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The
Electronic Transactions Association (ETA) held its 2000 Midyear
Meeting and Exposition August 24-26 at the Hyatt Regency Chicago.
This was the association’s tenth year of hosting the event, which
included an exhibit hall as well as educational and training
sessions. If you weren’t
fortunate enough to attend this networking bonanza, never fear. The
Green Sheet was there and here’s your ETA snapshot. Registrat Upon arrival, we
received a Visa-logoed bag filled with promotional materials from Retriever, Bridgeview, NetFrontier Communications, NDC
eCommerce, General Credit Forms and NPC, among others. USWD
included a Hawaiian Lei to promote the debut of their new product
name for WEPS—Synapse and their trip to Hawaii giveaway. (The
winner was chosen by Miss Hawaii herself.) Of course, registrants
also received the latest issues of Credit
Card Management and The
Green Sheet. The bag also included
an attendee directory which was divided into two
sections—alphabetically by personal name and alphabetically by
company name. In an industry of literal “movers” and shakers,
this was key. Ours is a business where it is not uncommon for Bob to
be working for ABC Processing today and XYZ Bankcard tomorrow and no
one wonders “What did he do wrong?” The ETA was on the right
track with the dual-directory. Lively Reception The event officially
kicked off Thursday evening with a lively and well-attended
reception. It seemed that most of the approximately 1,600 registered
attendees were there. The event was scheduled to end at 9 PM but was
still going in full force at that time. The atmosphere was that of a
social event where people really
enjoyed one another’s company.
Our industry is fluid and while the titles and company associations
may change, the people and relationships remain. Opening Remarks Friday morning
started early. Booths opened at 7:30 AM and were surprisingly busy
when you consider the deal making that was going on late into
Thursday evening. Friday’s opening session was hosted by Pamela
Patsley, President of First Data Merchant Services. Patsley’s
presentation was titled “E-Commerce: Re-Shaping the Future of
Buying & Selling.” Patsley had what she called, “The
daunting task of talking to people who know this information.” Her
remarks were complimentary to ISOs, acquirers, and the ETA. She told
attendees, “You have done much for this industry.” Patsley continued,
“Our industry is in the midst of an evolution but some things
don’t change. We still have merchants, we still have consumers.”
She also pointed out that e-commerce is “the electronic exchange
of money for goods or services—we already do that!” Patsley put
the Web into perspective when she pointed out that Amazon.com’s
1999 yearly sales were equal to just one day’s sales (after
Thanksgiving) at Wal-Mart. Patsley’s remarks
focused on the fact that e-commerce is an evolution of what we’ve
always done. We are moving into mobile commerce, where anyone,
anywhere, can initiate payments, thanks to infrared devices, micro
payments, and phones as a payment device. She also pointed out that,
“Many e-tailers perceive the cost of transactions are too high.
That might drive them to look for alternate forms of payment rather
than the credit card.” Patsley touched on the future, stating that
“This group of attendees will lead merchants into the next payment
industry.” She posed some thought provoking questions, such as
“Who will be the acquirer’s competitors?” and “How will the
acquirer’s role change?” “The Internet is a
facilitator, a tool,” said Patsley. She further explained that
acquirers already have the infrastructure in place. They have the
knowledge, risk management experience, merchant set up skills,
pricing infrastructure, merchant relations, established customer
service, and feet on the street sales channel. “The Internet
should not just be viewed as a retail space. It should be viewed as
a tool to help us become more streamlined, Web-enable our services,
and serve our merchants better.” Patsley concluded with, “This
group is a dramatic driver in this industry. You will continue to
change the landscape of buying and selling.” General Session Friday’s general
session was presented by Stuart R. Bloom, Executive Vice President
and Principal of Carmody & Bloom, Inc. Bloom’s session, titled
“The Future of the Transaction Processing Industry” focused on
the acquiring business. Bloom pointed out that, “An absence of an
Internet strategy is a decision to relinquish market share.” In his presentation,
Bloom emphasized that acquirers legitimize, authenticate, and
facilitate payments. He also commented on the “process of
disintermediation” and how we need to change the shopping model.
Currently it is “person-specific” rather than
“space-specific.” Expanding on
Patsley’s presentation, Bloom commented, “It’s all commerce. .
. just commerce.” Bloom explained that we may have additional
delivery channels but it’s still just commerce and “It’s
important to integrate that thought into our plans.” Bloom concluded,
“Merchants sell stuff.” He pointed out that the Web, and various
plastic cards, help us sell stuff. “Our job is to enable merchants
to sell more stuff.” Well said. Educational Sessions The Friday
educational sessions were varied and worthwhile. They included
Chargeback Management, Bill Paying via Electronic Payments,
Capturing the Market on Recurring Payments, and a Basic Primer on
Electronic Commerce, among others. The Cross Border Payments session
was especially helpful and we were delighted to know that it began
by reading aloud a “Letter to the Editor” from The
Green Sheet. Watch your future
issues for articles about cross border payments rules and
regulations. Short but Worthwhile Saturday was a short
day but still well attended. Educational sessions included The
Wireless Revolution, Differentiating Your Products, Understanding
Alternative Payments, and Visa/MasterCard Rules. The Visa and
MasterCard acquirers’ rules session was beneficial and if it is
offered again, we recommend attending. Watch your future issues for
more information about the associations’ rules. The Midyear Meeting
ended with a presentation by Jack Trout, president of Trout &
Partners. Trout’s presentation, “Differentiate or Die: Survival in our Era of
Killer Competition” offered tips and insights on marketing, sales
positioning, and messaging. His analysis of brands and slogans
applied to all areas of marketing and were entertaining as well as
informative. He closed with some industry specific information and
insights, including the 10 myths of e-commerce. The highlight of the
meeting was a black-tie gala to celebrate the association’s tenth
anniversary. Approximately 500 people attended the event at the Four
Seasons and reports were that the cuisine and company were both
4-star. All in all, the ETA
2000 Midyear Meeting & Exposition was a worthwhile event and the
time and money spent by the ETA and their sponsors paid off. The
next ETA meeting will be March 8-10, 2001 in San Diego—mark your
calendars!
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