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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-
May 13, 2019 • Issue 19:05:01
present (CNP) SMBs in the United States, Canada, United
complex,
and the customer experience.
Kingdom, Germany and Austria and 306 card-present
uoyed by reports of record 2018 holiday spend-
attitudes about payment acceptance methods, innovation
set of challenges.
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
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.
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
Contributed articles inside by: dual-tone multifrequencies (DTMF) to enable machines to
security, data protection, business management tools and
published by Paysafe in October 2018, found 54 percent
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
voice response (IRV) systems and dial modems began to
"The end goal is to help our customers implement solutions
vulnerable to fraud. Seventy-six percent reported feeling
that enable them to better their business," Rawls said. "By
replace phoned-in payment card authorizations. Like Morse
By Dale S. Laszig
code, early touchtone phones linked numeric values with
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.
began to mask DTMF sounds to prevent criminals from
into evolving SMB environments and includes research
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
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
at Semafone, noted that Cardprotect 4.0 is Payment Card
Martina Jeronski ...................................................................................36 machines to per-
Industry Payment Application Data Security Standard
Bill Pirtle ...................................................................................................42
sonalize relationships, chat bots and digital assistants are
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
Continued on page 31
Adam Hofman, product manager at CallRail, mentioned
article in issue 19:04:01, examined the expanding role of
that advanced speech recognition has enabled IVR systems
voice technologies in payments. This article explores how
than they were ten years ago, which has helped reduce wait
to recognize complex phrases. "These systems are smarter
sentient machines are transforming transactions from
simple clicks into complex, interactive and contextual
times while improving customer experience," he said.
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
TOC on page 3
privacy and security and enhance productivity? Or will
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 Company Profile Continued on page 31
www.greensheet.com
Payments, a retrospective: Utopaya:
The extraordinary life of a payment Demystify, monetize embedded payments ........................23
transaction – Security checkpoints............................................1 Education
By Dale S. Laszig
SM
In the industry's early days, merchant and consumer behaviors were Street Smarts
as fixed as countertop terminals. Now, interactions along the pay- Interview with confidence ...........................................................28
ments value chain are complex and changing. By Nick Cucci, Fluid Pay LLC
News Unless you are one of the few people who naturally excel at inter-
views, there is a good chance that you get nervous before being
News Briefs: interviewed. Don’t worry; you are completely normal.
PayPal stablecoin faces headwinds ........................................10 Payments, a retrospective:
Digital twin deployments surge One professional's journey – Part 1 ........................................30
in BFSI sector, study finds ............................................................10 By Ken Musante, Napa Payments and Consulting
Moody's: FedNow won't cannibalize debit card use ......10 Merchants used to check the thick Warning Bulletin for flagged card
Proven cross-border brands find tough love in USA ......10 numbers, manually imprint transactions and physically haul paper
receipts to the bank. We've come a long way.
MPC23 embraces unified commerce theme .......................10
Intermediary account versus direct
Industry Update ...............................................................................11 debit in accounts payable ...........................................................32
Views By Jill Rosenthal, MineralTree
Some AP automation solutions use intermediary bank accounts to
Insider's report on payments: make supplier payments; others use direct debit. Each option will
Old payment methods don't die, they coexist ..................16 impact timelines, supplier relationships and cash flow.
By Patti Murphy New Product
Despite the spike in contactless and mobile payments during the
pandemic, Americans wrote 12 billion checks in 2021, an indication Stay ahead of global regulations
that old payment methods don't die—they move over. with real-time compliance ...............................................36
Navigating dual pricing with Inspiration
technology-driven strategies ....................................................18 Payments: a retrospective
By Gregg Aamoth, POPcodes Racing to the top..............................................................................38
Guidelines for cash discounts and surcharging have become a sub- Departments
ject of intense debate within the industry and government bodies. Letter From the Editor ......................................................................5
Technology-driven strategies offer clarification.
Readers Speak:
AI versus AI in the battle against credit card fraud .........20 Navigating hybrid work environments ...................................8
By Elie Y Katz, National Retail Solutions Spotlight Innovators ......................................................................20
AI has revolutionized many industries; with that came a rise in Resource Guide .................................................................................39
AI-powered fraud. This is especially true in credit card processing, Advertiser Index ...............................................................................46
where fraudsters use AI as a tool to deceive.
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