Page 3 - GS240301

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
and the customer experience.
present (CNP) SMBs in the United States, Canada, United
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
SMBs in the United States and Canada. Respondents shared interactive, evolving
at Paysafe, said the research revealed that brick-and-
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
security, data protection, business management tools and
Contributed articles inside by: dual-tone multifrequencies (DTMF) to enable machines to
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
vulnerable to fraud. Seventy-six percent reported feeling
"The end goal is to help our customers implement solutions
replace phoned-in payment card authorizations. Like Morse
that enable them to better their business," Rawls said. "By
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
eavesdropping on sensitive payment card data.
into evolving SMB environments and includes research
began to mask DTMF sounds to prevent criminals from
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
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
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
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]
Continued on page 31
"Voice: payments' next integration," The Green Sheet's lead
Adam Hofman, product manager at CallRail, mentioned
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
www.greensheet.com
Cover Story Education Continued on page 31
Payments orchestration through the maestro's lens ........1 Street Smarts
SM
By Dale S. Laszig Friendly fraud, familiar fraud ....................................................28
By Nick Cucci, Fluid Pay LLC
Orchestration's central role in today's payments industry is undeni-
able. It enables one-to-many integrations; customer journey map- New fraud techniques are surfacing every day, which is contributing
ping; seamless, frictionless payments; creativity; and more. to a recent spike in friendly fraud that is negatively impacting busi-
News nesses. It is a must to know how friendly fraud works.
Legal ease:
News Briefs: Who owns this data? ......................................................................30
Durbin summons Visa, MC CEOs to Capitol Hill ................10 By Adam Atlas, Attorney at Law
IFR study highlights human, bot collaboration ................10 Payments data has great value. ISOs help create that data and are
well-positioned to capitalize on it, but there are legal issues to con-
Cap One, Discover join forces to rival Visa, Mastercard 10
sider in the hot field of data management.
New studies highlight fraud-fighting costs Merchant cash advance options – old and new ................32
strategies .............................................................................................10
By Chad Otar, Lending Valley
OCC aims to simplify MSB national One of the fastest ways to get funding for your business is to get
licensing requirements .................................................................10
a merchant cash advance. This article describes some of the top
Industry Update ...............................................................................12 merchant cash advance options available today.
Views POS, a primer .....................................................................................33
By Elie Y Katz, National Retail Solutions (NRS)
Insider's report on payments :
Making payments faster .............................................................18 A POS system combines hardware and software for sales transac-
By Patti Murphy, ProScribes Ink tions, serving as a central hub for sales, inventory and customer
management. This article is a primer to use as a sales tool.
When it comes to electronic payments, European nations typically
outpace the United States. Most recently, the EU passed new instant New Products
payments regulation. But the U.S. is advancing, too.
Beautifully packaged, all-inclusive
Delayed instant payments deployment may prove costly ......34 restaurant marketing ....................................................................36
By Dean Nolan, SRM Trusted platform speeds crypto
Delaying the implementation of instant payments until 2025 might exchanges, settlements ...............................................................37
seem like a low-risk, cost-control initiative, but that decision could Inspiration
backfire on banks and credit unions.
Let the AI smackdown begin ............................................................35 Leading teams to success ............................................................38
By Allen Kopelman, Nationwide Payment Systems Inc Departments
Our fears about AI gradually taking over and replacing us in the Letter From the Editor ......................................................................5
workforce and locking us out of our computer systems make for Readers Speak: What's ahead for payments after
great science fiction movies, but the reality is far more benign. the Capital One/Discover Deal? ...................................................8
Company Profile DateBook .............................................................................................20
Spotlight Innovators ......................................................................21
AU10TIX : Resource Guide .................................................................................39
Speed onboarding, reduce risk with
advanced protection ......................................................................23 Advertiser Index ...............................................................................46
3