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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
complex,
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
Conversational commerce:
ing, analysts predict more retail growth in 2019,
particularly in the evolving small and midsize
B business (SMB) sector. Advanced technologies
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
have introduced SMBs to a big-brand experience and new
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
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: transmit credit card numbers. Over time, service providers
published by Paysafe in October 2018, found 54 percent
security, data protection, business management tools and
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
"The end goal is to help our customers implement solutions
voice response (IRV) systems and dial modems began to
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
dual-tone multifrequencies (DTMF) to enable machines to
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
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
I it may seem incongruous to use
provider for call centers, uses advanced DTMF masking
Jeh Holsomback ...................................................................................20 deliver targeted
Steve Norell ............................................................................................34audiences. While
in its flagship solution, Cardprotect. Gary E. Barnett, CEO
at Semafone, noted that Cardprotect 4.0 is Payment Card
Nicholas Cucci ........................................................................................40
Bill Pirtle ...................................................................................................42
Martina Jeronski ...................................................................................36 machines to per-
Industry Payment Application Data Security Standard
sonalize relationships, chat bots and digital assistants are
(PA-DSS) certified. "We are literally saving our payment
application partners valuable time and costs that would
becoming adept at representing the people and companies
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
times while improving customer experience," he said.
voice technologies in payments. This article explores how
sentient machines are transforming transactions from
to recognize complex phrases. "These systems are smarter
simple clicks into complex, interactive and contextual
than they were ten years ago, which has helped reduce wait
expressions of our interests, personalities and lifestyles.
jobs? privacy and security and enhance productivity? Or will Contributed articles inside by:
The article also addresses concerns voiced by merchant
level salespeople and their customers about AI in smart
homes and connected workplaces. Will AIs respect our
TOC on page 3 Continued on page 31
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 Insights and Expertise
Instant payments: Are we there yet? ........................................1 Overcoming legacy systems debt
By Patti Murphy in the payments back office ........................................................26
By Cheryl Fitzgarrald, BHMI
Getting U.S. FIs to adopt new, faster, better ways to facilitate pay-
ments is like turning around a giant ocean liner. It will get done, Many payments businesses have tried to keep pace with the rapid
eventually. But it requires a lot of behind the scenes work. changes in the industry by adding patches to their legacy back-
News office systems. This has delayed the inevitable.
M&A in payments: Selling a
News Briefs: residuals book of business ..............................................28
CFPB eyes POS cash-back fees .....................................................8 By Leo Arzumanyan, Global Legal Law Firm
Researchers ID digital wallet vulnerabilities ........................8 Selling a residuals book of business in the electronic payments
industry is a multifaceted process that requires careful planning,
PayPal wants to be everywhere consumers shop ...............8
expert advice and a clear understanding of the market.
Juniper Research predicts 209% New Products
increase in A2A payment by 2029 ..............................................8
Industry Update ...............................................................................12 New PXP Partner Portal
upgrades partner experience ....................................................30
Insights and Expertise
Real-time payments for closed-loop digital wallets .......31
Street Smarts Inspiration
SM
Repel fraud with grit, due diligence ......................................16
By Allen Kopelman, Nationwide Payment Systems Inc. 7 steps for hosting a dynamic DIY tradeshow ..................32
As MLSs, we need to fully vet prospective merchants and avoid con- Departments
tributing to a growing number of fraudulent applications submitted Letter From the Editor ......................................................................5
every day to ISOs, processors and tech providers.
Spotlight Innovators ......................................................................18
Legal ease DateBook .............................................................................................29
Payment processing family tree: Resource Guide .................................................................................34
A glossary of participants ...........................................................24
By Adam Atlas , Attorney at Law Advertiser Index ...............................................................................38
To communicate well in the payments and fintech sphere, it's useful
to understand several key players in acquiring and payment pro-
cessing, along with some industry jargon.
New + Tried and True = A Winning Strategy for You
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::
pay attention, and you’ll advance your brand. Your Press Release
Send your press releases to press@greensheet.com.
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