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.MAC UPDATES
Support MAC at Level Up 22 with tailored partnerships to meet your brand goals
As we build connections and celebrate MAC’s 25th anniversary, we invite you to partner with MAC at our signature event, Level Up. Returning in-person next March, Level Up 22 is the “first-choice” conference for credit, risk, and compliance industry professionals. We have designed partnership packages to showcase your company’s tools and resources paired with the ability to build new connections within the payments ecosystem.
Be seen as a MAC partner and reserve your partnership today.
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MAC is seeking volunteers for the Outreach Committee
The Outreach Committee is seeking volunteers to join the committee who are interested in building change, engaging new members, and defining MAC’s DEI and social impact role within the payments ecosystem. As a volunteer on this committee, you will have the ability to create programs and content that aligns with MAC’s mission and build MAC’s partnership and membership to the next level.
Click here to read the volunteer description and to get involved, please visit the volunteer application form.
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Happy Thanksgiving from MAC!
We are thankful for the countless hours our community of volunteers, speakers, and supporters donate to drive the mission of MAC and strengthen the payments ecosystem.
Now is the time to get involved with MAC to make new connections, engage with industry leaders, and build your network. Volunteer with MAC and support our industry as we build for the future. Get involved today and lead tomorrow.
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Boarding more merchants faster is key to growing a merchant acquiring business, but it’s risky. KYC due diligence is more than simply a required “tick-the-box” task—it’s the first and critical line of defense against boarding bad actors. This series is designed for risk managers looking to implement the latest advancements in KYC technologies to speed due diligence and underwriting while increasing revenue and compliance.
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.INDUSTRY NEWS
How crypto is shaping the future of digital payment industry
Bitrates
Crypto has drawn attention from many experts for its potential as a global currency. It is also being widely used by online shoppers, who use it to purchase goods and services through international e-commerce sites. Cryptocurrency can be transferred quickly, cheaply, and securely between thousands of people anywhere in the world without any bank or clearinghouse acting as a middleman. This means that transaction fees are lower than those charged by banks or credit card companies like Visa, Mastercard, or Amex.
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Seven rules for choosing a post-pandemic payment provider
Forbes
The global COVID-19 pandemic has changed our attitude toward life and online shopping. These changes have led to the dynamic growth of the e-commerce sector. In 2020, the market grew by more than 25% from 2019 levels, equal to $4.2 trillion. This number is expected to grow to $4.9 trillion by the end of 2021, according to eMarketer.
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Why digital payments will be faster, better, cheaper tomorrow
PYMNTS
Considering the outsized role technology plays in virtually all manner of innovation today, it should come as no surprise that faster data and better analytics will do the same for payments and banking.
This, as cloud-based solutions and data-insights platforms can expand access to financial services for millions of people worldwide who are increasingly going online to conduct every aspect of their lives and expecting 24/7 service 365 days a year.
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Modernize the bank regulatory perimeter on bank-fintech partnerships
JD Supra
Building on his remarks to the Blockchain Association and the American Fintech Council earlier this month, the Acting Comptroller of the Currency, Michael J. Hsu, issued a statement on November 16 before the Federal Reserve Bank of Philadelphia Fifth Annual Fintech Conference.
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Negative-option billing, also known as continuity marketing, is a deceptive approach to ensnaring consumers in ongoing subscriptions without their express consent. LegitScript's new 13-page negative-option billing guide discusses important topics in this area, including how negative-option billing works, common red flags, and tips to minimize risk.
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Why super apps are super targets for fraud and abuse
PaymentsJournal
Super apps are a way of life in the East. From WeChat to Alipay, the rise of all-in-one apps has resulted in billions of people carrying out a large part of their mobile activities from a single app. Whether it’s messaging friends, ordering groceries, ridesharing, or banking, super apps have it all. But they haven’t entirely made it to the West.
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Amazon will stop accepting Visa payments in the UK starting in January
Search Engine Land
Amazon has announced that it will longer accept payments from Visa cards in the UK, according to Reuters. “As a result of Visa’s continued high cost of payments, we regret that Amazon.co.uk will no longer accept UK-issued Visa credit cards as of 19 January, 2022,” an Amazon spokesperson said in a statement.
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Digital payments grow rapidly in Colombia
Intelligent CIO Latam
Since last year, with the isolation caused by the COVID-19 pandemic, technology began to accelerate access to financial tools in Latin America. According to a study carried out by Mercado Pago and Trendsity, one in four users of digital wallets in the region adopted them during confinement, and more than half of the users developed a greater interest in savings and investment tools.
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Digitized B2B payments upgrade outdated methods
Digital Commerce 360
With many B2B companies experiencing “portal fatigue” when managing various methods of online invoicing and payments, the B2B payments technology market is offering an array of new tools that streamline the chores in accounts receivable and accounts payable.
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The 5 biggest blockchain trends in 2022
Forbes
Blockchain is one of the most exciting tech trends at the moment. It is a distributed, encrypted database model that has the potential to solve many problems around online trust and security. Many people know it as the technology that underpins Bitcoin and cryptocurrencies in general. However, its potential uses are far broader, encompassing digital “smart” contracts, logistics and supply chain provenance and security, and protection against identity theft.
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CNP fraud: The great American 3-D Secure boom starts now
The Paypers
With card-not-present (CNP) fraud expected to top USD 15.3 billion this year, the adoption of the EMV® 3-D Secure (3DS) protocol in North America is set to explode. But card issuers, banks, and merchants may be wondering: how can we leverage 3DS to deliver a friction-free shopping experience without compromising security?
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Digital payments in Kenya grow beyond pandemic-led push, reports Cellulant
IBS Intelligence
The growth witnessed in Kenya is reflective of the payments landscape in the rest of Africa, reports Cellulant, with a noted shift in consumer behaviour. Digital payments have shifted from being a nice-to-have for businesses to a necessity as more consumers prefer digital platforms as their primary payment method.
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Consumers caught in middle as Amazon, Visa clash over fees
ABC News
Customers are caught in the middle of a growing dispute between Amazon and Visa over transaction fees.
The online retail giant moved this week to stop shoppers from using Visa credit cards issued in the United Kingdom starting next year, the latest salvo in a battle between payment networks and retailers.
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MoneyGram, bKash to enable real-time payments for 55 million users
PYMNTS
Digital P2P payments provider MoneyGram International, Inc. has integrated with Bangladesh mobile financial service bKash to enable more than 55 million bKash users to receive funds in real-time from around the world, according to a Wednesday (Nov. 17) press release.
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