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They inform an industry, spark debate and define direction isn’t just covered by the news, but is the news.
Work with the founders and other consultants to lead and execute payments-specific consulting projects for technology companies, acquirers, ISOs, banks, card brands and other players. Projects will primarily focus on payment facilitator operations…
At Double Diamond Group, we start with you: your perceptions, your questions, your challenges. We understand that you make decisions involving millions of dollars every day, and we respect your priorities, your timeline and your budget.
*“Double Diamond was essential in helping refine our portfolio company’s strategy and prioritizing its resources. Then, Todd and his team worked side by side with the management team to manage implementation and execution. The entire board was very pleased with the process and the results of our collaboration.” – Carty Chock, Co-Founder and Partner, ClearPoint Investment Partners (Worked with Double Diamond Group in a prior private equity firm)
*“I have had the pleasure of working with Todd Ablowitz in a variety of capacities during the past fifteen years, and in every instance he has demonstrated his professionalism, his leadership, and his ability to deliver actionable insights and strategic direction. Whether we were working together at the same company, or I referred Double Diamond Group to other businesses, Todd has always exceeded expectations and made a measurable difference.” – Diane Vogt Faro, President, National Benefit Programs
“We appreciated how professionally the Double Diamond Group and Rich Consulting team managed the project. They were genuinely interested in our success, and worked as partners throughout the entire process by continually looking for ways to provide value.” – Russ Jones, CFO, Shopify
See more about our story: Aggregation Solutions.
“Working with Double Diamond Group and Rich Consulting definitely expedited our process of having a final set of policies by months if not years.” –
Daniel Wacker, Club Ready
Read our case study: Payments Facilitation.
“I’ve known Todd for many years and he has an exceptional reputation for grasping the big picture, and following through with quality results. Double Diamond Group not only understands our business as well as we do, Todd and his team have innovative ideas about how we can open new market segments.” – Bill Clark, General Manager, Secure Payments Division, Apriva
“Double Diamond Group hit a home run. Their information was transformative in nature as far as educating us on what’s happening in the marketplace. It allowed the organization to rally behind the investments needed to pursue the opportunities uncovered through our work together.” – Marianne Johnson, Executive Vice President, Global Product & Innovation, Elavon
See more about our story: Payment Consulting Success.
“It’s rare to find a consulting firm that moves beyond validating strategies and assumptions to actually delivering new information that is surprising and insightful. Double Diamond Group gets to the heart of the issues and clearly answers the questions that a CEO or operational leader needs to know.” – Nina Vellayan, President & CEO, Frontstream Payments
See more about our story: Payment Research Success.
“When it comes to the Payment Facilitator model, very few people have the depth and breadth of knowledge and expertise as Double Diamond Group” – Chris Rhode, memberplanet
“The DDG consulting team not only had the specialized experience we needed, they also quickly understood our business and had an appreciation for our customer base.” – Russ Jones, CFO for Shopify.
“Lori has been my trusted financial industry consultant for years. Top tier lawyers apparently agree, as I often receive requests for her services as an expert.” – IMS Expert Services, Recruiter
When electronic payments and mobile payments companies turn to Double Diamond Group, their high expectations are met with fresh ideas, actionable recommendations, quality execution and measurable results.
For more information, contact:
Todd Ablowitz, President
Double Diamond Group, LLC
Tel: +1 (303) 916-9997
Call us to create big results today!
The PCI Council is allowing the most sensitive part of a payment card transaction to happen on a device that it acknowledges is highly dangerous and unstable.
“This will open up MPOS worldwide in a way we’ve never seen. It’s absolutely groundbreaking for micromerchants” who process “less than [the equivalent of] $50,000 U.S. a year,” said Todd Ablowitz, CEO of the Double Diamond Group.
Ablowitz argued that the costs and fees involved in payments make adding a PIN pad — along with its PCI certification — unacceptable for many non-U.S. micromerchants, which have always struggled with chip and PIN. “In a place where PIN is mandatory, micromerchants have been left out,” he said.
Custom Underwriting and Risk Management Policies and Procedures – Payment Facilitation Focused Research
New Case Study Double Diamond Group Global Payment Payment Facilitation Focused Research – ClubReady
That small-but-powerful sentence has led scores of personal and professional transformations, and it’s what drove ClubReady from an industry upstart to a leading provider of health club management.
A typical challenge that a payment facilitator often faces is keeping current and accurate policies and procedures. During an annual audit it was determined that ClubReady’s underwriting and risk management policies and procedures were in need of updating.
“I am thrilled with the results and the first-time success was well worth the time, effort and money that my team spent.”
Double Diamond Group provided ClubReady with a new set of written underwriting and risk management policies and procedures…
Payment Facilitation Program, Custom Underwriting Policies and Procedures, Fraud and Compliance Management
Double Diamond Group Global Payments Payment Facilitation Focused Research Case Study – Member Planet
Memberplanet is a cloud-based membership management platform that makes it easy for organizations of any size to communicate with its members, plan and launch events, and process dues, donations and payments…
“We didn’t get just a one-off consulting engagement with Double Diamond Group we now have a long-term business relationship”
Based on its experience launching and operating GreekBill, the leaders of memberplanet knew that offering payments could be a key differentiator. Not only did they want to offer a seamless payment experience to their customers, they fully understood the value of capturing per transaction revenue as a Payment Facilitator, rather than syphoning that revenue off to a third-party processor…
ISVs and SaaS providers are increasingly becoming payments companies, with 88% growth to $513 Billion in Gross Payments Volume by 2021, representing $4.4 Billion in Net Revenues to the ISVs…
Get the latest report from Double Diamond Payments Research. Don’t miss out on this revenue opportunity…
“The explosion of the payment facilitator market is not going to slow any time soon,” said Todd Ablowitz, CEO, Double Diamond Group. “Evidenced by recent research we conducted, and are releasing at TRANSACT16, not only is the number of payment facilitators skyrocketing year over year, but we predict that Payment Facilitator transaction volume will experience at least a 70 percent average annual growth rate through 2018. I’m excited to work with ETA on this project to support the success of this rising segment of the payments industry.”
ETA Announces the Roll-Out of New Payment Facilitator Guidelines
Authored by Double Diamond Group on behalf of ETA, these important guidelines are available free to ETA members, and will help promote the growth of the Payment Facilitator segment as it brings new technology companies into the payments industry.
“It’s been an exciting and interesting road for the payment facilitator concept,” said Todd Ablowitz, CEO of Double Diamond Group and co-Founder of PaymentFacilitator.com. “We’ve been there since its inception and are fortunate to be part of the dramatic rise of this vertical. We’re delighted to share some unique perspectives on how the industry is using payment facilitation to drive innovation, create better merchant experiences, and improve back office and risk systems.”
READ FULL ARTICLE : ETA Announces the Roll-Out of New Payment Facilitator Guidelines
Stratfor, the Crack Geopolitical Soothsayer, Predicts the Demise of Cash. I predict a Payment Facilitator Boom!
Europe is axing the 500 Euro Note. Crosshairs are on the Ben Franklin, and cash looks to be on a long slow death. This spells opportunity for electronic payment, but to get there someone has to enable the hundreds of millions of small merchants globally. This will — in fact it MUST — happen through Payment Facilitators. Click on this article in PaymentFacilitator.com to see why.
When the Internet, and then mobile and cloud-based technology, began to radically change the acquiring business, some independent sales organizations thought they could adapt by becoming software companies without changing the way they do business.
They were wrong, and that mistake is costing them dearly, argues Rick Oglesby, senior research analyst at Double Diamond Payments Research, Centennial, Colo. “Your average ISO is a distribution specialist selling a universal solution.” he tells Digital Transactions News. “The software industry isn’t like that. It’s very different from traditional payment-industry approaches to selling.”
The result of this mismatch is inevitable. “These guys haven’t figured out how to make money” on mobile solutions, Oglesby says.
So should ISOs become ISVs? Independent software vendors have shot to prominence as mobile and cloud point-of-sale technology has brought sophisticated business-management and marketing functions, once affordable only at big chains, within reach of small merchants, the ISOs’ bread-and-butter clients. Oglesby’s answer, laid out in 35 pages of closely reasoned text in a report released Thursday, is a carefully qualified “maybe.”
Digital Transactions, July 9, 2015
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SAN FRANCISCO >> As Jack Dorsey heads to Twitter to steer that company through a rocky patch, his other company, Square, is staring down a future that just got a whole lot murkier.
Square, financial services, merchant services aggregator and mobile payments firm, finds itself without a full-time leader at a critical juncture — it is losing money and competition is steep. With Dorsey, Square’s cofounder and CEO, taking over the chief executive post at Twitter on an interim basis, speculation — which Dorsey did not deny when asked Thursday — abounds that he wants the Twitter gig permanently.
If that happens, Square will likely find itself looking for a new leader and perhaps a bigger company to buy it, say analysts who study the company and payments industry.
“It’s been the case for at least two or two and a half years now that Square has tried to position itself to get sold,” said Sam Hamadeh, founder and CEO of PrivCo, a financial data provider on major privately-held companies. “Everyone in M&A knows that they are shopping the company around. They are really hoping someone like Google steps up and buys them, they are praying for that, because the financials are horrific.”
Santa Cruz Sentinel Business, June 12, 2015
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Google will have to explore other avenues to earn money from its recently announced mobile payments service, Android Pay. Unlike rival Apple Pay, Android Pay will not earn Google a percentage of each transaction processed via the payments service.
According to a report from The Wall Street Journal, this is “because Visa Inc. and MasterCard Inc., which operate the dominant payment networks, recently standardized their ‘tokenization’ card-security service and made it free, preventing payments services from charging fees to issuers.”
Tokenization, when applied to data security, says Wikipedia, is the process of substituting a sensitive data element with a non-sensitive equivalent, referred to as a token, which has no extrinsic or exploitable meaning or value.
In the case of mobile payments, tokenization replaces sensitive credit card details with a unique code – a token – that can only be used once. In this manner, credit card details are never transmitted or shared with merchants, adding an extra layer of security.
SiliconAngle, June 8, 2015
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Google has officially dropped transaction fees for credit card establishments engaged with Android Pay, the company’s highly anticipated mobile payments service.
The announcement could force other businesses offering similar services to reconsider their terms with participating credit card issuers. Banks that are unhappy with sharing fees could use Google’s move as an example to gain the upper hand in future deals.
As a basis for comparison, financial companies on board with Apple Pay allow Apple a 0.15 percent share of the total value per credit card transaction. The tech giant collects a half-cent for each purchase made using a bank debit card.
“This is a bold move on behalf of the banks,” said Rick Oglesby, head of research at Double Diamond Payments Research. “They’re now taking a stand against similar deals. It could easily turn into a standoff.”
Payment Week, June 8, 2015
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Android Pay is a near identical clone of Apple Pay, but it won’t be anywhere near as lucrative, according to a new report. Unlike Apple, Google isn’t taking a cut from Android Pay transactions, so the service will literally be offered for free.
The Wall Street Journal reports that the reason for this is “because Visa Inc. and MasterCard Inc., which operate the dominant payment networks, recently standardized their “tokenization” card-security service and made it free, preventing payments services from charging fees to issuers.”
Tokenization is the system that swaps credit card data like account numbers, expiry dates, and security codes with a unique string of numbers (token) that can only be used once. It’s much safer than traditional transactions, because it means credit card details are never shared with merchants.
TechnoBuffalo, June 7, 2015
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Google Inc. won’t earn any transaction fees from credit-card issuers for its coming mobile-phone payments service, unlike Apple Inc., because of evolving ground rules for the services.
Credit-card issuers hope the changes pressure Apple to trim or eliminate its fees, say industry executives, highlighting the speed at which the economics are changing in the evolving mobile-payments business.
Google disclosed its payments service, Android Pay, in late May, with wireless providers, payment networks, retailers and banks, stepping up competition with Apple Pay, which launched late last year.
Hundreds of financial institutions scrambled to work with Apple Pay, afraid of being left at a competitive disadvantage. As a result, big banks and other card issuers agreed to give Apple 0.15% of the value of each credit-card transaction. For bank debit cards, Apple collects a half-cent per purchase, according to people familiar with the service.
“This is a bold move on behalf of the banks,” said Rick Oglesby, head of research at Double Diamond Payments Research. After agreeing to Apple’s terms for Apple Pay, “they’re now taking a stand against similar deals. It could easily turn into a standoff.”
Many of Apple’s contracts are for three years, and have roughly two years to go, according to people familiar with the situation.
Wall Street Journal, June 5, 2015
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With its Visa Digital Enablement Program, announced last week on the same day Google Inc. unveiled Android Pay, Visa Inc. has introduced application programming interfaces for card-issuing institutions to link to potentially thousands of digital-payments services with a single integration and without separate business agreements for each.
Visa also hopes to make those arrangements virtually cost-free for issuers. Services that connect to VDEP agree not to levy fees. And with VDEP Visa itself has decided to permanently waive the tokenization fees it devised last year and put on a temporary hold. The fees reportedly included a 7-cent charge for each token and 2 cents for each decline.
That’s where Visa says VDEP will make things easier. Instead of confronting commercial contracts and integrations individually with each service, issuers will be able to turn on a service with a single connection to Visa. “An issuer will have the ability to throw a switch,” notes Rick Oglesby, a senior analyst at Double Diamond Group, a Centennial, Colo.-based consultancy who follow mobile payments.
Digital Transactions, June 2, 2015
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Google Inc. is betting its latest mobile payments incarnation—Android Pay—will work better than Google Wallet did. Announced Thursday at Google I/O, its developer conference, Android Pay is poised to compete directly against Apple Inc.’s Apple Pay, PayPal Inc., and the upcoming Samsung Pay for a piece of the burgeoning mobile-payments market.
Google’s strategy, which is a close replica of that of Apple with Apple Pay, makes the most sense from a business and technology standpoint, says Rick Oglesby, head of research at Double Diamond Group, a Centennial, Colo.-based advisory form.
“If the major wallet players approach banks and merchants with compatible offerings, they strengthen the business cases for participation and acceptance,” Oglesby tells Digital Transactions News in an email. “Apple put the model in place to gain issuer and network participation, so Google is following that model as well. Then, Apple and Google will actually be teaming up to gain merchant participation.”
Digital Transactions, May 28, 2015
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Selling payments services to small merchants is never easy. Now, throw in EMV and its attendant complications, add in merchant ignorance of the technology, and the sales pitch gets more complex.
Small merchants, in particular, are poised to be least ready come October. Getting them to listen to the EMV sales pitch might be tough, but there are ways to make it a little more appealing, as outlined in “10 Ways To Sell Small Merchants on EMV,” a recent Digital Transactions webinar.
One tip is to explain how security-conscious consumers might balk at using magnetic-stripe cards instead of their chip cards. Issuers will be touting the security benefits of chip cards, and while consumers may not understand EMV, they’ll have seen the publicity about data breaches and will want to use it.
Another tip is to bundle EMV with tokenization and encryption services, which is especially useful for merchants that sell online. Using these technologies can do a better job of protecting sensitive card data.
Sales agents can bundle EMV with other services, too, says Rick Oglesby senior analyst at Double Diamond Group, a Centennial, Colo.-based payments advisory firm. Use POS systems, with business-management features, to lead the sales pitch, he suggests.
Digital Transactions, May 15, 2015
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Best Buy’s move to accept Apple Pay in its stores is the clearest public sign yet that the Merchant Customer Exchange has radically altered its vision of and ambitions regarding a retailer mobile wallet.
MCX’s CurrentC wallet was designed to lower interchange for merchants through the use of a cloud-based mobile wallet, while keeping merchants in control of consumer data. When Apple Pay launched last year with a structure that allied with the banking industry’s interchange pricing structure — and offered a bump in security — it shifted the very nature of the market that MCX was developing for.
The MCX of today is radically different from the MCX that formed in 2012, said payments consultant Todd Ablowitz, who attended some of the group’s earliest meetings.
“At the time they started this, their hope was to run the table in mobile payments. They wanted to lock up big retailers,” said Ablowitz, who today is president of The Double Diamond Group. “But the nature of a consortium makes it move slowly. By any measure, MCX has moved slowly. Now, with the benefit of seeing Apple in the market and the quality of its offering, it seems almost silly to expect a retailer to be exclusive to MCX.”
Steve Mott, principal with payments consultancy BetterBuyDesign, said the idea of exclusivity made a lot more sense in the beginning, when MCX’s contracts were written and signed.
“The exclusivity idea was a logical way to help get off the ground with a new product in the heady period of the first generation of mobile wallets. It would be no different with a shared loyalty program–why support competing offers? That makes no business sense,” Mott said. “But now, knowing that the consumer adoption of mobile wallets and payments is a long, uphill climb for everyone—including Apple—there is less need to incubate or protect a nascent system. That plus Apple, which gets a free ride on its behavior from many people, clearly is putting pressure on merchants that naturally want more allocations of Apple products to sell in their stores.”
MCX’s goal must be to coexist with other wallets, rather than push them out of the market, Ablowitz said.
“The mobile operating system manufacturers—Apple and Google—they will win. This isn’t in question. They will win,” Ablowitz said.
PaymentsSource, April 28, 2015
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