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EPC Weighs In: Retailers Lag Behind in Innovation, Push Blame to Card Networks
EPC responded to a card payments article in the Washington Post by Mary Hardar on September 11, 2019 entitled, “Think your credit card is safe in your wallet? Think again.” “It strikes me as odd that the article omits available and important new technologies that shift liability to card networks while combating millions of payment criminals. Electronic payments make it possible for businesses to sell to customers all over the world through e-commerce. Through Secure Remote Commerce, the online payments environment is secured with tokenization and AI technology which makes it easy for small businesses to provide a smooth checkout experience,” stated Jeff Tassey, Chairman of the Board of the Electronic Payments Coalition. Contrary to claims that all harm falls on small businesses, networks in fact incentivize retailers by freeing them from liability when they adopt new, innovative technologies that protect themselves and consumers— one network recently launched a … Continue reading
Financial institutions maintain electronics payments competitiveness, survey finds
Survey results have determined voters still prefer bank institutions over retailers with regard to developing payment technologies and protective initiatives. The effort executed by Morning Consult showed four in five voters agree stores should update their technologies to ensure customers have a range of payment options at the register and retailers should share in the infrastructure fees that make electronic payments possible. Continue Reading
New Video: Electronic Payments 101
Infographic: Voters Trust Banks & Card Companies with Security Information
Retailers, Financial Institutions Go Local in Debit Card Fee Fight
On the other side of the issue, the Electronic Payments Coalition is running a digital ad campaign in Washington and other advertising in key congressional districts. Those districts include Budd’s, and the districts represented by House Financial Services Chairman Jeb Hensarling (R-Texas) and Financial Institutions and Consumer Credit Subcommittee Chairman Blaine Luetkemeyer (R-Mo.). One digital ad argues that the consumer got “screwed” by the Durbin amendment and the second is an animated video on the need to repeal the Durbin Amendment. Continue Reading