Retailers push for interchange reform – again
he debate over interchange regulation continues. Most recently, the National Retail Federation took issue with the failure of the newest version of the financial services reform bill to tackle the contentious topic. The NRF argued that the proposed consumer protection bill is not complete without addressing the rising costs of interchange for merchants and, by proxy, consumers.
March 22, 2010 • Issue 10:03:02
GS Issue 10:03:02 – Lead Story
Light alleviating a dark decline
As we are all aware, the U.S. economic scene has been fairly grim for the past several years, but many analysts say the economy is beginning an upswing, though modest it may be. This article examines some of the brighter bits of economic news to emerge in recent months, providing hope for a long-term recovery.
GS Issue 10:03:02 – News
Legislative outlook: Interchange bills less likely than ID fraud rules
The legislative lookout for payment acquiring is mixed. Lawmakers are taking a cue from the industry on the issue of data security, while the debate over interchange has resurfaced amid rumors that at least one high-profile senator is considering new legislation.
GS Issue 10:03:02 – News
First Data's composite security system - a game changer?
First Data launched a pilot security program, involving about 400 merchants, under which it is deploying a multipronged security architecture combining encryption and tokenization. Will this program prove a benchmark in the industry's long-standing fight against data theft?
GS Issue 10:03:02 – Advisory Board
Positive economic signs and actions - Part 1
Economic tides seem to be turning, albeit slowly. So The Green Sheet asked members of our advisory board for their thoughts on four questions concerning their ability to cope with the economic tumult. This article contains the first portion of their responses. The remainder will be printed subsequently in The Green Sheet.
GS Issue 10:03:02 – Features
Online banking in Canada:
What happens next?
The Canadian online banking industry is in constant movement and modernizing rapidly. This article examines developments identified as potential market changers and revenue generators in the Canadian banking and finance sector and evaluates their potential impact on the online banking industry within the next five to 15 years.
GS Issue 10:03:02 – Selling Prepaid
Win-win scenarios abound at Prepaid Expo
A prevailing theme among speech makers at the Prepaid Expo USA 2010, held in Las Vegas in February, concerned the potential for prepaid cards to lift up financially underserved individuals worldwide, while allowing industry stakeholders to flourish at the same time. Among the speakers? Former President Bill Clinton.
GS Issue 10:03:02 – Views
Are banks losing grip on payments?
A movement among consumers to boycott big banks and move their business to alternative financial institutions like community banks and credit unions is catching on. Some states are considering giving state-chartered financial institutions priority consideration when bidding on state contracts. What does it all mean for the acquiring sector?
GS Issue 10:03:02 – Views
Those who decide to build a merchant services company will experience the good and the bad that come with running your own business. Many business owners will face the question: is it better to grow my business through outside sales representatives or have inside sales representatives calling on merchants to procure business?
GS Issue 10:03:02 – Views
Payments industry issues:
First quarter 2010
It seems change is coming faster and faster, as every month brings new issues to the fore in the payments industry. This article discusses a few of them, from credit card reform to the entrepreneurship that the coming years will require of ISOs.
GS Issue 10:03:02 – Street Smarts
Few are able to create long-term sustainable income in the bankcard industry. Those who have made a lifelong career selling merchant services are to be commended; it is not easy but is well worth the journey. In their final column, our Street Smarts authors reflect on their year as magazine columnists and on their role in the merchant services industry.
GS Issue 10:03:02 – Education
Police warn of new skimming devices
Police throughout the nation are warning cardholders that tech-savvy thieves are stepping up their game and swiping customers' hard-earned money through increasingly sophisticated skimming devices. These devices, which are smaller than cell phones, can be placed on ATMs or used by untrustworthy employees to steal sensitive data.
GS Issue 10:03:02 – Education
Even die-hard laggards have been dragged kicking and screaming into the mobile age, in which access to friends, colleagues, e-mail, Internet search and social networking is only a mouse click away. For merchant level salespeople who aren't ahead of the curve, in what ways can the Internet be used as a profit center?
GS Issue 10:03:02 – Education
Digging into PCI - Part 9:
Restrict physical access to cardholder data
This installment of a multipart series on the Payment Card Industry (PCI) Data Security Standard (DSS) drills down on the ninth of the PCI's 12 requirements. Requirement 9 is the third and final PCI section on access control; this requirement is the least technical of those, focusing on physical security.
GS Issue 10:03:02 – Inspiration
Unleash the power of networking
Networking is a very real and necessary part of marketing for any type of business or idea. The amazing thing about networking is you can do it successfully without scaring off your friends and family. Here are a number of ways you can unleash that power.