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January 2010 Issue
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Increasingly, the development of electronic payment solutions reflects not only advancements in technology itself, but consumer preferences. “Consumer acceptance today is likely to be a more significant driver of growth” and innovation, says Suchrita Malpuru, an analyst with Forrester Research in Cambridge, Massachusetts. One example is the wealth of development around debit in general, and PIN-based debit in particular. “The real growth” in the electronic payments area “has been debit transactions,” affirms Nick Connors, senior industry analyst at Callahan Associates, a consulting firm in Washington, D.C. Comprising “a mere 5 percent of payment volume in 1999, debit transactions more than tripled in the last decade, accounting for an estimated 17 percent in 2009. These growth figures are even more impressive when you look at the total volume of transactions, which has grown from $4.8 trillion in 1999 to an estimated $8.2 trillion in 2009.” Download the full issue |
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Caught up in an economic sea change, merchant service providers are adapting to a new environment of thinner margins, better technology, and tighter regulation. They’re emphasizing what seems to work and holding on until the future becomes clearer. The business case for being an ISO, processor, or acquirer is changing, and successful players are making appropriate adjustments, says payments consultant Les Reidl, president of Atlantabased Speer & Associates. Traditional sources of revenue are eroding. With business closures at an all-time high and business startups at an all-time low, people in the merchant acquiring business are learning to sell packages of services that make relationships more “sticky” and provide more revenue from a shrinking customer base and smaller transaction volumes, Reidl says. Download the full issue |
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In 1987, the movie “Tin Men” portrayed he boiler-room driven lives of the hady salesmen who conned residents of Baltimore into buying aluminum siding hey didn’t need or couldn’t afford. A year ater, Card Management Magazine cribbed hat title for an article that painted the companies ho were selling card acceptance o merchants as no better than then con men in the movie.
“That article was a galvanizing moment for me, and for a number of other people in the industry,” says Joyce P. Cook, CEO of International CyberTrans. A few months later, she and a small group of like-minded individuals met in a small meeting room at O’Hare airport in Chicago.
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ISO Corner: Finding the Green in Green |
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Consumer interest in energyefficient ars, global warming debates, ising energy costs, and other ssues have stimulated a surge in green usinesses. But although these enterprises re thriving, they are not recognized as a ucrative industry vertical because their distinct usiness culture rewards only those hat are sensitive to it.
“There has never been a better time o be a green business,” says Kristin Harp, arketing manager of Soda Club USA Inc. f Cherry Hill, New Jersey, which has een sales double in the past year.
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Who knew, 20 years ago, that the nascent business of selling electronic card services would become an industry in and of itself? Who then new that a livelihood that was perceived as suspect would grow to ecome a driving force in merchant and consumer acceptance of electronic ayments? Who knew that a group of professionals gathered together talking bout industry concerns could have a voice on Capitol Hill and impact the regulation of the business?
The founders and activists of the ETA knew.
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