TRANSACT 23 reflects speed, scope of payments

With a verb for a name and "speed of payments" as a theme, the Electronic Transactions Association's TRANSACT 23 drew 3,000 attendees and over 150 speakers, 130 exhibitors, 800 companies and 1,800 decision-makers to Atlanta's Georgia World Conference Center from April 24 to 26, 2023. For three decades, the annual conference and expo has evolved alongside the ever-changing payments industry, according to Jodie Kelley, CEO of the ETA.

In a pre-event interview with The Green Sheet, Kelley proposed that the three-pronged tagline, "connections at the speed of payments; business at the speed of payments; insights at the speed of payments," reflects the multilayered commerce ecosystem.

"We interpret the core message, 'at the speed of payments,' in different ways," she said. "Connections are leaning in and networking; business is coming together to get deals done; insights represent our robust education program."

Looking ahead to the conference and near-term future, Kelley expressed hope that people would leave excited about payments industry opportunities and the ETA's commitment to their success. The association is here to support the payments ecosystem in myriad ways, she added, including political advocacy, education, networking and more, to help everyone thrive throughout the year.

Connections

Kelley further noted TRANSACT would use Grip, a free AI-powered business matchmaking app, to help participants network, set agendas, see new recommended connections and set up meetings. To ensure success, she said an on-site Grip expert would be present during show hours in the central networking lounge. Emphasizing that the ETA wants to make it easier for the community to come together, she cited the following additional networking opportunities:

• Meetups: end-of-day gatherings, open to all, enable participants to meet experts and network.

• Receptions: Receptions on the show floor, an all-attendee party at downtown Atlanta's Tabernacle and cohort of after-hours parties featured live entertainment and casual networking experiences.

• Visa Celebration and ETA Awards: Held at the Georgia Aquarium, the event honored outstanding ETA members.

Business

In opening the conference, Kelley thanked sponsors, exhibitors, speakers and attendees, stating this is an exciting time to be in payments, with U.S. card purchase volume increasing 13 percent year over year and transactions increasing by 8 percent. The future is bright, she noted, and the five-year global payments revenue outlook now exceeds pre-pandemic expectations, topping $3 trillion by 2026. Current economic technological and social shifts are creating space for disruption and innovation, and the conference showcases the leaders carving the path forward.

Projecting the global B2B payments market will reach $1.6 trillion by 2028, Kelley said it will be fascinating and fun to see how payments industry leaders make commerce easier, faster and safer.

"We are on a mission to help your business thrive today, tomorrow and into the future, and that future is coming at warp speed," she said, encouraging the audience to get out, meet new people, brainstorm and envision a future made possible because of their work.

Insights

TRANSACT offered a complement of simultaneous presentations designed to showcase what's new, what's now and what's next in payments, on four stages and six tracks, as follows:

• Innovation track: Reviewing disruptive technologies.

• Opportunity track: Exploring customer experience, sales and revenue growth, and partnership opportunities.

• Transformation track: Delving into the transformative innovation of embedded payments and finance and its impact on future payments.

• Deep Dive: Security, Risk & Compliance: Probing how AI, machine learning and data management can help fight bad actors and how fintech is transforming KYC, AML and more.

• Deep Dive: Crypto, Web3 & the Metaverse: Modeling the way to new trends shaping crypto, the metaverse play and Web3.

• EMPOW(H)ER: Offering hands-on training, and networking and mentoring opportunities designed to empower payments industry women and help them advance in their careers.

Connecting the world

Sarah Koch, director of marketing and communications at Aevi, who traveled from Germany to attend the event, stated TRANSACT supports her company's vision of an open, inclusive world.

"As an Aevi'ator, it was awesome to see the focus on prioritizing customers, creating value and experiences for them, and simplifying payment procedures for small and midsize businesses," she said, adding that it's all about making payments easy and accessible, no matter where you are.

The Green Sheet thanks payments industry leaders who met with us during the conference. Stay tuned for interview highlights in next week’s breaking news.

Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.

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