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Letter from the editor

he payments sphere is no longer simply about
moving money from one place to another. It
is becoming an ecosystem built around intel-
T ligence, infrastructure, compliance, security
and operational strategy. That transformation is visible
throughout this issue. In our lead article, Patti Murphy
examines the ongoing uncertainty surrounding can-
nabis payments as regulators continue moving toward
broader acceptance of medical marijuana, while many
financial institutions, processors and card networks
remain cautious. And businesses connected to the canna-
bis sector continue navigating workarounds, compliance
burdens and inconsistent access to financial services.
At the same time, payment infrastructure is becoming
far more complex. Reporting from Money20/20 Europe
in Amsterdam, Jean-Philippe Niedergang explores how
new European regulations are reshaping the checkout
experience and forcing merchants to rethink POS infra-
structure, accessibility requirements, instant payments
and compliance.
Several contributors also examine how payments pro-
viders are evolving into broader business advisers and
technology partners. Elie Katz looks at how modern POS
systems are transforming inventory management and
helping ISOs build stronger, stickier merchant relation-
ships. Joel Horwitz challenges common assumptions
about merchant acquisition costs, arguing that both or-
ganic and paid marketing strategies carry hidden oper-
ational realities. George Csahiouni begins an in-depth
two-part series exploring what drives merchant portfo-
lio valuations in today’s market, while Ken Musante ex-
amines how AI-driven scams and new network monitor-
ing programs are increasing pressure on acquirers, pay-
facs and processors to identify fraudulent activity earlier
and more aggressively. This issue’s Industry Update and
news sections further reflect an industry rapidly adapt-
ing to stablecoins, AI-powered tools, real-time payments
and shifting fraud dynamics. The common thread is
clear: payments companies are being asked to do far
more than process transactions. They are increasingly
expected to provide intelligence, resilience, compliance
support and operational value.
We also celebrate an important milestone in this issue.
The Southeast Acquirers Association recently marked its
25th anniversary, inspiring Allen Kopelman’s reflections
on the organization’s growth and Dee Karawadra’s heart-
felt tribute to longtime board member John McCormick.
Together, the pieces capture the relationships, mentor-
ship and sense of community that define this industry.
In our Inspiration feature, we reflect on the importance
of bringing warmth, patience and genuine connection
back into our business relationships. Amid all the chang-
es in our industry, authentic human connection remains
one of the most valuable differentiators of all. As always,
we hope this issue informs, challenges and inspires you.
Please send your comments to greensheet@greensheet.com,
and send news to press@greensheet.com.

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