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Education

Therefore, the opportunity in payments application ISO 3.0
development is to satisfy the ever-lasting need for credit,
but in the new worlds. Take, for example, the Axie Death of the ISO has been declared many times over the
Infinity game (https://axieinfinity.com), a game through past couple decades. While the barrier to entry for ISOs
which successful players are compensated. There is a has risen due to the need for technological capacity, keep
cost, however, to start playing the game. Investors have in mind that acquiring banks need someone to help their
started a business of lending money to people who need cards be accepted in the metaverse. Who better than
money to start playing the game. This is but one example ISOs? Acquiring banks are a necessary appendage to
of the ancient concept of credit applied to an entirely new issuing banks, and issuing banks are eternally necessary
business—playing an online game for profit. suppliers of credit. If acquiring banks don't push ISOs into
the metaverse, merchants will pull them in.
An application to connect the dots between lenders (old
and new) and borrowers in the new metaverse is a no- One lesson learned observing payments technology
brainer application waiting to be developed. developers is that many of them are not developers
themselves. You don't have to be a coder to be a developer.
Security threats in digital realms In fact, a lot of coders are not much use in designing ideal
commercial applications for their talents. Coming out
Once upon a time, a payments provider simply had of an ISO business experience, you can hire coders and
to secure cardholder data. Now that merchants in the conquer the world.
metaverse will be operating in an entirely digital realm,
the opportunities for impersonation, account compromise, In publishing The Green Sheet, neither the author nor the publisher
scams, phishing and all manner of wrongdoing are is engaged in rendering legal, accounting or other professional
multiplied. Applications that bring assurances as to services. If legal advice or other expert assistance is required, the
security will likely be prized. services of a competent professional should be sought. For further
information on this article, please contact Adam Atlas, Attorney at
Law via email at atlas@adamatlas.com or by phone at 514-842-0886.

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