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Table of Contents

Lead Story

Will smart phones drive out plastic cards?

News

Industry Update

VeriFone expands mobile payment footprint

Is Cimbal's proximity payment network a game changer?

IDC's take on mobile payment schemes

Features

Eight payment companies listed on Inc. 500

Selling Prepaid

Prepaid in brief

Suit the gift card to the merchant

Thom Aldredge
World Gift Card

Views

Cash still standing its ground

Patti Murphy
The Takoma Group

Further fraud trends in 2010

Nicholas Cucci
Network Merchants Inc.

Education

Street SmartsSM:
Are mobile payments a threat to ISOs? - Part 1

Ken Musante
Eureka Payments LLC

The power of word of mouth

Nancy Drexler
Marketing Consultant

Who's your counterparty?

Barry Sloane
Newtek Business Services Inc.

Four things to know about security interests

Sarah Weston
Jaffe, Raitt, Heuer & Weiss PC

Command performance meetings

Dale S. Laszig
Castles Technology Co. Ltd.

Company Profile

Blackhawk Network

New Products

Easy inventory management

ePNInventory
eProcessing Network LLC

Inspiration

If you're in business, you need a plan

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

September 27, 2010  •  Issue 10:09:02

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Forum

Fix that microfinance story

I am a frequent reader of The Green Sheet and usually find information that is useful to pass along to the members of our trade association. However, today in your article, "The United States of microfinance," I found two errors that gave me pause.

The first: "Treasury also plans to redouble efforts to get more recipients of federal payments to accept direct deposit and to enroll those who don't want to deal with banks in a prepaid debit card program using the MasterCard Worldwide Direct Express debit card. More than 12 million benefits recipients have signed up for the Direct Express card since it was introduced in 2008, according to a Treasury spokeswoman."

Treasury is not merely redoubling their efforts to get federal benefits recipients to use direct deposit - they have made it law! As of March 2011, all federal benefits recipients will be required to receive their benefits direct deposited either into bank accounts of their own or into the Direct Express card. Consumer groups are actually lobbying against this restrictive law, as for some people, a paper check is the best instrument for them to use to manage their finances.

The second: "Mango is the brainchild of two brothers, Roy and Bertrand Sosa, who previously founded NetSpend Corp. and sold the prepaid debit card company to Capital One Financial Corp. for a reported $700 million."

While it is true that the Sosas founded NetSpend, they did not sell it to Capital One. The acquisition of NetSpend by Capital One fell through; NetSpend remained independent and changed CEOs. Now NetSpend is in a quiet period awaiting their IPO.

This is the kind of information I expect The Green Sheet to be distributing to readers - not the other way around.

Cynthia Vega
Financial Service Centers of America Inc.

Cynthia,

Thank you for calling the errors in the lead article "The United States of microfinance" to our attention. In addition to printing your correction, we will also see that the HTML online version of the article is corrected.

We endeavor to produce an entirely accurate publication. We regret that we let you down this time and hope it doesn't happen again.

Editor

Statistics wanted

I've just subscribed to your service; I'm looking for industry statistics and information in order to put together a business plan.

Would you be able to direct me to where I could find transaction statistics like number, value, credit card versus debit, average swipe amount by types of retailer (for example, restaurant, gas, groceries)? Anything that could help me develop a forecast - also, any information on the large providers like PayTech and Electronic Payments.

Any help would be greatly appreciated.

Marcel Mercia
Cybersurf Internet Access

Marcel,

Thank you for subscribing to The Green Sheet. We have a wealth of information archived on our website, www.greensheet.com, but we have not organized the type of industry statistics you seek in a central location. But you can develop a good sense for the market by reviewing back issues of the GSQ, a quarterly available on our website for download. Each issue delves into a specific topic, for example, top acquirers, payment security requirements and technology issues.

In addition, a search function, Fast Finder, in the upper left-hand corner of our home page can locate articles in past issues of The Green Sheet that contain relevant information. This will likely be helpful to you in learning about specific companies and markets.

Please note, however, that we are a trade magazine and not a consulting service.

Editor

Call us, write us

Would you like us to cover a particular topic? Is there someone you consider an industry leader? Did you like or dislike a recent article in The Green Sheet? What do you think of our latest GSQ? E-mail your comments and feedback to :greensheet@greensheet.com or call us at 800-757-4441.

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

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