GS Online Origins

ow long has The Green Sheet Online been around? What about the MLS Forum?

kagtdthomas

kagtdthomas:

We launched GS Online (www.greensheet.com) in September 1995. We introduced the MLS Forum about the same time. We have continually worked to improve and strengthen the Web site and the Forum since their inceptions. GS Online has been recognized with several Communications Concepts Inc. Awards for Publication Excellence (APEX) for content, design and navigation.

Editor

FlexCache Releases Merchants From Gift Card Ties

I would like to first point out that the cover story for your Dec. 13, 2004 issue titled, "Opportunities in Prepaid Cards," (The Green Sheet, issue 04:12:01) should also have listed Paymentech's outstanding FlexCache system as a processor for prepaid cards.

Additionally, Steve Eazell is quoted stating that gift cards are an excellent merchant retention tool because "If I'm a merchant, I cannot switch processors (without a lot of trouble) until every single solitary gift card has come back to my store."

I would like to point out to all merchant level salespeople (MLSs) that Paymentech is one of the few gift card processors in the industry that has a proven conversion process allowing merchants to transfer their gift card portfolio without the inconvenience that Mr. Eazell and your article allude to. So if a merchant is not satisfied with their current gift card processor, there really is no need for them to feel they are held hostage by an inability to move their portfolio without impact to their gift cardholders. It can easily be done.

Barbara H. Griffith, PMP
Paymentech LP

Wanted: Company to Audit How ISOs Pay Residuals

Here's a topic that should be addressed in "Street Smarts" and/or by Paul Green: This industry needs an independent auditing company to monitor those companies that want to certify that they're being truthful in residual reporting. MLSs need to be informed as to what revenue streams they are being paid on and the ones that they are not, and what formulas are being employed in making all calculations for these tables. I feel agents would steer away from shady companies that are not willing to be members of this independent organization, and that this would bring our industry to a level of legitimacy it does not currently enjoy. Any thoughts?

Dan Christopher
Card Payment Solutions

Dan: This is an interesting idea, although it's well outside the purview of "Street Smarts." Also, please note that the terms of an ISO agreement with a bank are confidential, as any contract between two entities would be. Both entities would have to agree to an audit and which firm would be engaged. Perhaps ISOs will want to request that a "transparency clause" be included in their agreement with the bank, which would enable an audit to be performed. This was a standard part of the original ISO agreement between AMCOR and its bank in 1983. Editor