As you know, on Friday, July 13th, 2012 it was announced that Visa, MasterCard, and a number of large credit card issuers had reached an out of court Settlement with US Merchants regarding a Class Action Lawsuit on Interchange and card rules. The Settlement is complex and impacts ALL Merchants and acceptors of credit cards, not just those involved in the Class Action suit.

Unfortunately, the media has not gotten everything quite right and has omitted several important considerations and after speaking to some Merchants at a recent conference, it seems that there is a need for more information and clarification of the issues. I have created an Advisory, which you can view by clicking here or by visiting RPGC.com, to help guide interested parties in understanding the details of the Settlement.

The Advisory is not legal advice nor a call to action (you all get to decide that part).  My aim is to offer information based on my learnings from talking with attorneys and from reviewing the Settlement document myself. The documents can also be used by you to explain the issues to your respective Legal Departments and other Senior Managers so you can all make a better informed decision on how to proceed. Of course, I also recommend reviewing the Settlement itself in full if you haven’t already done so.

If you’d like additional information, desire clarification on the issues, or would like contact information for appropriate Legal advice, do not hesitate to contact me.

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Update from the Administrator

by Heather Hewitt

As you might have noticed, this blog has been slow to get off the ground! René has been hard at work helping companies with their payments issues, and as a result, hasn’t had much time to create blog posts. There have been some changes to the site, however–our @OnPayments Twitter feed is now on the sidebar, and there is a link to the Twitter page so that you can follow us there. We would love to have guest bloggers, so if you are interested or know someone who might be, please contact us at info@rpgc.com.

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From the Administrator

December 2, 2011

My name is Heather and I am the admin for Perspectives on Payments. I’d like to take a moment to discuss this site, since I have been asked by a few people what kind of blog tool and theme has been used to create perspectivesonpayments.com. This is a WordPress site, running the Thesis Theme from DIYthemes. [...]

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Hello, my friends

March 29, 2011

Before I begin “blogging”, let me introduce (or re-introduce as the case might be) myself to you out there in the Payments Industry.
After five years as Senior Director of Industry Relations and Strategy for PayPal, I am striking out on my own again and re-launching RPGC Group. Those of you who have known me for [...]

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