by Keith Reid-Cleveland
November 26, 2019

Despite the growing influence of electronic payment systems and cryptocurrencies, we’re still pretty far off from living in a cashless society. But that doesn’t change the fact that more consumers are swiping their cards at checkout than they used to. 

Currently, many businesses that allow customers to use credit cards are faced with an additional processing fee, which is often absorbed into the price of goods. CardX removes this step altogether by passing the fee onto the consumer at the time of the transaction — unless they use a debit card or cash. 

As the payments industry continues to shift and evolve, CardX is democratizing the way we pay for goods by giving businesses and consumers options. Its team gave us a view inside the scaling company. 

 

cardx river north office

cardx office and team

CardX office

 

FOUNDED: 2013

EMPLOYEES: 20

WHAT THEY DOCardX provides technology that allows businesses to accept credit cards at no cost while remaining in full compliance with existing regulations.

WHERE THEY DO IT: Chicago

OUT ON THE TOWN: CardX employees regularly enjoying spending time out of the office at local sporting events, art galleries and happy hours. 

DRESS UP FRIDAYS: On Fridays, you shouldn’t be surprised if you see CardX employees in matching Hawaiian shirts, flannels, or whatever the day’s theme is. 

 

CardX team

CardX employee

 

Venson Kuchipudi, Senior Vice President, Technology

Kuchipudi’s role includes overseeing all of CardX’s tech innovations, but he also has a goal of making a lasting and positive impact on the world while his team develops professionally and personally. 

 

What is the biggest challenge that your customers face with payments? How is CardX addressing those?

The biggest challenge for our customers is the increased credit card processing costs that especially impact businesses with narrow margins. CardX directly addresses this by passing on credit card fees to their customers. However, we also provide a way for customers to opt-out of all fees by using a debit card. This transparency into fees associated with payments is also rare in the industry and is poised to transform both the fees charged as well as the cost of goods.
 

One of the most exciting products we are creating is a new version of our portal for merchants, where they can manage their accounts and process transactions.”


Do you make changes to CardX’s tech stack depending on the project at hand? What’s your strategy behind any changes?

We determined and standardized our stack earlier on and don’t change the key technologies. However, we continuously look for and adapt to new modules and tools that improve on those technologies. We use a bottom-up approach to determine if these create efficiencies and/or improvements, directly from the developers that use the tools. Code maintainability and longevity are key concerns when adopting new tools.

 

What are some of the new products the tech team is developing? How will they impact your customers? 

One of the most exciting products we are creating is a new version of our portal for merchants, where they can manage their accounts and process transactions. What is revolutionary are the reporting capabilities and data visibility, which is rare in the payment industry.

 

CardX team

CardX employee

 

Natalie MaLossi, Vice President, Operations

Natalie’s responsibilities at CardX range from building out the support, sales and account management teams to implementing sustainable operations processes as the companies continue to scale. In short, she makes sure everything keeps moving in the right direction. 

 

You worked at Braintree before coming to CardX. What makes you passionate about working in the payment industry? 

Payments is a continually evolving landscape and each day provides a new challenge that keeps me engaged and excited. I enjoy recognizing the industry shifts and finding creative solutions to help our teams adapt. In my prior role at Braintree, I drove cross-functional collaboration between operations and technology teams as we scaled from a mid-size to a large organization. I became well versed in the challenges associated with rapid growth, and I have been able to use my experience and best practices as we build out our operations teams at CardX.
 

It’s exciting to build the teams and processes that will prepare us for the growing demand for surcharging in the payments industry from scratch.”


What attracted you to come to CardX? 

The opportunity to build out an entire operational paradigm for a company on the precipice of significant growth. The opportunity has been everything I could have hoped for, as I have been entrusted with preparing our teams to scale both in service and in sales as we launch our new generation of products to the marketplace. It’s exciting to build the teams and processes that will prepare us for the growing demand for surcharging in the payments industry from scratch.

 

What are some steps that CardX has taken to prepare for the future? How will it accomplish its future goal? 

Part of preparing for growth is anticipating where that growth will cause strain on our business as it currently exists. My role as VP of operations is to adapt our systems and processes to prepare for those challenges. In my time at CardX, we’ve implemented an internal documentation site, a ticketing system, built a direct sales strategy to complement our sales through channel partners and thoroughly defined our triage and escalation paths for a range of client issues.

 

CardX team

CardX employee

 

Eliana Sanchez, Talent Lead

CardX is growing, but that doesn’t happen on its own. Eliana focuses on employer branding, hiring and onboarding to help the company scale.  

 

What first attracted you to CardX? What has your experience been like so far?

The team is fantastic, and I’m given the chance to run with the role in a way that I wouldn’t at another organization. So far, I’ve been able to define our recruitment process, build employer branding partnerships, implement software and make four new hires — all in the span of two months.

 

How would you describe the culture of CardX to someone who hasn’t visited the office? What’s a typical day in the office like?

There’s a unique sense of comfort and belonging here, and we make sure that everyone feels that their environment is conducive to them contributing at a high-level. We joke and have fun, but strike a balance with simple professionalism and an earnest dedication to our work. Each team meets at least once a day, and individuals have the ability to work fairly autonomously the rest of the time.
 

In the last month, there has been a one-third increase in hiring, and I don’t see us slowing down anytime soon.”


What are some signs of the company’s recent growth? 

I came into the mix as the 12th employee after the company secured an additional $2 million in funding, which is dedicated to growth. In the last month, there has been a one-third increase in hiring, and I don’t see us slowing down anytime soon.

Over the course of the next several months, I anticipate the team undergoing exponential growth, with teams now consisting of a couple of people becoming their own departments with many employees. 

 

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