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networks." In addition to lower fees, MPC said, the know of any other network that does all the things the
legislation "would introduce much-needed redundancy [Visa and Mastercard] do," Smith said.
protection into the system."
Another important consideration: Visa and Mastercard
Perhaps, but most experts agree it would take years of aren't known for system failures. Individual processors
arduous effort for any alternative network to be built may go down from time to time, but not the card networks.
that connects millions of acceptance locations, and the Once Visa and Mastercard have to start linking to new
connections will need industrial-strength security. networks it creates potential vulnerabilities.

Head-spinning possibilities Huber recalled how a major processor went down multiple

"Thinking about this makes my head spin," Smith said. "I days several years ago, and it created significant angst
think it will create a lot of complexities, and we already among ISOs, agents and merchants. Should a network
operate in an environment with a lot of complexity." fail, "It has the potential to be a nightmare," Huber said,
"I'm really struggling to understand how this will adding, "This is complex stuff. Most people don't know
work," said James Shepherd, whose company ISO Amp how Visa and Mastercard work."
has analyzed hundreds of thousands of merchant
statements. For starters, Shepherd noted, "No technology EPC, which includes Visa and Mastercard as members, is
infrastructure exists to support taking a transaction from angling to change that with a public relations campaign,
one network and sending it to another." and a website (handsoffmyrewards.com) with an explainer
video on the clearing process and encourages consumers
If the intent is to get regional EFT networks into the game, to tell lawmakers , "Hands off my rewards." Several news
that's not going to work, Smith noted, since they were outlets have picked up the call to action. "It's important for
built as single-message networks and credit cards require us as an industry to speak up," Smith said.
dual-message capability (a preauthorization followed Patti Murphy is senior editor at The Green Sheet and co-host of the
by payment). And what about chargeback rules? "I don't Merchant Sales Podcast. Follow her on Twitter @GS_PayMaven.