Tag: risk

Podcast: Why MAC Needs Payment Facilitators

This week, we talk with Melissa Sutherland, director of merchant solutions for LegitScript, a compliance company. Sutherland is also deeply involved with the Merchant Acquirers’ Committee, otherwise known as MAC.

We talk with Sutherland about the benefits of MAC membership and the reasons she’s involved. She shares some of the background behind the formation of the organization. The founders, she said, wanted to feel free to share information with each other about fraud and “didn’t want to be constricted by competition.”

Fraud And Compliance And Rules, Oh My!

The pain of keeping all the rules and regulations straight for a payment facilitator is only exceeded by the pain of not keeping them straight. A PF has to protect itself from merchant problems with underwriting and monitoring, while adhering to the mandates from card brands and acquirers. It’s a lot now, but as everyone knows, there’s more coming.

As heard in this week’s edition of the PaymentFacilitator.com podcast, the best PFs can do to mitigate excessive regulation from without is to do more within, said Rich Consulting president Deana Rich, moderator of the session Emerging Threats Cage Match: Compliance v. Fraud at the second annual Payment Facilitator Day at Transact 16 in April.