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in the bank," Mac Nab said. "Next-generation businesses
The ve
The very point of salery point of sale can run circles around them; they understand the power
of social media, and they care more about long-term
relationships than short-term gain."

Mac Nab drew direct parallels between the year 2020 and
distant Cretaceous Period. In each case, smaller disruptions
went unnoticed until a climactic event forever altered the
landscape. Fossil records and recent history show that
failing to adapt can lead to extinction, he affirmed.
Are you transparent?

Mac Nab pointed out that transparency is critical to
survival in merchant services. Merchant acquirers and
Dinosaurs in the merchant level salespeople (MLSs) can build a lasting
residual base and take care of their families for years
age of COVID to come by fully disclosing their terms of agreement,
he added. "Dinosaur companies tend to focus more on
themselves," Mac Nab said. "They give [MLSs] a high level
By Dale S. Laszig overview of what they want them to know and send them
DSL Direct LLC. out without telling them why they should know it. This
lack of transparency gives our industry a black eye."
ome of you might disagree, but I wasn't around Mac Nab also noted that transparent agreements set you
when dinosaurs became extinct. Scientists say up for success and save you from customer attrition: your
it happened about 65 million years ago, during high closing ratio means nothing when your merchants
S the Cretaceous Period. T-Rex and friends were start calling to question charges on their statements and
wiped out after terrorizing smaller animals for 175 million you end up losing ten percent of your base; in the end,
years. In today's digital-first world, we hold them up as a it's not only about the company you represent, it's about
terrible warning of what can happen to organizations that you and your word and your integrity as an independent
don't evolve with the times.
contractor, he said, adding that it's up to guys like me to
educate merchants fully, especially when it's something
Scientists suggest that dinosaurs had been on the they don't want to hear.
decline for a while and were most likely finished off by a
catastrophic event. While the exact nature of the event is Have you found a niche?
still being debated, research indicates it could have been
an asteroid or series of volcanic eruptions that brought As I listened to Mac Nab, I envisioned T-Rexes stomping
gradual climate change to an inflection point. through forests, terrorizing small and helpless people,
while knowing in reality the two had not coexisted.
"Whatever the causes, the huge extinction that ended the Seeking an equally vivid way to convey the alternative,
age of the dinosaur left gaps in ecosystems around the I asked him what a hero or heroine would look like in
world," wrote researchers at the Natural History Museum. this scenario. Is it a force of nature? Is it a person who
"These were subsequently filled by the only dinosaurs to empowers the caveman to be self-reliant and defend
survive—birds—and mammals, both of which went on to against monsters?
evolve rapidly."
Are you evolving?
Mac Nab drew direct parallels
Like catastrophic events of yore, COVID-19 has wreaked
havoc on ecosystems around the world, abruptly ending between the year 2020 and
massive companies that had dominated retail and
hospitality for years. Amid the devastation, payments distant Cretaceous Period.
industry leaders and feet on the street went to work In each case, smaller
to help small and midsize business owners stay alive.
The resulting new reality calls for different tools and a disruptions went unnoticed
different mindset, according to Austin Mac Nab, founder
and CEO at VizyPay. until a climactic event forever
altered the landscape.
"I think smaller, nimbler companies are realizing that the
payments industry dinosaurs are not going to be able to
keep up very long, no matter how much money they have
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