As we transition from one year to another, many of us are brushing up our goals for the coming months and setting new ones—some modest, others big and bold, some purely aspirational. Meanwhile, the industry is continuing its rapid evolution, and payments experts are in the catbird seat, perfectly positioned to assess the current moment and anticipate what is in store.
Some of those experts share their views in this issue's lead article. From discussing the evolution from a one-size-fits-all model to highly personalized experiential products that adhere to individual users' preferences, to the continued growth in contactless payments, to massive regulatory changes, particularly regarding third-party service providers, generative AI and geo-political impacts on cross-border payments, these industry leaders shed light on what real challenges and opportunities are emerging.
Also shedding light on doing business in the payments sphere this year, our contributing writers discuss legal strategies for ISOs amid today's enchantment with and growing use of AI; why it's imperative to pick the right payment gateway partner and how to do that; practical, effective strategies merchants can use to enhance their security during dark winter nights; and the possibility that we're in an AI bubble, which isn't necessarily a bad thing.
Breaking news stories highlighted herein include the Biden Administration's crack down on "junk fees," which generate over $64 billion annually, and the FTC and CFPB's proposed rules targeting fees identified as deceptive, including credit card surcharges; Elon Musk's aim to transform X, formerly Twitter, into a comprehensive financial hub, encompassing financial transactions beyond payments to realize his vision of X as the center of Americans' financial lives, encompassing money, securities and more; the J.D. Power 2023 U.S. Small Business Credit Card Satisfaction Study, which revealed that rewards programs play a pivotal role in small business customer satisfaction with credit cards; the bipartisan Close the Shadow Banking Loophole Act introduced in the Senate to regulate nonbank financial entities more like banks, preventing them from benefiting from federal deposit insurance without approval from the Federal Reserve; and a new report by the Mobey Forum, which indicates embedded finance is set to have a significant impact on the banking industry in Europe and the United States. We've also included updates on recent industry milestones, product and company profiles, and more. Please email your news to press@greensheet.com, and send your questions and suggestions to greensheet@greensheet.com. 
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