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Letter from

the editors

iven how interconnected all regions of the
world are today, and how some U.S. com-
panies are profiting handsomely by doing
G business in foreign markets, many in the
acquiring space have begun to stake claims in markets
outside of the United States. The lead article in this issue
is the first in a two-part series devoted to merchant
acquiring in the international arena.

First, we delve into the business climates in Canada
and Europe, which are popular entry points for
payment companies beginning to venture outside of the
United States. It appears developing markets present a
tremendous opportunity, as do merchants who do not
want national borders to hinder their ability to sell their
products and services. In our next issue, we will delve
into the rewards and challenges of doing business in the
BRIC nations of Brazil, Russia, India and China.

With our sights on expansion, it is paramount to select
the right people to fulfill the roles that are emerging
in our organizations. In this issue, our contributing
writers have discussed factors that arise when forming
a sales team, detailed the inner workings of the hiring
and training process, as well as illuminated the pros
and cons of establishing a direct (in-house) sales team.
Another aspect of the changing payment landscape
addressed is how the widespread effort to innovate has
taken a bite out of the major card brand networks' share
of the payment pie.

On the regulatory and rules front, our contributing
writers have given us a heads up on money transmitter
regulations that could, in certain circumstances, require
ISOs to become licensed as such; explored the likely
impact of Visa's changes to its Fixed Acquirer Network
Fee; and provided advice on the multiple practical and
operational issues involved when applying to become a
Merchant Limited Purpose Bank in the state of Georgia.

On the news front, you'll find herein coverage of the
ongoing effects of the 2013 Target Corp. breach, the
portent of Facebook's apparent decision to launch a
money transfer service in Ireland, and prepaid card
strategies that have proven to be effective in promoting
loyalty and incremental lifts in sales. In addition, we've
included coverage of new products of interest, company
profiles, business milestones, research, partnerships,
appointments and more.

Please send your feedback to greensheet@greensheet.com
or 800-757-4441. And send your press releases to press@
greensheet.com. We look forward to hearing from you.

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