Payments

FSR advocates on behalf of members that provide and use payment products and services to promote fair competition, innovation and a vibrant payments industry.  Advocacy efforts focus on identifying trends, opportunities and challenges in a dynamic payments ecosystem, and addressing regulatory and compliance issues.

 


FSR Praises Court Decision on Interchange

March 21, 2014

“Interchange fees are an important part of protecting customers against fraud, providing the convenience of using electronic payments, and are good for merchants who receive prompt payment on card transactions,” said Tim Pawlenty, CEO of FSR. “Today’s ruling is important in ensuring consumers continue to receive that fraud protection and that financial services companies are able to keep up with the cost of doing business.”

CTO Corner: EMV, PCI DSS and the Role of Standards in Financial Services

February 1, 2014

This article focuses on two security standards — Europay, MasterCard and Visa (EMV) and Payment Card Industry Data Security Standard (PCI DSS) — with respect to their roles in combatting credit and debit card fraud and fending off cyber-attack. They are not the only important standards relating to payments, but they are the key ones for credit and debit cards, and are the ones most discussed in relation to the recent data breaches at retailers such as the massive Target breach that was revealed in December 20131.


FSR Statement on State of the Union Address

January 29, 2014

“It is encouraging the President called for action on the critical issue of housing finance reform,” said Tim Pawlenty, CEO of FSR. “Reforming Fannie and Freddie so that taxpayers are no longer on the hook is critical and the time to act is now.”


Think ID Theft is Bad? How about Tax ID Theft!

January 17, 2014

Tax season is stressful. Just figuring out the filing process is complicated and most Americans are excited to get to the finish line. But imagine filing your tax returns only to have them rejected due to your identity being stolen and used to file a fake refund in your name before you actually got to file.

US fights losing battle for bitcoin riches

November 20, 2013

Paul Smocer, president at BITS, the technology policy division of industry body The Financial Services Roundtable, said that digital currencies appeal to merchants and customers due to lower transaction costs. Their ability to facilitate simpler international funds transfers would also mean companies would see an increase in international sales opportunities, he said at Tuesday’s hearing.


FSR Testifies on Bitcoin & Digital Currency

November 19, 2013

The increased use of bitcoin and digital currency is providing opportunities to explore, but the risks currently outweigh the benefits, according to Paul Smocer, President of BITS, who testified before the Senate Banking Subcommittees on National Security and International Trade and Finance.

FSR Testifies on Bitcoin for Senate Banking Committee

November 19, 2013

The increased use of bitcoin and digital currency is providing opportunities to explore, but the risks currently outweigh the benefits, according to Paul Smocer, President of BITS, who testified before the Senate Banking Subcommittee on National Security and International Trade and Finance.