October 9, 2019
The U.S. payments industry simply does not work for merchants. Card fraud is high and continues to rise; innovation is minimal; and Visa and Mastercard fees are the highest they’ve ever been – and increasing continuously.
In order for the payments ecosystem to truly work, it needs to be secure; competitive; accessible; innovative; transparent; and guarded from systemic risk. However, the U.S. payments industry boasts none of these qualities, and is severely in need of regulatory reform.
For merchants and merchant advocates alike, the main issue is simple: they do not currently have the data required to prove just how badly this reform is needed. Fortunately, the CMSPI Index could see the end of this obstacle.
Using aggregated data from CMSPI’s extensive international client base, we can pinpoint specific problems in the payments industry – proving the presence of fundamental issues in the ecosystem, and identifying potential remedies.
In this webinar, we will introduce the CMSPI Index to NGA members for the very first time. Exploring our findings, we will discuss how the Index can empower merchant advocates as they campaign for fairer regulation.
The prize is huge – the Nilson Report identified that Merchant Service Charges surpassed $100 billion for the first time in 2018. With regulatory reform, CMSPI estimates that merchants could save tens of billions of dollars annually – and the CMSPI Index is the next step towards that reform.