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NewsBriefs

This article contains excerpts from news stories recently posted under Breaking Industry News on ETA guides Capitol Hill
our homepage. For links to these and other full news stories, please visit www.greensheet.com/ on cashless impacts
breakingnews.php.
The Electronic Transactions Associa-
Tracking economic recovery tion met with the U.S. House Commit-
tee on Financial Services to address a
U.S. COVID cases are falling, according to government subcommittee hearing on how a cash-
data. And while the virus may not yet be under control, less economy impacts disadvantaged
there are signs of optimism. "With consumer spending communities and peoples. The ETA
accounting for roughly two-thirds of U.S. gross domestic wanted policymakers to understand
product, all eyes are closely watching shoppers’ ability its members' commitment to financial
to drive the economy," said Jack Kleinhenz, chief inclusion, according to Scott Talbott,
economist at the National Retail Federation. Also, NPD senior vice president, government af-
Group reported that online and physical visits to fast casual restaurants during fairs at the association. In a letter to
the 12 months ending Aug. 31, 2021, were up 8 percent over 2020, and were on House Committee members, Talbott
par with August 2019 visits. cited positive economic contributions

Experts see more play-tail, less retail in future stores ETA member companies make avail-
able to underserved consumers and
Stores of the future will be all about experience, according to Euromonitor. urged policymakers to support pay-
The market research firm hosted a virtual event with retail industry leaders ments industry growth and innova-
to explore the future of the store in a digital world. During the two-hour tion.
event, keynote speaker Michelle Evans, senior head of global digital consumer
research at Euromonitor, predicted accelerated change in the retail sphere that Advancing faster B2B payments
will require a robust digital infrastructure that enables retailers to remain The Federal Reserve and the Business
agile, adaptable and competitive. She also discussed emerging trends with a Payments Coalition disclosed that
panel of experts. 73 organizations joined an initiative
to pilot a framework for exchang-
ing electronic invoices, and another
42 organizations will pilot a similar
exchange framework for electronic
delivery of remittance information
across all payment types. The pilots
are part of the Fed's faster payments
initiative. Originally named the Re-
mittance Coalition, BPC is a 10-year-
old organization that represents hun-
dreds of banks, payment providers,
consultants and others focused on
promoting electronic B2B payments.
FIDO conference drives
secure authentication
FIDO Alliance hosted Authentication
2021, a conference focused on mod-
ern user authentication methods. The
event offered insights on strong secu-
rity and dynamic interactions for on-
site and remote attendees, according
to Andrew Shikiar, executive director
and chief marketing officer at FIDO.
"Modern authentication systems and
standards have emerged to provide
more efficient ways for organizations
to provide strong security and bet-
ter interactions with their brands,”
Shikar said. He further noted that the
FIDO Alliance provides tools and re-
sources to help organizations priori-
tize stronger security.
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