This is episode 8 of the Monetize Your Payments podcast and Biju Nair, the GM and VP of Payments Boulevard is our special guest this week.
Biju grew up and did his undergrad work in India and got his MBA at Babson College in the Boston area and currently lives in Lexington, Massachusetts. He spent the last 15 years in payments.
Boulevard was founded in 2016 and is a business management platform that makes work easier for salon and spa owners. The company was founded on the principle that doing business in the beauty industry should be convenient for everyone. The average salon operates on a 5% profit margin, but with the Boulevard platform, the profit margin can double 90 days.
Their early customers asked for payments so it really was the customer experience that drove the need to integrate payments into their software. They used some payfac-in-a-box solutions initially and are now on the path to becoming a payfac themselves. Becoming a payfac will allow them the control their own destiny and offer other fintech solutions to their customers.
Biju provides some great advice around being educated about payments before making strategic decisions.