Monday, July 24, 2023
Oberman was CEO at Integrity, a position he held after the company's 2018 merger with Payroc, an ISO operated by Oberman's sons and nephew. Today, he is CEO of Payroc, working side-by-side with his sons and nephew.
After being presented the award by Jeremey Epstein of CIBC Bank USA during the conference's opening session, Oberman offered this advice to new and seasoned payments professionals: "Don't take yourself too seriously. Life passes by in the blink of an eye."
Indeed! The conference was abuzz over the sudden passing in May of this year of industry stalwart Derek Vowels, a board member of the Southeast Acquirers Association who was also active with MWAA. Also top of mind was John Yarmy, CEO at Regal Payments, a company he helped launch, who expired suddenly in 2021. Both men were in the prime of life. Some attendees were seen donning baseball caps featuring each man's initials.
Nearly 1,000 acquirers, ISOs, sales reps and technology providers descended on Schaumburg for the MWAA annual conference, now in its 21st year, where they networked, attended educational sessions and roamed an exhibit hall brimming with technology providers and potential partners. The optimism and spirit of camaraderie throughout the event venue were palpable.
The MWAA used the occasion to debut a colorful new logo depicting the industry's evolving nature. In a video posting about the new logo, a voiceover explained how the association "strives to create a bridge between the past, present and future in the payments and fintech space. Our new logo represents all that we are working toward and who we are working alongside to get there."
MWAA also announced that its 2024 conference will take place July 24 to 25 in downtown Chicago.
Oberman, in his remarks, noted how much has changed in his 35-year career. But one thing that hasn't changed, he told the crowd, is in-store shopping. "Card present transactions aren't going away," he said, adding that ecommerce, while growing fast, still accounts for just 15 percent of retail sales.
One change discussed during a panel discussion was the relationship between ISOs and their bank partners. Considering recent high-profile and unexpected bank failures, Ken Musante of Napa Payments and Consulting talked about how ISOs and agents need to really know their bank partners. "In today's environment, banks can fail in a matter of days," he said.
Fadi Cheikha, chairman and CEO at US Alliance Group, added that the partnership between an ISO and its sponsor banks needs to be a two-way street. USAG, doing business as Electronic Cash Systems, is a registered ISO with several acquirer banks.
"It's not just a sponsor bank, it's your partner," Cheikha said. "You have to protect your bank. If you don't, you will lose everything."
Musante and Phil Ricci, senior vice president for payment solutions at Pathward a South Dakota-based bank previously known as MetaBank, both discussed a renewed interest in merchant acquiring on the part of banks. Non-interest income, like merchant fees, "is coveted by banks," Musante said.
"Sponsorships are down," Ricci said, adding that the days of ISOs hop-scotching from one sponsor bank to another for better pricing are gone. "A sponsor bank's number one responsibility is to the networks, and getting money to the parties that earned it," Ricci added. "It's a lot of work, and if you get it wrong, it can get you in a lot of trouble." 
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