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NewsBriefs

Editor's note: Following are excerpts from news stories we've covered and networks from cyberattacks and other threats. This
recently. For the full stories and additional breaking industry news posted looks like good news for ISOs, merchant level salespeople
on our home page, please visit www.greensheet.com/breakingnews. (MLSs) and the merchants they serve.
php?flag=previous_breaking_news.
"Small businesses are critical to our economic strength,
building America's future, and helping the United States
CFPB seeks input on small business lending compete in today's global marketplace," said FTC Acting
On May 10, 2017, the Consumer Financial Protection Bureau Chairman Maureen Ohlhausen, who spearheaded
said it had "launched an inquiry into ways to gather and development of the new resource. "This innovative new
use new and existing information to identify the financing website is a one-stop shop where small businesses can find
needs of small businesses, especially those owned by information to protect themselves from scammers and
women and minorities." The 2010 Dodd-Frank Act, which hackers, as well as resources they can use if they are hit
established the CFPB, requires the bureau to collect data with a cyberattack."
about small business lending to help identify needs and Sage to sell U.S. payments business
opportunities in the market and to facilitate enforcement of
fair lending laws. U.K.-based Sage Group PLC confirmed during a May 3,
2017, earnings call that it will divest its U.S.-based Sage
"Small businesses fuel America's economic engine, create Payment Solutions division. The news follows word in
jobs, and nurture communities," said CFPB Director December that a potential sale was under review, which is
Richard Cordray. "Yet little is known about how well the part of a global strategy executed by Sage Chief Executive
lending market serves their financing needs. This inquiry Officer Stephen Kelly.
will help us learn how we can best fulfill our duty to collect
and report information on small business lending." Sage noted that after a strategic review, its North American
payments business is "now classified as an asset held for
First Data brings Alipay to U.S. merchants sale and a discontinued operation." Although growth in

On May 8, 2017, First Data Corp. expanded its relationship Canada remained strong at 9 percent, slower recurring
with Alipay, becoming the first payments technology revenue growth in the United States lowered overall
company to implement Alipay at the POS for U.S. businesses growth in its North American segment to 5 percent for the
on a scalable basis. Following a successful pilot in California six-month period that just ended.
and New York, First Data will now embark on initial rollout PayPal service targets SMBs
of Alipay at U.S.-based First Data Clover-direct merchant
locations. This is expected to take four to five months to PayPal's Business in a Box launched May 1, 2017, during
complete. National Small Business Week. It is a comprehensive set
of resources and services for small and midsize business
Alipay, owned by Ant Financial Services Group, with an (SMB) owners.
estimated 450 million registered users ranks second behind
PayPal in number of mobile wallet users. At this point, the The solution includes social media support by
new payment option will primarily target the 4 million WooCommerce and online accounting services by Xero Ltd.
Chinese tourists who visit the states each year. PayPal said the service is part of a broad objective to serve
the small business community through financial services
FTC website helps SMBs avoid scams, cyber attacks and tools to help them start and grow their businesses.
The Federal Trade Commission reported that it launched
ftc.gov/SmallBusiness, a new website containing articles, Startup businesses don't always have the web design
videos and other information compiled to help small capabilities to develop an online store or know how to set
business owners avoid scams and protect their computers up online or POS payment methods, PayPal representatives
stated. PayPal Business in a Box is designed to solve these
logistical challenges while helping merchants manage
We are dedicated to the finances, obtain a real-time view of cash flow and acquire
customers through an online store.
education and success of the IBM, Verizon jointly attack cybercrime

ISO and MLS. Verizon Communications Inc. disclosed May 2, 2017, that
it will sell its cloud and managed hosting services to IBM
Corp. for an undisclosed sum. The agreement is part of an
ongoing effort to help Verizon customers securely connect
to their cloud-based resources and solutions, said George
Fischer, Senior Vice President and Group President at
Verizon Enterprise Solutions.

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