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The PINless clarification explained

An estimated $3bn opportunity

The Federal Reserve’s October 2022 clarification has created a flurry of activity in the payments industry. CMSPI has analyzed the document to understand what it means for merchants, the steps to take in order to benefit from the opportunity, and how CMSPI can help quantify the value PINless routing can bring to your business.

The PINless clarification explained

PINless Infographic - Retail

Additional PINless resources

PINless routing barriers

History tells us that routing opportunities are not guaranteed. Traditional payments players have an incentive to protect volumes and their own profitability. Our latest resources examine current obstacles limiting savings on transaction fees.

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The Attack on Merchant Debit Savings Summary image
The Attack on Merchant Debit Savings Summary
  • Blogs

CMSPI estimates that merchants and consumers will save big - $3 billion each year, collectively - as a result of the Federal Reserve's card-not-present (CNP) debit clarification, effective July 2023.

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CMSPI Data Shows PINless Enablement On The Rise image
CMSPI Data Shows PINless Enablement On The Rise
  • Blogs

The Federal Reserve’s October 2022 clarification mandates that issuers make at least two competing debit networks available for all payment channels by July 1, 2023.

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Complex, Costly and Creative: Three Ways Merchants Lose Out to Card Network Fees image
Complex, Costly and Creative: Three Ways Merchants Lose Out to Card Network Fees
  • Blogs

For many businesses across the world, network fees are just a jumble of often-unintelligible words that clutter every payments invoice. But those pesky line items are now one of the biggest challenges merchants face; in North America alone, retailers sunk an estimated $12.5bn into network fees last year.

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How can merchants overcome the barriers?

1

Act Now

Merchants must ensure they are partnered with providers that offer comprehensive debit routing tools. If your partner can’t process or route PINless transactions, negotiation levers may be viewed as less credible. CMSPI is actively tracking PINless enablement to know which payment partners are ready.

2

Understand your Opportunity

The PINless opportunity isn’t a matter of routing everything to PINless, but rather of opening of additional negotiable volume to merchants. You must first understand the negotiating power at hand. CMSPI's analytical tools can quickly determine your PINless ROI.

3

Tackle the Complexity

Merchants not only need to navigate the capabilities of their providers and limitations from the networks, but also develop new benchmarks and strategies in newly opened debit routing environments. CMSPI's data insights include benchmarking costs to determine if your business is getting the best rates.

Interested in scheduling an informational session on PINless debit routing?

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Alex Ellwood

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Mike Caris

VP, Business Development

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Liz Garner

SVP, Head of Strategic Partnerships

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Christian Johnson

Global Advocacy Manager

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