Payments industry analysts are discussing a new proposal, sponsored by Sen. Dick Durbin, D-Ill., and Rep. Roger Marshall, R-Kan., that aims to derail existing credit card networks. While the proposed bill purports to expand merchant choice, opponents claim it reflects a lack of understanding of credit card processing architecture, functionality and interchange pricing.

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Yesterday, July 27, 2022, the Midwest Acquirers Association (MWAA) honored Kathleen (Kate) Gillespie, CEO of The Green Sheet Inc., for her payments industry achievements and contributions. The special award ceremony was held in the grand ballroom of the Chicago Marriott Downtown Magnificent Mile Hotel, as part of the opening ceremony at MWAA’s 20th annual conference, which will wrap up today, July 28.

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A small Des Moines, Iowa credit union is taking Apple to court, claiming the technology giant violates federal antitrust law by compelling iPhone customers to use its Apple Pay mobile wallet exclusively, thus barring competing iOS tap-and-pay solutions from iPhones.

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Cinchy, a technology service provider specializing in data management, is challenging IT professionals to rethink traditional approaches to data management. The company's study, The Rise of Dataware: An Integration-Minimizing Approach to Data, released July 21, 2022, highlights an emerging trend that replaces legacy data integration with data sharing between data and applications.

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FIS introduced a new fraud detection tool that aims to boost approval rates and reduce fraud liability for ecommerce merchants. The financial technology parent of leading acquirer Worldpay said its new "guaranteed payments" solution makes it the only payments processor to offer a fully integrated solution that guarantees ecommerce merchants better transaction approval rates and eliminates the financial liability of chargebacks due to fraudulent purchases.

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Registration is open for MPC: The Digital Commerce Event, to be held Aug. 22 to 24, 2022 at the Westin Atlanta Perimeter North, following two years of virtual conferences. The live conference will bring a diverse cohort of fintech, banking, security and payments industry leaders to Atlanta's Transaction Alley, which is home to numerous leading fintech and financial services brands, event planners noted.

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Could the metaverse be the next frontier for retail payments? It's beginning to look that way at least. According to a new report, about one in five Americans has already made at least one purchase in the metaverse, and another 20 percent are planning to do so. Not surprisingly,

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The Payment Choice Act (PCA) will live to fight another day, after Congress voted on July 14, 2022, to add PCA to the National Defense Authorization Act (NDAA). PCA supporters noted the bill, if passed, will require all brick-and-mortar businesses to allow consumers to pay cash for goods and services priced up to $2,000.

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While consumers and small business owners are feeling inflation's pinch, there are fewer Chapter 11 filings this year compared to last year, according to new research by Epiq Bankruptcy and ABI Research. Analysts noted commercial filings decreased 7 percent and small business filings by 8 percent in June 2022. In addition, total bankruptcy filings decreased by 6 percent from 34,291 in June 2021 to 32,175 in June 2022, researchers found.

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As the Electronic Transactions Association prepares for its ninth annual Washington, D.C. fly-in, to be held Wed., July 13, 2022, on Capitol Hill, Scott Talbott, senior vice president of government relations at the ETA, shared details about the event, including this year's chosen topic, cryptoassets, with The Green Sheet. Following are excerpts from the interview.

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Sionic, an Atlanta-based payments company, introduced the first-ever real-time payments service for the point of sale. Pay-by-Bank, as the service is called, uses RTP, the real-time payments network built by TCH, a payments company owned by the nation's largest banks, to support instant bank-to-bank transfers.

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The Southeast Acquirers Association returned to Transaction Alley for its 21st annual conference, held June 13 to 15, 2022, at Lowes Midtown Atlanta. SEAA board member Derek Vowels said more than 1,200 people attended.

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Payments industry innovations have made advanced technologies available to small and midsize businesses across the United States, and many of these solutions manage more than payment processing. The Green Sheet discussed POS technology trends with Dan Bjerke, senior vice president and general manager of the Clover POS and business management system. Following are interview highlights.

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