Page 3 - GS210401

InsideGS

Empowering and connecting Enterprise selling in an

January 14, 2019 • Issue 19:01:01
today’s payments professionals SMB world – Part 1
SMBs face.
Help me innovate
level salespeople (MLSs) can use their industry knowledge
and personal experience to solve the most pressing issues
By Dale S. Laszig
During the past two years, Paysafe Group's Lost in
Transaction series has highlighted global payment trends.
In its latest installment, researchers surveyed 601 card-not-
complex,
May 13, 2019 • Issue 19:05:01
present (CNP) SMBs in the United States, Canada, United
Kingdom, Germany and Austria and 306 card-present
and the customer experience.
uoyed by reports of record 2018 holiday spend-
set of challenges.
attitudes about payment acceptance methods, innovation
Conversational commerce:
ing, analysts predict more retail growth in 2019,
particularly in the evolving small and midsize
B business (SMB) sector. Advanced technologies
O. B. Rawls IV, chief commercial officer, payment processing
at Paysafe, said the research revealed that brick-and-
have introduced SMBs to a big-brand experience and new
SMBs in the United States and Canada. Respondents shared interactive, evolving
mortar retailers aspire to truly innovate at the intersection
IVR systems
of payments and the in-store experience. In response,
Independent research by global payments provider Paysafe
POS solutions.
Paysafe's sales discovery process has evolved from price
Group found SMBs struggle with "competing priorities" in
and service discussions to needs assessment and solution
their efforts to balance frictionless checkouts with payment
security. Lost in Transaction: The future of payments for SMBs,
selling, he noted. Direct and indirect sales representatives
have been centering conversations with merchants about
published by Paysafe in October 2018, found 54 percent
security, data protection, business management tools and
Contributed articles inside by: dual-tone multifrequencies (DTMF) to enable machines to
aggressively targeted by fraudsters.
of ecommerce merchants surveyed believe frictionless
transactions, such as in-app payments, make them more
Payment technology's evolution began when interactive
vulnerable to fraud. Seventy-six percent reported feeling
voice response (IRV) systems and dial modems began to
"The end goal is to help our customers implement solutions
replace phoned-in payment card authorizations. Like Morse
that enable them to better their business," Rawls said. "By
code, early touchtone phones linked numeric values with
By Dale S. Laszig
This is the first article in a two-part series that takes a
deep dive into today's SMB market. It takes a deep dive
transmit credit card numbers. Over time, service providers
eavesdropping on sensitive payment card data.
into evolving SMB environments and includes research
began to mask DTMF sounds to prevent criminals from
findings and commentary by payments industry leaders
innovating in the space. Part 2 will examine how merchant
TOC on page 3 machines and humans on the phone, email or online chat. certification themselves," he added.
any device, digital assistants help
messages to broadly distributed
Semafone, a data security and compliance solution
n a world where anyone anywhere can transact on
Jeh Holsomback ...................................................................................20 deliver targeted
I it may seem incongruous to use
provider for call centers, uses advanced DTMF masking
in its flagship solution, Cardprotect. Gary E. Barnett, CEO
Steve Norell ............................................................................................34audiences. While
Nicholas Cucci ........................................................................................40
at Semafone, noted that Cardprotect 4.0 is Payment Card
Martina Jeronski ...................................................................................36 machines to per-
Bill Pirtle ...................................................................................................42
sonalize relationships, chat bots and digital assistants are
Industry Payment Application Data Security Standard
(PA-DSS) certified. "We are literally saving our payment
becoming adept at representing the people and companies
application partners valuable time and costs that would
they serve. It's not always easy to differentiate between
otherwise have gone towards achieving the [PA-DSS]
"Voice: payments' next integration," The Green Sheet's lead
Continued on page 31
article in issue 19:04:01, examined the expanding role of
Adam Hofman, product manager at CallRail, mentioned
than they were ten years ago, which has helped reduce wait
that advanced speech recognition has enabled IVR systems
voice technologies in payments. This article explores how
to recognize complex phrases. "These systems are smarter
sentient machines are transforming transactions from
simple clicks into complex, interactive and contextual
times while improving customer experience," he said.
expressions of our interests, personalities and lifestyles.
jobs? they encroach on personal moments and take away our Contributed articles inside by:
The article also addresses concerns voiced by merchant
level salespeople and their customers about AI in smart
homes and connected workplaces. Will AIs respect our
TOC on page 3 Continued on page 31
privacy and security and enhance productivity? Or will
Brandes Elitch ........................................................................................24
Dee and Emily Karawadra .................................................................33
Peter Spee ...............................................................................................36
Adam Atlas ..............................................................................................38
www.greensheet.com
Cover Story Education
SM
Hardware-grade security for Street Smarts
digital commerce – Part 1 ...............................................................1 Embedded finance: The time is now .......................................30
By Dale S. Laszig By John Tucker, TreviPay
Hardware remains integral to electronic transactions but is no We're undergoing a third fintech wave that is all about embed-
longer the face of payments. How will solution providers make PIN ding financial services—payments, lending, insurance, banking
entry and P2PE work in virtual, mobile and in-app commerce? and regulations—into the systems merchants are already using.
News ISOs can be banking conduits
for cannabis businesses ...............................................................32
News Briefs: By Max Miller, Paybotic
A new breed of financial technology firms has emerged to seize
Interchange rate hikes on hold for another year .............10
on the cannabis market opportunity, building platforms that ad-
New federal data privacy standard proposed ...................10 dress the financial services needs of cannabusinesses.
5G deployments spur economic optimism .........................10 Banging a square peg into a round hole ..............................33
Digital fraud balloons due to COVID ......................................10 By Roger McNamara, Guide2Interchange LLC
The current credit card offering in the B2B payments space is akin
U.S. ecommerce to continue unabated .................................12
to attempting to pound a square peg into a round hole. But cards
Friendly chargebacks rising amid COVID ............................12 still have a place at the B2B payments table.
Industry Update ...............................................................................14 The profit rules – Part 2 .................................................................34
By Jeff Fortney, Signature Payments
View This is the second article in a series detailing nine rules for running
a profitable business as a merchant level salesperson. Expanding
Insider's report on payments: on the first article, it provides do's and don'ts on fees.
Interchange in the crosshairs ....................................................18
By Patti Murphy, ProScribes Inc. Company Profile
Visa and Mastercard postponed for a year interchange rate Theta Lake:
changes that were slated for April 2021. This followed news that
Intuit is suing the two brands in federal court. AI risk detection via video, voice, text ...................................36
UK regtech at the forefront of global compliance ...........20 New Product
By Jane Jee, CEO at Kompli-Global Pay and get paid with all-in-one intelligent platform ...37
A UK government-backed report led by a former Worldpay chief
executive is welcomed by stakeholders in the fintech/regtech Inspiration
space, who hope the UK adopts many of its suggestions. A good time to thrive .....................................................................38
Take time, think big, deliver exceptional outcomes .......35 Departments
By Simon Fairbairn, Ingenico, a Worldline company Letter From the Editor ......................................................................5
The pace at which we deliver on our businesses objectives has
never been faster, but this obsessive pursuit of profit can leave Readers Speak:
little time for the big thoughts or more radical ideas to ferment. Will it be safe to gather in May? ...................................................8
Spotlight Innovators ......................................................................21
Resource Guide .................................................................................39
Advertiser Index ...............................................................................46
3