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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-
May 13, 2019 • Issue 19:05:01
complex,
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,
Paysafe's sales discovery process has evolved from price
Independent research by global payments provider Paysafe
POS solutions.
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
"The end goal is to help our customers implement solutions
voice response (IRV) systems and dial modems began to
replace phoned-in payment card authorizations. Like Morse
that enable them to better their business," Rawls said. "By
By Dale S. Laszig
code, early touchtone phones linked numeric values with
This is the first article in a two-part series that takes a
transmit credit card numbers. Over time, service providers
deep dive into today's SMB market. It takes a deep dive
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
Semafone, a data security and compliance solution
messages to broadly distributed
n a world where anyone anywhere can transact on
Jeh Holsomback ...................................................................................20 deliver targeted
provider for call centers, uses advanced DTMF masking
I it may seem incongruous to use
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
Industry Payment Application Data Security Standard
sonalize relationships, chat bots and digital assistants are
(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
that advanced speech recognition has enabled IVR systems
than they were ten years ago, which has helped reduce wait
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
privacy and security and enhance productivity? Or will
Brandes Elitch ........................................................................................24
Dee and Emily Karawadra .................................................................33
Peter Spee ...............................................................................................36
Adam Atlas ..............................................................................................38
Cover Story Education Continued on page 31
www.greensheet.com
SM
Open banking and the changing Street Smarts
payments landscape .........................................................................1 The payfacs are coming – Part 2 ...............................................28
By John Tucker, TreviPay
By Patti Murphy This second and final installment of a series on the rise of payfacs,
The open banking market, while nascent, is growing rapidly. But and their impact on payments, describes the pros and cons of
open banking can mean different things to diverse people and three payfac models: the referral, full and hybrid models.
situations. What does it mean to the payments industry?
The shift in risk perception, post-pandemic ......................30
News By Elaina Smith, Secure Bancard
News Briefs: A portfolio of mostly retail merchants used to be inherently less
risky than one consisting mostly of ecommerce. The pandemic
Fintechs building financial inclusion pathways ................12 changed that, creating the need for revamped risk-management.
Predatory lenders may face CFPB payback ........................12 What is the cost of money in B2B? ...........................................32
FIS getting real about payments..............................................12 By Roger McNamara, Guide2Interchange
For financial services reps selling card acceptance as an alternative
Safe, distanced SEAA reopens tradeshow season ...........12
payment method, knowing how your prospect borrows funds and
Fed presses for more choice in debit card routing ..........12 what they pay for funds is critical to success.
Industry Update ...............................................................................13 New Product
View Send, receive payments online with added value ..........34
Inspiration
Post-pandemic ISO valuation drivers ....................................18
By Anthony Malatesta, Wellesly Hills Financial Make the most of each new day ...............................................36
Historically, past attrition has provided guidance for projecting a Departments
portfolio's future attrition. But what do attrition key performance
indicators tell us today? The answer is, not much. Letter From the Editor ......................................................................5
Company Profile Readers Speak:
Which outreach options are best? ..............................................8
JUDI.AI : Spotlight Innovators ......................................................................21
Improving SMB access to credit, working capital ............23 Resource Guide .................................................................................38
Advertiser Index ...............................................................................46
New + Tried and True = A Winning Strategy for You
Reaching the right partners and customers requires a mix of
old and new approaches. Press releases are a peerless, proven
way to tell your company’s story while also delivering a sense
of urgency. Share your latest achievements for free on our
homepage multimedia hub. The payments community will News from the Wire::
pay attention, and you’ll advance your brand. Your Press Release
Send your press releases to press@greensheet.com.
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