Page 29 - GS210701

Education

And we found ways to thrive. We found opportunity in
cloud-based solutions for small to midsize merchants. We
found new markets and new ways to generate revenue
from those markets. It didn't hurt that demand for card Change, even if it moves slowly,
acceptance increased as consumers migrated away from is often scary. It can make
cash and checks and chose the easiest means possible—
electronic payments. people anxious, and that anxiety
impacts selling success.
Yes, even with the evolution over these past eight years,
it is clear that the payments industry continued to grow,
along with those who adapted (either on their own or with
the help of trusted advisers) and found the success and
rewards our industry still offers. Which brings us to today. them, we gained knowledge about what to expect, what to
avoid and how to approach businesses during a downturn
One of my favorite sayings (and one that has helped me in the markets.
through the years) is by Santayana: "He who does not learn
from history is doomed to repeat it." In many situations, Santayana's statement provides little help or direction
knowledge of historical events have helped people analyze with what hit us all in March of 2020.
and react to similar events that occur today. Even in the
payments world, perspectives on past events have helped Although we expected the industry to continue to evolve,
us manage current events. we had no way of knowing, predicting or even preparing
for what we all faced over the past year plus. There was
For example, the 2008 Great Recession was extreme, no warning, and the suddenness of pandemic-induced
with merchants failing—and whole industries falling closures impacted all of us—both professionally and
apart. Yet to aid our survival, we could look back at other emotionally.
recessionary periods that had occurred since 1976. From

TouchSuite Wants

To Buy Your

Portfolios

We are one of the most active
portfolio buyers in the market

To receive a proposal,

please call our dedicated
team or email us at
acquisitions@touchsuite.com

| touchsuite.com
(844) 453-8422