Thanks for the Memories Dear Mr. Green, I am writing to inform you that, at age 70, I have retired and would feel remiss if you were to continue spending money to send me The Green Sheet. Thank you for many years of a most enjoyable and extremely helpful publication - I must admit to plagiarizing many of your sales tips. Best wishes for many more healthy and productive years. Yours truly, Marvin A. Cohen

Needs ISO/Sales Agents List Do you know of any industry publication that would list all ISO/agent sales offices? David Petry SVP Sales Electronic Data Resources

David: To the best of our knowledge, such a directory has not been published. Our July 2002 issue of GSQ "Feet on the Street" was our most recent report on this sales channel. If you subscribe to The Green Sheet, you would have received the report along with the July 22 issue. Also, our GSQ is now available online at: www.greensheet.com/gsq/ Good Selling!^SM The Green Sheet Staff

Converting to ACH Transaction We were discussing new ways to automate the proof-of-deposit function, and a question was brought up: When a bank accepts a check deposit, could the bank convert the check to an ACH transaction (given that the customer agrees)? Any answers would be appreciated. Bill Robertson Wausau Financial Systems

Bill: In order to get the most accurate answer to your inquiry, we went to the Western Payments Alliance. The Green Sheet, Inc. is an associate member of this association. Associate memberships are available to ISOs. For more information on the Western Payments Alliance, please visit www.wespay.org. Mike Gilchrist, Vice President, Member Services, Western Payments Alliance, says: "If a check were to be mailed to a bank and received at either (1) a lockbox location (i.e., mailed to a P.O. Box) or (2) delivered to a bank "dropbox" located physically at the bank, such checks could be eligible for conversion to ACH debits, provided the provisions of NACHA rules related to Accounts Receivable Entries (ARC format) are followed. "Essentially, NACHA allows conversion of checks drawn on consumer bank accounts (no corporate checks at this time) to ACH debits if they are received in either of the aforementioned ways. Additionally, the rules require that a consumer is provided a notice prior to the conversion that the check (either mailed or delivered) will be converted to an electronic fund transfer. "An example of notice could include signage at the point- of- sale or written disclosure at the time of the transaction, (Regulation E Interpretation, 205.3(b)(3), Authorization of one-time EFT initiated using MICR encoding on a check). The consumer does not need to sign a written authorization for this to take place. "The most common scenario for this format's use today is by large retail billers receiving high volumes of consumer checks in the mail. For other checks deposited by consumers either over the counter or through an ATM deposit, NACHA rules do not provide that these may be converted to ACH debits at this time. "However, NACHA anticipates a pilot program becoming operational during the third quarter of 2002 that would allow deposited and represented truncated check debit entries as a project of NACHA's Electronic Check Council."

Good Selling!^SM

The Green Sheet Staff

Declaration of Independence

Whom do I contact to become a registered ISO with Visa/MasterCard? How does one become an independent contractor with a bank processor? Kevin Williamson Dayton Dynamics, Inc.

Kevin: Please visit our Web site and check out the Industry FAQs. These will answer many of your questions. www.greensheet.com/industryfaq.html. Also, be sure to join the ISO Forum. This is a networking space for sales professionals in our industry. www.greensheet.com/forum Good Selling!^SM The Green Sheet Staff

Online Access

How can I get a subscription for the online version of The Green Sheet and GSQ? Can I also have access to the "Knowledge is Power" section of the Green Sheet Online? Julian H. Bu Lehman Brothers Equity Research

Julian,

No subscription is required to read The Green Sheet online. A free registration is required to read GSQ Online. Knowledge is Power & the Preview Issue are available to subscribers to our print version. The subscription is FREE. Your user ID and password will be sent to you automatically when you register at: www.greensheet.com/subscribe.cgi Also, be sure to also register to read our GSQ Online. We now have this publication available at no charge in PDF format, with in-depth reports on specific topics for the payment processing industry: www.greensheet.com/gsq/ Good Selling!^SM

The Green Sheet Staff

How to Get 'Knowledge is Power'

What do I need to do to sign up for "Knowledge is Power?"

Donald Roberts

Donald,

Please register for your free subscription to The Green Sheet. The user ID & password will be sent to you automatically upon registration. www.greensheet.com/subscribe.cgi Good Selling!^SM

The Green Sheet Staff