MAG Insights

Announcements from the MAG & Featured Articles

MAG CEO, Mark Horwedel, Quoted in DigitalTransactions Article "Now Retailers Are Battling Honor-All-Wallets"

The latest skirmish between merchants and the major card brands has been brewing behind the scenes for months but went public early last month when an advocacy group for big-box retailers charged that a new twist on network rules is slowing the progress of mobile payments. 

The controversy involves regulations long maintained by American Express Co., MasterCard Inc., and Visa Inc. that require merchants to accept all of their cards if they accept any of them. 

Now the networks are extending these so-called honor-all-cards rules to digital wallets, hindering the emergence of lower-cost services and discouraging merchants from switching on near-field communication technology at their terminals, says the Merchant Advisory Group, a Minneapolis-based organization that represents more than 100 retail and travel companies. 

Read the full article: http://www.nxtbook.com/nxtbooks/dt/201607/index.php?startid=6