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Breaking Industry News – Friday, June 14, 2019

Spec's court challenge ends badly for First Data

U.S. merchant acquirers and processors are reacting to the June 7, 2019, decision by the U.S. District Court of Appeals for the Western District of Tennessee, which held First Data Corp. liable for damages stemming from two data breaches at Spec's Family Partners Ltd., a liquor store chain and First Data merchant.

The unanimous decision by District Court Judges Batchelder, Cook and Kethledge, found that even though Spec's had failed to comply with PCI security standards, which left its stores vulnerable to hackers, First Data's decision to freeze millions of dollars in credit card receivables violated the terms of the merchant's processing agreement.

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Spotlight Innovators

The Green SheetOnline Edition – Issue 19:06:01

Learn more, earn more with training

By Dale S. Laszig

Training initiatives for merchant level salespeople (MLSs) reflect a growing interest in payments best practices and self-governance. The Green Sheet published a two-part series on payments education in June 2017: "Training turns tactical in payments biz," in issue 17:06:01, reviewed approaches to in-house training; "Tapping into payments' goldmine," in issue 17:06:02, explored industry course offerings and certifications. In this article, program designers and participants offer perspectives on leveraging professional development programs.

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The Green Sheet It’s Showtime!

Featured Shows

Merchant Sales Podcast Merchant Sales Podcast #45
Statement Analysis Made Simple

Learn about the value of simplified statement analysis, cash discounting and exit plans This week James describes how agents can provide prospective merchants with price quotes, instantly, without ever having to request statements. Plus Patti explains the importance of exit strategies and James reviews the case for cash discounting.

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South Seas Data LLC.

Company profile from GS190601

The business of machines

Founded in 1992, South Seas Data LLC began serving the money transfer industry as a supplier to First Data Corp. Since then, Englewood, Colo.-based SSD has continued to provide custom service solutions to Fortune 500 companies in the technology market, with a concentration on replacement and maintenance solutions for POS terminals and personal computing hardware.

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