MAG Insights

Mar 21, 2024, 11:55 by User Not Found

Thank you to the record-setting number of attendees who joined us at our first-ever Payments MAGnified at the Hyatt Regency Dallas!

Mar 18, 2024, 10:16 by User Not Found

Over the last several years, the MAG has expanded the merchant's voice in the industry through many avenues. In 2019, we added the Tech Forum to include professionals who are responsible for the programming of payments to join our discussions. In 2020, we started engaging with merchants in the APAC area to help understand their needs for a voice in the payment system. In 2021, we launched our Merchant Payments 101, followed by our 200 level courses as well as a Technical course. In 2022, we held our first international summit in Singapore.

Mar 11, 2024, 12:09 by User Not Found

Dating back to our inaugural payments event in October 2008, our Special Interest Groups (SIGs) have been some of the highest-rated sessions at every conference. What started as round table discussions during the last hour of our conference, SIGs have been standardized into two one-hour merchant-only sessions, allowing merchants of various industry verticals to discuss the topics that mean the most to them.

Mar 7, 2024, 15:21 by Erica M Forman

I have had the honor of being engaged with the MAG through many different job titles… merchant member, SIG leader, Committee co-chair, MAG staff member, and now Board Member. Through all those titles and phases of my own professional life, what I have learned about payments can be directly tied back to the experiences, connections, people, formal and informal conversations, and education that I’ve received through engagement with the MAG organization.

Feb 26, 2024, 13:46 by Erica M Forman

MAG conferences may have gone through a rebranding, but Tech Forum is here to stay. Tech Forum is a constant area of growth for our organization as the industry faces new and exciting challenges across the payments tech space. From tokenization, PCI compliance, fraud management, software implementation, and more, the MAG continues to seek new and innovative ways to bring together payments technology professionals in a meaningful way.

Jan 30, 2024, 09:58 by Erica M Forman

The Consumer Financial Protection Bureau (CFPB) has created a flurry of activity in the past 12 months regarding topics such as open banking, excessive banking fees, and their most recent proposal looks to bring additional oversight to digital wallets currently operating in the U.S. What does this new proposal mean for wallet providers, merchants, and consumers alike?

Jan 25, 2024, 10:49 by Erica M Forman

This article is not intended to be a history lesson in payments, but it is important to revisit a few innovations to bring the topic of payments orchestration along. Before the history lesson, we need to define payments orchestration. Generally, this is a process that can be developed either internally or with a partner to allow for the use of multiple payment processors, technologies, or acquirers to optimize the payments process and customer experience.

Jan 23, 2024, 12:00 by Erica M Forman

As a MAG merchant member, there are many opportunities to advance your payments career and expand your knowledge through our professional development resources. Do you lead a team? Use our resources to amplify your team’s performance and build the momentum to move your business forward!

Jan 22, 2024, 07:15 by Erica M Forman

Traditionally, merchants would engage a single payment processor for all acquiring needs. However, evolving global requirements and market dynamics have led to a shift, with merchants increasingly opting for multiple providers. Even when a single acquirer could handle a merchant's domestic processing requirements, there are compelling reasons for diversification.

Jan 18, 2024, 07:40 by Erica M Forman

As announced at our last conference, MAG’s February event has undergone changes to not only differentiate our bi-annual conferences but also to continue to evolve in the best direction for our payments community.

Jan 16, 2024, 08:38 by Erica M Forman

The Merchant Advisory Group's 2023 APAC Summit on 1-2 November in Singapore proved to be an extraordinary event! It’s remarkable how it has rapidly grown, despite only being our second annual summit in the APAC region.

Jan 10, 2024, 14:42 by Erica M Forman

2023 saw a lot of exciting changes in the payments industry, and it’s likely to be another busy year ahead. Planning a successful strategy requires all areas of the organization to work together towards common goals, and the MAG team is no different. Here’s a preview of some of the things you will see from the MAG in 2024.

Jan 2, 2024, 06:48 by Erica M Forman

In late Spring 2023, industry partners began collaborating on an updated ISO spec used for EBT cards to accommodate a migration to chip technology. Sounds easy, right? Most merchants have upgraded to chip card terminals by now, so what's one more card with a chip on it? Many of us active in payments during the initial EMV migration still bear the scars.

Dec 6, 2023, 08:34 by Erica M Forman

In October of 2022, EMVCo published a new specification for a contactless kernel. While that may be a yawn-inducing announcement for many people, the potential significance of this specification should not be overlooked.

Dec 4, 2023, 12:38 by Erica M Forman

As the year draws to a close, we at the Merchant Advisory Group (MAG) want to express our heartfelt gratitude for your unwavering support as a valued merchant member throughout the past year.

Dec 1, 2023, 08:24 by Erica M Forman

The MAG asked Board Member Director Ken Grogan of Wakefern Food Corp. about his journey through his payments profession and his long-time involvement with the MAG.

Nov 17, 2023, 07:10 by Erica M Forman

As your organization continues to evolve in today's fast-paced payments landscape, our team recognizes the need for ongoing learning delivered efficiently. That is why we are excited to expand our on-demand offerings to include microlearning in 2024, providing condensed and targeted learning experiences focused on critical topics like tokenization, real-time payments, and emerging payments technology.

Nov 8, 2023, 16:17 by Erica M Forman

There is a renewed focus on payments policy in 2023. This year, most of the discussion has revolved around the Credit Card Competition Act, as card-focused legislation has not seen the floors of Congress since 2010. However, there are many externalities in card issuance and acceptance that have kept the focus of regulators: mainly the Federal Reserve, Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB). These three agencies have each announced activity regarding U.S. payments.

Nov 2, 2023, 10:43 by Erica M Forman

Late in the summer, merchants received notices from their acquirers, gateways, and payment service providers (PSPs) about the October brand release. Nothing can wreak havoc on a P&L or budget like unexpected fee changes. Yet, while fee changes get most of the attention, these quarterly release cycles contain so much more than just changes in fees. The quarterly brand releases often include changes to processing requirements, new or updated data fields and values, compliance program updates, and chargeback rules changes that may target transactions within a specific channel, geography, or merchant segment.

Oct 24, 2023, 12:48 by Erica M Forman

It has been a busy year in payments with the Reg II clarification enforcement and the launch of Fed Now, but there is no rest for the weary. The CFPB announced a new set of regulations for open banking and proposed a rulemaking in early October. Earlier this summer, Director Chopra wrote, “The CFPB is working to accelerate the shift to open banking through a new personal data rights rule intended to break down these obstacles, jumpstart competition, and protect financial privacy.” With this as a backdrop, the payments landscape will be set for more change as early as 2024. The proof will be in the implementation of these rules, but Director Chopra hopes this will be a good change in the financial services industry.