ETA Announces First Companies to Achieve ETA Self-Regulation Certificate

WASHINGTON, Feb. 14, 2019 /PRNewswire/ -- The Electronic Transactions Association (ETA) today announced the first group of payments technology companies who have successfully achieved participation in the ETA Self-Regulation Program (ETA SRP).

"The ETA Self-Regulation Program affirms the payments industry's commitment to maintaining robust risk management programs and provides a benchmark for the industry," stated Amy Zirkle, Vice President of Industry Affairs of ETA. "These five companies have achieved a high standard of risk management, and we are proud to welcome them as participants."

The ETA SRP provides ISOs, Payment Facilitators and acquirers the ability to demonstrate a deep commitment to industry self-regulation. The ETA SRP seeks to improve security and reduce risk in the payments industry by identifying and acknowledging underwriters who have a critical understanding of the key components essential to mitigate instances of abuse to consumers in the payments system.

The following companies have successfully demonstrated this commitment by attesting that they adopt and utilize the ETA Guidelines on Merchant and ISO Underwriting and Risk Monitoring or the ETA Payment Facilitator Guidelines:

• AffiniPay –ISO/Processor
• First American Payments Systems – ISO/Processor
• Forte Payment Systems - Payment Facilitator
• International Bancard - ISO/Processor
• Unified Payments - ISO/Processor

"AffiniPay is proud to be among the first companies to attest to ETA SRP's rigorous standard of practice," said Amy Porter, CEO of AffiniPay and member of the ETA Board Presidential Advisory Council. "It is up to all of us to demonstrate that vigorous risk management and underwriting is paramount to the safety and security of the payments ecosystem."

"ETA's Self-Regulation Program affirms the diligence that First American Payment Systems brings to every aspect of our risk management process," said Neil Randel, CEO of First American Payment Systems and member of the ETA Board of Directors. "These guidelines are a direct outcome of the Association's Risk, Fraud & Security Committee, and give our industry a clear and consistent set of policies for underwriting and risk management. I encourage fellow payments providers to apply for their ETA Self-Regulation designation."

The ETA Guidelines are regularly updated by ETA members with expertise in the relevant areas. They are grounded in the operating regulations of the various payment networks, existing governmental regulations, and industry best practices for risk management, to assist those developing risk management policies within the payments industry.

About ETA

The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $21 trillion in purchases worldwide and deploying payments innovation to merchants and consumers.

CONTACT:
Laura Hubbard
202-677-7406
[email protected]

SOURCE ETA

Related Links

http://www.electran.org