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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
and the customer experience.
Kingdom, Germany and Austria and 306 card-present
uoyed by reports of record 2018 holiday spend-
set of challenges.
attitudes about payment acceptance methods, innovation
ing, analysts predict more retail growth in 2019,
Conversational commerce:
particularly in the evolving small and midsize
B business (SMB) sector. Advanced technologies
have introduced SMBs to a big-brand experience and new
O. B. Rawls IV, chief commercial officer, payment processing
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.
Group found SMBs struggle with "competing priorities" in
and service discussions to needs assessment and solution
their efforts to balance frictionless checkouts with payment
security. Lost in Transaction: The future of payments for SMBs,
selling, he noted. Direct and indirect sales representatives
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
aggressively targeted by fraudsters.
of ecommerce merchants surveyed believe frictionless
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
eavesdropping on sensitive payment card data.
transmit credit card numbers. Over time, service providers
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
Semafone, a data security and compliance solution
messages to broadly distributed
provider for call centers, uses advanced DTMF masking
n a world where anyone anywhere can transact on
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
Martina Jeronski ...................................................................................36 machines to per-
at Semafone, noted that Cardprotect 4.0 is Payment Card
Nicholas Cucci ........................................................................................40
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
article in issue 19:04:01, examined the expanding role of
Adam Hofman, product manager at CallRail, mentioned
voice technologies in payments. This article explores how
than they were ten years ago, which has helped reduce wait
that advanced speech recognition has enabled IVR systems
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
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 Company Profile Continued on page 31
www.greensheet.com
Payments, a retrospective Swipesum:
The extraordinary life of a payment Earn trust, drive revenue with AI-powered platform .....23
transaction – a multilevel game ..................................................1
By Dale S. Laszig Education
Every payment transaction reverberates through a multitiered Street Smarts
SM
ecosystem as the payments industry rolls along, like a mighty river, Merchant underwriting in unprecedented times ............28
absorbing companies and shedding players.
By Nick Cucci, Fluid Pay LLC
News Payment companies conduct underwriting to determine whether a
potential merchant partner presents an acceptable amount of risk. It
News Briefs: must be done with due diligence.
Apple opens door, a crack, to PayPal .....................................10 Find, cultivate diamond-in-the-rough partners ...............30
New study exposes fraud’s false narratives ........................10 By Allen Kopelman, Nationwide Payment Systems
Deloitte predicts jolly holiday season ...................................10 The best partnership opportunities are not always readymade;
many untapped markets are diamonds in the rough that you can
Same-day processing a boon for the ACH ...........................11 transform into shiny treasures with a bit of grit and polish.
CFPB sets tone for U.S. open banking ...................................11 Navigating payment outages:
Industry Update ...............................................................................12 The crucial role of communication ..........................................33
By Gregg Aamoth, POPcodes
Views Payments increasingly rely on digital technology, and merchants
Payments, a retrospective depend on payment processing infrastructure. What happens that
Insider's report on payments infrastructure fails? Smart terminals offer a solution.
Fed plans debit cap haircut ........................................................16 New Product
By Patti Murphy, ProScribes Inc Scale with multilingual, cross-border B2B invoicing ....36
Debit card issuers may want to start bracing for the fallout from the
Federal Reserve Board's latest regulatory initiative: driving down Inspiration
debit interchange rates by better than 30 percent. Make the year-end holiday season shine ............................38
Economic uncertainty doesn't mean Departments
compromising cybersecurity .....................................................34
By Johan Gerber, Mastercard Letter From the Editor ......................................................................5
In an era when global economic shocks provide obstacles to re- Readers Speak:
sourcing cyber protection, faster innovation is needed to secure the Making optimal financial decisions ...........................................8
future for payment networks and the customers who use them. DateBook .............................................................................................20
Spotlight Innovators ......................................................................21
New + Tried and True = A Winning Strategy for You Resource Guide .................................................................................39
Advertiser Index ...............................................................................46
Reaching the right partners and customers requires a mix of
old and new approaches. Press releases are a peerless, proven
way to tell your company’s story while also delivering a sense
of urgency. Share your latest achievements for free on our
homepage multimedia hub. The payments community will News from the Wire::
Your Press Release
pay attention, and you’ll advance your brand.
Send your press releases to press@greensheet.com.
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