The Green Sheet Online Edition

January 1, 2013 • 13:01:02

GS 10 Years Ago

Much like today, merchants were attempting to limit processing fees at a time of high unemployment and lackluster holiday sales. Online sales were on track to generate billions in revenue, the major card issuers continued to wrangle in court over fees, and the ETA was preparing to move to the nation's capital.

Holiday retailsales mixed

With unemployment at an eight-year high of 6 percent, and same-store sales in November and December 2002 up just 0.5 percent, merchants were reeling from the worst performance since 1970, when tracking of same-store sales began. However, online spending rang up $13.8 billion, 28 percent more than the $10.8 billion spent online the previous holiday season.

Seven-year legal battle continues

A protracted lawsuit between Visa Inc. and MasterCard Worldwide and Wal-Mart Stores Inc. and millions of retailers, scheduled for trial April 28, 2003, found the two sides in court Jan. 13 for a summary judgment hearing to discuss allegations the card companies violated antitrust laws by forcing merchants to accept more costly offline debit cards.

ETA heads to Washington

The Electronic Transactions Association made a bold decision to relocate to Washington, D.C., after its office lease in Kansas City, Mo., expired at the end of June. "Washington was selected because it will give the association better access to government officials, policymakers and high-caliber job applicants," said Mary Gerdts, ETA President at the time.

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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