If you want to hang out at the Federal Reserve Bank of Atlanta, exchanging payment facilitator information and battle scars, you only need to join the Merchant Acquirers Committee (MAC). New and veteran payment facilitators can climb their steep learning curve with help from the members of the MAC; experienced peers, vendors, lawyers, government representatives and card brands exchange information and lessons learned to advance the cause of the payments industry.
“Membership in MAC is a huge opportunity because you can apply your questions to a wealth of knowledge from years and years of experience,” said Dione Hodges, MAC’s senior director of risk management. “From a payment facilitator standpoint, what you’ve found challenging today someone has already experienced previously.”
Hodges said in this week’s edition of the paymentfacilitator.com podcast that the organization is prioritizing the recruitment of payment facilitators. Waiting for new members is a roster of risk management professionals sharing education through daily electronic messaging and periodic events featuring networking and training.
Monthly webinars cover topics like risk management and underwriting, while an annual national gathering and regional training events – including one in mid-August at the Federal Reserve Bank in Atlanta – give members wall-to-wall exposure to give-and-take on benchmarking, best practices and fraud monitoring, KYC and AML.
Hodges said the MAC communications and events can educate and provide discovery as well.
“The product you’re offering can be matched up with a procedure that’s already in place with an acquirer to come up with something that makes you more efficient and better from a payment facilitator standpoint,” Hodges said.