Banking on Innovation: The Evolution of Payments with Tom Lineen of WestTown Payments | PEP044

The Payments Experts Podcast

Tom Lineen brings 25 years of payments industry wisdom to the table as he unpacks how WestTown Payments (https://www.WestTownpayments.com/) is transforming merchant services through banking integration. Having started at AuthorizeNet in 2000 as the 29th employee, Tom has witnessed firsthand the evolution from clearly defined industry roles to today's interconnected ecosystem.
The conversation explores how Tom recognized an opportunity to partner with community banks that possessed direct card brand memberships but lacked the expertise to maximize their potential. This vision materialized in March 2020 when, despite pandemic uncertainty, WestTown Bank and Trust embraced his joint venture proposal. Unlike traditional sponsor relationships where banks and ISOs operate at arm's length, WestTown Payments became fully integrated with the bank, ensuring complete alignment on compliance and customer service priorities.
Tom reveals how this structure proved particularly valuable when WestTown Bank was acquired by DART Bank in 2023. Through careful planning, they achieved a seamless transition where merchants experienced zero disruption—continuing to receive deposits and process transactions without interruption. This customer-first approach exemplifies the community banking philosophy that distinguishes their service model from national banks.
The podcast delves into specialized verticals, particularly hemp and CBD processing, where WestTown's integrated bank model provides compliant solutions that national institutions won't touch. Looking forward, Tom shares his vision for DART 360, a comprehensive platform offering merchants access to checking accounts, loans, working capital, and other banking services alongside payment processing. This evolution represents the future for ISOs competing against Square and Toast—bundling financial services to transform thin-margin payment relationships into robust, multi-faceted partnerships.
Industry professionals will appreciate Tom's insights on the upcoming Visa VAMP program changes scheduled for October 2023, which threaten to reshape the acquiring landscape, particularly for high-risk merchants. Connect with Tom on LinkedIn to learn more about how WestTown Payments can help payment professionals navigate today's evolving marketplace.

**Matters discussed are all opinions and do not constitute legal advice. All events or likeness to real people and events is a coincidence.**

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A payments podcast of Global Legal Law Firm

Chapters

1. Introduction to Dual Pricing Evolution (00:00:00)

2. Tom Laninen's Background in Payments (00:03:15)

3. Westtown Payments Origin Story (00:08:35)

4. Bank Acquisition and Seamless Transition (00:16:12)

5. Combined Solutions and Banking Integration (00:26:01)

6. Industry Challenges and VAMP Program (00:32:15)

7. ISO Evolution and Competitive Landscape (00:46:12)

8. Closing Thoughts and Future Outlook (00:55:49)