Over the past year, we've had the pleasure of publishing a number of articles by contributing writers on the distinctions between surcharging consumers who pay for goods and services with credit cards and offering discounts to those who pay with cash. And we've received reports from readers who've indicated certain merchants who have instituted cash discounts are achieving impressive results.
So we decided to put this promising option front and center, so ISOs and merchant level salespeople (MLSs) who are not offering cash discount programs can consider more fully whether some of their customers might benefit from them. This issue's lead article details the pros and cons of each type of program, where surcharging is and isn't legal, how to follow guidelines to properly implement a cash discount program, and what types of merchants are most likely to derive benefits from offering them. For a variety of reasons, cash discounts aren't for every business, but some are using them to bring their card processing costs close to zero.
Fraudsters are always on the hunt for valuable new targets, and one contributing writer pointed out why loyalty and rewards programs are very much in their sights today. Others discussed the scope and potential impacts of the new California Consumer Privacy Act (further analysis of this will follow in our Sept. 24 issue); how damaging it can be to place your trust in the wrong person or company; the many things you can learn from doing practice sales presentations; and how persistence in the payments biz pays off, especially for those new to the industry.
Along with new product and company profiles, previews of upcoming events, and brief updates on individual and company milestones, we've highlighted several recent news stories: the FBI's warning of an impending global ATM cash-out blitz, the many payment companies that were featured on the 2018 Inc. 5000 list, the 2,300 data breaches publicly disclosed in the first half of this year, exposing 2.6 billion consumer records; update on the Francisco Partners' acquisition of Verifone; and security experts' call for better detection and updates ad cyberattacks escalate. For current breaking news, please visit www.greensheet.com.
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