Page 3 - GS230702

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-
present (CNP) SMBs in the United States, Canada, United
May 13, 2019 • Issue 19:05:01
complex,
and the customer experience.
Kingdom, Germany and Austria and 306 card-present
set of challenges.
attitudes about payment acceptance methods, innovation
uoyed by reports of record 2018 holiday spend-
ing, analysts predict more retail growth in 2019,
Conversational commerce:
particularly in the evolving small and midsize
O. B. Rawls IV, chief commercial officer, payment processing
B business (SMB) sector. Advanced technologies
have introduced SMBs to a big-brand experience and new
at Paysafe, said the research revealed that brick-and-
SMBs in the United States and Canada. Respondents shared interactive, evolving
mortar retailers aspire to truly innovate at the intersection
of payments and the in-store experience. In response,
IVR systems
Independent research by global payments provider Paysafe
Paysafe's sales discovery process has evolved from price
POS solutions.
and service discussions to needs assessment and solution
Group found SMBs struggle with "competing priorities" in
their efforts to balance frictionless checkouts with payment
selling, he noted. Direct and indirect sales representatives
security. Lost in Transaction: The future of payments for SMBs,
have been centering conversations with merchants about
published by Paysafe in October 2018, found 54 percent
Contributed articles inside by: dual-tone multifrequencies (DTMF) to enable machines to
security, data protection, business management tools and
of ecommerce merchants surveyed believe frictionless
aggressively targeted by fraudsters.
Payment technology's evolution began when interactive
transactions, such as in-app payments, make them more
voice response (IRV) systems and dial modems began to
vulnerable to fraud. Seventy-six percent reported feeling
"The end goal is to help our customers implement solutions
that enable them to better their business," Rawls said. "By
replace phoned-in payment card authorizations. Like Morse
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
began to mask DTMF sounds to prevent criminals from
eavesdropping on sensitive payment card data.
into evolving SMB environments and includes research
findings and commentary by payments industry leaders
TOC on page 3 machines and humans on the phone, email or online chat. certification themselves," he added.
innovating in the space. Part 2 will examine how merchant
any device, digital assistants help
Semafone, a data security and compliance solution
messages to broadly distributed
n a world where anyone anywhere can transact on
provider for call centers, uses advanced DTMF masking
I it may seem incongruous to use
Jeh Holsomback ...................................................................................20 deliver targeted
Steve Norell ............................................................................................34audiences. While
in its flagship solution, Cardprotect. Gary E. Barnett, CEO
Nicholas Cucci ........................................................................................40
Martina Jeronski ...................................................................................36 machines to per-
at Semafone, noted that Cardprotect 4.0 is Payment Card
Industry Payment Application Data Security Standard
Bill Pirtle ...................................................................................................42
sonalize relationships, chat bots and digital assistants are
(PA-DSS) certified. "We are literally saving our payment
becoming adept at representing the people and companies
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
Adam Hofman, product manager at CallRail, mentioned
Continued on page 31
article in issue 19:04:01, examined the expanding role of
than they were ten years ago, which has helped reduce wait
voice technologies in payments. This article explores how
that advanced speech recognition has enabled IVR systems
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? homes and connected workplaces. Will AIs respect our Contributed articles inside by:
The article also addresses concerns voiced by merchant
level salespeople and their customers about AI in smart
privacy and security and enhance productivity? Or will
TOC on page 3
they encroach on personal moments and take away our
Brandes Elitch ........................................................................................24
Dee and Emily Karawadra .................................................................33
Peter Spee ...............................................................................................36
Adam Atlas ..............................................................................................38
Cover Story Education Continued on page 31
www.g
Payments, a retrospective: Street Smarts reensheet.com
SM
The changing point of sale .............................................................1 Body language in business:
By Patti Murphy Part 2 – Reading and speaking .......................................28
By Nick Cucci, Fluid Pay LLC
The modern history of POS technology reflects a steady progression
from manual imprinters to electronic devices capable of handling Body language can help you drive a point home or reassure some-
various payment form factors, including wearables. one that you mean what you say. When used without awareness, it
News can have the opposite effect. So pay attention.
Managing disputes for real-time payments ..................30
News Briefs: By Dr. Jack T. Baldwin, BHMI
Mastercard, Visa, agree to debit card As the economy prepares to leapfrog into a new world of instant
routing choice – in Australia ......................................................10 payment methods, organizations can no longer rely on antiquated
Toast makes fee grab with new surcharge ..........................10 back-office systems primarily designed for batch processing.
Legal analysts praise New York's Treasury's Direct Express Card
updated fintech regs ......................................................................10 program saves Americans millions ........................................32
By Andrew Gillen, Mastercard
GTCR buys majority stake in Worldpay ..........................10
Check cashing businesses provide a way for the unbanked to
Studies show inflation’s impact convert paper checks into cash, but this service comes at a cost. The
on consumers, merchants ...............................................10
Direct Express prepaid debit card offers a low-cost alternative.
Industry Update ...............................................................................11 Tightening payment security in real-time with EDA ......34
Views By Mat Hobbis, Solace
The number of payment channels has grown exponentially, and
The very point of sale: settlement time has shrunk from days to minutes. And the more
Hospitality's magical commerce journey .............................14 channels, the more vulnerable the system becomes.
By Dale S. Laszig New Products
HITEC Toronto was a hive of tech, from guest-room towel tracking Develop, certify, deploy payments
systems to in-room entertainment and self-attended check-ins. apps in record time ........................................................................36
Solutions reflected technology's proliferating role.
Accelerate trust worldwide with
How low can merchant services go? .......................................18 advanced ID verification ..............................................................37
By Allen Kopelman, Nationwide Payment Systems
Inspiration
Some desperate agents have gone from giving merchants a deal of
a lifetime to paying them to take deals off their hands. It's time to Payments, a retrospective:
sound the alarm about this new race to the bottom. Our amazing, evolving technology ........................................38
Company Profile Departments
FlexCharge: Letter From the Editor ......................................................................5
Instantly turn ecommerce declines into approvals ........23 Readers Speak:
The emotional weight of debt ......................................................8
Spotlight Innovators ......................................................................20
Resource Guide .................................................................................39
Advertiser Index ...............................................................................46
3