Page 5 - GS240801

Letter from the editor

fter learning of a new Illinois state law that
prohibits interchange assessments on sales
taxes and gratuities, and the likelihood
A that other states will follow with similar
laws, we asked members of The Green Sheet Advisory
Board to explore the repercussions of such laws. We
Howdy
wanted to know: 1) the likely impact of scattered state Howdy
laws immediately and long-term on merchants, con-
sumers and payments enterprises; 2) the feasibility of
Y’all!
implementing such legislation; and 3) the effectiveness Y’all!
of lawmakers' attempts to prevent rising payment-
acceptance costs and how payments professionals can
collaborate for better legislation.

This issue's lead article contains the first portion of
their responses. You'll also find additional expert per-
spectives on a range of issues within these pages. These
include a discussion of what we are really talking about
when we talk about "smart data," since data in itself
isn't really smart; a reminder that whether you're brand
new to the payments business or a payments veteran,
it's essential to avoid doing business with bad actors I’m working hard to help you increase
rk
e
e
as
o
u incr
o he
d t
l
o
p y
r
m w
I
’
g ha
in
that can forever taint your reputation; why merchant
your bottom line today!
level salespeople, who have been telling merchants to y o ur b o t t o m line t o d a y!
meet customers where they are for a long time, need
to meet merchants on every channel, including social
ull
N
o B
media; and Visa's desire to enable a solution where in- No Bull
stead of storing a single payment token, a credential is
stored, and you can select your payment method at the
time of the transaction. Customized advertising campaigns
to fit any size company and budget.
The news we've highlighted includes the U.S. Supreme
Court's decision to allow a North Dakota merchant to • Spotlight Innovators’ Pages
sue the Federal Reserve over debit card interchange
caps, even though the merchant opened after the stat- (frequently updated content)
ute of limitations had expired; Target's announcement
that it no longer accepts personal checks at the POS, • Print (various size options)
citing "extremely low volumes"; Discover's proposed • Resource Guide listing
$1.2 billion settlement in a class-action lawsuit with
merchants and acquirers alleging overcharges due to (print/online/front page options)
"card product misclassification" from 2007 to 2017; and • Email Blasts (to GS readership)
the Consumer Bankers Association contesting of a Wall
Street Journal article suggesting bankers are overreact- • Online (website/twice monthly magazine)
ing to a Federal Reserve proposal to reduce debit card
interchange fees. • Video
• Bundle advertisng campaign discounts*
You also find herein details on events sponsored by
the Prepaid Press, the PCI Security Standards Council,
Money20/20 and PayTech women, along with profiles Rick Aston
and updates on recent milestones in our sphere.
Senior Media Partnership Specialist
To send us news of your latest developments, please
707-284-1693
email a press release to press@greensheet.com. For ques- 707-284-1693
tions and comments, drop us a line at greensheet@green-
sheet.com.
5