Patty Murphy Greensheet mention about NorthEast Acquirers

Insider's report on payments
Debit rules and other musings
By Patti Murphy
The Takoma Group

New perspectives

One thing I've always consistently enjoyed about this business is the people I get to meet.

And some of my favorite venues for meeting folks are the regional acquirers association meetings like the Northeast Acquirers Association's annual winter event in Vermont.

Now, I'm not naïve. I realize the main reasons The Green Sheet asks me to attend this event each year are: 1. I live on the East Coast; 2. I grew up in the frozen tundra of Upstate New York; 3. No one cares to leave the relative warmth of California for a cold, snowy week in Vermont.

Nonetheless, it's an event I enjoy, in part because it offers a unique perspective on the acquiring space - the perspective of the feet on the street. And this year's event, held in late January, was no exception.

While just about everyone admitted that business is down, the roughly 400 folks who ventured to Vermont for the meetings and fun in the snow were upbeat.

"Business stinks. But it's been worse, and it's going to get better," one old-timer told me.

I was also struck by the number of new faces I saw among attendees. This is, after all, a people business, and sometimes it takes the perspectives of newcomers to facilitate change.

It's time to rethink card pricing, as the current interchange models keep getting attacked in Washington, D.C., and the press. Maybe newcomers have some fresh ideas.