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August 27, 2018 • Issue 18:08:02

Partners: payments industry's DNA – Part 2

By Dale S. Laszig

artnership models between merchant level sales-
people (MLSs) and their customers are changing.
At a time when most business owners can easily
P set up payment processing, merchants are seek-
ing partners with tools and resources that can help them
compete with large retail chains. Payments analysts have
observed that processing is a small component of trending
products and services.

The Green Sheet asked leaders from various payments
industry sectors how they choose partners and create
profitable, long-term relationships. In the first article
of this series, published Aug. 13, 2018, in issue 18:08:01,
executives discussed how partnerships address merchant
requirements and accelerate growth. In this second and
final article of the series, they provide insights into their Today it's far easier to make changes. Technology is simple,
unique partnership models and philosophies, with practical requiring little staff training. Subscription models have
advice on how MLSs and merchants can forge mutually replaced heavy upfront investments; continuous updates
beneficial partnerships. have removed concerns about data security and product
Sell security, continuity longevity. Gateways dynamically route transactions to
different processors. Customer databases are easy to
Before cloud-based and mobile technologies gained migrate. Massive merchant portfolio conversions can be
mainstream acceptance, merchants who changed processors managed remotely with minimal inconvenience.
frequently had to rip out old systems, install new equipment
and train staff. Many merchants delayed making changes as "We've reached an inflection point in our industry for
they weighed benefits against operational expenses, down new entrants and incumbents alike," said Ruston Miles,
time and uncertainties about data security and product life co-founder and chief strategy officer at Bluefin Payment
cycles. Systems LLC, a payment security company. "Quite a bit of
these changes occurred during the recent EMV migration,
when service providers looked under the hood and
identified other [technology] areas in need of improvement."
Contributed articles inside by: As processing takes a backseat to vertically focused,

mobile-first solutions, merchants rely on MLSs to help
Brandes Elitch ........................................................................................27 them delight customers and navigate the ever-changing
Steve Norell ............................................................................................38 payments landscape while enjoying an uninterrupted
Mike Camerling .....................................................................................40 processing experience, Miles noted. "As advanced POS and
Jeh Holsomback ...................................................................................44 practice management systems replace yesteryear's clunky
old machines that dialed out, it's important that innovation
Evan Weese .............................................................................................46 not overrun or pass up security innovation," he said.

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