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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-
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
Paysafe's sales discovery process has evolved from price
POS solutions.
Group found SMBs struggle with "competing priorities" in
and service discussions to needs assessment and solution
selling, he noted. Direct and indirect sales representatives
their efforts to balance frictionless checkouts with payment
security. Lost in Transaction: The future of payments for SMBs,
published by Paysafe in October 2018, found 54 percent
have been centering conversations with merchants about
security, data protection, business management tools and
Contributed articles inside by: dual-tone multifrequencies (DTMF) to enable machines to
of ecommerce merchants surveyed believe frictionless
aggressively targeted by fraudsters.
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
n a world where anyone anywhere can transact on
Semafone, a data security and compliance solution
messages to broadly distributed
provider for call centers, uses advanced DTMF masking
Jeh Holsomback ...................................................................................20 deliver targeted
I it may seem incongruous to use
in its flagship solution, Cardprotect. Gary E. Barnett, CEO
Steve Norell ............................................................................................34audiences. While
at Semafone, noted that Cardprotect 4.0 is Payment Card
Nicholas Cucci ........................................................................................40
Bill Pirtle ...................................................................................................42
Martina Jeronski ...................................................................................36 machines to per-
sonalize relationships, chat bots and digital assistants are
Industry Payment Application Data Security Standard
becoming adept at representing the people and companies
(PA-DSS) certified. "We are literally saving our payment
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
article in issue 19:04:01, examined the expanding role of
Adam Hofman, product manager at CallRail, mentioned
Continued on page 31
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
times while improving customer experience," he said.
simple clicks into complex, interactive and contextual
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
privacy and security and enhance productivity? Or will
TOC on page 3 Continued on page 31
Brandes Elitch ........................................................................................24
Dee and Emily Karawadra .................................................................33
Peter Spee ...............................................................................................36
Adam Atlas ..............................................................................................38
www.greensheet.com
Cover Story Company Profile
Blockchain, cryptocurrency moving into mainstream .....1 AstroPay:
By Patti Murphy Expand global reach with secure
Cryptocurrency is gaining adoption in the marketplace. This first multicurrency platform ................................................................23
article of a two-part series provides an overview of cryptocur- Education
rency, blockchain technology and crypto payments.
Street Smarts
SM
News Take care of yourself first .............................................................28
By Jeff Fortney, The Strawhecker Group
News Briefs:
It's essential to look inward regularly to review key areas that, if
ETA sets 2022 policy priorities ..................................................10 left unexamined, can result in diminished sales results. And at the
Amended CARES Act helps struggling SMBs .....................10 root of this effort is self-care.
Equifax's BNPL credit scoring a potential win-win ..........10 Maximizing COVID relief funds for small businesses .....30
US retailers seek congressional By Tyler Kem, Strike Tax Advisory
action on interchange ...................................................................10 To gain maximum benefit from the Paycheck Protection Program
and Employee Retention Tax Credit, small business owners need
Industry Update ...............................................................................14
to understand how the two programs can work together.
Views
Buy now, pay later is in the CFPB's crosshairs ...................32
Potential MCA regs could change By David Haber, Global Legal Law Firm
the industry forever .......................................................................15 Concerned about debt accumulation, data harvesting and regula-
By Chad Otar, Lending Valley tory arbitrage, the CFPB ordered five companies offering BNPL to
Regulations are likely on the horizon for the merchant cash ad- collect information about their risks and benefits.
vance industry, with New York and California leading the way. Will
this mean a major shakeup in 2022? New Products
World class pay-at-table for any restaurant POS ............35
The very point of sale:
A transformative time in payments ........................................18 Sell plastic, digital gift cards directly
By Dale S. Laszig, DSL Direct LLC from merchant sites ......................................................................36
Judging from an array of mergers and acquisitions, new product Inspiration
entries and record-shattering holiday spend in 2021, it looks like Sweep the doldrums away ..........................................................37
January 2022 was a transformative month in payments.
Departments
A win-win: Earning revenue
through customer success...........................................................33 Letter From the Editor ......................................................................5
By Duleepa Karunaratne, Applova Readers Speak:
Why use bitcoin? .................................................................................8
While a company’s sales team is valued as its revenue-generating Spotlight Innovators ......................................................................20
unit, an often overlooked and undervalued department is cus-
tomer success, which focuses on customer training and retention. Resource Guide .................................................................................39
Advertiser Index ...............................................................................46
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