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Education
StreetSmarts SM
Are merchant services future-proof?
By Dale S. Laszig Dee Malik advocated staying in the game. "Better to be in
Castles Technology Co. Ltd. the game than on the sidelines, and better to make history
than just becoming a historian," he said. "That is true in
academia, sports and just life."
any developments we've been anticipating
in merchant services are already taking Make payments invisible
root in popular culture. How can we lever-
M age these trends to remain competitive? It Payments that are seamlessly embedded inside a total
takes dexterity for merchant level salespeople (MLSs) to consumer experience are gaining popularity among
stay in the game. Government regulations, Payment Card retailers. In his Wired magazine article "The Age of
Industry standards, evolving markets and emerging tech- Invisible Design Has Arrived," Scott Dadich wrote, "[W]
nologies all are competing for our attention and changing e're entering a new era, one in which designers create
perceptions about credit cards. experiences centering not on physical objects but on the
fabric of digital information that surrounds us.
Following are suggestions from GS Online MLS Forum
members on how to prepare today for the future of payments. "That's the next great challenge for design: weaving the
threads of technology, information, and access seamlessly
Remember the basics of selling and elegantly into our everyday lives.
Clearent reminded us about the constancy of change. "When a social network automatically checks us into a
"In 10 years we will have people complaining that there location, or cashiers can suggest new products based on
is a race to the bottom," he wrote. "We will hear card our purchase history, or our connected TV calls up our
associations talking of new security measures. We will favorite shows when we walk into the living room (all
hear people say we need to stop selling X and start selling things that are either happening now or coming soon),
Y because [it's] the wave of the future. it may seem like magic. But these are carefully designed
experiences."
"We will see … young people come into the business, make
a poor partner choice, see either short-term or no-term What kind of magic trick would make credit card
success, [then] leave. Does any of this sound familiar? It processing disappear? It would most likely begin with
should because [that's] exactly how it was 10 years or 15 eliminating the traffic stops in payment activities. Line-
years ago." busting, curbside pay, online-to-offline ordering, and
mobile payments all de-emphasize credit cards while
He added that selling, like baseball, requires focusing on facilitating a holistic consumer experience.
the basics: "pitching, catching and timely hitting."
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42
42
StreetSmarts SM
Are merchant services future-proof?
By Dale S. Laszig Dee Malik advocated staying in the game. "Better to be in
Castles Technology Co. Ltd. the game than on the sidelines, and better to make history
than just becoming a historian," he said. "That is true in
academia, sports and just life."
any developments we've been anticipating
in merchant services are already taking Make payments invisible
root in popular culture. How can we lever-
M age these trends to remain competitive? It Payments that are seamlessly embedded inside a total
takes dexterity for merchant level salespeople (MLSs) to consumer experience are gaining popularity among
stay in the game. Government regulations, Payment Card retailers. In his Wired magazine article "The Age of
Industry standards, evolving markets and emerging tech- Invisible Design Has Arrived," Scott Dadich wrote, "[W]
nologies all are competing for our attention and changing e're entering a new era, one in which designers create
perceptions about credit cards. experiences centering not on physical objects but on the
fabric of digital information that surrounds us.
Following are suggestions from GS Online MLS Forum
members on how to prepare today for the future of payments. "That's the next great challenge for design: weaving the
threads of technology, information, and access seamlessly
Remember the basics of selling and elegantly into our everyday lives.
Clearent reminded us about the constancy of change. "When a social network automatically checks us into a
"In 10 years we will have people complaining that there location, or cashiers can suggest new products based on
is a race to the bottom," he wrote. "We will hear card our purchase history, or our connected TV calls up our
associations talking of new security measures. We will favorite shows when we walk into the living room (all
hear people say we need to stop selling X and start selling things that are either happening now or coming soon),
Y because [it's] the wave of the future. it may seem like magic. But these are carefully designed
experiences."
"We will see … young people come into the business, make
a poor partner choice, see either short-term or no-term What kind of magic trick would make credit card
success, [then] leave. Does any of this sound familiar? It processing disappear? It would most likely begin with
should because [that's] exactly how it was 10 years or 15 eliminating the traffic stops in payment activities. Line-
years ago." busting, curbside pay, online-to-offline ordering, and
mobile payments all de-emphasize credit cards while
He added that selling, like baseball, requires focusing on facilitating a holistic consumer experience.
the basics: "pitching, catching and timely hitting."
42
42
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