The Green Sheet Online Edition
March 9, 2026 • 26:03:01
Letter from the editor
For anyone who thinks checks are relics, this issue's lead article shows that payment methods do not evolve along straight lines. Checks once dominated non-cash payments, and while their use has declined dramatically, they haven’t vanished. Instead, the check system reinvented itself, moving from trucks, airplanes and bundles of paper to an image-based network that operates largely behind the scenes. This look back at the evolution of checks offers both a bit of payments nostalgia and a reminder that even the oldest payment methods can adapt.
While the story of checks reminds us how payment systems evolve over time, the rest of this issue examines several forces reshaping the industry today. Contributors explore how regulation, technology and changing business models are redefining relationships across the payments ecosystem. One article examines Illinois’ Interchange Fee Prohibition Act, which survived a court challenge and now sets the stage for a July 1 implementation deadline requiring significant adjustments from networks, processors and merchants. Others look at the evolving dynamics between ISOs and independent software vendors, including what happens when software partners are acquired or begin competing directly for the same merchants. Additional contributions address the operational risks of relying heavily on a single POS platform, the importance of durable infrastructure amid the AI boom, and how stronger digital payment safeguards can help alternative lenders reduce fraud and build borrower trust.
Alongside these expert perspectives, our news coverage highlights several developments currently shaping the payments landscape. In Illinois, a federal court decision upholding the state’s interchange restrictions is prompting networks, issuers and merchants to prepare for potential operational changes. Internationally, European policymakers are exploring ways to reduce reliance on Visa and Mastercard as part of a broader push for payments sovereignty. Other reports examine the possible impact of a proposed federal 10 percent credit card APR cap, the growing threat of ATM jackpotting attacks, and New York’s move to establish one of the nation’s most comprehensive regulatory frameworks for buy now, pay later providers.
Be sure to check out our continuing coverage of new research, partnerships, acquisitions, executive appointments and other developments shaping the payments and fintech industries. You’ll also find product and spotlight profiles, and additional features and resources designed to inform you and support your professional growth. As always, we welcome your comments and story ideas at greensheet@greensheet.com, and invite you to share press releases with us at press@greensheet.com. 
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