Transaction Trends

Over 100 ETA members, representing payments technology companies from across the payments technology ecosystem, met with policymakers from Congress, federal regulators and state governments at ETA’s Annual Payments Fly-In this week.

After an introduction and morning overview on payments technology policy from ETA CEO Jodie Kelley, ETA SVP of Government Affairs Scott Talbott, and ETA lobbyists Jeff Patchen and Tom Bloodworth, ETA Members participated in virtual meetings from their home offices with Members of Congress including Sen. Kyrsten Sinema (D-AZ), Sen. David Perdue (R-GA), Sen. Mike Rounds (R-SD),  Rep. Bill Foster (D-IL), Rep. Barry Loudermilk (R-GA), Rep. Tom Emmer (R-MN), Rep. Ben McAdams (D-UT), Rep. Rep. Blaine Luetkemeyer (R-MO), and Rep. Ed Perlmutter (D-CO), among others. Members also met with leaders from the FTC, CFPB, and SBA.

ETA and its members advocate for a positive policy environment that makes it easier for ETA members serve their merchants and consumers with secure innovative payments options. The Annual Fly-In is an important event for connecting ETA members with policymakers to tell the story of payments innovation and security.

“Fly-ins are in important part of ETA’s Government relations work we do all year,” said Kelley in her opening remarks. “Our hope is by the end of the day, you will have a deeper understanding of the role our members play in shaping public policy.”

This year, ETA focused on key issues including the role payments companies are playing in helping to address the COVID-19 by utilizing contactless payments and helping Congress and state government securely and quickly distribute stimulus money to consumers in need.

Discussions also highlighted the industry’s long-standing efforts to help low- and moderate-income Americans in accessing financial services. Through new products and services, like mobile apps, prepaid cards, and P2P services, ETA members discussed the ways payments technology is instrumental in enabling these Americans to conduct their daily financial transactions.

Looking ahead, policymakers and members discussed issues on the horizon – increased taxes at the state level as governments struggle with diminished coffers, new products and services are challenging existing regulatory frameworks, and the possibility of leadership change in the upcoming election.

Click here to read more about ETA’s advocacy work.