Who cares most about real-time payments, the distinctions between real-time and faster payments, and whether new options such as RTP and FedNow will replace legacy card payment schemes? It's not consumers. They aren't concerned with how long it takes funds to be deposited in a merchant's account after they've completed a purchase. And from a P2P perspective, consumers' Venmo and Zelle transactions look instantaneous.
But that's OK, because real-time payment schemes do far more than facilitate lightning-speed payments for buyers and sellers. They also provide a wealth of real-time information to merchants and acquirers that can improve security, control, efficiency and transparency. This issue's lead article discusses all of this in detail, sharing telling research and perspectives from leading experts in the developing realm of real-time and faster payments.
You'll also find herein a primer on merchant cash advance, a vital sector that continues to evolve to better serve a diverse market in need of capital; the story of a new merchant level salesperson's journey in payments and the benefits to ISOs of grooming agents new to the industry; the opportunity awaiting small and midsize merchants in the global market for distinctive, high-value goods sold online; and the rationale for why SMB service providers should think and act more like large enterprises.
And while not every day brings us a momentous news story, our dynamic realm does produce more news of note than so many other sectors. Stories highlighted in News Briefs include a ruling in favor of USAA in a lawsuit filed against Wells Fargo & Co. over USAA's patented remote deposit capture technology; unsettling trends found in security breaches; New York City's affirmation of consumers' right to pay with cash at stores and restaurants; Worldline's acquisition of Ingenico, creating one of the largest payment services providers in Europe; and the Northeast Acquirers Association's 35th annual show, the first in the year's regional acquirers' circuit.
The updates included run the gamut from significant investments to awards for creating an excellent work environment, from reports on underserved consumers to predictions on 5G's coming impact on sports betting, and from partnerships to improve security and efficiency to appointments to expand acquiring relationships and break new ground in lending.
Remember, we are here to empower you and connect you with key people and resources in payments. Tell us how we can help at firstname.lastname@example.org.
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