Page 3 - GS250101

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
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
SMBs in the United States and Canada. Respondents shared interactive, evolving
at Paysafe, said the research revealed that brick-and-
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,
Paysafe's sales discovery process has evolved from price
Independent research by global payments provider Paysafe
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
published by Paysafe in October 2018, found 54 percent
Contributed articles inside by: transmit credit card numbers. Over time, service providers
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
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
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
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
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
messages to broadly distributed
Semafone, a data security and compliance solution
n a world where anyone anywhere can transact on
Jeh Holsomback ...................................................................................20 deliver targeted
provider for call centers, uses advanced DTMF masking
I it may seem incongruous to use
in its flagship solution, Cardprotect. Gary E. Barnett, CEO
Steve Norell ............................................................................................34audiences. While
Nicholas Cucci ........................................................................................40
at Semafone, noted that Cardprotect 4.0 is Payment Card
Martina Jeronski ...................................................................................36 machines to per-
Bill Pirtle ...................................................................................................42
sonalize relationships, chat bots and digital assistants are
Industry Payment Application Data Security Standard
(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
Continued on page 31
article in issue 19:04:01, examined the expanding role of
Adam Hofman, product manager at CallRail, mentioned
times while improving customer experience," he said.
that advanced speech recognition has enabled IVR systems
voice technologies in payments. This article explores how
to recognize complex phrases. "These systems are smarter
sentient machines are transforming transactions from
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
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 Insights and Expertise Continued on page 31
www.greensheet.com
Year in review 2024, Part 2 – Change Why companies are rethinking
continues to define merchant services ....................................1 the payments back-office ............................................................26
By Patti Murphy By Casey Scheer, BHMI
This article examines key challenges and strategies that shaped the Modernizing the payments back-office is essential for financial
payments industry in 2024, amid regulatory shifts, AI advancements institutions to reduce costs, enhance agility, and stay competitive in
and other significant developments. an era of rapid innovation and rising expectations.
News AI and automation in retail payments ..................................28
By Dwaine Thomas, PXP Financial
The Green Sheet transitions
to digital-only publication .............................................................8 AI and automation are enhancing personalization, optimizing pay-
ments, streamlining operations, and improving security. Merchants
News Briefs: who embrace these technologies will gain a competitive edge.
CFPB singles out Google Pay for closer scrutiny ..............10 Effective payments testing:
Founders' Roundtable: DIY versus getting the experts in ............................................30
What's in store for Fintech in 2025 ..........................................10 By Anthony Walton, Iliad Solutions
Visa gets real about faster payments .............................10 DIY payment testing may seem cost-effective, but errors can cause
severe losses. Outside specialists offer multiple benefits that boost
CFPB sues Zelle, banks over widespread fraud .............10
reliability and competitive advantage.
Visa using AI to stop fraudsters in their tracks..................10
New Products
Industry Update ...............................................................................11
Detect fraud in real time with absolute accuracy ............32
Insights and Expertise New flexibility with product breakdown, ID scanning ..32
Street Smarts Inspiration
SM
Steer clear of the race to subzero ...........................................14
By Allen Kopelman, Nationwide Payment Systems Inc. Embracing the power of fresh starts in payments .........35
Unscrupulous practices undermine the payments industry. We need Departments
ethical standards, transparency and accountability to restore trust Letter From the Editor ......................................................................5
and protect our merchants and ourselves. Spotlight Innovators ......................................................................20
Visa acquiring monitoring program .......................................16 DateBook .............................................................................................34
By Ken Musante, Napa Payments and Consulting Resource Guide .................................................................................36
Visa’s VAMP program monitors smaller acquirers' CNP portfolios, en- Advertiser Index ...............................................................................40
forcing fraud and dispute thresholds with fees. Compliance ensures
integrity and supports small bank participation.
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.
3