The Green Sheet Online Edition
July 7, 2012 • 12:07:01
10 Years ago in The Green Sheet
In July 2002, developments in the payments industry shaped the industry we see today. PayPal Inc. had only been four years in existence and yet had captured the attention of New York state bank regulators. Like PayPal, VeriFone Inc. was in growth mode. And bankcard fraud at restaurants was leading to the introduction of tabletop POS terminals.
PayPal deemed legal
New York State's Department of Financial Services, then called the New York Banking Department, reviewed PayPal's business model and concluded the alternative payment provider, which would be acquired by eBay Inc. that October, was not engaged in illegal banking activities.
VeriFone gets capital infusion
Chicago-based private equity investment firm GTCR Golder Rauner LLC reaffirmed its confidence in VeriFone by planning to increase its investment in, and recapitalization of, the POS device manufacturer.
South Florida called skimming hotspot
The U.S. Secret Service said credit card skimming was the fastest growing form of fraud and that South Florida was the "skimming capital of America." The agency estimated that one in five South Floridians had been defrauded, primarily through card skimming schemes at restaurants.
Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.
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