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Letter from the editors

n an action designed to help India eliminate
bribery and black market sales, the country's
government removed 80 percent of banknotes
I from its payments system. Nothing so dramatic
is going to happen in the United States, at least not in
the foreseeable future, but it's worth watching because
this move could hasten the global transition to digital
payments. Most people in India who were accustomed
to making payments with the now obsolete banknotes
are shifting to various mobile payment options, skip-
ping plastic cards entirely.

This issue's lead article examines India's bold move
and the various digital payment methods coming to
the fore in that market, discusses the issues involved
when U.S. payment businesses seek to enter the Indian,
Chinese and other foreign markets, and explores why
some companies seeking to expand globally decide to
partner with established experts rather than attempt
to navigate each country's distinct rules, regulations
and preferred payment methods.
Helping merchants expand their businesses globally is
one way enterprising merchant level salespeople could
distinguish themselves. Other ways of specializing
in today's complex marketplace are recapped in this
issue's Street Smarts column. Our contributing
SM
writers also delve into essential legal considerations
for the popular payfac acquiring model, the need for
fintech innovations to present a real value proposition,
and the wisdom of putting merchants first and
merchant services second.

News stories that made it into print cover Clearent's
acquisition of Payment Alliance International's
merchant card portfolio, the recent intrusion into
Verifone's corporate network, continuation of the
Mastercard-Oracle joint cross-channel initiative, and
legal actions taken by the DoJ, SEC and iPayment
against former executives of the company. You'll find
additional news stories under Breaking Industry
News at www.greensheet.com. You'll also see briefs
on new milestones, awards, partnerships, research,
acquisitions and appointments in Industry Update.
As always, we've included company and individual
profiles, new product stories and news on advances
in the mobile sphere. And, sadly, we've included a
farewell tribute to payment veteran Gary Payne on our
Readers Speak page. A long-time friend and colleague
of the McCormick family, he passed away in February.

It is with gratitude that we present this issue to
you, dear readers. Thank you for the questions and
suggestions you provide to help us continue to assist
in educating and informing the payments industry's
feet on the street. Keep sending your feedback to
greensheet@greensheet.com, and send your news to
press@greensheet.com.

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