Discover the Biggest Challenges & Opportunities Facing the Payments Landscape
If you’re an ISV, ISO or processor, there’s a good chance that you attended the Electronic Transactions Association (ETA) TRANSACT tradeshow or the Northeast Acquirers show in April.
We met with hundreds of payments professionals at both shows and, regardless of company size or solution offering, many are facing the same challenges: Supply chain shortages, evolving security priorities and growing competition.
Get our rundown of the hottest topics at each show, along with strategies for staying ahead of your competitors.
Leaders Turn to Plan B as Supply Chain Challenges Persist
The well-known chip shortage is having a trickle-down effect on payment equipment manufacturers. In the last year, lead times POS terminal orders increased to record highs—in some cases, terminal distributors quoted 26 to 30 weeks for orders that historically took 12 weeks to fill.
The best solution to combat these challenges is to plan ahead. Start thinking about your device needs and develop and equipment forecast through the next year—and be sure to plan for as much lead time as possible. In the interim, leverage alternative options like device rentals or refurbished equipment to fill any gaps.
Speed Becomes Key in Bogged Down Landscape
Acquirers, processors, ISOs and ISVs are all competing to provide merchants with smarter payment technology and solutions that are easy to install and support , while keeping up with the future of retail with POS innovations and the variety of payment technologies merchants require.
In this highly competitive market, it is essential differentiate your service offering. One of the best ways to get ahead is to find creative ways to increase speed, especially considering everyone is struggling with the supply chain delays. Working with a centrally-located third-party solution provider that can quickly configure and distribute solutions—and provide those aforementioned refurbished devices and rentals—can help you move more quickly than your competitors.
PCI Regulations & Security Concerns Are Evolving—Quickly
While security and compliance with PCI Data Security Standards (DSS) has always been crucial across the payments landscape, it has become an even higher priority as the growth of ecommerce has created more entry points for costly breaches and cyber attacks. Add the fact that PCI standards evolve on an ongoing basis, and it becomes even more challenging for technology leaders to feel confident in their security efforts. Trusted, PCI-validated third-party providers can be the answer to manage device configuration and key injection efficiently and securely.
TRG Can Help
TRG is the only independent distributor and managed solutions partner that also has the credentials to implement PCI-compliant payment solutions.
Certified PCI P2PE Solutions Provider
QIR and CTGA Personnel on Staff
PCI PIN ANSI TR-39 Level 3 certified
Registered ESO, sponsored by Wells Fargo and Bank of America
Validated Service Provider through VISA®
Member of the PCI Security Standards Council
Payment Terminal Key Injection Facility
Schedule a call with our team today to learn how we can help with device configuration, distribution, rentals, repairs and more.