Page 5 - GS181102

Letter from the editors

ast December we did a lead story on the state
of payments in the evolving cannabis market.
We noted that since marijuana and other can-
L nabis products were illegal under federal law,
federal regulators had the power to shut down banks
and credit unions that knowingly do business with can-
nabis dispensaries, even if it's legal in the jurisdictions
where they operate. We also mentioned the Federal Time is
Reserve had rejected applications for interbank clear-
ing accounts for financial institutions that want to serve
cannabis businesses, and the card companies deemed running out
transactions from cannabis retailers to be off limits.

We explored what kinds of workarounds were being
pursued to make it safer to do business in the cannabis
sphere while also remaining lawful. In this issue's lead
article we revisited this vertical to provide an update
on where progress has been made and where obstacles
remain entrenched. According to FinCEN, about 400
banks and credit unions were "actively" servicing
cannabis businesses as of late March. While this was up
20 percent from 2017, it's a mere fraction of the 16,000-
plus federally regulated banks and credit unions
operating in the United States.

Overcoming obstacles requires creativity, and the
payments industry exhibits that in spades. For
example, contributing writers offered insights on
the multiple innovations on display at the recent
Money 20/20 conference in Las Vegas; the Square
effect and what to do about it; how to turn technology Call Danielle NOW
into a competitive edge for your organization; the
surcharging opportunity clarified by Visa's bulletin to lock in 2018
on cash discounts; guidelines for reaping the benefits advertising rates
found in reciprocal prospecting; and how to use stories
to grab people's attention, distinguish yourself and for 2019.
your company, and enhance your brand.

Our recent news stories provide a slice of payments
today. They include reports on U.S. Payments Forum Customized advertising campaigns
guidelines for dual-interface contact/contactless card to fit any size company and budget.
issuance, Canadian card acceptance, and mass transit Bundle advertisng campaign discounts*
service implementation; a data breach at R.W. Bowker;
and barriers payments analysts see to implementing
faster payments and real-time interbank settlement;
and more. We've also included the new product Danielle Thorpe
and company profiles, and updates on executive
appointments, acquisitions, partnerships, research, and AVP Media Partnerships
other company and individual milestones in payments.
707-284-1686
By the time you read this, Thanksgiving will have come
and gone. We'll be in the midst of the 2018 holiday season.
We wish you the best in the weeks ahead. Please take a
moment to send feedback to greensheet@greensheet.com, Your bottom line will thank you.
and email press releases to press@greensheet.com.

5