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MAG CEO, Mark Horwedel, Quoted in "Visa’s Scharf Feels No Love for the ACH, But Is His Sentiment Based on the Facts?"

Visa Inc.’s disdain for the automated clearing house as a competing payments network has been a given for years, but never did it come into focus more than it did last week when the giant card network announced its wide-ranging agreement with PayPal Holdings Inc.

The deal smoothed over a long-running feud between the two payments companies that had been sparked by PayPal’s policy of favoring ACH over cards for its customers’ account funding. Now, under the multiyear agreement, PayPal will stop favoring ACH and will promote Visa cards instead for the first year.

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