As this issue goes to press, Thanksgiving is a few days away in the United States, and the effort payment professionals have put in over the past months to help merchants prepare for this holiday season will be coming to fruition. In our complex industry where omnichannel shopping provides retailers, consumers and payment companies ‒ traditional players and disruptors ‒ more options than ever before, Black Friday and Cyber Monday are no longer the sole harbingers of what the coming weeks will bring. But there's still no denying the excitement in the air on the verge of the traditional holiday season kickoff.
Payment facilitators (payfacs) are playing a huge role in the changes affecting the industry during the holidays and throughout the year. They are creating entirely new business models for the payments biz. The lead article in this issue is the second in a two-part series that explores the evolution and impact of payfacs. Part 1 revealed how early payfac models set a higher bar for acquirers, with streamlined applications, fast approvals and automated boarding. Part 2 explains how traditional acquirers and merchant level salespeople can collaborate and compete in the new payments marketplace.
Payfacs also figure into our new product and company profile sections. Indeed, payfac-in-a-box is now a reality, and enterprising ISOs can become more like full-service acquirers than traditional sales offices.
Of course, this issue isn't only about payfacs. Contributing writers have shared wisdom on how to get adrenaline pumping and bring more passion to your business; the risks associated with products and services provided by third parties; the true value of mentors; and a new tradeshow model. News briefs highlight several of the stories we've posted recently, covering such topics as risks call centers face; holiday spending projections; the need to protect corporate sites before the holidays; the updated EMV 3-D Secure protocol and new secure remote commerce framework; proposed state legislation aimed to protect consumer data; the coming implementation deadline for PCI DSS 3.2; and the unveiling of Visa's global transit solutions in London.
A variety of briefs on milestones, awards, contract renewals, new partnerships and acquisitions, research, appointments, and more are included herein ‒ all with the aim of bringing you solid information to help you thrive in your career. Thank you for relying on us. Please continue to send press releases to firstname.lastname@example.org and send feedback to email@example.com.
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