TRANSACT Program Highlight: A Look at the SMB Segment

With over 30 million small and medium businesses (SMBs) in the United States accounting for 66 percent of net new jobs and 47.5 percent of all private sector employees, SMBs represent an important, growing constituency of payments technology industry customers.

According to studies from Wells Fargo and Paysafe, SMBs are most focused on services that help them solve ecommerce, marketing and finding new customers, and above all, payments security. As the ecosystem evolves through software innovation, new sales channels and new models of payments acceptance are providing integrated solutions to merchants of all sizes.

The demands, challenges, opportunities and intricacies of providing services to small and medium businesses will be on the SecureTrust Main Stage during the SMB Summit, sponsored by J.D. Power., at TRANSACT, the world’s largest payments technology event, on May 2.

J.D. Power will kick-off the Summit with an exclusive discussion of the J.D. Power Merchant Services Satisfaction Study ^(SM). The study profiles the customer experience of the SMB market for merchant acquirers and identifies key priorities for payments companies to engage and serve this segment.

Paul McAdam, senior director of the financial services practice at J.D. Power, will present the findings and moderate a panel discussion with senior executives from leading merchant acquirers.

“Our data is the first of its kind – results that paint a clear picture of opportunities for payments technology providers to strengthen their relationships with small-and-medium size merchants in the U.S.,” said McAdam in a press release from TRANSACT. “Bringing our data together with top payments technology leaders at TRANSACT, the biggest stage in the industry, is the most effective way to share the study results.”

Full sessions and speakers on the SecureTrust Main Stage for the Summit include:

• JD Power Presentation: Moving Forward to Serve Small Businesses
  • The 2019 JD Power Merchant Services Satisfaction Study (released in Feb 2019) profiles the state of customer experience in the small business market. This panel of industry executives will discuss actions payments companies must take to engage and serve the small business segment.
  • Speakers: Michele Heron, Senior Vice President, Strategy, Marketing & SMB Solutions, Visa; Adam Lebofsky, Head of Client Experience, Chase Card Services; Paul McAdam, Senior Director, Banking & Credit Card, D. Power; Mark Schulze, Co-Founder and Head of Business Development, Clover.
• Helping SMBs Get the Right Products and Solutions for their Business
  • With the payments industry rapidly changing, so is technology. As more consumers are looking to use new payment options when making a purchase, there is an emergence of different payment products for SMBs to choose from to support their business goals. But what product is best suited for their business and who can help in making this decision. This panel will explore the need for payment service providers to act as consultants to guide SMB market growth.
  • Speakers: Pierre-Emmanuel ‘PE’ Perruchot de La Bussière, VP Business Development & Partnerships, Vend; Denada Ramnishta, VP of Business Development and Partnerships, Lendio; Keith Sampson, Director of National Sales, North American Bancard; Denise Tahali, Senior Vice President, Agent and Petroleum Sales North America, Paysafe; Patrick Turiano, Director of Marketing, North America, Paysafe.
• Understanding the New Rules of Small Business Marketing
  • Smart players in the payments industry understand that their relevance is tied to consultative services. Merchants are dealing with rapid pace of change and small merchants especially are looking for guidance from their payment partners. This panel will address how the new rules of small business marketing will enhance value for the sales channel to better serve customers.
  • Speaker: Matt Proctor, Senior Partner Manager, Wompy.
• Small and Strong: Lessons from Enabling Payment Acceptance for SMBs
  • Small businesses are adopting advanced technologies to accept payments and enable business efficiency. Payments are the anchor that drives growth, optimizes processes and offers a great customer experience. This panel will gain perspective on the players that provide SMBs with payment acceptance tools needed to expand their business.
  • Speakers: Damien Balsan, Mobeewave; Alex Boeding, Product Manager, Core Product SMB, Worldpay; Uday Peyyala, Director of Strategy, CardFlight.
• Digital Transformation of SMB: Future of Commerce
  • VISA study focused on the impact digital payments has on serving the SMB space to expand reach of commerce. Session will address key insights to help merchant acquirers and ISOs promote digital payments to SMB Merchants to expand acceptance, customer stickiness loyalty and additional services.
  • Speakers: Todd Mazurek, Senior Director, Visa; Josh Park, Visa; Diana Unay, Director, Social Media Marketing, Visa.

Make sure to secure your spot at TRANSACT to attend the first-ever SMB Summit, sponsored by J.D. Power, on May 2, 2019. A TRANSACT registration unlocks your access to this track plus seven others, a show floor of 200+ leading-edge payment tech exhibitors, unrivaled networking opportunities and more. Click here to register. And for a look at the full TRANSACT schedule, click here.