The Western States Acquirers Association (WSAA) conference in Scottsdale brought together leaders in payments and merchant services, but this year felt different. While conversations about rates, VAMP, M&A, regulations, and hardware were still present, from our lens, they were overshadowed by a more strategic topic: the growing role of data and AI in shaping the future of financial services.
We saw a clear shift in mindset. Payments previously have been treated as a utility. But as competition tightens and businesses seek new avenues for growth, they are realizing that transaction data is a valuable asset, not just a byproduct of a sale. The question on everyone’s mind wasn't just "how fast can we process a payment?" but rather, "what can this transaction tell us about our customer and our business?" Businesses are grappling with how to make sense of the sheer volume of data flowing from their payments and other systems.
From data points to business decisions
This is where custom software and data solutions become essential. We spoke with business owners at the conference who have reached a critical inflection point, seeking ways to scale their operations and improve efficiency. They understand that off-the-shelf solutions aren't always enough. Many need to build systems that can:
- Integrate diverse data sources, from payment gateways to data warehouses, to create a unified view of their business.
- Analyze transaction patterns to identify opportunities for revenue growth and risk management.
- Automate routine tasks and provide real-time visibility into key performance indicators.
The conversation is shifting from simply having data to having a strategy and the enabling infrastructure to drive tangible business outcomes. We've seen this firsthand. Proxet’s work with Aurora Payments involved building a modern platform that integrates multiple legacy systems, enabling them to understand each client and end-user experience, and offer seamless, cost-effective payment processing and real-time data visibility.
Navigating a new financial technology landscape
Another key observation at WSAA was the challenge of managing a complex technology stack. We heard from companies who are currently evaluating their cloud and data platforms. Decisions about which providers to partner with — and how to handle expiring contracts — are a significant source of both cost and complexity.
This highlights the need for a thoughtful approach to system architecture. It's not about replacing one vendor with another; it's about building a flexible, scalable, and secure foundation that can support growth without being bogged down by technical debt. This is where advanced platforms, for example Palantir, can unify data and apply advanced analytics, are beginning to play a crucial role.
A new kind of partnership
Ultimately, the most exciting part of WSAA — aside from golfing and socializing! — was seeing the demand for a different kind of partnership. It's no longer just about building a payment processing tool. It’s about finding a technology partner who can help solve strategic business problems. Partners that can:
- Build cutting-edge tools that deliver real value to the merchant.
- Provide sophisticated data and AI solutions that can inform business strategy.
- Deliver secure, scalable platforms that can support explosive growth.
The future of payments belongs to those who see beyond the transaction and recognize the intelligence behind it.