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TSG in Digital Transactions: Womply Data Show How the Coronavirus Has KO’d Many Merchants

Jared Drieling, senior director of consulting and market intelligence at Omaha, Neb.-based merchant-acquiring consulting firm The Strawhecker Group, says the damage the coronavirus is inflicting on consumer spending shows that now might be a good time for acquirers, independent software vendors and other payments providers that have specialized in lucrative but narrow merchant niches to consider diversifying.

“What we’re seeing today is that a lot of those folks that had specialization in certain industries are taking the brunt of it,” Drieling tells Digital Transactions News. “I think they’re going [back] to the drawing board pretty quickly, trying to understand how to pivot in this environment.”

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