RILA’s Payments Committee, supported by CMSPI, is made up of financial, payments, legal, and government relations executives from the largest and most innovative retail companies. Members of the committee provide insight and guidance on issues such as rising swipe fees, debit routing, authentication issues, fraud, and credit competition reform.
Traditional retail payments functions are increasingly complex; with over $100 billion in card fees in the system (and rising), a multitude of new payment types on offer, increased fraud and complicated challenges with authentication. The renewed partnership further signifies a commitment to helping merchants navigate the ever-changing payments landscape.
“The continued partnership between RILA and CMSPI is critical to ensuring law makers and key regulators understand how the payments ecosystem operates from the merchant perspective,” said Austen Jensen, senior vice president, government affairs at RILA. “CMSPI has been a pivotal player with RILA in highlighting the need to bring more competition to the payments arena. Utilizing their expertise and insights to advance the goals of the merchant community is extraordinarily valuable.”