Past Articles
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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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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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Collaboration: 2022 In Review
Jan 6, 2023Well, here we are – the end of another year. As we rapidly approach New Years, it’s common to look back and evaluate progress (or lack thereof) that was made during the year. Maybe you finally paid off that debt. Maybe you finally fixed that creaky floorboard in your house. Or maybe it was progress you made in your professional life…like learning a new skill, developing your team, or making new connections. We all have personal and professional goals that we strive to accomplish over the course of our lives and the MAG’s Collaboration Pillar is no different.
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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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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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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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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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Giving a Voice to Merchants at a time it’s needed most
Dec 21, 2022In 2021, the Payments Data Community of Practice (COP) emerged out of the concluding Downgrades COP with two primary objectives. First, to offer some best practices to the increasingly complex process of managing payments data that merchants rely on to operate their business. Second, to conduct a study that gives merchants a tool to benchmark their own performance.
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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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From Student to Teacher in Payments
Dec 8, 2022New to Payments? Immerse yourself in the MAG and you will be on the stage sharing your knowledge in no time!
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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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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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Evolution of a Payments Career?
Nov 2, 2022The evolution of payments isn’t just about the payments products and services that evolve supporting how consumers transact at their favorite retailers. A career in payments evolves as well. What are the rewards? What are the challenges? How do you navigate? What advice should you consider? Let’s ask a few payments industry experts about their experience…
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Record-Setting MAG Annual Conference and Tech Forum!
Oct 21, 2022Thank you to all who joined us at our record-setting MAG 2022 Annual Conference & Tech Forum in Dallas, Texas!
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PCI Releases DSS Version 4.0
Oct 12, 2022In March 2022, PCI SSC released version 4.0 of their Data Security Standard (DSS). PCI DSS is a global standard designed to protect payments data.
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Payments in Europe: 4 Considerations That Could Make-or-Break the Holiday Period
Oct 7, 2022Last year, CMSPI estimates that German retailers lost over €650 million in sales on Black Friday and Cyber Monday alone. Many didn’t even realise this was happening, and that their payments supply chain had rapidly become a core determinant of holiday takings. With payments costs rising in tandem, the same story echoed across Europe - so what do merchants need to do differently this time?
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The CFPB and BNPL: Perspectives on New Report
Oct 6, 2022Buy Now, Pay Later: Market trends and consumer impacts released by CFPB on 9/15/22
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MAG 2022 Annual Conference and Tech Forum – It’s Right Around the Corner!
Sep 2, 2022We 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.
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Higher fuel costs require a close eye on transaction limits
Sep 1, 2022A collective voice helped drive credit card brands to increase fuel pump authorization limits for merchants and consumers.
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MAG Leadership – Contribute Your Talent
Aug 23, 2022Since 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.
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