AI, Digital Assets, Privacy and Data Protection, and Open Banking are leading issues for the payments industry in 2025

WASHINGTON, Jan. 16, 2025 /PRNewswire/ -- The Electronic Transactions Association (ETA), the world's leading trade association for the payments industry, today announced its comprehensive public policy priorities for 2025, focusing on fostering innovation, especially for small businesses, while ensuring consumer protection across federal, state, and Canadian markets.

"The payments industry continues to drive transformation in how consumers and businesses, especially small businesses, conduct commerce," said Jodie Kelley, CEO of ETA. "Our 2025 policy priorities reflect the industry's commitment to responsible innovation, strong consumer protections, and expanding access to secure financial services across North America."

ETA's 2025 policy agenda emphasizes several key areas:

Artificial Intelligence in Payments - The payments industry leads in deploying AI and machine learning technologies to enhance security, reduce fraud, and improve the consumer experience. ETA advocates for a technology agnostic, principles-based approach that balances innovation with consumer protection. This includes working with policymakers to establish clear definitions of AI terms and ensure new regulations complement existing frameworks.

Digital Assets - As digital assets and payment stablecoins continue to evolve, ETA supports creating appropriate regulatory frameworks built on five core principles: proper asset definition, risk-tailored regulation, consumer protection, harmonization with existing frameworks, and responsible innovation.

Privacy and Data Protection - Maintaining consumer trust through robust privacy protection remains fundamental to the payments industry. ETA supports harmonized, principles-based privacy laws that enable continued innovation in fraud prevention while ensuring consumer rights regarding their personal information.

Open Banking - ETA advocates for comprehensive, principles-based open banking policies that leverage private sector innovation while putting consumers in control of their financial data.

"The payments industry processes over $47 trillion annually in purchases and P2P payments worldwide," said Scott Talbott, EVP of ETA. "Our 2025 priorities reflect our continued commitment to maintaining a secure, innovative, and inclusive payments ecosystem that serves all consumers and businesses while implementing rapidly evolving technology."

About ETA: The Electronic Transactions Association (ETA) is the world's leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $47 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers. www.electran.org

Media contact: Scott Talbott, [email protected]

SOURCE Electronic Transactions Association (ETA)