The Green Sheet Online Edition
January 14, 2013 • Issue 13:01:01
Brandes Elitch, Director of Partner Acquisition for CrossCheck Inc. and a frequent contributor to The Green Sheet, received the following note from an appreciative reader:
Just a quick note to tell you that while I have been receiving The Green Sheet for probably over 20 years now, I still find it a valuable read. I sit copies on my briefcase and take them with me to read on business flights.
While I usually see a news article or two of interest, I often times clip out articles written by you, Patti Murphy or Jeff Fortney for later reference or to forward on to others. Please congratulate Paul and his staff for continuing to put together a relevant collection of payments information and sales observations, and ask them to keep up the good work.
iStream Financial Services
Thank you, Chet, for your supportive words. And many thanks to Brandes, Patti, Jeff and the other fine contributing writers who do so much to make The Green Sheet the sustained and valuable resource it is. Brandes' and Jeff's latest articles are in this issue on pages 38 and 58, respectively.
New product buzz
Staff writer Ann Train, who has been covering our New Products beat, received the following note pertaining to "More leads in less time," published in The Green Sheet Dec. 24, 2012, issue 12:12:02.
I just received my first call off the article in your publication. Great article! We really appreciate the exposure, and we will do everything to deliver a high quality of service for your readers. ... I want to express my thanks for a job well done.
Live Reps Call Center
Thank you, Steve, for taking the time to appreciate our work. We wish you the best in serving the needs of the payments industry's feet on the street.
From GS Online's MLS Forum
The premier online network for payment pros
EMV cost versus liability
Following are some thoughts on the transition to Europay/MasterCard/Visa-card acceptance voiced by members of GS Online's MLS Forum in the thread titled "EMV and Durbin - a New Mess."
I am in an area where there is a lot of international activity - in hotels and restaurants, some retail. Right now there is very little fraud of this type going on; we see all the chargeback activity. So with little to no fraud, why are merchants going to run out and get EMV terminals - and to top this off, most of these places are using POS systems and I have yet to see any of them release anything that has EMV.
One of the big gaps in trying to gauge the ROI on EMV implementation, both for ATM and POS, is that the issuers won't disclose what their fraud losses are or have been. So a liability shift is forthcoming, but nobody knows in terms of dollars what the potential impact of that might be. Are you spending $100 to prevent $1 in fraud losses or $1,000 in fraud losses? Nobody knows.
EMV terminals are available for less than $200 brand new in boxes, dual-comms. Why on earth would any merchant not make a $200 investment, when one chargeback could easily cost the entire $200 plus? PCI compliance fees over a few years for nothing (just a SAQ) cost more than that.
Is there an assumption here that all chargebacks will go away with EMV? Merchants who buy a terminal today for EMV, and then still have to use the mag stripe for all their purchases may find they are questioning their sales person closely. ... I certainly wouldn't pitch the chargeback provision today until that abundance of cards becomes commonplace.
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