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Letter from the editors:
ack in 2002, Pay By Touch was a startup on
the rise. Its biometric payment alternative was
touted as both convenient for consumers and
B secure for merchants because its fingerprint
scanning technology offered unique user authentication
and security. By 2007, the company was 700 employees
strong and had placed fingerprint scanners in 2,400
retail locations nationwide, including those of several
large grocery store chains and Shell Oil.

But in March 2008 – troubled by bankruptcy and lawsuit
filings that a $9 million emergency loan from investors
could not remedy – Pay By Touch ended its operations
and sold off its assets. It seems Pay By Touch's biometric
technology was a solution before its time.
Not so today. Mobile payments are opening a new
avenue for biometric-based security solutions. This
is evidenced by Apple Inc.'s inclusion of a fingerprint
scanner in its recently released iPhone 5S. And the fact
that hackers were able to penetrate the scanner shortly
after its debut does not appear to have diminished the
promise of biometrics as a viable authentication method
for mobile device users. This issue's lead article explores
today's mobile payment security arena and asks,
what will replace the inadequate user name and PIN
commonly used today?

Our contributing writers have addressed different
aspects of payment security, as well, including Europay/
MasterCard/Visa technology's effectiveness in fighting
fraud, how to run a successful PCI program and the
perils of a "checkbox" approach to PCI compliance. And
articles especially for the industry's feet on the street
address the rationale for a consultative approach to sales
and what it takes to foster customer longevity.

Our regular departments round out the issue with
industry news and research; company announcements,
partnerships, acquisitions and appointments; a company
profile, and a little advice on boosting customer retention.

Also, we're hard at work on our next quarterly, GSQ. It
is devoted to checks – yes, checks. If you think they're
outmoded, we disagree. Electronic improvements to
the check payment system have eliminated much of
the paper associated with checks, but their demise is
definitely not imminent.

As always, we'd love to hear what you think we're doing
well and what you'd like to see us do even better. And
if you have questions or comments for us, please get in
touch via email at greensheet@greensheet.com or by phone
at 800-757-4441. To post a press release, please email
your news to press@greensheet.com.

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