MAG Insights

Oct 8, 2020, 13:45 by User Not Found

Open Banking is the technology that enables non-bank financial firms - e.g. “fintechs” - to access consumer-authorized financial data, such as personal and business checking-account transaction data. Open banking is proclaimed as driving the fintech revolution, transforming retail banking, and disrupting the global payments market.

Oct 8, 2020, 13:42 by User Not Found

To accurately prevent and respond to disputes, merchants must understand why a dispute happened. To do so, merchants can categorize payment fraud into three different types and learn how to prevent each kind of fraud.

Oct 8, 2020, 13:27 by User Not Found

Omnichannel is now a must for B2C and B2B companies alike. It's all about ensuring a seamless, consistent experience for your customers, regardless of how they engage with your business, or which payment method they use to buy.

Oct 8, 2020, 13:24 by User Not Found

Since I first entered the payment space almost two decades ago there has been constant cycles of evolution around payments. The problem is those cycles continue to speed up every couple of years. One of my first projects in payments was converting paper checks to electronic ACH payments for Dayton Hudson's private label cards. Now days we're discussing things like Secure Remote Commerce, Online Fraud, EMV 3D Secure, Authentication, Biometrics, and alternative payment systems like WeChat Pay and Alipay.

Oct 8, 2020, 11:05 by User Not Found

There are three components that I like to think about when building a solid payment technology strategy: business drivers, technology choices, and team. The strategy should focus on the ideas that enable business priorities and customer needs. It needs to consider technology costs, tech-stack choices, vendor integrations, and security & privacy. Lastly, team is a critical part of the strategy.

Oct 8, 2020, 11:05 by User Not Found

Many of you likely have significant projects which you are responsible to complete, especially as we start the new year. I thought it might be helpful to share effective ways to approach, prioritize and accomplish strategic projects.

Oct 8, 2020, 11:05 by User Not Found

Strong Customer Authentication Needs Alternative Solutions to be Developed: Otherwise Merchants will Foot the Bill, Again

Sep 24, 2020, 13:27 by User Not Found

Love’s Travel Stops & Country Stores is family owned and operated and began in 1964 with a single gas station in Watonga, Oklahoma. Over the last 55 years, Love’s has grown into one of the nation’s leading retailers of motor fuels and related products and services, operating 500 locations in 41 states. Love’s joined the MAG in August of 2012. Stewart Terbush, Director of Operations Accounting at Love’s considers the MAG to be a critical resource to drive success in the payments space. We asked Stewart to share his insights on Love’s relationship with the MAG, and how that relationship creates value for all concerned. Click here to read what Stewart and the team at Love’s has to say about their experiences with the MAG.

Sep 24, 2020, 13:27 by User Not Found

As another year comes to an end, retailers are heads down on the holiday shopping season, competing fiercely to attract and retain customers and drive towards their annual profit goals, while making sure their people and systems can handle the high transaction volumes during this peak period. Complicating matters is the increasing risk of losses due to ever increasing payment fraud.

Sep 24, 2020, 13:27 by User Not Found

The U.S. may have the most complex point of sale (POS) debit payment system in the world, and the migration to EMV has made it more confusing for many merchants. Common AID was created to simplify this for merchants, but it’s important that they fully understand what it means for their business and their customers.

Sep 24, 2020, 13:27 by User Not Found

How does your company stack up against best-practices and costs of card based sales? Payments analytics provides clarity, understanding, and helps reduce fees more easily and faster. Like anything, if you can’t measure it, you cannot improve it.