MAG Insights

Announcements from the MAG & Featured Articles

New MAG Bench Marking and Best Practices Initiative

By Dean Sheaffer, Boscov’s

June 4, 2014

The MAG communication committee is embarking on an important new initiative and would like your input.  Historically there has been very little payment systems benchmarking data or a source for payment systems best practices in the merchant community.  As a result, it is difficult at best for even the largest merchants to understand what they are doing well and where they can improve.  The MAG proposes to remedy this through a series of data / information gathering surveys.  The data collected from member surveys will be aggregated and made anonymous so that we will mitigate the risk of individual company’s information becoming public.  

As surveys are completed and analyzed, the MAG will publish the results in subject matter “briefs” available only to MAG members.  These briefs will be a tremendous resource for the membership as a whole.  In order to do this right we need two things from the membership:

1) We need input on the subject matter areas you believe are most important.  Some examples of subject matter areas for benchmarking and best practices include: interchange optimization, chargeback cost reduction, EMV implementations, etc.  There are, of course, a very large number of possible subject matter areas the MAG could survey, so we would like each member to provide the areas they are most interested in.  Please provide these by June 27, 2014 in order of priority in an email to Those subjects garnering the most requests/highest priority will be the first surveyed and briefed.

2) As the surveys are made available to the membership, it will be critical that MAG members respond with as much detail and accuracy as possible.   Each survey will be open for 21 days; please be sure to respond in this time frame so that the analytical work can commence in a timely manner.

Thank you in advance for your help in bringing this important initiative to fruition.