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January 8 2018 • Issue 18:01:01
Delivering more than

payments amid disaster

Teel has seen disasters bring out the best in people,
reminding everyone of what matters most. When lives,
homes and communities are threatened, people take
risks to help others. The quest for survival can spawn
innovation and creativity, as people look for new ways to
use old tools. Following are stories and recommendations
from payments industry leaders, private companies and
business recovery specialists who have helped rescue
merchants from worst-case scenarios.
Businesses, lives interrupted

Ferhan Patel, co-founder and Chief Product Officer at
Payment Rails Inc., said people take services for granted
until they're not there. "In times of disaster, normal
conveniences we are accustomed to generally go out the
By Dale S. Laszig window," he said. "Going to a bank can become an ordeal
or take time one does not have. Getting a check in the
017 was a record year for natural disasters. mail can take too long, and you may not even be present
Through chaos and hardship, ISOs, service at that location during that time. Payments need to flow
providers and merchant level salespeople (MLSs) naturally and, most importantly, in a way convenient for
2 extended aid to numerous merchants in harm's the recipients."
way. The NOAA National Centers for Environmental
Information (NCEI) recorded 15 extreme weather and Teel concurred, saying people need to return to work, get
climate events as of Oct. 6, including one drought, one their children to school, and buy gas and groceries. When
freezing event, two floods, seven severe storms, three employees have trouble getting to the office, nine out of 10
tropical cyclones and one wildfire. Previous studies by will not be paid for the time they missed. This puts them
the government agency indicated the United States has in a compromised position, he said, adding they may have
weathered 218 disasters since 1980, at a cost of more than to change jobs, relocate or move in with family, which can
$1.2 trillion. The cost of hurricanes Harvey, Irma and have a domino effect on communities.
Maria, as well as several firestorms that occurred after Oct.
6, are still being assessed.
Contributed articles inside by:
Scott Teel, Senior Director of Communications at Agility
Recovery Solutions Inc., observed it's not easy to get Jeff Fortney .............................................................................................18
statistics from regional business failures while entities Steven Feldshuh ...................................................................................33
responsible for commercial studies are preoccupied with
rescue efforts. "When you're involved in the greatest Jeff Brodsly .............................................................................................36
disaster of your life, it really doesn't matter what the Suresh Dakshina ...................................................................................39
overall statistics tell you," he said. "The biggest thing we
hear from the hundreds of companies we work with, is 'I TOC on page 3
never thought it would happen.'"

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