Periodically, it appears to some payment pros that disruption is causing the sky to fall, and waves of worry make their way through the industry. However, the end has never come close for payments entrepreneurs. Indeed, each time major changes occur, industry veterans and new entrants alike find ways to adapt and thrive.
Today, with the industry garnering unprecedented attention and intrusion from other sectors, payments entrepreneurs are still succeeding. And this issue's lead article makes the case that merchant level salespeople (MLSs) have a hometown advantage because they can leverage their relationships with merchants before their competitors can drive a wedge between them. Several industry experts share perspectives on exactly how MLSs can do just that.
Also inside, contributing writers provide information on how ISOs and MLSs can remain relevant and useful, and therefore profitable, during times of disruption. From rebranding as technology sales professionals, to acquiring the right technology for your business, to being wary of hiring consultants who may sound savvy but can't sell a thing, to why it makes sense to be a conservative entrepreneur when evaluating potential opportunities, to learning to spot the telltale signs of transaction laundering, the advice provided herein is offered to help save you wasted steps along the payments road.
In the news, we've covered the rationale for Visa and PayPal's newer, cozier relationship; the Electronic Transactions Association's paper on how fintech is addressing the needs of the underserved; the new EMVCo-FIDO alliance initiative to strengthen and simplify mobile payment authentication; and advances in the cardless ATM realm that address EMV and security concerns. This is in addition to briefs about significant company and industry milestones such as the BBB's new program to help U.S. based companies comply with the new EU-US Privacy Shield Framework; the Electronic Payments Coalition's support for repeal of the Durbin Amendment; a minor dustup between the National ATM Council and the ATM Industry Association, and more.
We're also pleased to provide further perspectives from members of our advisory board on the state of mobile payments; a look at increased fraud in the mobile payment world; a report on U.S. retail sales in the first quarter of 2016; as well as new product, company and individual profiles. We appreciate all the news you send our way at firstname.lastname@example.org, and we look forward to more of your questions and suggestions at email@example.com.
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