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NewsBriefs

Following are excerpts from news stories recently posted under Breaking pandemic. Describing merchants as the lifeblood of his
Industry News on our home page. For links to these and other full news sto- business, Nardy emphasized the need for service providers
ries, please visit www.greensheet.com/breakingnews.php?flag=previous_ to support business owners during this difficult time.
breaking_news. Retailers protest planned interchange changes
Square set to open Utah bank in 2021
Square Inc. is one step closer to becoming a full-scale
financial services provider. The Federal Deposit Insurance
Corp. gave conditional approval for Square to open
an industrial loan company in Utah. The FDIC's order
authorizes Square Financial Services to secure federal
deposit insurance and provides a federal supervisory
structure for operations. The Utah Department of Financial
Services also has agreed to issue a charter for Square.
Travel and tourism brace for deluge of chargebacks Square said it hopes to open in the state next year.
DHS deems ATMs 'critical infrastructure'
The travel and tourism industries have been hit hard by
the coronavirus outbreak, and things are likely to get A memo from the U.S. Department of Homeland Security
worse before they get better. One trend to watch for is an supports leading ATM manufacturers' decisions to remain
anticipated spike in chargebacks as concerned Americans open and help local communities during the COVID-19
put vacation plans on hold only to learn they can't get crisis. The DHS memo included ATM workers as part of
refunds or will incur substantial cancellation fees. "Imagine the country's essential critical infrastructure workforce
you've been saving for a dream vacation, you book the ticket in financial services, granting exclusive rights to workers
and then are forced to cancel [because of concerns about who maintain services and machines to continue their
coronavirus], only to discover the operator has no refund public work, even when state governments have ordered
policy," said Monica Eaton-Cardone, chief operating officer U.S. workers to stay at home to prevent the spread of the
at Chargebacks911. "It's a very unfortunate situation that coronavirus.
could well result in a chargeback claim. There's legitimate
pain on both sides. But consumers shouldn't leverage the Stimulus package aid for ISOs, MLSs, merchants
dispute resolution process to try to get money they don't
deserve." The massive stimulus package could deliver welcome
relief to ISOs, MLSs and their small business clients. The
NAC releases ATM safety guidelines Coronavirus Aid, Relief and Economic Security (CARES)
Act, which garnered near unanimous support in both the
The National ATM Council Inc. released guidance to assist House and the Senate, was signed into law on Fri. March
U.S. independent and retail ATM stakeholders during 27, 2020. The legislation, the largest stimulus package
the coronavirus outbreak. NAC Executive Director Bruce ever enacted by the U.S. government, will inject about $2
Renard thanked ATM manufacturers Hyosung, Genmega trillion into the economy by, among other things, extending
and Triton for offering assistance and staying open unemployment benefits to contract workers and offering
throughout the crisis. "NAC is proud of the thousands of hundreds of billions of dollars in low-cost loans and grants
ATM entrepreneurs across America who are risking their to small businesses.
own health and safety by continuing to make cash widely
available across America as we face this national health
emergency together," Renard said. "Our hats are off to A Also find us on lso find us on FFacebook, acebook,
these brave and dedicated men and women who continue L LinkedIn & inkedIn & TTwitter for the witter for the
supplying the cash that makes America's economic engine
most up-to-date stories, t up-to-date stories,
run daily." mos
can’t miss events and newest an’t miss events and newest
c
Tech leaders bring hope, resources to SMBs
ind
industry announcements.ustry announcements.
Payments industry leaders are adding value and context to
the Coronavirus Preparedness and Response Supplemental
Appropriations Act, an $8.3 billion dollar package signed
into law in early March. Recognizing that small and
midsize merchants need more than just cash to weather
current economic uncertainty, commerce leaders are
offering unprecedented levels of resources, support and h https://www.facebook.com/TheGreenSheetIncttps://www.facebook.com/TheGreenSheetInc
leadership to U.S. communities and businesses. Michael
Nardy, founder and CEO of Electronic Payments, stated that h https://www.linkedin.com/company/the-green-sheetttps://www.linkedin.com/company/the-green-sheet
his company will waive certain fees and charges to help h https://twitter.com/The_Green_Sheetttps://twitter.com/The_Green_Sheet
merchants obtain emergency funding during the global
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