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Table of Contents

Lead Story

Warning: Merchants turning up the heat on interchange


Industry Update

Wal-Mart banks on the underbanked

MasterCard wins injunction against Visa

A new, happy tune for GS Online


GS Advisory Board:
Value-adds: Recipe for success? Part I

Coinstar and the unbanked

Marvin Lazaro
Kiosk Marketplace and Self-Service World

The symmetry of sponsorship

Industry Leader

John McCormick –
Sharing many kinds of riches


PayPal: 21st century cash

Patti Murphy
The Takoma Group

Spot-on sales savvy

Steve Schwimmer
Renaissance Merchant Services

Kicking the horse we all rode in on

Biff Matthews
CardWare International


Street SmartsSM:
Veritably valuable added services

Dee Karawadra
Impact PaySystem

The lowdown on locked documents

Adam Atlas
Attorney at Law

Shape up those level 4 merchants - now

Ken Musante
Humboldt Merchant Services

10 keys to unlocking your million-dollar portfolio

Jason Felts
Advanced Merchant Services Inc.

What do your customers say about you?

Joel and Rachael Rydbeck
Nubrek Inc.

Company Profile

Central Point Resources Inc.

New Products

POS equipment fit for royalty

EZPROX, Vega9300 and Vega7000
Castles Technology Co. Ltd.

A gift-bearing kiosk

Reward and Gift Card Kiosk
Pay By Touch


Are you living in current reality?


Resource Guide


A Bigger Thing

The Green Sheet Online Edition

June 25, 2007  •  Issue 07:06:02

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Are you living in current reality?

Facts do not cease to exist because they are ignored.  - Aldous Huxley

Imagine driving 20 miles in rush-hour traffic to find a boutique you planned to visit had closed 15 minutes before you arrived. You didn't call the shop in advance or check its Web site to verify the hours. After all, you'd been there last year, and it closed at 9 p.m.

What about this situation? You fly to Florida in April and don't pack a coat because as a youth, you vacationed there in April, and you frolicked comfortably on the beach in a swimsuit.

However, this time the plane approaches the airport, and the pilot announces the temperature on the ground is a cool 40 degrees.

Or, imagine taking a potential client to dinner at a bistro and waiting 90 minutes for a table, while other groups with reservations are seated within minutes of their arrival.

You didn't call the eatery in advance even though it had recently received an excellent review in the local paper: The last time you'd dined there, the bistro had refused to take reservations.

What do these scenarios have in common? In each case, incorrect, outdated information was applied to a new situation, and the results were far from desirable.

The boutique had new hours, and you were closed out; the weather changed, and you were uncomfortably cold because you weren't prepared; the bistro had a new policy, and you strained a new business relationship.

What you don't know can cause troubles. But sometimes things you think you know that turn out to be incorrect can cause even worse problems. When making decisions, it's best to put assumptions aside and find the necessary, up-to-date facts.

Stay informed

Our industry moves at breakneck speed. Regulations, technologies, companies, products and even applicable laws continually change. Therefore, it is vital we frequently update our industry knowledge.

Rather than assume that nothing has changed, we need to be sure that our information is current and accurate.

Here are some of the areas in which we all need to stay abreast:

Usually, we base our decisions on our own experiences or the experiences of others whom we know. And we assume information that was valid last week remains valid today.

We think that because others are doing something a certain way, that must be the only way to do it.

And, we are lazy. Instead of taking an extra five minutes to check into something, we wing it.

But, saving five minutes now can be very costly later. So, be sure you know the pertinent facts before you take action in any given situation.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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