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IRS Rules Could Force Acquirers to Turn Away Business

Typical acquirers — including banks, processors and independent sales organizations — stand to lose up to 5% of their business next month because of problems with Internal Revenue Service 1099K reporting, a tax expert says.

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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.
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