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Payments Technology
Steve Cole A Closer Look at ISO 20022
Mar 22, 2023For most of the last 40 years, the payments industry has primarily relied on the ISO 8583 standard for processing payment transactions. More recently another standard, ISO 20022, has begun making appearances in certain payment applications in the U.S. ISO 20022 is a global standard for exchanging electronic financial messages of all sorts. While it may seem to many that 20022 is a new standard, it has actually been around for almost two decades being first published by ISO in 2004 and has been adopted in a number of countries around the globe.
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Conference Update
Andrea Rouse MAG Mid-Year Conference and Tech Forum was THE Place to Be
Mar 8, 2023MAG’s conferences continue to grow! With nearly 900 merchants and sponsors in attendance, we once again surpassed previous in-person attendance numbers for our Mid-Year Conference & Tech Forum. The amount of active networking throughout the event created a palpable buzz - supporting the fact that MAG Conferences are the ‘can’t-miss-event’ in the payments industry.
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International Perspective
Dhun Karai The True Cost of Buy Now Pay Later
Feb 13, 2023The Buy Now Pay Later (BNPL) industry appears to be on the brink of a shake-up. On the surface, the deal is simple: consumers have a way to split their purchase into multiple payments over time, and merchants pay service fees to the providers. In theory, the flexibility should drive additional sales to retailers, but is this model the best idea for both consumers and retailers? In this article, Grant Thornton Australia’s Merchant Payments Advisory lead, Partner Dhun Karai, outlines the current BNPL challenges and what the proposed tightening of regulations and increasing consumer discontent might translate to for merchants. She encourages merchants to speak up about their wishes for the future of BNPL products to protect both shoppers and merchants from escalating costs and increase the attractiveness for both sides of the retail industry.
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Evolution in Payments
Eric Vescera Building the Next Generation of Payments Leaders
Feb 10, 2023We all dream of that day in our professional careers when we hang up our hat and enjoy retirement by relaxing on a beach, partaking in an early morning tee time, spending time with our grandchildren, or taking up tennis lessons. For some, that might be sooner than we think. For others, maybe decades away still.
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Board Member Corner
Jamie Henry Payments, Technology, and the MAG
Jan 5, 2023Payments and technology have changed at a blistering pace in the last 20 years. Today, merchants face many challenges in keeping up with the latest changes in both payments and technology. How do we keep our customers happy, our systems safe, and our costs low all at the same time? Merchants simply cannot be complacent in any of these areas critical to success. But we also should not chase every shiny new payment process or technology that catches our eye. What is a merchant to do?
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Innovate Now
Chris Storbeck Focus On Innovation
Jan 4, 2023First off, I am excited to have recently joined the MAG and look forward to meeting and working with all of you. Over the last twenty years, I have been fortunate to work for organizations such as InComm, MCX, and most recently FIS where I focused on Real Time Payments. As we grow our innovation efforts and tech engagement, I want to leverage my industry experience as well as my time as a MAG sponsor to develop our opportunities.
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Education
Leah Collins MAG releases new eLearning course focused on debit routing!
Dec 29, 2022The Merchant Advisory Group is excited to officially introduce Merchant Payments 205: An Exploration of Debit Routing. The new eLearning course covers maximizing the economic opportunities of an effective debit routing strategy through learning how to Interpret the US debit market, implement a debit routing strategy with appropriate processes and controls, understand the basics for completing a technical implementation of debit routing, and identify potential obstacles and considerations.
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Membership Update
Kristi Simonett Getting Involved with the MAG
Dec 22, 2022Welcome to our new MAG merchant members, an impressive group of 26 merchants, as well as 25 new MAG sponsors! There are many ways to make the most of your MAG Membership or Sponsorship, and we hope you will engage with us in 2023!
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Board Chair Update
Kathy Hanna Payments…“Life in the Fast Lane”
Dec 20, 2022As we approach the end of another year, the speed of change in the payments industry is not slowing down. Many areas of change are accelerating to address issues in the continuing growth of digital payments.
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What's up in Washington
Beth Provenzano Payments Policy is Having a Major Moment
Nov 9, 2022The Federal Reserve Board Releases the Long-Anticipated Debit Routing Clarification; Bipartisan, Bicameral Credit Card Competition Legislation Introduced
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CEO Update
John Drechny Creating a Competitive Payments Landscape
Nov 4, 2022A primary goal of the MAG has always been to foster competition in the payments industry. Many people have asked me what this means and what MAG has done to achieve this goal.
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MAG MEMBER HIGHLIGHT
From Student to Teacher in Payments
MAG SPONSOR HIGHLIGHT
Oliver Wyman — The CFPB and BNPL: Perspectives on New Report
NEWS FROM OUR SPONSORS
Mar 23, 2023
Alviere — Alviere Unveils Innovative Promotional Card Program to Revolutionize Customer Loyalty
Mar 23, 2023
W. Capra Consulting Group — What does the Kroger-Albertsons merger have to do with a Retail Media Network and why does this matter for retailers?
Mar 9, 2023
Pagos Solutions — Pagos raises $34M as the demand for ‘payment intelligence’ rises
Mar 8, 2023
TreviPay — Taking on the Digital Invoicing and Payments Revolution” Webinar
Mar 7, 2023
Carat from Fiserv — Carat from Fiserv Introduces First-to-Market Capabilities to Help Enterprises Optimize Delivery Services
Mar 7, 2023
Spreedly — Spreedly Expands Payment Methods Offered to PayPal Braintree Customers
Mar 6, 2023
American CryptoFed, Inc. — If Gov Gordon Signs Bill, Wyoming Will Be First State In Nation With Its Own Digital Coin
Mar 3, 2023
U.S. Faster Payments Council — U.S. Faster Payments Council Launches New Faster Payments Barometer Survey
Mar 3, 2023
MagTek, Inc. — MagTek DynaFlex Kiosk Delivers Secure Payment for GrabScanGo's Managed Hotel Lobby Markets
Mar 2, 2023
Adyen — Adyen develops fully integrated Click to Pay flow within online payment interface
Mar 2, 2023
dLocal — dLocal and Deel partner to support the remote workforce movement across Latam, Asia and Africa
Mar 2, 2023
Sezzle Inc. — Instant Checkout Still in Search of Its Killer App
Mar 2, 2023
UL Solutions — What does the release of MPoC mean for the payments industry?
Mar 2, 2023
Callsign — Detecting fraud with device fingerprinting
Mar 2, 2023
Bluefin — Bluefin Secures Agreement with Everi to Bring Added Cash Access Security to Casino Gaming Floor
Mar 2, 2023
Ravelin — How are you counting the cost of chargebacks?
Mar 2, 2023
Deloitte — Payments in the Digital Platform Economy
Mar 1, 2023
Ingenico Group — What’s the Big Deal About Android Payment Terminals?
MAG INSIGHTS
View past newsletter articlesMEET OUR NEW MEMBERS
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- Match Group, Inc.
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- Netflix
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MEET OUR NEW SPONSORS
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SVS is a worldwide leader focused solely on increasing your gift card sales.
It’s what we care about – the success of your gift card program and the resulting growth in your overall sales. It’s no longer a question of why gift cards. It’s a question of how to take advantage of the countless ways consumers want to buy them, use them, and gift them. That’s why, from our pioneering days, we focused exclusively on building an all-inclusive platform dedicated to stored value and its exploding popularity with your customers.
Your gift card program deserves absolute focus, and that’s what SVS is all about. -
The rapid evolution of financial services is being driven by regulatory changes, digital transformation, and the arrival of new fintech players.
We help more than 3,000 financial institutions, retailers and other players meet this challenge with multiple payment methods for both digital and physical transactions.
We also provide a growing range of software and services for digital banking and payment services.
This includes strong identity verification for enrolling new customers, payment data encryption, and multiple authentication schemes, including Biometrics, to access digital banking services. -
Spreedly's Payments Orchestration platform enables and optimizes digital transactions with the world’s most complete payment services marketplace. Global enterprises and hyper-growth companies grow their digital business faster by relying on our payments platform. Hundreds of customers worldwide secure card data in our PCI-compliant vault and use tokenized card data to enable and optimize over $45 billion of annual transaction volumes with any payment service. Spreedly is headquartered in downtown Durham, NC.
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Accertify is a leading provider of fraud prevention, digital identity, device intelligence, chargeback management, and payment gateway solutions to customers spanning diverse industries worldwide. Accertify’s suite of products and services helps companies grow their business by driving down the total cost of fraud, simplifying business processes, and ultimately increasing revenue.
Accertify’s layered risk platform, machine learning backbone, and rich reputational community data enable clients to address risk pain points across the entire customer journey – from account creation and authentication to activity monitoring, payment, and disputes.