Wednesday, December 1, 2010
MAG plans for migration to mobile
The Merchant Advisory Group recently devised a set of recommendations to influence the evolution of the U.S. payment system. The policy and technology suggestions will be submitted to "stakeholder groups in the payments business to help them understand merchant needs and preferences transitioning to more secure and efficient transacting – especially with mobile devices," MAG said in a statement.
"It's been widely recognized that leadership is needed to help this country migrate to a better payment system," said Dodd Roberts, MAG's President and Chief Executive Officer. "We hope and intend that this document will help other stakeholders in the payments ecosystem understand the merchant position, and will accelerate progress in specifying and justifying the emerging new payments infrastructure."
The recommendations propose that investments be channeled to the "configuration anticipated to be the preferred payments embodiment in the future—incorporation of 'smart card' types of computer chips conveying secure account credentials by contactless transmission to a new generation of POS terminals equipped to identify those devices and securely enter PINs as well."
MAG also endorses a national move to Europay, MasterCard and Visa, the global standard for contactless cards offering chip & PIN capability.
Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.
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