The Electronic Transactions Association (ETA) hosted their annual Fly-In and supplemental FinTech Policy Forum event this week to discuss the changing landscape of the credit card processing services industry. More than 50 payments industry leaders attended the event held in Washington, D.C., and met with policymakers on Capitol Hill.
Discussions covered a wide range of topics in the credit card processing services industry, including:
- The status of the EMV liability shift
- New technologies in payments
- Online small business lending
- New technology deployment and education
- Reliability of financial services
“At a time of unprecedented change in the payments ecosystem, including mobile payments and other new technologies, ETA’s government relations efforts are enormously important to advance our industry,” said Scott Talbott, ETA Senior Vice President of Government Affairs.
ETA members offered perspective on how the $6 trillion industry is driving economic growth in the United States.
Members also met to discuss the role of FinTech in the future of credit card processing services with keynote speaker, Congressman Patrick McHenry, the Chief Deputy Whip of the House, announcing new legislation that will boost FinTech innovation in the U.S. According to the ETA recap from yesterday’s event, “the Financial Services Innovation Act of 2016 is part of the broader Innovation Initiative created by McHenry and House Majority Leader Kevin McCarthy”, and aims to “establish a regulatory framework that helps FinTech firms and startups gain the access and flexibility they need to innovate and experiment”. For a more in-depth recap, click here.
ETA is the leading trade association for the payments industry, representing nearly 550 companies worldwide involved in electronic credit card processing services and solutions. The purpose of ETA is to “influence, monitor and shape the payments industry by providing leadership through education, advocacy and the exchange of information”. Membership includes ISOs, payments networks, financial institutions, payment processors, mobile payment providers, as well as ISV and hardware suppliers. Payline is an ETA member, and as such, we are committed to their mission of enriching and improving the lives of every consumer by making the global flow of commerce possible. To learn more, visit ETA online or check out their newsletter Transaction Trends.