Today’s #ABCsOfPayments is “F” for Fraud liability. Do you know who pays when card fraud occurs? #Fraud liability is often shared between the #merchant’s locations where the fraudulent payment occurred & with the banks, depending on the fraud situation. bit.ly/31xKEKh

#Merchants shoulder around 70-100% of the cost of online #fraud. By comparison, they are responsible for only 38% in card present scenarios. Merchants will likely bear a larger chunk of card-present fraud losses as EMV transitions occurs. bit.ly/31xKEKh

With more than 40,000 individual stores that sell food and grocery items in the U.S. alone, supermarkets are the backbones of our communities. Take time to say thank you to #SupermarketHeroes today! #SupermarketEmployeeDay

The pandemic has accelerated #digital transformation in #FinancialServices, & firms that do not take this moment to engage in open finance will risk losing their edge over competitors. #Innovation is at the forefront of industry success. Learn more: bit.ly/3sVTPz4

In a world of rapidly changing #tech #innovation, choices made now establish companies’ future competitiveness & resilience. From #UserExperience to process improvement & #automation, learn more about staying ahead of the curve: bit.ly/3sVTPz4

This week’s #ABCsOfPayments is E for “#EMV.” “EMV — managed by #EMVCo — has become the worldwide standard for securing payments via debit & credit cards.” Read more from CStore Decisions: bit.ly/3eer9wW

EMVCo uses liability shifts to force #merchants to adopt their #tech. Ex: As the April #OutdoorEMV liability shift approaches, #fuel merchants must implement costly upgrades to POS terminals to be compliant. These upgrades can cost up to $40,000 per pump. bit.ly/3eer9wW

Requiring multiple networks on a credit card will foster #innovation & advancements in security as networks compete for both bank & retailer business. Learn more about why we need competition in the U.S. #payments industry: bit.ly/30dg1Z4

#DYK U.S. #payment cards account for over $9 BILLION of #fraud in 2019? That’s 7 times the cost of what it took to build Yankee Stadium. 🏟 Learn more about the U.S. #PaymentsIndustry & what needs to be done to improve it in our one-pager: bit.ly/3demRDC

Visit Secure Payments Partnership’s website to learn more about our efforts to drive state-of-the-art #tech & increase competition & collaboration in the #payments industry: bit.ly/2krZWgE (CC National Retail Federation, FMI NationalGrocers, Premium Cigar Association, NACS Grassroots, @MAGpayments)

We need to create collaboration & an open dialogue between #retailers, processors, networks, financial institutions & #consumers to ensure the entire #payments ecosystem is involved in setting & enacting #PaymentSecurity standards. Learn more: bit.ly/2krZWgE

It has become increasingly important for online #DebitCard transactions to be made more secure. But currently, NO multi-step authentication is required for online purchases, even though the #tech is available. Find out more in our white paper: bit.ly/2BcfjCz

#EMVCo, the self-appointed standards-setting body run by #Visa &# Mastercard, has worked to extinguish routing competition for their own benefit, leading to less #SecurePayment options for debit cards. Read our white paper: bit.ly/2BcfjCz (CC FMI, Premium Cigar Association)

.Merchants Payments Coalition is a dedicated group of #retailers, #merchants, & other businesses fighting unfair credit & debit card fees & advocating for a more competitive & transparent #Payments system. Learn why we need to #ReformUSPayments on our website: bit.ly/3wZKSHJ

As the global #payments market evolves, why does the U.S. continue to fall behind? Read our fact sheet to find out about the corrupt governing bodies of the #PaymentSystem: bit.ly/2ybHrDR

Interoperability between stakeholders in the U.S. #payments industry is determined by #EMVCo’s standards. These standards, formalized & enforced through Visa’s & Mastercard’s rules, govern the card #PaymentsIndustry in the U.S. Learn more: bit.ly/2ybHrDR

.Merchants Payments Coalition shares Secure Payments Partnership’s goal to make the U.S. #payments system more competitive & transparent to drive #innovation. Learn more: bit.ly/3wZKSHJ