All revenue figures shown are NET to the bank
— interchange costs, ACH fees, and processor fees are already deducted.
Invoicing: $50K annual volume per SMB, $100 avg ticket. Card NET margin: 1.16% (3.2% gross discount rate minus 2.04% CNP interchange). ACH NET: $0.99/txn ($1.00 gross minus $0.01 ACH cost). Card/ACH split adjustable (default 60/40).
Tap-on-Phone: $50K annual volume per SMB, $50 avg ticket. NET margin: 1.35% (3.0% gross discount rate minus 1.65% card-present interchange).
Bill Pay: $150K annual volume per SMB, $1K avg ticket. Payment mix: 85% ACH ($0 margin), 5% Wire ($10/txn), 5% Check ($0), 5% Virtual Card (2.08% net interchange after 20% processor fee).
Expense Management: $50K annual card spend per SMB. NET interchange: 2.08% (2.6% gross interchange minus 20% processor fee).
Year 1 Ramp: 50% revenue haircut applied to Year 1 to reflect mid-year onboarding.
Module Adoption: Invoicing 100%, Tap-on-Phone 50%, Bill Pay 75%, Expense Mgmt 75% of adopted SMB base.
NII from Deposits: Applied to total deposit base adjusted by adoption rate and annual deposit growth. NIM default: 3.77% (FDIC Q4 2025 avg).
Subscription: Per-SMB monthly SaaS fee, annualized. Default: $69/mo.
