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InsideGS

Empowering and connecting Enterprise selling in an
January 14, 2019 • Issue 19:01:01
today’s payments professionals By Dale S. Laszig Kingdom, Germany and Austria and 306 card-present
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
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-
and the customer experience. complex,
May 13, 2019 • Issue 19:05:01
present (CNP) SMBs in the United States, Canada, United
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
have introduced SMBs to a big-brand experience and new
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
mortar retailers aspire to truly innovate at the intersection
IVR systems
Independent research by global payments provider Paysafe
of payments and the in-store experience. In response,
Paysafe's sales discovery process has evolved from price
POS solutions.
Group found SMBs struggle with "competing priorities" in
and service discussions to needs assessment and solution
selling, he noted. Direct and indirect sales representatives
their efforts to balance frictionless checkouts with payment
security. Lost in Transaction: The future of payments for SMBs,
have been centering conversations with merchants about
security, data protection, business management tools and
that enable them to better their business," Rawls said. "By dual-tone multifrequencies (DTMF) to enable machines to
published by Paysafe in October 2018, found 54 percent
of ecommerce merchants surveyed believe frictionless
aggressively targeted by fraudsters.
Payment technology's evolution began when interactive
transactions, such as in-app payments, make them more
vulnerable to fraud. Seventy-six percent reported feeling
"The end goal is to help our customers implement solutions
voice response (IRV) systems and dial modems began to
replace phoned-in payment card authorizations. Like Morse
code, early touchtone phones linked numeric values with
By Dale S. Laszig
This is the first article in a two-part series that takes a
transmit credit card numbers. Over time, service providers
Contributed articles inside by:
deep dive into today's SMB market. It takes a deep dive
into evolving SMB environments and includes research
began to mask DTMF sounds to prevent criminals from
eavesdropping on sensitive payment card data.
findings and commentary by payments industry leaders
TOC on page 3 they serve. It's not always easy to differentiate between 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
Jeh Holsomback ...................................................................................20 deliver targeted
I it may seem incongruous to use
provider for call centers, uses advanced DTMF masking
in its flagship solution, Cardprotect. Gary E. Barnett, CEO
Nicholas Cucci ........................................................................................40
Steve Norell ............................................................................................34audiences. While
Martina Jeronski ...................................................................................36 machines to per-
at Semafone, noted that Cardprotect 4.0 is Payment Card
sonalize relationships, chat bots and digital assistants are
Industry Payment Application Data Security Standard
Bill Pirtle ...................................................................................................42
(P A-DSS) certified. "We are literally saving our payment
becoming adept at representing the people and companies
application partners valuable time and costs that would
otherwise have gone towards achieving the [P A-DSS]
machines and humans on the phone, email or online chat.
"Voice: payments' next integration," The Green Sheet's lead
Adam Hofman, product manager at CallRail, mentioned
Continued on page 31
article in issue 19:04:01, examined the expanding role of
voice technologies in payments. This article explores how
than they were ten years ago, which has helped reduce wait
that advanced speech recognition has enabled IVR systems
to recognize complex phrases. "These systems are smarter
sentient machines are transforming transactions from
expressions of our interests, personalities and lifestyles.
times while improving customer experience," he said.
simple clicks into complex, interactive and contextual
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
Insider's report on payments The biweekly pay cycle was built for a different economy ......29
The litigious nature of interchange ...........................................1 By Ram Palaniappan, EarnIn
By Patti Murphy
Earned wage access is helping workers improve financial stability
Disputes continue to grind through courts, legislatures and regula- by increasing flexibility, reducing reliance on credit and boosting
tory agencies as merchants challenge card brands and financial usable income beyond inflationary pressures.
institutions over network rules and so-called swipe fees. Why your ISO got passed over
News for capital – and how to fix it ............................................................30
By George Csahiouni, Tripoli Advisors
News Briefs:
ISOs seeking financing or acquisition opportunities may face lower
P2P lending market poised for rapid valuations if they lack the operational discipline, reporting and
growth as digital finance accelerates ......................................8 infrastructure institutional investors require.
Court rejects gas stations' bid to pursue Lessons financial institutions must
separate lawsuit against card brands .......................................8 learn from the Cloudflare outage ...................................................34
Colorado lawmakers pass interchange bill ............................8 By Fadl Mantash, Tribe Payments
Feds aim to tackle payments fraud ............................................9 As infrastructure outages grow more disruptive, financial institu-
tions must treat resilience, redundancy and failure planning as core
Community Bank Relief Act advances to full Senate ........9
operational disciplines rather than optional safeguards.
Industry Update ...............................................................................10 New Products
Insights and Expertise Recover more payments through self-service ...................37
Street Smarts Expand iGaming payments with crypto ...............................38
SM
How you can use AI to strengthen marketing Accelerate fraud defense with conversational AI ............39
and merchant engagement ........................................................14
By Jaki Kackert, Kackert Marketing Inspiration
AI-powered tools are helping ISOs and MLSs automate marketing Help merchant pivot when times get tough .....................40
tasks, improve merchant engagement and scale communications Departments
without significantly increasing overhead.
Letter From the Editor ......................................................................5
AI functions best with human assistance ............................17
By Ken Musante, Napa Payments and Consulting Spotlight Innovators ......................................................................19
DateBook ......................................................................................18, 36
As fraud and regulatory pressures intensify, risk managers increas- Resource Guide .................................................................................41
ingly rely on AI and human expertise together to strengthen mer-
chant monitoring and third-party oversight. Advertiser Index ...............................................................................46
The payment card evolves – from transaction
tool to trust anchor .........................................................................26
By Brent Bowen, Giesecke+Devrient
As digital fraud grows more sophisticated, debit and credit cards are
evolving beyond payment tools into trusted authentication devices
and foundational components of digital identity.
3