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A Summer of Credit Card Processing and Data Analysis [SkIP 2020]

Michael Del Greco (AB '22)
July 22, 2020
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My name is Michael Del Greco, and I am a rising junior studying mathematics and computer science in the College of Arts and Sciences with a second major in economics and strategy in the Olin Business School.  This summer I have been interning at SwipeSum.  SwipeSum works with different merchants to ensure they are getting the lowest credit card processing rates and fees.  They analyze a company’s credit card processing statement by performing a cost savings analysis to determine which processor is optimal for their business, saving companies countless dollars over time in the process. 

SwipeSum has now been working to automate these procedures by developing a new AI system called Staitment.  This software will take in a statement and analyze it almost instantly.  In the past seven weeks, I have been primarily working on data analysis and testing the software for Staitment.  As Staitment is completed over the next few weeks, I will also be helping them bring it to market. 

Performing data analyses of statements for Staitment to analyze is one of my biggest accomplishments while working at SwipeSum.  This work basically entails analyzing statements in the same manner as the software to guide the AI in analyzing statements alone.  I have completed many of these analyses, and I see how completing this work has allowed SwipeSum to speed up the progression of Staitment.  This made me realize how big of an impact I am having and can continue to have as it is actually affecting their product timeline.

While working at SwipeSum, I have learned many things about the world of entrepreneurship.  Firstly, I have learned how important it is to learn quickly.  I came into my internship with absolutely no knowledge regarding credit card processing, but by the end of the first week, I was able to look at a statement and pull some important information from it.  I still don’t know everything about credit card processing, but in the span of just a few days, I was able to learn so much.  This is a necessary skill in a startup because many consist of only a few people, so you must be prepared to complete an assortment of tasks, forcing you to learn completely new skills. 

Second, my experience has taught me the importance of communication through a combination of working at a startup and the current COVID-19 pandemic.  Overall, in the world of entrepreneurship, it is always important to ask questions and ask for advice because most startups work with many uncertainties. 

Specifically during the COVID-19 pandemic, however, this has been even more relevant during my internship.  In normal circumstances, communication flows relatively easily because all employees are working together under the same roof, but since I have been forced to work remotely, this is not a possibility.  Instead, it is working with a variety of video calls, emails, and Slack messages to ensure proper communication.  Since only these limited options have been available, I have realized how many of us take standard face-to-face communication for granted because it’s much harder to ensure full communication in these restricted forms.  Making these realizations in the past couple of months has influenced how I have worked and how I will continue to work in my position by forcing me to hold myself accountable to properly communicate given the situation.