Editor's note:Ralph Dangelmaier is the CEO of BlueSnap, a global payment technology company. The views expressed in this article are solely those of the author.

Across conversations, panels, and events during the fall conference season, several key themes emerged that may offer insights into the future of payments. Here are four key takeaways:

1. Merchants need help keeping up with payment innovation

Merchants aspiring to have the global reach of e-commerce giants like Amazon, Alibaba, and Walmart must continuously evolve their payment capabilities just as they refine their products. This means partnering with payment service providers that can help them support new currencies and payment methods as they emerge.

In a panel at Money20/20, executives from Square, PayPal, and Citibank summed it up well: the more payment methods you accept, the more opportunities you have to reach global customers.

2. Cross-border payment friction can drag down growth

This cannot be overstated: with 63% of U.S. retailers currently having international customers and 42% of U.S. consumers shopping overseas, merchants, enterprises, and independent software vendors (ISVs) must work together to accept the widest possible range of payment options.

At Money20/20, a panel on the future of merchant payments, moderated by representatives from Walmart, Home Depot, and Discover, highlighted the importance of a digital-first approach. Additionally, a session led by David Messenger, CEO of LianLian Global, delved into the significance of localization. In the U.S., it's easy to forget that while Visa and Mastercard are accepted globally, they are not the dominant payment players in many parts of the world. For example, in China, Alipay, UnionPay, and Tenpay are the market leaders.

3. Processing payments in the right context can save costs

Many merchants, enterprises, and ISVs are unaware that they can reduce or even avoid interchange fees, especially in areas like e-commerce, software, and B2B services where international customers are critical.

First, they should explore payment routing, a specialized payment capability that provides access to any number of global banks through a single connection. Unlike the past, when retailers had to obtain merchant accounts in each country or region through a single connection and account, intelligent routing sends transactions to local banks where they have the highest probability of approval at the lowest cost. This can prevent merchants from losing international customers due to eroded margins or higher prices.

4. Stay informed to remain competitive

Payments themselves are a product that requires ongoing investment. If merchants, enterprises, or ISVs lack the internal resources or personnel to keep their payment options up to date, they should seek partners who can help.

Keeping these recommendations in mind may help various companies in the payments space stay on track for success in 2020.