February 23, 2017-Today, the Merchant Advisory Group (MAG) announced the formation of a Digital Commerce Task Force focused on online and mobile commerce.
U.S. digital sales have quadrupled in the past decade accounting for over 10% of total retail sales, and they continue to grow at a rapid pace. As customers seek shopping experiences that offer more convenience, the retail community has introduced new service models to deliver on those evolving customer expectations, and it is critical the payments ecosystem keep pace with these changing dynamics.
Educating the marketplace on the convergence of in-person and digital commerce to ensure the proper incentives exist for U.S. merchants, issuers, and other stakeholders to bring forward the best digital experiences for our customers will be a top priority for the Digital Task Force in 2017.
Currently, card network acceptance rules have merchants who conduct digital remote commerce footing the majority of the costs and fraud prevention investment for online payment acceptance, while also bearing the majority of fraud losses. The Digital Task Force will focus heavily on moving the industry away from outdated terminology and transaction classifications, such as card-not-present, and will encourage stakeholders to take a more contemporary view of digital transactions.
The MAG seeks active support from our merchant members to help the organization move this task force initiative forward through collaboration with critical stakeholders. If you are a MAG merchant member and are interested in participating in this task force, please reach out to either Liz.Garner@merchantadvisorygroup.org or Laura.Townsend@merchantadvisorygroup.org.