Solid merchant retention has long been considered by many to be the payments industry's ultimate quest. It is critical to maintaining a profitable acquiring organization, yet it remains elusive. Encroachment on the part of traditional competitors, some of whom run fast and loose with the facts to rip merchants from your fold, has always been and remains an ongoing challenge. Add to that new technology without which you can quickly lose your edge, combined with initiatives introduced by new entrants approaching merchant services from entirely new perspectives, and the challenge of limiting merchant attrition grows even more formidable.
However, it's unwise to underestimate the ingenuity of the payments community. Payment pros of all stripes are devising new strategies and practices that do more than keep them in the game. They've harnessed data, partnered with independent software vendors, launched innovative solutions that strengthen their operations and boosted their bottom lines. This issue's lead article delves into current merchant-retention issues and how savvy payment professionals are taking advantage of available tools to address and solve them.
Another kind of challenge many ISOs face is how to run a business when family members are involved. Legal issues that arise in family-run payment businesses are addressed by one of our esteemed contributing writers herein. Other topics they've tackled include how and why merchants should take charge of their digital storefronts and control how they are perceived online; what's fair and what isn't when it comes to increasing merchant fees; steps to take when you realize your mind isn't focused clearly on your business goals; and the tenacity and usefulness of old technology.
News stories highlighted inside cover flaws in the proposed federal data breach bill identified by the National Retail Federation; the central role of the midmarket in driving global cybersecurity spending; continuing detrimental effects of Operation Choke Point, despite claims it has been abandoned; a new NACHA program to support B2B invoicing; Amazon's interest in banking-as-a-service; and support gained for instant financing.
No issue would be complete without news of milestones that have occurred recently in the payments sphere. We've mentioned new developments, awards, research, partnerships, appointments and more. Additional announcements are available online under News from the Wire on our home page, www.greensheet.com. To get your news posted, send a press release to press@greensheet.com. And, as always, we will welcome your comments at greensheet@greensheet.com. 
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.
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