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 global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $6 trillion in purchases in the US and deploying payments innovations to merchants and consumers. Learn more: www.electran.org.