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Letter from the editor

n the second installment of our multipart series on
what merchants want, a clear picture is emerging,
one shaped as much by economic pressure and
I operational complexity as by evolving consumer
habits. Payments leaders responding to our query in
this issue's lead article describe merchants who are
juggling rising costs, fragmented systems, inconsistent
connectivity and a growing need for guidance that goes
far beyond rate quotes. What stands out most is how
universal these challenges have become.

Whether it’s a small retailer seeking predictability, a
midsize restaurant working through integrations, or an
enterprise merchant pushing for reliability at scale, each
is looking for partners who listen, respond quickly and
deliver real value.

Providing real value is also at the heart of articles from
our contributing writers, one of whom describes how
AI-driven risk monitoring is transforming merchant
oversight, reducing false positives, strengthening com-
pliance, and providing acquirers with intelligence that
enhances risk expertise. Other experts delve into 10
avoidable behaviors that cost ISOs and MLSs valuable
deals, and how recognizing them can drive stronger
merchant engagement; why research parks and inno-
vation hubs are strategic engines for financial services
growth; ways in which orchestration unifies fragmented
payments data, enabling merchants to optimize routing,
boost approvals and strengthen fraud defenses; and a
reminder that not all lending offers are equal, and busi-
nesses should choose borrowing options wisely.

Recent breaking news stories summarized in this is-
sue include a shift in holiday shopping trends as small
businesses ramp up marketing and consumers increas-
ingly rely on AI tools to guide purchases; a federal
court ruling affirming the Federal Reserve’s discretion
to deny master account access to fintechs like Custodia;
the National Retail Federation's prediction that holiday
sales will surpass $1 trillion for the first time, fueled by
consumer demand and strong gifting traditions; Juniper
Research's projection that digital wallet usage will top
6 billion global users by 2030, transforming how people
store and spend money worldwide; and a PwC report
predicting a comeback for cash this holiday season, even
as gift cards, credit cards and evolving fulfillment pref-
erences continue to shape the checkout experience.

You'll also find herein new product profiles, company
spotlights, updates on milestones in the payments com-
munity and other resources designed to help empower
you in your career.
If you have suggestions for us, please email greensheet@
greensheet.com, and to share your news, send your press
release to press@greensheet.com.

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