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October 25, 2021 • Issue 21:10:02

Changing payments landscape

brought about by COVID

The message for acquirers and their sales partners, Crone
said, is that offering point solutions, like terminals, is not
going to cut it anymore. "An ISO has to offer integrated so-
lutions," he said.

For example, order ahead purchasing, for in-store or curb-
side pickup, really took hold during the pandemic, and
that brought about more ecommerce-based payments that
looked a lot like in-person transactions, Crone explained.
"The blending of the two really magnified the need for in-
tegration," he said.

Industry-specific offerings, like the restaurant POS and
management system Toast, and payment facilitators, like
PayPal, understand this, Crone noted. Earlier this year,
PayPal introduced PayPal Zettle, an integrated POS solu-
tion that was largely seen as a competitive swipe at Square.
But it really does more than that, Crone said.
By Patti Murphy
PayPal Zettle has been described by the company as sup-
he COVID-19 pandemic has breathed new life porting a range of payment options, including loans, for
into business models and processes that had in-person and online sales, as well as interoperability with
seemingly languished for years, in some cases ecommerce and accounting solutions. "Consumers want
T moving the adoption needle by as much as 10 seamless and integrated digital experiences no matter
years, according to the consultancy McKinsey & Co. where they shop," PayPal Senior Vice President Jim Magats
said.
Options like contactless, buy now pay later (BNPL), and
ecommerce have all soared. "None of this is going away
if and when we ever get a handle on the pandemic," said
Richard Crone, founder of Crone Consulting. Contributed articles inside by:

"As the world prepares to emerge from the pandemic, our Jeff Fortney .............................................................................................28
collective experience over the past year has imprinted on Elaina Smith ............................................................................................30
us all and will affect how we behave and respond going
forward," is how the consultancy AlixPartners put it in a Chad Otar ................................................................................................32
recent report. According to that report, "half of all global Michael Ault ...........................................................................................33
consumers say their spending habits have changed perma-
nently due to the pandemic." TOC on page 3

Continued on page 26