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Letter from the editors

ore than ever before, the U.S. payments
system has multiple moving parts, each
striving for maximum efficiency and
M market share. Along with endeavoring
to ensure the security of payments, facilitating faster
payments continues to be a major goal. The automated
clearing house (ACH) network, created in the 1970s
as a semi-electronic alternative to check payments, is
fully electronic now, but has lagged behind in trans-
action settlement speed. In 2016, however, the ACH
made strides by embarking upon a transition to same-
day settlement. This issue's lead article details recent
progress made toward faster payments and what the
ramifications are likely to be.
Technology is at the heart of payments, and one of our
contributing writers focuses on fintech, naming several
developments in 2016 that are likely to influence our
sector in 2017 and beyond. The new U.S. presidential
administration's appearance on this list won't come as
a surprise, but others making the cut, such as the EU-
U.S. Privacy Shield, might provide food for thought.

Additional contributions from industry experts offer
an expanded view of equipment leasing's place in the
industry, that is, if you think beyond POS terminals
and stake a claim in capital equipment leasing; what
to keep in mind from a legal perspective in today's
entirely electronic world, where "secret" and "off the
record" may no longer apply; and the importance of not
leapfrogging over important steps when developing
new products and services.

In keeping with our commitment to support the
organizations that offer resources to the industry's feet
on the street, the news section presents highlights from
the Northeast Acquirers Association's 2017 meeting, as
well as significant points covered in the PCI Security
Standards Council's new ecommerce guidelines. Also
in the news is coverage of the Consumer Financial
Protection Bureau's prepaid regulations and efforts in
Congress to derail them, as well as a look at the Arby's
breach disclosed Feb. 9. For additional news stories
posted online, see the Breaking Industry News section
of our homepage, www.greensheet.com.

Don't forget to check out the news briefs in Industry
Update, as well as the profiles, new product stories and
other department features. Remember, we welcome
press releases about your company and career
milestones, post them under News From the Wire
on our home page, and draw from them as sources
for stories and briefs. So keep your news coming to
press@greensheet.com. Please also send your feedback to
greensheet@greensheet.com.

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