Latest news with #B2B
Forbes
a day ago
- Business
- Forbes
What Merchants Should Know About Visa's Commercial Enhanced Data Program
Robert Day is the MP at and the author of The Great American Heist: How Credit Card Processors Steal Businesses' Profits. getty The credit card processing industry is undergoing a major change since Visa announced the Commercial Enhanced Data Program (CEDP), which went live in the U.S. in April. This new program replaces the legacy Level 3 and large ticket interchange structures with a system that rewards merchants for submitting cleaner, more accurate data. After October 17, 2025, transactions submitted with incomplete or incorrect Level 2 or Level 3 data will not qualify for Level 3 interchange rates, according to Worldpay. If that sounds like a major shift, it is. I've worked in this space for more than 25 years, and this is the most significant shake-up I've personally ever seen. Here's what merchants should understand and how they can prepare. CEDP is Visa's attempt to modernize and standardize enhanced transaction data for business-to-business (B2B) purchases. Historically, merchants could qualify for reduced interchange rates by submitting Level 2 or Level 3 data, but the process was often inconsistent and messy. Now, Visa is tying cost savings directly to data accuracy. If you submit the required line-item fields and Visa Commercial Solutions (VCS) validates them, you can qualify for a lower interchange rate. The New Rates And Fees Visa is also adding a 0.05% CEDP participation fee to every qualifying transaction, Worldpay also said. Merchants may still save money if their data passes validation, thanks to reduced interchange rates. Some CEDP rates are 7% to 10% lower than previously available. Large ticket transactions, for example, drop from 1.45% + $35 to 1.3% + $35, Worldpay reported. That sounds great if you qualify, but merchants can't simply submit what's required—it must also be validated by VCS, which could potentially influence how often merchants see the savings. Goodbye, Level 2 What seems to be one of the most overlooked aspects of this rollout is the elimination of Level 2 interchange rates. That tier provided a middle ground for merchants who couldn't—or didn't—submit full Level 3 data. By April 2026, Level 2 will be gone, with the exception of the fleet fuel-only Level 2 program. Otherwise, only Level 3 will remain—and only for merchants who meet the new validation requirements. How This Could Affect Tax-Exempt Transactions Here's where I believe things get messy. In my experience, tax-exempt transactions have always struggled to qualify for Level 3. Under CEDP, Visa requires tax amounts or rates be explicitly stated, even if they're zero. So, unless the data is structured correctly, tax-exempt transactions could still downgrade. And many B2B transactions are tax-exempt. The good news? I've seen some gateways say they're working on developing solutions to ensure these transactions can still qualify. But this is where merchants need to be proactive. If your gateway can't support tax-exempt processing under CEDP, you'll need to find one that can. Because if your transactions don't qualify, your rates will likely go up. The Bigger Picture: An Industry Shake-Up This isn't just a new rate structure; I believe it's a tectonic shift in how processors make money. Many processors have offered to 'optimize' Level 3 data by auto-populating fields for years. They'd help merchants qualify for better rates while keeping 50% to 80% of the savings for themselves. So, for example, if the merchant was charged $10 less, the processor would keep $5 to $8 and pass the rest to the merchant. The new rules will most likely eliminate that revenue stream for the processor. But if there's one lesson I've learned in this industry, it's that they'll find new ways to recover lost revenue, so it will be interesting to watch and see what their next move will be. What Merchants Should Do Now First, check your enterprise resource planning (ERP) or point-of-sale (POS) system. Is it sending the five required fields? More importantly, is that data accurate? Next, talk to your gateway provider. Ask if they can handle tax-exempt transactions under the CEDP rules. You may need to switch before October to avoid getting hit with unnecessary fees if they can't. And finally, watch your merchant statements like a hawk. Especially in the fourth quarter of this year, look for signs that: • You're not getting the new reduced rates • Transactions are downgrading • CEDP participation fees are being added without benefit Remember, it's not just about the rate anymore—it's about validation. And if your data doesn't pass, you may pay more without realizing it. If all this feels overwhelming, you can consider bringing in a professional. Engage a credit card processing audit firm to help you monitor your statements, evaluate your systems and stay ahead of any games being played behind the scenes. Full disclosure: My firm does this, but we're not the only ones. Shop around. Make sure whoever you choose doesn't lock you into a contract and has the experience to back up their claims. LinkedIn is a great place to verify that. Final Thoughts As I see it, Visa has made its move. The question is how the rest of the ecosystem—processors, merchants and software providers—will respond. One thing's for sure: The rules have changed. And if you're not paying attention, you could be paying more. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Entrepreneur
a day ago
- Business
- Entrepreneur
Rising Cybersecurity Demand Drives Kaspersky's India Business Up 24%
Building on this momentum, Kaspersky has significantly strengthened its presence in India by tripling its local headcount over the past two years You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Kaspersky, a leading provider of cybersecurity and data privacy, recorded a 24 per cent year-over-year (YoY) increase in total product sales in India during 2024, driven by strong demand for cyber security solutions in the country. The B2B segment grew 20 per cent, while the B2C segment saw an impressive 30 per cent growth. Notably, Kaspersky Threat Data Feeds, the company's threat intelligence solution designed for large enterprises and SMBs, experienced a YoY growth of over 209 per cent. Additionally, the Endpoint Detection and Response (EDR) Optimum variant recorded a 44 YoY increase. Jaydeep Singh, General Manager for India at Kaspersky said, "The Indian cybersecurity market is one of the top performing markets for Kaspersky in South Asia. We have shown an impressive growth rate across all our target product groups for the country. This signals the fact that Indian users, both in the B2B and B2C segments, are aware of the threat incidents and are willing to take solid cybersecurity measures to protect themselves. This is also underscored by the cybersecurity and digital safety initiatives being taken by the Indian government." "The measures around cyber threat awareness, the DPDP Act and the RBI guidelines for cybersecurity have also helped the users in India understand the critical need for intelligence-led cybersecurity. This has helped us to grow in the market and we are ready to continue this momentum in 2025," he added. Building on this momentum, Kaspersky has significantly strengthened its presence in India by tripling its local headcount over the past two years. The company now operates with a growing team focused on expanding its capabilities across sales, pre-sales, technical support, and customer experience. India is also emerging as a key innovation and intelligence hub for Kaspersky, with regional researchers monitoring over 900 advanced persistent threat (APT) groups daily as part of its global threat tracking infrastructure. Additionally, the India team contributes to digital footprint intelligence (DFI) operations, including brand protection and takedown services, which are increasingly in demand across the region. These investments are part of Kaspersky's strategy to capitalize on India's cybersecurity potential and address the rising volume of threats targeting enterprises and individuals. In 2024 alone, the company saw strong double-digit growth in India, reinforcing its position as a high-priority market within the Asia Pacific region. The year of 2024 also marked the presentation of the company's new flagship product line, Kaspersky Next. The portfolio combines robust endpoint protection with the transparency and speed of EDR (Endpoint Detection and Response) alongside the visibility and powerful tools of XDR (Extended Detection and Response), giving a further boost to the company's B2B ecosystem sales.
Tahawul Tech
2 days ago
- Business
- Tahawul Tech
Opinion: Telecom Operators need a talent strategy to develop solution visionaries
Ramzi Khoury, partner, Amar Akli and Omar Nowaihed, principals, with Strategy& Middle East, part of the PwC network, have co-authored an op-ed, which examines the steps and practices that telecommunications operators need to implement and adopt in order to capitalise on growth opportunities in the business-to-business market. GCC telecom operators can achieve significant growth in the business-to-business market. That business-to-business opportunity is appealing given the broader challenges facing telecom operators, such as the ongoing commoditization of their core services, intense competition, and rigid business models. To achieve this growth, telecom operators should collaborate with their business customers to deploy advanced digital solutions tailored to their industries and sectors. That means becoming trusted advisors, problem-solvers, and essential partners in their business customers' digital journeys. Telecom operators thereby can diversify revenues, protect earnings from connectivity, and become leaders in the region's information and communication technology industry. The market for advanced digital solutions, which combine technologies to transform businesses and deliver exceptional value, is substantial and growing fast. Mordor Intelligence estimates that this market will rise by 24.3% CAGR in the Middle East from 2025 to 2030, reaching $149 billion.[i] Combined with the demand created by artificial intelligence (AI) and the GCC governments' ambitious digital agendas, that presents an inviting opportunity for regional telecom operators. Better yet, GCC telecom operators are uniquely positioned to succeed. They have nationwide infrastructures, serve a broad base of mobile and fixed subscribers, possess unrivalled market knowledge, and have demonstrated a long-term commitment to localization and GCC countries' sovereignty priorities. To put these advantages to work, telecom operators should become solution visionaries. That means going beyond selling connectivity along with other discrete products and services. Instead, telecom operators should act as consultants, developing a deep understanding of their clients' aspirations, strategic goals, and pain points; and collaborating with them to formulate digital strategies. Telecom operators can assist their business clients to transform and modernize how they operate. A telecom operator could assist a port management company to devise a strategy that defines the purpose of port digitization, sets short- and long-term goals, and provides a comprehensive implementation plan. Part of being a solution visionary is creating comprehensive solutions that integrate multiple products and services. Telecom operators can play a vital role in the region's plans for advanced industrial projects. A telecom operator working with a manufacturer could enable the design of a smart factory. This concept would integrate connectivity, cloud computing, data centers, cybersecurity, internet of things (network of connected devices) sensors, industrial platforms, robotic process automation tools, business process automation tools, and system integration. Solution visionaries illustrate and visualize solutions, enabling clients to experience the outcomes, understand value created, and fine tune design. For instance, a telecom operator might simulate an AI-enabled healthcare system to help a government health provider or authority visualize experiences and outcomes for patients, providers and the community. Being a solution visionary means cultivating long-term relationships with clients. Telecom operators could thereby identify strategic opportunities and find ways to unlock value creation, such as through public-private partnerships. A telecom operator might envision, and propose, an overarching digital value proposition for a major exposition. That could include digital twins (such as virtual representations of the exhibitions), connectivity, ticketing systems, and the other elements needed to stage a successful event. Such relationships are about building innovative business models. Telecom operators could offer clients such options as joint ventures and build-operate-transfer agreements, thereby participating in clients' ventures and lowering clients' capital investment costs. A telecom operator might, for example, provide smart signage and parking solutions to a stadium operator in return for a share of the resulting revenues. While telecom operators already possess some necessary advantages for success in advanced digital solutions, they may need to develop the capabilities of solution visionaries, and the internal structure to support them. First, telecom operators should build their product and service portfolios to offer comprehensive digital solutions. For instance, a solution visionary to the logistics industry may require partnering with, or acquiring, other companies so the telecom operator has more offerings in tracking and monitoring, warehouse automation, and smart logistics. Second, telecom operators should create a dedicated, highly entrepreneurial unit. There should be incentive and performance management systems for the staff to be solution visionaries. The telecom operator should empower the unit's leaders to make fast decisions. The unit's structure should support a multi-sector focus emphasizing emerging technologies and a team-based format for selling. As its capabilities mature, all sales teams can adopt a solution visionaries approach, while the unit remains a center of excellence. Third, telecom operators need a talent strategy to develop solution visionaries. That means hiring, developing, and retaining people possessing a strong understanding of technology and business. These people should be capable of a consultative approach to identify opportunities, conceptualize complex solutions, and drive them to the proposal stage. Handling such opportunities typically requires combined expertise of sector and technology experts, business analysts, solution architects, and deal structuring experts. Advanced digital solutions are the next frontier for GCC telecom operators, an opportunity to create uniquely valuable partnerships with their business customers.
Forbes
2 days ago
- Business
- Forbes
How AI Agents Can Help Improve Employee Happiness
Rohan Joshi is the CEO and co-founder of Wolken Software , a leading IT service management and customer service desk software provider. getty When AI was first introduced into the customer service process of global B2B organizations, there was understandable skepticism about how employees would react. Would they worry the tech would replace their jobs? Would fear prevent adoption and limit the potential business benefits? Over the last five years, AI-powered customer service has seen significant growth. In 2021, AI chatbots alone saw a 45% year-over-year increase in use. By 2023, just over two-thirds of consumers were happy with their last chatbot interaction. And customer service employees? It turns out they are satisfied with AI as well. Instead of worry or fear, they have embraced a technology that has increased their job satisfaction and happiness. Since happier employees are more productive employees, how can B2B business leaders harness the power of AI for their customer service teams? AI is extremely powerful, but it is not a magic bullet. Introducing it blindly without a clear strategy and measurable goals in place is a recipe for disaster in terms of both customer satisfaction and customer service employee morale. What can AI do for customer service processes? For B2B organizations, it can address lower-level issues and menial tasks so that human employees can focus on higher value escalations. As a result, smaller problems can be resolved faster to the benefit and satisfaction of both customers and employees. It's useful to view AI as an assistant to customer service agents. The tech can handle smaller issues without the agent needing to get involved. For more complex issues, AI can help human agents resolve issues faster by pulling relevant information in near real time. For customer service employees, AI can enable increased productivity and reduce burnout from repetitive, low-level tasks. Both of these can help lead to happier, more engaged employees and less turnover, which is good for the overall health of the team. With an understanding of what AI can do for B2B customer service teams, the next step is to understand the ways employees might be impacted and how they may need education to use new tools effectively. The use of AI may change former customer service processes, and this change may necessitate some general upskilling. Take data security as an example. Customer service employees should understand which data AI can access and how AI can access it securely and appropriately. Data may be input into a knowledge base for one purpose and AI will unintentionally use it for another purpose. Making sure your customer success teams can understand AI is crucial for them to be able to use it effectively. Step 3: Set expectations at the beginning. As with any major technology implementation, it's important for business leaders to be transparent with employees about what they can expect from the outset. For B2B organizations introducing AI into their customer service stack, this means communicating with the relevant team members early and often about what is changing, as well as when and how it will impact them. Reassure employees that AI is not replacing them. Be clear about the uses of AI in the customer service process and explain the benefits employees can expect from AI support in their day-to-day work. Step 4: Measure and adjust. As with any tech initiative, it's important to measure its impact at regular intervals. If B2B organizations want to ensure AI is having a positive impact on their customer service teams, one of the easiest ways to do this is simply to ask employees. Working with (instead of dictating to) employees about how AI can make their day-to-day jobs easier and more fulfilling is hugely impactful. Surveying employees on the benefits of AI implementation is a relatively low-lift way to get real-time feedback. Another consideration for AI may be how it can help improve the work-life balance for customer service agents. If a server going down over the weekend or during a holiday can be identified and resolved by AI rather than requiring human intervention, employees are less likely to get burnt out by the feeling that they're "always on." Again, asking employees how AI can improve customer service processes and then listening to their feedback can be impactful in increasing happiness and reducing turnover. Step 5: Be flexible and prepared to iterate. When it comes to AI, B2B business leaders can be sure of one thing: the technology will continue to evolve and disrupt business at a breakneck pace. Keep the lines of communication between IT and customer service open so that cross-organizational teams can work together to make sure that the technology is being implemented in ways that keep both end users and customer service agents happy and satisfied. Many B2B companies have seen AI implementations lead to improved customer service scores. While there is still a healthy amount of skepticism about AI among customer service agents, these results can help increase satisfaction at work while fueling new career growth paths through reskilling and upskilling initiatives within their company. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Yahoo
2 days ago
- Business
- Yahoo
Timah Partners Closes US$50M Series A to Address Southeast Asia's SME Succession Crisis
SINGAPORE, June 26, 2025 /PRNewswire/ -- Timah Partners ("Timah"), a Singapore-based permanent holding company focused on acquiring and operating essential, recurring B2B SMEs in Southeast Asia—and developing the next generation of SME leaders through its CEO-in-Training program, announced the close of its US$50 million Series A. The round was backed by a distinctive group of investors, including: Founders of iconic HoldCos: Mitch Rales (Danaher), Nick Howley (TransDigm), and Alex Behring (3G Capital) Pioneers of the modern HoldCo playbook: Will Thorndike and Kent Weaver (Compounding Labs), Rick Buhrman and Paul Buser (Sator Grove) Veteran investors from top-tier investment firms: former and current senior leadership at Insight Partners, Norwest, TCV, and Tiger Global Timah is also supported by a board and advisory group that includes senior leaders from DBS Bank, Grab, Quantedge, Union Energy, Singapore Land Authority, JTC Corporation, the Singapore Government, and the National University of Singapore. Timah was founded by Dennis Chua, a Singaporean who grew up around SMEs and returned home after 15 years in the U.S. to launch Timah Partners. Over his career, he worked with world-class investors and operators—including Goldman Sachs, 3G Capital, Tiger Management, and D.E. Shaw—and helped build, from its earliest days, an investment firm focused on small- to mid-sized businesses. He graduated top of his class from Harvard Business School and Cornell University, and is an alumnus of Raffles Institution. Tackling a quiet crisis unfolding in the region In Singapore, for example, SMEs employ over 70% of the workforce. The population aged 65 and above is set to double over the next two decades, yet only a fraction of SME owners have formal succession plans. Too many great companies risk shutting down—not for lack of value, but for lack of a viable next chapter. A different model for ownership Unlike private equity or search funds, Timah does not buy with the intent to sell. With its permanent capital base and horizon, Timah serves as a long-term, values-driven home for retiring founders' life's work. The firm focuses on high-quality, recurring B2B businesses in the $2–10 million EBITDA range, offering full exits and long-term operational stewardship. Timah emphasizes preserving legacy—not overhauling it. "We're not buying to flip," said Dennis Chua, Founder and CEO. "We acquire businesses to operate and grow them over decades, with no pressure to sell. Our investors built some of the best holding companies in the world, and we're applying those lessons here in Southeast Asia." Learn more about Timah's acquisition criteria: Building the next generation of SME leaders At the heart of Timah's strategy is its CEO-in-Training (CIT) program—a structured, hands-on pathway for emerging operators to rise rapidly to C-suite roles within its portfolio companies. Inspired by Alpine Investors' CIT and Shore Capital's CXO programs, Timah's CIT program is designed to develop entrepreneurial leaders who want to run real businesses, create lasting impact, and build equity within a system designed for their success. "Singapore's SME succession problem isn't just about ownership—it's about leadership," said Chua. "We're building a talent pipeline of operators who are excited about ownership and want to roll up their sleeves to run great real businesses." Applications for the first CIT cohort are now open: About Timah Partners Timah Partners is a permanent holding company built to solve Southeast Asia's SME succession crisis. We acquire and operate high-quality, recurring B2B SMEs—serving as the long-term home for the region's best businesses—while building the next generation of SME leaders through Southeast Asia's first CEO-in-Training program. We're not a fund. We're not flippers. We're builders—committed to permanent stewardship, operational excellence, and deep respect for what founders have built. Learn more at View original content to download multimedia: SOURCE Timah Partners Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
