b'FOGHORN FOCUS Operational FocusFOR YOUR MERCHANT SERVICES PROVIDER RICHARD LEE FOLLETT, III // THRIVE PAYMENTST he maritime industry is a vital component of commerce nottechnical experience. Events such as MariTrends offer the opportunity only here in the United States but globally as well. There isto learn more as you talk to fellow PVA members.an ever-growing need for credit card processing within this industry as technology continues to evolve. Companies that provideSCALABILITYmerchant services must be reliable, secure, and efficient. In this arti- Therearemanyrapidlychangingmarketconditionsandshifting cle, we will discuss the operational considerations that a credit carddemandpatternswithinthemaritimeindustry.Yourcreditcard processing company for the maritime industry should have in placeprocessing company must be able to scale their operations quickly to ensure success.and efficiently to accommodate these changes. Such changes might in-clude, but are not limited to, infrastructure, increasing the number of SECURITY employees, or developing new products or integrations that are tailored Due to the nature of the maritime industry transporting goods, itto the needs of the maritime industry.leaves them susceptible to cyberattacks and fraud. Credit card process-ing companies must ensure that their systems are secure with featuresCUSTOMER SERVICEsuch as encryption, tokenization, and multi-factor authentication. InWith the maritime industry being highly relationship-driven, it is ex-addition, the credit card processing company must also ensure thattremely important that your credit card processing company has best-they are following Payment Card Industry Data Security Standardsin-class customer support and service. The support staff must be knowl-(PCI DSS) and other relevant industry regulations. A great way toedgeable, responsive, and available for any issue that might come up when learn more about this is stopping at some of the PVA associate memberprocessing payments. They must be able to quickly resolve any issues or booths at events like MariTrends. concerns that you may have and must do so in a professional manner.RELIABILITY INNOVATIONSince the maritime industry operates twenty-four/seven, maritimeAs mentioned previously, innovation is a key part to the scalability businesses must be able to rely on their payment processing com- factor for operations when choosing a credit card processing company. pany to also function consistently and without interruption. YourThe maritime industry is evolving with new technologies and business credit card processing company must be able to assure you that theirmodels emerging constantly. The same must also be true for your systems are readily available and have back-up systems in place tocredit card processing company. It is important that the credit card prevent any downtime. Some examples of this would be store-and- processing company is always looking to stay ahead of the curve with forward capabilities and 4G Subscriber Identity Module (SIM) cardinnovative new products and services, as well as new pricing models connectivity. They must also have detailed disaster recovery plans inthat fit specifically for the maritime industry.place so they can quickly recover from any outages that might hap-pen from an outside source. In conclusion, credit card processing companies play a critical role in the maritime industry, enabling maritime businesses to transact with EFFICIENCY their customers quickly, easily, and securely. To succeed in this market, Thismustbeapriorityforanymerchantservicescompany.Thea credit card processing company must prioritize security, reliability, maritime industry is highly competitive with every dollar and minuteefficiency, scalability, customer service, and innovation. By doing so, counting. Your credit card processing company must be able to providethey can build long-lasting relationships with their customers and help fast and efficient payment processing. It must also be able to provideto drive the growth and success of the maritime industry as a whole. easy-to-use payment processing systems that allow you to process thoseMariTrends is the perfect opportunity to take advantage of your PVA payments quickly and easily without the need for extensive training ormembership to learn more about all these topics.About the Author RICHARD LEE FOLLETT, IIIDIRECTOR OF SALES AND BUSINESS DEVELOPMENT, THRIVE PAYMENTSRichard Lee Follett, III, MBA is the director of sales and business development of Thrive Payments, a PHOTO: ISTOCKpayments company with a 41-year history of serving businesses throughout the U.S.Thrive Payments is an associate member of PVA and a proud supporter of the Passenger Vessel Foundation.FOGHORN 22'