In this week's episode, James Shepherd shares a framework he calls the The Merchant Lifecycle which is the journey a merchant takes from stand-alone payments to a sub-vertical specific integration. Understanding this journey is the key to adding sustainable portfolio value whether you are an acquirer, ISO, merchant level sales person or even ISV. James discusses the role of each organization in this lifecycle and the importance of recognizes your place in the process and establishing the right partnerships to succeed long term.