In "Payments' place in the retail playbook ‒ Part 1," the lead article of our June 13, 2016, issue, we began an exploration of the need for ISOs, merchant level salespeople, processors and acquirers to embrace disruption and work effectively with today's innovative, proactive merchants. This issue's lead article concludes this two-part series with further discussion aimed at examining the changing role of payments in merchants' businesses and the many ways payment professionals can adapt.
Our contributing writers also frequently address the issue of how to adapt and thrive in an ever changing industry. In this issue they provide information on becoming a broker of merchant cash advance and alternative business loans; the ramifications of consolidation in the industry; the importance of PII in our world of increasing global transactions; the pros and cons of paper statements and online portals for merchants; the effects of new technologies on acquirer portfolio valuations; reasons why cash and checks have staying power; and steps entrepreneurs can take to get new ventures off to a solid start.
Features herein include a primer on addressing data vulnerability, a look at how open-loop prepaid will play a role in Starbucks' latest loyalty program; the appeal of installment payments for U.S. consumers; and MCX's discontinuance of the CurrentC mobile wallet in favor of a developing business arrangement with JPMorgan Chase.
In the news, you'll find stories on the Consumer Financial Protection Bureau's new "payday loan" guidance and the bureau's lawsuit filed against a processor for allegedly facilitating fraudulent transactions; a LexisNexis report on new fraud trends; and the National Retail Federation's request that the Federal Trade Commission investigate the PCI Security Standards Council for violation of federal anti-trust laws. In addition, we've included briefs on retail innovations; proposed federal legislation to replace the Durbin Amendment; congressional reaction to reports on cyber breaches; a relationship severed between a prominent retailer and a major card brand; research on mobile POS prospects, EMV and online purchasing behavior; and payment company expansions, honors and awards, new funding, patents, partnerships, acquisitions, appointments, and more.
Has your business changed in the last year? If so, how? Where will the opportunities be for the industry's feet on the street in the future? Please share your thoughts on these questions and other matters of relevance to the payments community at firstname.lastname@example.org. And we continue to welcome your press releases at email@example.com.
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