Mobile payment, cloud-based processing and other innovations are changing the acquirer-processor relationship. At the heart of it all is sophisticated software, which is creating less emphasis on hardware-only solutions.
The change has occurred in the level of support necessary to meet the expectations of today’s retailers and the need for acquires to effectively adopt the shift from hardware to software. The dynamics of this relationship are at a different level now. Connected devices and the cloud have turned the hardware-only model on its ear. The prevalence of intelligent devices – driven by cloud-based applications and services – offers unprecedented new levels of flexibility and functionality.
To try to get a better idea how all of this is affecting merchants, PYMNTS.com spoke recently with Peter Osberg, senior vice president of EVO Snap* Read the full interview here.