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The Green Sheet Online Edition

March 09, 2015 • Issue 15:03:01

Readers Speak

An incomplete chart

It has come to our attention that a line was missing from a chart included in "Advances in data, automation speed merchant boarding," by Matt Ward-Steinman and published in The Green Sheet Feb. 23, 2015, issue 15:02:02. Here is the text in the article introducing the graphic, along with the chart itself as it should have appeared:

By using APIs and relevant data, the European PSP is now able to preliminarily approve 61 percent of new applications, quickly decline 25 percent and manually review 14 percent. Enhancing the process helped decrease the time needed to review 3,000 new merchant applications by 93 percent, while maintaining current acceptance levels (See Figure 1).

European PSP Monthly applications
requiring manual review
Manual review minutes
per application
Total hours
per month
Pre-existing process 3,000 30 1,500
With automation 420 15 105
Time savings 86% 50% 93%

The online versions of this article have been corrected. Unfortunately, the issue had already gone to press when the missing line came to light, so we could not update the print version. The Green Sheet regrets the error.

What tradeshows are you attending this year?

We'll soon be working on our March 23 issue, which will be on display at the ETA's upcoming Transact 15 show at San Francisco's Moscone Center from March 31 through April 2. Will you be attending that show or other industry events coming up? Tell us why or why not. And remember, we always welcome feedback at greensheet@greensheet.com. end of article

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