f it's been about 20 years since you updated your résumé, odds are you are either successfully self-employed or perpetually unemployed. For Amedeo "Dino" Sgueglia, President of IRN Payment Systems, it is the former. This industry leader is a self-motivated entrepreneur who has no fear of taking risks and forging his own path.

Sgueglia's first position in the financial services industry was as Founder and President of his own company. Talk about starting at the top. In 1988, he and a friend founded their own ISO for the now defunct Electronic Transaction Network (ENET) in Atlanta. Sgueglia did not have much relevant business experience when he opened his doors. He started out "with little or no management experience," he said. "We took a chance and that was it."

He chose to name his company Independent Resources Network. If the moniker seems generic that's because he intended it that way. Sgueglia did not want to confine his business to specific types of products or services, or even to servicing a particular industry.

The vague name provided him the freedom and flexibility to grow and change, as needed. Since then the company has been known simply as IRN Payment Systems and, more specifically, IRN Payment Systems/Partner America. "Partner/America is our marketing program - our partnership with other ISOs," Sgueglia said.

Sgueglia truly enjoys managing his company, as is evidenced by the fact that he has been doing it for so long. While his interest in IRN and the financial services industry has remained unchanged, the industry itself has not.

"This industry is never boring and always changing," he said. "The constant evolution is alluring to me, and it amazes me that you are never too far from another turn or trend that shapes our industry."

Integrity, respect and equality

For someone who had "no management experience," Sgueglia has fared well. He credits most of his success to his upbringing. "My father," he said, "instilled in me much of the fundamental business principles and ideologies I ... maintain today. He was always fair and sensible, and he believed strongly in standing behind his reputation and word." Sgueglia said that his father had strong values and was very persistent; both have helped Sgueglia form his business philosophies, which have been consistent throughout his career: "Compete nationally; [be] fair, integral and professional; educate sales professionals and merchants; and provide a complete package of products and services of superior quality and value."

These have worked for Sgueglia as his business and the industry have grown. He believes that anyone's achievements are worthless if they are attained by harming another's business.

"Anyone can be successful, but for me it is important to celebrate success with the comfort of knowing it was not at the expense of others, and it is attributed to dealing with people with the utmost integrity, respect and equality," he said.

Anyone who is familiar with IRN or has seen its ads in The Green Sheet knows they often feature Sgueglia's photo. He puts himself out there. He is the face of the company, and we can be relatively certain there is no one else named Dino Sgueglia with whom he may be confused. Sgueglia wants others to know that his personal commitment and integrity carry over to his business. "I stand behind my word, my program and my almost 20-year reputation," he said.

'I am kind of a tweaker'

Sgueglia has worked to create a fluid organization that can adapt as the industry and technologies change. His goals continually shift as he grows, both personally and professionally. "I don't believe in sitting still, and I don't believe in spending too much time setting goals," he said. "I am kind of a tweaker."

As you might have guessed, Sgueglia is a risk taker. "I am not afraid of taking chances, and I believe strongly in everything I am doing," he said. "I attribute any success to these simple principles." Since Sgueglia has been his own boss and has built a thriving organization from scratch, it is difficult to imagine him working for someone else. However, this innovator who embraces change never says never. "I have always aspired to run my own business and be my own boss, and I could only see myself working for someone else if it was the right opportunity and if I had complete autonomy," he said.

Experience and perspective

Sgueglia's experience has provided him with a good perspective on the payments landscape and the industry in general. He is able to review and analyze recent history, identify current challenges and make some predictions about the future. He identified security, emerging payments, interchange and surcharging as some of the industry's challenges.

Regarding security, Sgueglia cited the significant data breaches over the last few years. Such incidents have "made it more difficult for all of us and have forced tighter legislation and compliance," he said. "We all need to be sure our systems are secure and our infrastructure is protected."

He pondered the effect that emerging and alternative payment methods will have on the retail space. The Internet offers diminishing opportunity "[w]ith the existence of PayPal and companies like them and the significant increase in Internet business being migrated over their gateways," he said. "How long before that becomes another payment option for [brick and mortar] retail as well? It would appear that the Associations have missed the boat on that one."

Sgueglia also weighed in on a favorite topic of many ISOs and merchant service providers (MSPs): interchange. He cited the challenges ISOs and MSPs face when they must act as messengers informing merchants of rate increases.

"As an ISO/MSP we are the ones who have to pass on the news of interchange increases," he said. "It is almost automatic now. We no longer think there might be an increase; we know there will be [one]." Like many in the industry, he believes the interchange structure has become too confusing. "If I had my way, we would have three or four levels of interchange, and that's it," he said.

Finally, Sgueglia weighed in on surcharging. "Another issue will arise if merchants win the battle of surcharging ... then we should all hold on to the hand rails and fasten our seat belts because we may be in for a ride," he said.

If merchants are able to surcharge, it might not necessarily be a negative for ISOs and MSPs. Surcharging, he said, could hurt profits for ISOs/MSPs if merchants try to build profit and discourage credit card use. "On the other hand, a merchant surcharge might open up the opportunity for more cards to be used."

Still hopeful

Even with the challenges noted, Sgueglia still believes there is plenty of room for growth and profit. "It's a vastly improving market," he said. "In my opinion, this year's Electronic Transactions Association [ETA] was proof of that." Sgueglia was referring to the most recent ETA Annual Meeting & Expo in Las Vegas where he noticed a switch from primary core payment products to ancillary specialized niche services. "Everyone is trying to build value, and everyone is searching for their niche," he said.

He also noted that merchants and consumers are becoming less dependent on paper processing. "With the inception of Check 21 and other new delivery products, more opportunities will arise today and tomorrow," he said.

"Technology and security are driving the future of our industry, and soon it won't be long before all transactions will not be complete without a retina scan or fingerprint."

He also referred to the many free terminal programs and said they are not negative for merchant level salespeople (MLSs).

"There are so many value-added services; MLSs can get more revenue from revenue-share programs than from equipment," he said. "The opportunities for the guys on the street are endless and abundant. Today's market can drive the best deal."