In this episode of ILLUMINATOR, Joe sat down with Jordan McKee, Research Director at 451 Research, to explore the hidden complexity of Payments. Together, they reveal the intricate processes behind every card swipe or online purchase you make, unraveling the web of technologies and key players that make payments seamless. Jordan also sheds light on how payments are evolving into a strategic differentiator for businesses, covering topics like false declines, fraud prevention, artificial intelligence, embedded payments, and the importance of modernizing payment infrastructure. Tune in for insights on optimizing payments and the future of financial technology!Resources and References* 2023 Trustpair Survey that found 96% of businesses were targeted by at least one fraud attempt (https://trustpair.com/blog/fraud-trends-in-2024-nacha-advisory-board-members-expert-tips/)* FTC 2023 Consumer Sentinel Network Data Book stats showing $10B lost to fraud in 2023 (https://www.ftc.gov/business-guidance/blog/2024/02/facts-about-fraud-ftc-what-it-means-your-business) * EU study on PDS2 results (https://op.europa.eu/en/publication-detail/-/publication/f6f80336-a3aa-11ed-b508-01aa75ed71a1/language-en)* Summary resource explaining the payments landscape (https://stripe.com/resources/more/payment-processing-explained)* Jordan’s LinkedIn (https://www.linkedin.com/in/jordanmckee/)* Jordan’s Forbes contributions (https://www.forbes.com/sites/jordanmckee/)* Jordan’s research page (https://451research.com/analyst-team/analyst/Jordan+Mckee)Thanks for listening!