It's undeniable that crypto payments are moving from niche spheres toward everyday POS acceptance. Indeed, Visa reported that it processed $2.5 billion in cryptocurrency-based card payments during the first quarter of its 2022 fiscal year, which ended Dec. 31, 2021. And multiple crypto payments experts featured in this issue's lead article concur that crypto is here to stay. They also discuss various iterations of crypto payments likely to become commonplace within three to five years, and how getting up to speed on crypto payments can become a differentiator for ISOs and merchant level salespeople going forward.
Contributors to this issue also offer perspectives to help payments professionals stand out in the field. Sometimes, as one contributor noted, this involves knowing the right question to ask to pinpoint what merchants feel strongly about and how to use that to land sales. Others discuss the merits of the ETA's CPP designation and how to make use of it; why transparency can be advantageous to financial institutions and consumers, alike, and help deter additional regulations on an already highly regulated industry; survey findings that big banks outrank fintechs when it comes to customer service; why it's better in today's EMV card-present reality to stop focusing on fee income and help merchants with programs that make PCI validation easy; what technology licensing will look like in the time of Web 3.0, decentralization and the metaverse; and issues arising as Equifax implements plans to include BNPL data in its credit scoring process.
Our news stories cover even more ground. Stories highlighted herein include J.D. Power's findings that payment processors have stepped up their games during the past year, with big banks leading the way with huge gains in small business satisfaction; separate position papers from the ETA and The Payments Association that reflect growing interest in central bank digital currencies (CBDCs); a new alliance of financial institutions committed to net-zero emissions; a Nacha report indicating 2021 was a banner year for the ACH, with $73 trillion flowing across the network; The Federal Reserve's disclosing of preliminary pricing for its upcoming FedNow service; and a discussion paper from the Federal Reserve Board on CBDCs. You'll also find within these pages updates on recent industry appointments, partnerships, acquisitions and other milestones, along with new product and company profiles. We hope you're inspired by what you read. Please send your comments to firstname.lastname@example.org and your press releases to email@example.com.
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