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decade ago, The Green Sheet reported on the partnership between check guarantee provider CrossCheck Inc. and ISO National Processing Co., First Data's legal battles with Visa Inc., and the receivership of Certified Merchant Services Ltd. But those stories weren't the only news in December 2002.
The quick-service restaurant sector was just implementing electronic payments, becoming one of the last major market segments to adopt the technology. McDonald's, Burger King, Wendy's, Kentucky Fried Chicken, Long John Silver and Subway planned on jumping on the plastic bandwagon beginning in 2003.
The inaugural ATM Industry Association Summit & Awards took place in San Diego. A highlight of the event was a slide presentation of "sophisticated" fraud devices, including the "Lebanese Loop" and ATM overlays that featured false fronts to cash traps and entry-door skimmers.
A Kennewick, Wash., man bounced a $4.43 check for a meal at Wendy's. Subsequently, the restaurant chain's collection agency sued the man for $285.50 (the amount of the check plus collection, handling, attorney fees and interest). "This is crazy for a cheeseburger," the man said.
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