Until a few years ago, payment card processors and merchant acquirers found it relatively easy to incorporate biannual April and October updates of interchange-rate tables and other mandates from the payment networks into their systems.
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Merchants and consumers are more mindful of security than ever, but there is still much work to be done to educate them on how to protect account data and prepare for the shift to EMV-chip cards. Fortunately, the industry has help. The ETA, which recently appointed Wells Fargo exec Debra Rossi as its president, is welcoming more technology companies to its ranks to help members adapt to the shifting competitive landscape.