Page 1 - GS250302

March 2025 • Issue 25:03:02

Secrets of payments industry

resilience – Part 1

Benjamin Abel
BAMS
We've all heard the phrase necessity is the mother of inven-
tion, and I think merchant services is a perfect example of
that in action. Our industry sits at the intersection of com-
merce, technology and regulation—three forces that never
stop evolving. Pair that with fierce competition among
ISOs, MLSs, and other key players in the payments ecosys-
tem, and you have an industry that must always stay dy-
namic, adaptable and looking one step ahead.

When you ask why we are so good at this it's because we've
had no choice. Unlike some industries that can afford to
resist change, we don't have that luxury; every shift in con-
sumer expectations, security threats and regulatory land-
scapes has pushed us to innovate or risk falling behind.
Those who were not able to respond quickly became ob-
solete.
hrough the years, the payments industry has
faced numerous curve balls—recessions, dis-
ruptive startups and technologies, data breach-
T es, major lawsuits, and onerous legislation, for
example. Every time, we've collectively risen to the chal- Contributed articles inside by:
lenges to not merely stay afloat but to adapt, innovate and
thrive.
Allen Kopelman .....................................................................................16
With this in mind, we asked members of The Green Sheet Mark Dillon ............................................................................................26
Advisory Board: Why are we so good at this? And what
plans should payments enterprises have in place to sur- Jaki Kackert .............................................................................................28
mount curve balls we might face in the next 12 months? Kapil Pershad .........................................................................................29

Following is a portion of the responses we received. Ad- Elie Y. Katz ...............................................................................................30
ditional perspectives will appear in an upcoming issue. Robert Kraal ............................................................................................31
Thank you to all experts who participated in this discus-
sion.

Continued on page 21