Over the past decade, core payments processing has become commoditized, squeezing the margins of merchant acquirers. Their future growth is likely to come from providing merchants with value-added services and solutions for enabling e-commerce. Merchants are increasingly willing to pay for commerce-enablement services, such as loyalty programs, gift cards, and affiliate marketing, as well as for payments performance improvements such as enhanced authorization rates and chargeback mitigation. What’s more, enterprises that have scaled globally or digitally are prepared to pay a premium for sophisticated multi-country processors, local support, enhanced reconciliation, payments-adjacent services, and better payments performance in general. This shift is even more pronounced…