Page 17 - GS230102_flipbook

View

methods," FreedomPay researchers wrote. "Merchants fickle and fast-moving. And so today, merchants must
have the power to streamline this process with an focus on driving more of an experience for customers,
agnostic, scalable, open-loop solution that integrates with thus beginning data-driven conversations."
any banks, payment providers, and Points of Sale."
Cost of doing nothing
Hyper-personalization
Acknowledging rising costs' and inflation's impact on
The static nature of legacy systems was arguably their merchants, FreedomPay maintains investing in technology,
greatest design flaw. Absent from dynamic political, even during an economic downturn, is paramount for
economic, social, technological, environmental and attracting customers and growing a business. "The short-
legal forces, these rugged old machines might have term financial commitment to updating legacy systems can
gone on processing payments forever. But we've evolved increase merchants' medium to long term ROI by allowing
considerably since the 1990s. In our quest to make merchants to compete effectively and grow customer
technology look and feel more like us, we've taken loyalty through personalization and convenience," they
payments to what FreedomPay calls Next Level Commerce. wrote.
This hyper-connected, hyper-personalized world offers
new ways for humans, machines and brands to connect These issues were further explored in a panel I moderated
and transact. at NRF 2023, with payments industry leaders Chris
Kronenthal, president of FreedomPay; Belinda Harris,
Paul Snelling, director, platform solutions at FreedomPay, vice president, retail development for Spectrum Stores;
urged merchants to tailor products and services to each Ben Love, CEO, North America at Castles Technology;
customer in a June 13, 2022, blog post titled, "Power of and Craig Witsoe, CEO for Elo. Our roundtable was live-
Personalization – Next Level Commerce." streamed from FreedomPay's booth on LinkedIn, Twitter
and YouTube and is available on demand.
"To reach that 'Next Level', businesses must be prepared to Dale S. Laszig, senior staff writer at The Green Sheet and managing
adopt and adapt to a rapidly evolving commerce landscape
in which you don't see customers as a whole entity but director at DSL Direct LLC, is a payments industry journalist and content
very much an individual in his or her own right," he wrote. strategist. Connect via email dale@dsldirectllc.com, LinkedIn www.
"The individual customer has become a target which is linkedin.com/in/dalelaszig/ and Twitter https://twitter.com/DSLdirect.