There's no denying life brings us all surprises, many of them good, others gut wrenching. Amid chaos in some sectors of the world, it's a privilege to be doing business in the payments sphere, where ongoing technological innovation, messy at times but always dynamic, is leading the way toward digital solutions that are transforming the ways in which we transact and putting ever more powerful tools into the hands of entrepreneurs and ordinary citizens alike. This issue's lead article shares expert perspectives on the technologies underpinning commerce today and our multifaceted, communal journey toward digital transformation.
That journey is speeding up, too, and according to one expert contributing to this issue, digital transformation has become an imperative for business success this year. Other business imperatives detailed by our contributors are updated financial planning for every type of business to adjust to today's new normal; savvy employee recruitment and training, which requires an investment of time and resources; transparency in dealings with merchants especially if you aren't quite sure your offerings will meet their needs; and keeping abreast of merchant lobbying for legislation to further limit interchange fees.
We continue to report breaking industry news, and briefs highlighting a number of those stories cover Apple's soon to be available Tap to Pay on iPhone, which turns iPhones into payment-acceptance devices; Nacha's plans to phase in new guidelines to encourage usage and protect against errors and fraud as ACH adoption soars in B2B and B2C sectors; recent updates to EMVCo specifications to support new contactless authentication methods designed to enable merchants and consumers to securely transact on smartphones; recent research on the gift card market indicating gift card sales didn't take a hit because of the COVID-19 pandemic and continue to be on track for strong growth; and Payrix's new status as an FIS brand, which Payrix stated, is fulfilling its dream of becoming "a global leader in embedded payments" and was spurred by its year-over-year growth and SaaS acumen, which attracted FIS' attention.
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Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.
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