Page 10 - GS220902

NewsBriefs

This article contains excerpts from news stories recently posted under The report seems to ignore an important distinction,
Breaking Industry News on our homepage. For links to these and other however. "Apple Pay is just a wallet, or wrapper, not an
full news stories, please visit www.greensheet.com/breakingnews.php. actual payment method," noted industry consultant
Don Apgar. Apple Pay and Google Pay transactions are
branded mobile payments; Mastercard and Visa are
branded payment networks.
ETA, policymakers to meet on Capitol Hill
The Electronic Transactions Association’s annual
Fintech Policy Forum, set for Sept. 22, 2022, will engage
payments industry stakeholders and government officials
in substantive discussions on trending fintech and
regulatory topics. The event will facilitate networking and
meaningful dialog among federal and state lawmakers
and payments industry leaders, ETA representatives
Block sued over 2021 breach stated.

Block Inc., the parent of Square, is being sued for negligence Jodie Kelley, CEO of the ETA, noted forum participants
leading to a December 2021 breach of its Cash App will directly engage with officials from the Office of the
Investing service. The breach resulted in the unauthorized Comptroller of the Currency, Federal Reserve Board and
release of personal information on 8.2 million users to Consumer Financial Protection Bureau. “ETA’s annual
an ex-employee. The class-action lawsuit, filed Aug. 23, Fintech Policy Forum showcases leading payments
2022 in the U.S. District Court for the Northern District executives and policymakers discussing the cutting edge
of California, accuses Block and Cash App Investing of of payments and policy,“ she said.
lax security leading to the former employee downloading
sensitive customer information after leaving Block's Kelley further noted the event is aimed at developing a
employ. constructive policy climate that encourages innovation
while protecting consumers.
Coincidentally, the lawsuit was filed on the same day
the Washington Post published details of an explosive Gun shops to get unique MCC
whistleblower complaint against Twitter by its former
security chief, Peiter Zatko, a white-hat hacker who goes An international standards group approved a new
by the moniker Mudge. merchant category code (MCC) for gun shops—a move
that has been hailed by gun control advocates and drawn
Congratulations to the 2022 Inc. 5000 honorees the ire of gun advocates. Right now, gun shops are not
treated as a separate category of merchants, unlike, for
Several payments companies were named to the much- example grocery stores and cigar stores. Typically they
anticipated 2022 Inc. 5000 list, some for the second or are categorized as sellers of durable goods or specialty
third consecutive time. The prestigious list represents retailers.
a unique look at the most successful companies within
the U.S. economy's dynamic privately owned businesses. The new MCC applies only to merchants whose primary
Companies on the 2022 Inc. 5000 are ranked according to business is sales of firearms and ammunition. Big box
percentage revenue growth from 2018 to 2021. retailers that also sell guns are not affected. Proponents
have said the new MCC will help stem the tide of gun
To qualify, companies must have been founded and violence. A decision regarding the new MCC was
generating revenue by March 31, 2018. Among those who announced last week by the International Organizations
made the list are DCCS, iCheckGateyway.com, Maverick for Standardization, (ISO). Visa, Mastercard and American
Payments, Park Hub, PayBright and VizyPay. The full list Express have all said they will comply.
is available at www.inc.com/inc5000/2022.

It's a mixed bag for Apple
F
b
o find us o
o
o
k,
n
ac
e
ls
A new report out of the United Kingdom claims that Apple A Also find us on Facebook,
T
r the
e
w
n &
r f
ke
o
dI
in
i
t
t
Pay is now more popular than Mastercard. Meanwhile, L LinkedIn & Twitter for the
here in the United States, a proposed class action lawsuit is
most up-to-date stories,
challenging Apple's control of the tap-and-pay iOS mobile mos t u p-t o-d a t e s t o ri es,
nd ne
t
n
a
c
t miss e
ts a
e
w
n
v
es
’
wallet market. TradingPlatforms.com, a London-based can’t miss events and newest
education and comparison platform for online traders,
e
ind
us
t
nno
y a
n
ts.
unc
r
me
reported that Apple Pay "has surpassed Mastercard as the industry announcements.
payment system handling the most annual transactions at
over $6 billion."
10
tI
ee
n
nS
eG
h
r
ee
w
s://w
.f
w
e
c
boo
k.c
m/Th
h
https://www.facebook.com/TheGreenSheetInc c
ttp
a
o
ee
w
n-s
ttp
ee
h https://www.linkedin.com/company/the-green-sheet t
w
s://w
h
.l
n.c
o
i
n
o
m
m/c
pa
n
e-g
r
i
y/t
ed
h
k
tt
i
r
e
w
h
https://twitter.com/The_Green_Sheet t
s://t
ttp
n_S
ee
ee
h
r
o
.c
e_G
m/Th