintain the security and integrity of their networks, they have protocols and algorithms in place to identify and manage risk.
Since they lack knowledge about or insight into your business, they must rely on these systems, which aren’t always tailored to your business’s needs. There are several situations that might lead a payment processor to freeze or even close a business’s account, and one of these situations is the type of account associated with these payment methods.
The most common reasons include suspicious activity that might indicate fraud, a sudden increase in chargebacks or refunds, or engaging in a business activity that the payment processor deems high-risk. Occasionally, an account may also be frozen if the processor determines that there are irregularities or inconsistencies in the provided business information.
One big important KEY is to maintain clear, consistent, and open communication with your payment processor. If your business anticipates significant sales volume increase or a major shift in business model, notifying your payment processor in advance can prevent misunderstandings that might trigger suspicions about your account’s activity.
Maintaining a low chargeback ratio is also crucial. Chargebacks can be a sign of poor business practices or potential fraud, so keeping them to a minimum will help keep your account in good standing. Implement clear refund policies, provide excellent customer service, and promptly resolve any disputes to prevent chargebacks.
In terms of risk management, diversification is another pivotal strategy. As discussed earlier, having multiple payment processing solutions in place can serve as a safeguard against unforeseen issues with a primary provider.
Lastly, ensure that your business complies with all relevant financial regulations. Noncompliance can be a red flag for payment processors. This underscores the importance of working with a payment processor that not only understands these regulations but can guide and support to help your business adhere to them.
What are some misconcep- tions about payment processing that business leaders should be aware of?
Jed Morley: As the CEO of PlatPay, I’ve come across numerous misconceptions about payment processing that are important for business leaders to understand. The first and perhaps most common misconception is that all payment processors are the same.
This is far from the truth. Payment processors can vary significantly in terms of the services they offer, the fees they charge, and the security measures they have in place. It’s essential for businesses to take the time to thoroughly research and compare their options to find the payment processor that best meets their specific needs.
Secondly, many businesses are under the impression that the lowest processing fees automatically mean the best deal. However, it’s crucial to consider what’s included in these fees.
For example, does the payment processor provide 24/7 customer service, robust fraud protection, or seamless integration with your existing systems? If not, the ‘savings’ from lower fees may quickly be offset by the costs and headaches of dealing with issues that arise down the line.
Finally, there’s a misconception that transitioning to a new payment processor is a complex and daunting process.
While it does require some upfront work, many processors, like PlatPay, have made it our mission to simplify the transition process as much as possible. We guide businesses through every step of the process to ensure a smooth transition.

How important is it for a business to have multiple payment processing solutions in place as a backup, and how should they go about setting this up?
Jed Morley: Having a backup payment processing solution is a crucial consideration for businesses of all sizes. At Platpay, we have over 50 banks and processing relationships to handle every type of business, but the best part is our trusted relationship and knowledge to manage all your payment needs in ONE PLACE.
It’s all about risk management. If a business is entirely dependent on a single processor and that system experiences downtime or other issues, it can lead to significant interruptions in sales, customer dissatisfaction, and potential damage to the brand’s reputation.
Having multiple payment processing options is also essential from a customer experience perspective. Different customers have different payment preferences, and offering multiple options can help to increase sales and customer satisfaction.
The process of setting up multiple payment processors starts with identifying a secondary processor that suits your business needs. Look for a processor that complements your primary one, offering benefits or features that your primary might lack.
For instance, if your primary processor specializes in credit card payments, you might consider a secondary one that excels at handling digital wallets or ACH transactions.
Before moving ahead, it’s also important to check the compatibility of your existing systems with the new processor. Most modern payment processors, like PlatPay, are designed to integrate seamlessly with a wide range of business systems, but it’s always good to confirm.
Finally, the implementation stage would involve setting up the secondary processor’s systems, integrating it into your existing sales channels, and conduct thorough testing to ensure everything works as expected.
In summary, having multiple payment processing solutions not only offers insurance against potential disruptions but also broadens your appeal to customers with varying payment preferences, ultimately boosting your business performance.
Can you provide some insights into navigating the compliance and regulatory landscape of payment processing?
Jed Morley: Absolutely, this is a crucial area that every business needs to understand and navigate correctly. The regulatory landscape of payment processing is complex and constantly evolving, but it is crucial to ensure the safety and security of transactions and to maintain consumer trust.
PlatPay as a team has been in business for nearly 2 decades, and we’ve seen everything so knowing you are dealing with seasoned professionals who understand risk, compliance and underwriting will make a huge difference.
At the core of compliance in payment processing is the Payment Card Industry Data Security Standard (PCI DSS). This is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment.
Another key regulation to be aware of is the Know Your Customer (KYC) requirements. KYC is a process of identifying and verifying a customer’s identity and is critical in preventing fraudulent activities. Businesses need to implement robust KYC processes in their payment systems.
Navigating these regulations and requirements can be challenging, which is why it’s beneficial to work with a payment processor that understands these issues and can guide you through them. At PlatPay, for instance, we not only ensure our own compliance with all relevant regulations but also work closely with our clients to help them understand and meet their own compliance requirements.
Remember, while it may seem overwhelming, the regulatory landscape is not something to be feared but rather an integral part of doing business in today’s digital world.
It’s about protecting your business, your customers, and the integrity of the financial system as a whole.

How can businesses, whether considered high-risk or not, ensure a stable and reliable payment processing system during periods of rapid growth?
Jed Morley: Rapid growth can be exhilarating for any business, but it can also strain existing systems, including payment processing. It’s essential to ensure stability and reliability during these periods to maintain customer trust and ensure smooth operations.
Rapid growth can KILL a business too so understanding that is super important, we’ve seen this too when the expectations weren’t clear and having a massive sales weekend shut down the companies’ ability to process causing huge losses and stress on the business and owners.
Firstly, planning ahead is crucial. If your business anticipates a period of rapid growth—perhaps due to seasonal sales, a successful marketing campaign, or the launch of a new product it’s important to ensure your payment processor can handle the increased volume.
Reach out to them proactively to discuss your growth projections and ask about their capacity to handle such an increase. Secondly, consider diversifying your payment processors.
Depending solely on one processor might expose your business to risk if it encounters problems or cannot manage the heightened volume.
Having multiple processors not only adds a layer of redundancy but can also help you cater to different customer payment preferences, thereby boosting sales.
Next, focus on maintaining top-notch customer service. Rapid growth can sometimes lead to more customer inquiries or issues, and how you handle these can significantly affect your payment processing.
Prompt and effective resolution of issues can help prevent chargebacks, which, if they rise too high, can lead to frozen accounts.
You should also continue to invest in security measures. The importance of security cannot be emphasized enough, particularly during periods of rapid growth when your business may become a more appealing target for fraudsters. Confirm your adherence to industry standards such as PCI DSS, and consider additional measures such as advanced fraud detection tools.
Always keep compliance front and center. Regulations change and they are changing all the time, and as your business grows, you may find yourself dealing with new compliance requirements, particularly if your growth involves expanding into new markets.
Guarantee a comprehensive grasp of and comply with all relevant regulations to avoid potential pitfalls. In summary, ensuring a stable and reliable payment processing system during periods of rapid growth in volves a mix of proactive planning, diversification, main taining excellent customer service, prioritizing security, and staying on top of compliance.
Could you share some strategies for effectively dealing with chargebacks and minimizing their impact on a business’s finances?
Jed Morley: Chargebacks are a significant concern for any business that processes card transactions. They not only lead to a loss of revenue but can also have repercussions on the relationship with payment processors. Fortunately, there are strategies to effectively manage and minimize chargebacks.
At one point, we had Merchant LifeLine, a sister company that handled thousands of chargebacks monthly. So, we not only understand chargebacks, we’ve lived through them. Chargebacks suck, but we can help!
Firstly, ensure that your payment descriptors are clear. When customers check their bank statements, they should be able to easily identify transactions related to your business. Confusing or unclear descriptors can lead to chargebacks because customers may not recognize the transactions.
Next, maintain excellent customer service. This includes offering convenient ways for customers to contact you and resolving issues promptly.
Often, customers initiate chargebacks because they are unable to reach a merchant to discuss their concerns. A good rule of thumb is to ensure that resolving the issue with you is more convenient than resorting to their bank for disputing the charge.
Provide clear and detailed product descriptions. This will help manage customer expectations and reduce the likelihood of customers feeling that they received something different from what they purchased.
Consider requiring signature confirmation for high-value orders. This can provide additional evidence that the customer received the product, which can be valuable in the event of a chargeback dispute.

Implement robust fraud detection measures. Advanced fraud screening tools can help you identify and prevent fraudulent transactions before they are processed, thereby reducing the risk of chargebacks.
Offer a hassle-free return policy. Sometimes, a customer may prefer to initiate a chargeback because they find a merchant’s return process to be too cumbersome. By simplifying the return process, you can encourage customers to opt for this solution instead of a chargeback.
Train your staff on best practices for processing payments. Mistakes during the payment process can lead to chargebacks. Continuous training can help minimize these errors.
Finally, promptly respond to chargeback notifications. When you receive a chargeback notice, address it without delay. Provide all necessary information to dispute the chargeback if it is unwarranted.
By implementing these strategies, businesses can mitigate the financial impact of chargebacks and sustain a healthy relationship with their payment processors.
How does your company assist businesses in mitigating these payment processing challenges, and what sets you apart from other solutions?
Jed Morley: At PlatPay, we take a comprehensive approach to payment processing, aimed at supporting businesses through every challenge they may encounter. When it comes to dealing with chargebacks, we provide our clients with detailed reporting and alert systems, enabling them to react promptly to any issues.
We also guide businesses through the dispute process, offering expertise and support to give them the best chance of successfully contesting unwarranted chargebacks. We also recognize that preventing chargebacks is even better than managing them. As such, we offer advanced fraud detection and prevention tools.
These tools leverage machine learning algorithms to flag potentially fraudulent activity before transactions are processed. For businesses undergoing rapid growth, we provide a scalable solution that can easily handle increased volume.
We have invested heavily in our technological infrastructure to ensure smooth and efficient processing, regardless of volume. Understanding that every business is unique, we offer personalized service to our clients.
We work closely with each business to understand their specific needs and challenges, and tailor our services accordingly. This level of personalization is something that truly sets us apart.
Furthermore, compliance is at the forefront of what we do. Our team stays up-to-date with the latest regulatory changes and ensures that our systems remain compliant, taking the burden off our clients.
We also guide businesses through their own compliance requirements. Ultimately, what sets PlatPay apart is our dedication to our clients. We’re not just a payment processor; we’re a partner committed to helping businesses navigate the complex world of payment processing.
Our ultimate goal is to help businesses focus on what they do best running their business while we handle their payment processing needs.
Can you share examples of businesses you’ve helped to streamline their payment processing, and what were the key elements of success?
Jed Morley: We have had the privilege of working with a variety of businesses, each with unique challenges and opportunities.
A couple of examples stand out. One instance involves a rapidly growing e-commerce company that faced challenges in handling a surge in sales volume. They experienced an influx of international customers and needed a solution to handle multi-currency transactions.
We provided a comprehensive payment gateway that not only managed their increased volume but also processed transactions in multiple currencies.

Our system seamlessly integrated with their existing e-commerce platform, allowing them to continue operations without interruption. The key to success here was scalability and integration.
We also developed fully integrated payment technology within call center software, assisting Fortune 100 companies in overseeing all payments and facilitating refunds directly within the software.
This innovation saved them significant time, money, and mitigated risk. Another example is a small local business that transitioned to online sales due to the COVID-19 pandemic.
They were new to digital transactions and needed a secure and easy-to-use payment solution. We set them up with a user-friendly payment system that offered strong security features, ensuring the protection of their customer data.
Additionally, we offered resources and support to help them understand the complexities of online payment processing, helping them navigate this new territory confidently. In this case, simplicity, security, and education were the critical elements of success.
At PlatPay, we believe that every business is unique, and therefore, their payment processing solution should be too. Understanding the specific needs and challenges of each business allows us to tailor our services and provide the most effective solutions.
The fundamental components of success in all our partnerships are under-
standing, customization, and collaboration.
How can the choice of payment processor impact a business’s scalability and overall growth trajectory?
Jed Morley: The choice of payment processor can significantly impact a business’s ability to scale and its growth trajectory. As businesses grow and evolve, their needs change, and the right payment processor can support and even catalyze this growth.
Firstly, a payment processor needs to be able to scale alongside your business. As your transaction volume increases, your processor must be able to handle that growth without performance issues.
If a processor can’t handle increased volume, it can lead to transaction failures or slowdowns, impacting customer experience and your reputation. Secondly, as businesses grow, they often expand into new markets, which may require processing transactions in different currencies or offering different payment methods popular in those regions.
The right processor can support these requirements, enabling smooth international expansion. Thirdly, the right payment processor can provide invaluable data insights.
By analyzing transaction data, businesses can identify trends, patterns, and opportunities, informing strategic decisions and driving growth. Fourthly, a good payment processor will provide robust security features, including fraud detection and prevention.
As businesses grow, they can become bigger targets for fraud, and mitigating this risk is crucial to maintaining customer trust and protecting your bottom line.
Lastly, your payment processor should provide excellent customer service. As your business grows, you might encounter new and more complex challenges.
Having a processor that offers expert support can make navigating these challenges much easier. So, in essence, the choice of payment processor can either be a catalyst for growth or a hindrance.
At PlatPay, we aim to be a partner in our clients’ growth, providing scalable, secure, and supportive payment processing solutions that enable them to focus on their core business.

Looking towards the future, how do you see the payment processing landscape evolving, and what should businesses do to stay ahead?
Jed Morley: This is my favorite question, Jed can you see the future of payments? I wish we had a crystal ball, but with USDC, FEDNOW, digital wallets and banks collapsing it’s going to be a very interesting time in payments.
The payment processing landscape is dynamic and rapidly evolving. Advances in technology, shifts in consumer behavior, and changes in the regulatory environment continuously reshape it.
However, we see ourselves as Payment architects, are ready to help you design and navigate through these changes. One key trend we’re seeing is the rise of alternative payment methods.
Consumers are increasingly using digital wallets, cryptocurrencies, and ‘buy now, pay later’ services. Businesses need to be ready to accommodate these emerging preferences to stay competitive.
Security will continue to be a critical concern. As payment technologies evolve, so do the techniques used by fraudsters. Businesses must remain vigilant, investing in robust security measures, staying up-to-date with the latest threats, and working with payment processors that prioritize security.
We also expect to see more AI and machine learning integrated into payment processing for risk assessment, fraud detection, customer service, and personalized experiences. Businesses that leverage these technologies can gain a competitive edge.
On the regulatory front, privacy and data protection will continue to be a focus area, especially as digital transactions become more prevalent. Businesses must stay abreast of changes in regulations to maintain compliance.
Finally, the importance of a seamless and integrated customer experience will continue to grow. The payment process is an integral part of the customer journey, and it needs to be as smooth and frictionless as possible.
To stay ahead, businesses should be proactive, flexible, and ready to adapt. They should stay informed about the latest trends, be willing to adopt new technologies, and choose a payment processor that’s committed to evolving and growing with them.
At PlatPay, we are committed to innovation and providing our clients with the tools and support they need to navigate the future of payment processing.
Jerome Knyszewski, VIP Contributor to ValiantCEO and the host of this interview would like to thank Jed Morley for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Jed Morley or his company, you can do it through his – Linkedin Page
Disclaimer: The ValiantCEO Community welcomes voices from many spheres on our open platform. We publish pieces as written by outside contributors with a wide range of opinions, which don’t necessarily reflect our own. Community stories are not commissioned by our editorial team and must meet our guidelines prior to being published.
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Rockstar Profile
Jed Morley: A Journey Forged In Hardship, Leading To CEO Triumph

Meet Jed Morley, an amazing entrepreneur whose life journey started with laborious work as a brick mason and hod carrier with his dad and brothers to Helicopter logging in Alaska and a transformative mission in Argentina.
Today, he proudly holds the position of CEO at Platinum Payment Systems (PlatPay), a renowned payment processing service provider, driven by his vast experiences and determination.
Rising from the Fields to the Boardroom
Jed Morley’s early life on a humble farm instilled the value of hard work, being the 8th of 13 siblings 7 sisters and 5 brothers gave him insight and lessons you normally won’t get in a family today. All while his adventurous spirit led him to the rugged terrain of Alaska where he ventured into the wilderness at the tender age of 18.
Witnessing the dedication and camaraderie of his colleagues, he learned the essence of persistence and teamwork. Later, he went to Argentina to serve a mission for his church, where he embraced the rich culture and developed a spirit of inclusion and empathy.
These experiences during his early years shaped his inner strength and played a big role in his journey as an entrepreneur. Jed Morley’s life tells an incredible story of starting from a basic beginning and rising to become a respected CEO.
Working hard is always more fun than doing hard work but much of that is controlled in your mind and thoughts, make a game and get the job done.

Thriving Through Versatility in Business
While pursuing his education at Utah Valley State College and the University of Phoenix, Jed Morley juggled multiple jobs and successfully (and not successfully) ran his own businesses.
The real estate industry became his arena, where he flourished as a marketer, and developer of subdivisions, charter schools, hotels, and more. His name soon became synonymous with excellence as he ventured into large projects, earning the reputation of a savvy entrepreneur. Jed’s prowess in navigating the complexities of business was only the beginning of his inspiring achievements.
Today he owns a real estate brokerage, Property Management firm and development company and coaches several national real estate teams, marketers and coaches.
Pioneering Change: Platinum Payment Systems (PlatPay)
In 2008, Jed Morley took a leap of faith and partnered with a few friends to buy Platinum Payment Systems (PlatPay) with a passion to solve payment challenges and usher in transformative technologies.
Leading the company to new heights, he positioned PlatPay as a trusted industry leader, admired for its commitment to seamless payment solutions. As the visionary at the forefront of managing payments during economic shifts, Jed’s expertise has been instrumental in shaping PlatPay’s success and propelling its continuous growth.
Coming at payments with a business owners perspective and not a payments guy gave him insight and helped create the motto “Payment Architect” which allows Jed and his team to manage all aspects and need of their clients payments.

Inspiring Resilience and Perseverance
Throughout his entrepreneurial journey, Jed Morley has overcome setbacks with tenacity and patience. After growing Platinum Payments into one of the fastest growing companies year after year and winning all kinds of awards He had a partner steel massive accounts via fraud and embezzlement.
Once again learning as you go through something like this isn’t easy but seeing the opportunities along the way has helped PlatPay become much stronger, with better technology and amazing payments company for the new emerging payments business.
Drawing from his own experiences as a real estate developer that also has it’s up and down markets has helped him give invaluable advice to aspiring entrepreneurs, emphasizing the importance of perseverance and resilience.
His own journey is a testament to the power of flexibility and adaptability, inspiring others to pursue their dreams relentlessly, regardless of the challenges they may face. “Time is on your side” sometimes you have to just let thing happen and make most out of your experience because this is your best education.

A Role Model for Aspiring Entrepreneurs
As an accomplished CEO and business leader, Jed Morley has become a role model for aspiring entrepreneurs worldwide. His journey from humble beginnings t achieving great heights as a CEO demonstrates that anything is possible with dedication, diligent effort, and a clear vision.
This started for him as a young boy always wanting to help others. After his mission he kept working with countries and people in need and helped establish hundreds of jobs, trainings and joint ventures for people in South and Central America.
One of the greatest accomplishments is working with people who have never been trained in business or not having anything and helping them get started with learning English, helping them establish a budget and getting a microcredit loan, finally helping them establish their business with marketing, distribution and P & L, I believe in teaching people how to fish and not just give them a fish.
Looking Towards a Purposeful Future
His entrepreneurial success does not solely define Jed’s journey; it’s also marked by his commitment to society. Jed established PlatGives, a charitable initiative to support nonprofits and charities, raising hundreds of thousands of dollars for orphans and others in need.
But Jed’s compassion extends beyond financial aid. An active rodeo competitor, he’s found a unique therapy in horses, teaching underprivileged children and adults to ride and care for them. This horsemanship has helped those struggling with anxiety and depression, creating a bond that fosters confidence and tranquility.
Whether it’s through PlatGives or his love for horses, Jed’s vision is to be a catalyst for transformation, placing purpose with profits, and making a positive difference in the lives of those in need. His dedication to these causes reflects his unwavering commitment to a purposeful future.

Conclusion
Jed Morley’s life is a remarkable story of going from a lumberjack to a celebrated CEO. It shows the incredible power of never giving up and having big dreams. He worked hard, valued different cultures, and was always eager to try new things.
As Jed Morley’s story continues to unfold, it stands as a testament to the transformative power of perseverance and the fulfillment that comes from making a difference in the lives of others.
With his heart set on empowering communities and driving innovation, Jed continues to blaze a trail of purpose, leaving behind a legacy that inspires the next generation of leaders to pursue their dreams with a compassionate and resolute spirit.
I welcome anyone to join me in helping others via our payments company and donation platform to help others because each payment will make a difference.
If you would like to get in touch with Jed Morley or his company, you can do it through his – Linkedin Page