It’s no longer enough for acquirers to offer merchants fast payment processing.
Payment speed and uptime are now mere table stakes in the play for strong acquirer-merchant relations. The competitive edge for acquirers comes from understanding the new complex dynamic and by being a true partner, and not just in payments.
This environment provides a rich opportunity for acquirers. Just as merchants learn to think like their customers, acquirers must always think like their merchants. Those that can identify ways to make their merchants’ lives easier – by understanding payment performance improvement in areas such as fraud, authorization, spend and more — are the ones that will gain the most from this new dynamic.
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Senior Vice President, Financial Institutions, Aquirers and Processors
T.J. Sharkey is senior vice president, Financial Institutions, Acquirers and Processors. In this role, he leads the Acquirer and Processor vertical for Mastercard Data and Services.