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Letter from the editor

hile the U.S. District Court for the
Eastern District of New York scuttled
the proposed $30 billion settlement that
W would have finally put to rest a long-
standing lawsuit filed by a class of merchants against
Visa and Mastercard, Illinois legislators responded to
merchants' complaints about rising interchange fees by
taking matters into their own hands. They passed legis-
lation, slated to go into effect in July 2025, that prohibits
interchange assessments on sales taxes and gratuities.
Other states are already contemplating similar steps.
This could lead to a snowball effect of laws promul-
gated across the United States, each with a different
set of requirements. A potential nightmare scenario
for merchants and acquirers. This issue's lead article
discusses the Illinois law; similar legislation being con-
sidered in Pennsylvania, Florida and Georgia; efforts
by the Electronic Transactions Association and others
to discourage state lawmakers from passing legisla-
tion affecting the payments industry without adequate
knowledge of how the industry works; and the need to Bridge the Gap
ramp up efforts to educate legislators.
between your
Also inside are highlights from recent news coverage
including research that indicates digital payments con- advertising dollars
tinue to gain steam, but fraud remains a troubling, per-
sistent problem; findings that faster payments are ben- and bottom line
efiting the underbanked population; Apple discontinu-
ing its in-house buy now, pay later service, Apple Pay
Later, in favor of installment payment plans through Customized advertising campaigns
third-party lenders; and, sadly, a heartfelt farewell to to fit any size company and budget.
Marc Beauchamp, founder of Bankcard Life and long-
time partner of The Green Sheet, who passed away • Spotlight Innovators’ Pages
June 15, 2024. His integrity, passion, and generosity left
a significant mark on colleagues, friends and family, (frequently updated content)
and his legacy of leading by example will be remem- • Print (various size options)
bered by all who knew him.
• Resource Guide listing
Like Marc, contributors to this issue share a desire (print/online/front page options)
to give others a helping hand through sharing their
knowledge and expertise. Topics they've discussed in • Email Blasts (to GS readership)
the current issue include the recently rejected $30 bil-
lion settlement between merchants and the major card • Online (website/twice month newsletter)
brands; the benefits of self-ordering kiosks; why re-
gional shows are particularly important for MLSs; why • Video
fintechs must adhere to the same compliance obliga- • Bundled advertisng campaign discounts
tions as banks; and revolutionizing decision-making
with payments data. Be sure to check out our updates
on recent partnerships, research, acquisitions, appoint- Rick Aston
ments and other milestones, along with profiles, Re-
source Guide and other resources tailored for those ea- Senior Media Partnership Specialist
ger to advance their industry knowledge. Please share
your news in press releases to press@greensheet.com, 707-284-1693
and send your comments and questions to greensheet@
greensheet.com.
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