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Education

Are ISOs right for virtual The best way to become involved in sales of
currency processing sales?
virtual currency processing is to own some
ISOs are more than simple sales
organizations – they are merchant virtual currency.
educators. Who better to teach
(and profit from) virtual currency
processing than the same ISO that In publishing The Green Sheet, neither the author nor the publisher is engaged in render-
has handled processing for a given ing legal, accounting or other professional services. If you require legal advice or other
merchant for years already? The ISO expert assistance, seek the services of a competent professional. For further information
is perfectly suited to provide advice on this article, email Adam Atlas, Attorney at Law, at atlas@adamatlas.com or call him
on the interplay between real and at 514-842-0886.
virtual currency processing.

If only to educate merchants as to
what virtual currency is, I think ISOs
will generate value in their merchant
relationships.
How do I get started?

The best way to become involved in
sales of virtual currency processing
is to own some virtual currency. Pick
one, download a wallet in which you
can store it and buy some from a duly
licensed provider. Get a feel for what
it is and how easily it can be obtained
and used. This knowledge is the tip
of the iceberg into a growing number
of opportunities in virtual currency.

Naturally, you must be careful and
know whether the entities you
deal with are permitted to operate
the businesses they operate. Quiz
new providers on the federal and
state registration and licensing
situation, and ask them if they have
anti-money laundering programs.
Review merchant sites that use their
processing services.

Virtual currency processing is not
for everyone – certainly not for those
who are unaware of the legal context
and requirements.

But knowledge of virtual currency
is mandatory for acquiring ISOs so
they can see around the corner at
what will be one more gadget on the
cluttered merchant countertop – real
estate that ISOs know better than
anyone.

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