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Table of Contents

Lead Story

Fraud, data breach concerns drive EMV support


Industry Update

Visa, MC allow merchant surcharging

CAPP provides FI security snapshot

ETA promotes Debit AID to assist EMV

NFC Forum SIGs map tech future

Square wins with Verizon, Angie's List

Federal court ruling may impact CFPB


International charity with roots at home

Acquiring Kilimanjaro, an ISO adventure

Mobile marketing and remote mobile payments transform holiday shopping in 2012

Stephen Kiene
First Annapolis Consulting

Research Rundown

Meet The Expert: Biff Matthews

Selling Prepaid

Prepaid in Brief

Plastic Jungle pilots retail gift card exchange

Researcher makes argument against prepaid regulation


Surveying the financial landscape in 2013

Brandes Elitch
CrossCheck Inc.


Street SmartsSM:
Lessons from that first call

Jeff Fortney
Clearent LLC

Confidentiality: A refresher on ISO, MLS obligations

Adam Atlas
Attorney at Law

Sustaining the mPOS (r)evolution

Venkat Kalyanaraman and Sunil Rongala
MRL Posnet Private Ltd.

Small businesses need big data, too

Rick Berry
ABC Mobile Pay Inc.

Company Profile

Super G Funding LLC

New Products

Interactive multilane checkout

iSC Touch 480
Company: Ingenico Inc.

Advanced breach protection

Voltage Secure Stateless Tokenization
Voltage Security Inc.


Take one invigorating step


GS 10 Years Ago

Readers Speak

2013 events calendar

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

February 11, 2013  •  Issue 13:02:01

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Confidentiality: A refresher on ISO, MLS obligations

By Adam Atlas

A processor and two of its ISOs walk into a bar. Only one ISO walks out. What happened to the other ISO? In violation of its confidentiality obligations to the processor, the foolish ISO divulged to the wiser ISO the buy rates set forth under its processing agreement. So the processor terminated the careless ISO right there in the bar, leaving only one ISO standing.

As an ISO or merchant level salesperson (MLS), are you likely to be the one terminated or the one left standing? Adhering to terms of your ISO agreement makes all the difference.

Respecting confidentiality

An older, seasoned lawyer once told me that there is no such thing as a secret. Information tends to zip around pretty quickly these days, but that does not take away from obligations of confidentiality that prohibit the circulation of some of that information. The purpose of this article is to remind readers of several key confidentiality obligations that typically apply to ISO and MLS businesses.

Following are several confidentiality and other concerns to consider. In these examples, the term ISO refers to both ISOs and MLSs:

Like many clauses in ISO agreements, the confidentiality clause is grounded in common sense. Most parties acting in good faith are likely to comply with it, even if they have not read it.

That said, it is worthwhile to read and understand each clause in your ISO agreement, and that's no secret.

In publishing The Green Sheet, neither the author nor the publisher is engaged in rendering legal, accounting or other professional services. If you require legal advice or other expert assistance, seek the services of a competent professional. For further information on this article, email Adam Atlas, Attorney at Law, at or call him at 514-842-0886.

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

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