Why ISO's will eventually lose the battle for the Payments Domination if they don't start making the right moves

I read a post by Patricia Carlin the founder of PayArc and it's interesting because in my opinion she is right but I don't really think that these big Software PayFac's are missing anything. The world is changing and so is technology.(People are evolving even my mom cut the cord and isn't using cable anymore and a few years ago she could barely turn on the tv)

Ever wonder why these software companies that become big payments companies really don't do acquire other payments companies, but they are out acquiring tech companies and making partnerships with product complementary companies?

In my opinion its because they see whats broken, that's why they are fighting with each other for market share instead of fighting with ISO's(they know rising costs and poor product/marketing will put themselves out of business). Square makes a partnership with UPS and has been in big development stages to take on shopify/stripe with their new version of their square market (old version Ex: https://squareup.com/market/vlorebakery). Which I am sure they will try and move to take on the giant Amazon.

Withe P2P innovations like Cash.app, apple cash, Gpay, Zelle and Venmo that are huge Successes and they are aggregating huge amounts of data you can see that they are playing the long game and waiting on monetizing their platforms.

Right now I hear the same constant argument that real businesses won't sign up without any human interaction and relationships, but IMO that is rubbish(we have signed up plenty of good businesses without talking to them). For Example if you had a personal relationship with a friend at the Acura dealer would you always buy an Acura or would you go with the Tesla because it looks nicer and will satisfy what you wanted. Out of site out of mind as long as that friend(or car guy) isn't in front of you, you're going to go with what makes you happy not them(big reason Carvana is becoming a force in the car sales industry).

Stripe and Square and acquired some AI companies to make their customer journey better, and when they utilize their friction less boarding, fast and simple implementation, accessible tutorials, AI problem solving and engagement and constant improvement to their tech(again their tech companies not payments) they will fully take over.

And the amount of research they do and key word tracking is almost amazing, I love when I see and IP string of 135.84.133.0+(squares IP string) because I know they are looking at something of mine for a reason(lol I should invoice them).

The way that ISO's fight back against big PayFacs and win there market share..... Can't tell you that yet, maybe next time.

#payments #payfacs #paymentsSciFi #getreadyforthefuture #fintech