![Abstract blue digital background with a central light bulb and cogwheel icon representing innovation, surrounded by floating digital elements and an upward-trending graph, indicative of positive technological growth and security](/-/media/Project/MRC/MRC/Advocacy/Images/Promo-Images/Latest-Wins-and-Outcomes.png?h=240&iar=0&w=1920&hash=6EA6C785826DA4F5F24416243C7DEC32)
Latest Wins & Outcomes
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Japan
METI and SCA
MRC
is having on-going talks with merchant members operating in Japan regarding
concerns around the impact of a potential mandate on SCA implementation. MRC is
scheduling a further meeting with merchants to discuss further and will provide
an update to the financial regulator (METI) there on the outcome of the
meeting. METI’s JCA working group has already commended the MRC for its work in
this regard.
View the Case Study
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Global
Mastercard Authorization Optimizer
The MRC worked with Mastercard to
delay the start of fees for this mandatory NSF decline recovery service (from
July to October 2023). We continue to partner closely with our merchants and
acquirer members to assess its readiness and effectiveness.
View the Case Study
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MRC Webinar on PSD3 & PSR
On September 12, 2023MRC ran a webinar with expert speakers to discuss the European Commission Proposals on PSD3 and PSR, advising merchants on the potential impacts and the process and timelines for the regulation and Directive.
View the Case Study
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Australia
DNDCs & Tokenisations
The
Reserve Bank of Australia (RBA) asked MRC to work together with AusPayNet to
produce a process and plan for the industry to help resolve the issue of data
breaches, with a view to including tokenization and other options such as PCI
standards as mitigants. The aim is to avoid a mandate and to ensure choice for
merchants. The topic of card data retention is also being discussed as MRC
merchants have a concern about business operations if cardholder data cannot be
retained. APN and MRC remain in consultation on the matter.
View the Case Study
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U.S.
Federal Reserve
MRC
has been engaging the U.S. Federal Reserve regarding FedNow
and merchant impacts. The Reserve has seen MRC as a risk organization.
It has been made clear MRC is a payments organization and the Reserve will
continue to engage MRC when considering future payment-related policies.
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Global
Card Network Updates
August
meetings took place on the 15th and 16th of 2023, with the next cycle of
events planned for February 14th and 15th 2024. Very well attended with
clear updates provided from Visa and Mastercard on upcoming changes and the
impact on merchants.
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Global
Acquirer Leadership Committee
The MRC commenced this forum in March 2023 to ensure we’re in sync with Acquirer issues and pain points related to card network fees and services, bulletins, upcoming mandates and other issues.
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Communications
MRC
is introducing a Monthly
Advocacy Round Up to
share with all members and in the public domain regarding activities and
monthly ‘wins’.Videos
will be posted on LinkedIn with quick updates and blog posts will be more
active.