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August 13, 2018 • Issue 18:08:01

Partners: payments industry's DNA – Part 1

a payment security company. "POS systems and all the
vendors surrounding the industry provide a single,
continuous merchant experience. The companies that offer
these services are frequently in league with other partners."
Processing continuity

When comparing old and new service models, executives
observed that processing continuity remains a top concern
among large and small merchants. They said merchants
want assurance that service partners can meet their needs
today and tomorrow. Merchants choose partners who
confidently convey their ability to keep systems secure,
compliant and up-to-date, they noted.

Ben Goretsky, CEO at USAePay, a payment gateway service
By Dale S. Laszig provider, said MLSs need to know their products and have
a better set of product offerings. "Merchants leave because
very handshake between a merchant level sales- their current solution doesn't have certain features or an
person (MLS) and a customer reflects a heritage up-to-date shopping cart that does more than their current
of payments industry partnerships. Card brands cart," he said. "What happens is they start to look for other
E and issuers, acquirers and merchants, technol- solutions. Let them know you have a portfolio of product
ogy companies and third-party service providers collec- offerings." They may not need the solutions now, but they
tively form a complex network of partners driving today's will know you have them and will think of you at their time
fast, secure electronic transactions. of need, he pointed out.

The Green Sheet asked leaders from various industry sectors When service providers had to make all their revenue
how they choose partners and create profitable, long-term upfront, they sold vanilla, out-of-box models that were
relationships. Most agreed that partnerships, whether expensive to install, maintain and replace, Miles noted. He
between merchants and MLSs or tier-one retailers and
global acquirers, are built on similar principles. Developing
healthy, sustainable partnerships is the focus of a two-part
series. This first article explores how partnerships address Contributed articles inside by:
today's merchants' top concerns. The second will explore
attributes of successful payment partnerships.
Steve Norell ............................................................................................36
"The payments industry is modeled on partnership because Jeff Fortney .............................................................................................38
there are so many aspects to it: technology, hardware, Dinesh Saparamadu ............................................................................39
services, software, POS systems and myriad third-party Bill Pirtle ...................................................................................................40
service providers," said Ruston Miles, co-founder and
chief strategy officer at Bluefin Payment Systems LLC, TOC on page 3

Continued on page 31