Expansion Advocate ...

How about a Bank Management Forum, Processor Management Forum and Registered ISO Owners Forum? Right now the Forum on www.greensheet.com is dominated by Merchant Level Salespeople.

Jeffrey Katz

President

Mercury Payment Systems

Dear Jeffrey:

Over the years, GS has been as much a mission as it has been a publication. GS has existed historically to serve both the ISO and the MLS; however, the ISO line has become very blurred. While First Data clearly is an ISO, as are Lynk and many others who do not wish to be placed in this category, the GS mission remains focused on those who produce sales in the "Payment" marketplace, rather than "non-banks" who provide back-office or acquiring services.

While our mission statement says we offer "Motivation, Inspiration, and Actionable Advice" to the MLS in the market, we certainly include the registered ISO. In serving these sales professionals, GS not only strives to provide information on a wide range of income opportunities, but we also work to provide a voice and a forum - a voice that, for lack of a forum, may otherwise go unheard.

You make an interesting point about the domination of Merchant Level Salespeople in the GS online forum, and interestingly there is a more subtle point: that, in many cases, the sales reps see the registered ISO as the "problem" against which they need to speak.

We like your idea about a Registered ISO Forum, and we will seek to implement it ASAP. While we believe that bank managers and processors are already served by other publications within the industry, we will vet this idea and see if it too has any legs. Look for our announcement shortly.

Editor .

.. But Not a Survey Advocate

Paul,

I have held The Green Sheet in high regard and have considered your publication a trusted source of information - until now. I am very concerned about how your recent survey was conducted.

I strongly question the integrity of the survey since I have personally used one of the processors listed and have had nothing but NIGHTMARES with EVERY contract submitted. I withdrew my business months ago only to be contacted with apologies and promises.

I tried the processor's services again only to find that the NIGHTMARE was still in full force, changes were not in action, and it was worse than before. I have spoken with multiple agents and have found that my issues are not isolated. Everyone I've talked to has the same problems.

Annette Gardner

Capitol eCommerce Systems

Annette:

For years our readership has requested that we attempt this type of "ranking." This was not a scientific survey, and we believe that we made the methodology quite clear in our reporting. The rankings were the opinion of those who chose to respond.

Editor

Correction

The amount of money that commercial banks lost because of check fraud in 2001, according to the American Bankers Association, was reported incorrectly in the June 23, 2003 issue (03:06:02) of The Green Sheet. The amount was $700 million.