ETA Submits Statements For the Record to House Energy & Commerce and Senate Commerce Committees For Hearings on Privacy

The Electronic Transactions Association (“ETA”) appreciates the opportunity to
submit this statement for the record.

ETA is the leading trade association for the payments industry, representing over 500 payments
and FinTech companies that offer electronic transaction processing products and services and
commercial loans, primarily to small businesses. During 2018 in North America lone, ETA
members processed over $7 trillion in consumer purchases. ETA’s members include financial
institutions, payment processors, FinTechs, and all other parts of the payments ecosystem.

ETA and its members support U.S. and international efforts to strengthen privacy laws in ways
that help industry combat fraud and help consumers understand how their data is being used. As
lawmakers and regulators explore additional ways to protect consumers, it is critical that
government coordinate with the payments industry to combat fraud and cybercrime so that all
consumers have access to safe, convenient, and affordable payment options and other financial
services.

Read the statement to the House Energy & Commerce Committee here.

Read the statement to the Senate Commerce Committee here.