ETA Expert Insights: Five Key Takeaways on PayFac Oversight
4-15-2021
The latest roundtable discussion with ETA’s Payment Facilitator Committee focused on oversight and best practices for payment facilitators to consider. The discussion was led by Deana Rich (Infinicept), CJ Schneller (MerchantE), and Mary Mead Kolson (Synovus), who provided participants with the following key takeaways.
Interested in joining the committee? Over the past year, we have worked to harness the collective expertise of ETA and its members through our committees to help navigate industrywide opportunities and challenges. In conjunction with ETA’s Payment Facilitator Committee, for example, we released the third edition of the ETA Payment Facilitator Guidelines to help our members mitigate risk in U.S. card acceptance. The revised document includes updates related to COVID-19, ecommerce, privacy, compliance, graduation of submerchants, and enhanced review of certain marketing practices.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.