With the 1982 publication of John Naisbitt's blockbuster book Megatrends: Ten New Directions Transforming Our Lives, the then recently coined term "megatrends" became a mainstay in the American lexicon, where it has remained to this day. Spotting and analyzing such trends in an effort to prepare and capitalize on their power is ongoing in many fields of endeavor from the social sciences to government to businesses of all types, including, of course, payments.
This issue's lead article takes a deep dive into eight consumer megatrends that researchers believe are primed to shape global innovation and commerce in the next decade and beyond. From the way people research products and shop for them, to what kind of interactions they favor, to shifting priorities and lifestyles, this article pinpoints essential shifts likely to affect payments in many ways ‒ from the questions merchant level salespeople (MLSs) ask prospects to the types of products and services payment technology providers develop and promote.
Speaking of MLSs, asking the right questions is one part of successful interactions with merchants, but as one industry expert explained in an article featured herein, active listening is also required. Other contributing writers shared insights on the importance of knowing what types of challenges keep today's small business owners up at night; easy ways to take extra care of your best customers; changes in the portfolio acquisition landscape that make it a wise move to reassess ISO/MLS contracts to account for valuation variance; and the impacts of the DOJ's shift toward prosecuting cannabis-related businesses in states where its use for recreational and/or medicinal use is both legal and regulated. Highlights from the news covered include Western Union's forfeit of $60 million to the New York Department of Financial Services; a recap from the National Retail Federation's 107th annual convention; a RAM-scraper attack at Jason's Deli locations; Lighthouse's (commonly known as Harbortouch) acquisition of Shift4 and assumption of the Shift4 name; the ETA-IDC study of payment trends for 2018; and the new PCI standard for PIN entry on commercial off-the-shelf devices.
You'll also find herein plenty of inspiration in new product and company profiles, as well as in updates on individual and company milestones of note, compelling research, new partnerships and acquisitions, and key appointments. Please send us your feedback to firstname.lastname@example.org, and your press releases to email@example.com. We look forward to hearing from you. .
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