For acquirers selling merchant services and already contending with the advent of new competitors, an extension by Amazon into the brick-and-mortar payments world would mean an intensification of that competition, says Todd Ablowitz, president of consulting firm Double Diamond Group LLC, Centennial, Colo.
Traditional acquirers “better have a good strategy for dealing with the new world of payments,” Ablowitz says. For many, that means having the technology to sell, but marrying it with sales and services. That could be an advantage, because many of the technology companies getting into payments rely on self-service and remote options, he says. Ablowitz also recommended focusing on a specific niche or having some other differentiating service.
Digital Transactions, December 18, 2013
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