MAG Insights

Oct 6, 2022, 16:18 by Erica M Forman

​Buy Now, Pay Later: Market trends and consumer impacts released by CFPB on 9/15/22

Sep 2, 2022, 06:57 by Erica M Forman

We are looking forward to seeing so many of you at the Hilton Anatole in Dallas in just a couple short weeks! Registration numbers are soaring for the MAG 2022 Annual Conference and Tech Forum, underscoring the eagerness of the payments community to reunite, share experiences, learn from each other, and hear the latest trends in the payments industry.

Sep 1, 2022, 15:24 by Erica M Forman

A collective voice helped drive credit card brands to increase fuel pump authorization limits for merchants and consumers.

Aug 23, 2022, 18:51 by Erica M Forman

Since its inception in 2008, the MAG mission has remained consistent, and our dedication to these words is evident in our accomplishments. “Driving positive change and innovation in the payments industry that serves the merchants' interests through collaboration, education, and advocacy.” Our growing list of accomplishments is attributable to MAG’s leadership, from staff to our Board of Directors and our Committee and Community of Practice (COP) merchant members.

Aug 22, 2022, 16:56 by Erica M Forman

Over the course of the year, the Merchant Advisory Group (MAG) hosts around 15 webinars with industry experts where they explore various topics ranging from fraud and chargebacks to security and interchange.

Aug 15, 2022, 14:40 by Erica M Forman

As the MAG considers recent changes in network payment token implementation and rules, we see a path for further collaboration among the industry to increase security while maintaining the flexibility and competitiveness in debit routing.

Aug 5, 2022, 06:59 by Erica M Forman

Quick Response in retail could mean a fast turnaround to a food delivery order, an immediate solution to a customer service issue, or a method that enables retailers to share inventory needs in real-time. On the other hand, it also represents an experience almost ubiquitous any longer in retail through an action triggered by the scan of an image everyone recognizes…the QR Code (short for Quick Response Code).

Jul 26, 2022, 07:15 by Erica M Forman

In Part III of our series on Standards and Specification Bodies, we will share an overview of the FIDO Alliance and EMVCo. If you missed our earlier articles which discussed ISO and X9 in Part I and PCI and W3C in Part II, please check out our website (LINK) for more information.

Jul 19, 2022, 08:03 by Erica M Forman

Last week, we published an overview of ISO and X9, as part of a series examining the organizations that maintain the standards with some of the greatest impact on how the payments industry runs. If you missed last week’s article, Part I of Standards and specification bodies that matter to payments is available here. Next, we take a look at PCI and W3C.

Jul 18, 2022, 15:46 by Erica M Forman

Chargebacks can be a persistent problem for merchants, acting as a constant drain on their revenue unless they implement effective preventive measures. Unfortunately, no matter what merchants do, chargebacks will continue to roll in. There’s no way to prevent credit card fraud one hundred percent of the time or ensure that issuing banks never err when granting a chargeback to a cardholder.

Jul 12, 2022, 12:36 by Erica M Forman

Standards impact every aspect of life from the moisture content in your cereal to liquid rocket engines to working safely in a pandemic. Without standards, it would be impossible for the modern world to function, and the world of payments is no exception. Standards ensure consistency, reliability, security, and quality and help guide innovation. In payments, standards define how transactions are communicated, how customers are verified, how data is secured, and much more. But where do these standards come from and how are they created and maintained? To find out, join us over the next three weeks as we publish a series of articles examining the organizations that maintain the standards with some of the greatest impact on how the payments industry runs.

Jun 30, 2022, 09:16 by Erica M Forman

It has been a busy spring for the payments industry in Washington. Competition and swipe fees took center stage at a Senate Judiciary Committee hearing in May, and the Federal Reserve’s public comment period regarding Central Bank Digital Currency (CBDC) closed. In addition, Consumer Financial Protection Bureau (CFPB) Chairman Rohit Chopra continues to make payments a top priority.

Jun 15, 2022, 06:51 by Erica M Forman

The MAG is putting together a dynamic program of events for the upcoming 2022 Annual Conference and Tech Forum that you won’t want to miss. We are excited to welcome attendees from across the country at the Hilton Anatole in Dallas, Texas, September 18 – 21.

May 12, 2022, 13:40 by Erica M Forman

Merchants respond to historic pandemic with innovative shopping experiences. It’s time the rest of the industry reacts responsibly.

May 5, 2022, 15:33 by Erica M Forman

The MAG's newest eLearning class is now in session! The Merchant Advisory Group is excited to officially introduce Merchant Payments 203: Navigating Fraud and Chargebacks. This eLearning course is designed to enable the learner to effectively detect and analyze fraud in their environments while optimizing chargeback responses in order to minimize loss.

Apr 25, 2022, 14:43 by Erica M Forman

Over 50% of online merchants are seeing an increase in refund abuse, as customers take advantage of easy returns and extended refund periods. Here’s what’s behind the increase...

Apr 14, 2022, 09:35 by Erica M Forman

As payments professionals, we have a lot to offer our companies although we may deal with a perception that payments processing is mostly an expense that needs to be minimized. Whether we work in Treasury, Finance, IT, or Customer Excellence, payments provide invaluable insights into our businesses – much of which may be underutilized. By distributing a Payments Newsletter with timely insights to executive leadership you’ll be able to help drive profitable customer retention and acquisition strategies while building important relationships and an understanding of the value of efficient payment processing.

Apr 11, 2022, 09:04 by Erica M Forman

Merchant Advisory Group merchant members have the advantage of accessing many of our benefits and resources. A summary of MAG membership levels and benefits is available in our Membership Brochure. We now offer two membership levels: All Access and Digital Access. MAG currently has over 170 merchant members enjoying these benefits.

Mar 29, 2022, 14:01 by Erica M Forman

Do you ever wonder why we still have paper money in a world that continues to become more digital? Maybe it is because of the anonymity or the cost associated with using financial institutions to store and transfer a dollar. It could also be that there is not a viable substitute in the market. For whatever reason, consumers still like cash. It is not only consumers who like cash, though; for the most part, so do merchants. Cash settles at par, meaning if someone pays you a dollar you receive the whole dollar. It is also settled instantaneously and once received it can be spent seconds later. In addition, cash is irrevocable. Once you receive it no one can take it back from you. You own it. Now imagine a world where this is all done digitally versus physically.

Mar 22, 2022, 06:16 by Erica M Forman

Having just wrapped up 2022 Mid-Year Conference and Tech Forum and participating in my first conference from ‘behind the curtain,’ I couldn’t help but be amazed by the energy of the attendees and the enthusiasm of the MAG staff. It was obvious to me our members appreciate the value the MAG provides, and our sponsors value the opportunity to engage with the merchant community. The future of the MAG is certainly bright, and I feel fortunate to now be part of that future and the great MAG team.