
Navigating the Investment Landscape: Trends Shaping the Future of Payments
The payments industry stands as a cornerstone of global commerce, experiencing a period of unprecedented transformation fueled by rapid technological advancements and evolving consumer behaviors. Recent investment activities within this dynamic sector serve as critical indicators, illuminating the pathways of future innovation and the shifting priorities of industry stakeholders. As a seasoned observer and advisor in this space, RPY Innovations brings a unique perspective, drawing upon decades of experience to analyze these trends and their profound implications for the future of how we transact. The influx of capital into various segments of the payments ecosystem underscores a collective recognition of the immense opportunities that lie ahead, as well as the imperative to adapt to a rapidly changing world.

The Ever-Evolving Landscape of Global Payments
This overview will explore the global payments industry's dynamic and rapidly evolving landscape, shaped by technological advancements, shifting consumer preferences, and changing regulatory frameworks.

Credit Card Competition Act - Perspective
As of this writing, there is no finalized “Credit Card Competition Act 2025.” What has existed are various proposals, often referred to under this name, introduced in several congressional sessions. The following points assume a future scenario in which an expanded version of this Act is passed, leading to significant implications for Acquirers.

What is the new Taxonomy?
Ultimately, the new Risk Taxonomy in the Visa Acceptance Risk Standards exemplifies Visa’s proactive stance on protecting the integrity of global commerce. By clearly defining and compartmentalizing risks, this framework encourages a more resilient, cohesive, and forward-thinking payments ecosystem—one where acquirers, issuers, and merchants can operate with greater confidence and agility.

Visa Acceptance Risk Standards: The Difference between Mandatory and Recommended Controls
In an era of increasing cyber threats and complex regulatory expectations, understanding the difference between mandatory and recommended controls is pivotal. Compliance with mandatory requirements is non-negotiable, but leveraging recommended controls can elevate a business’s risk management strategy. By integrating both sets of controls, merchants underscore their dedication to a safer transaction environment—ultimately benefiting their brand, their customers, and the broader payments ecosystem. In the future, the payments industry that adopt recommended measures will be better positioned to adapt to evolving threats and maintain trust across the digital commerce landscape. An integrated approach ensures businesses remain resilient in an evolving ecosystem.

New Requirement for Checking the Terminated Merchant File Reporting Before a Merchant is Onboarded
Visa’s recent update to require an Acquirer to check the Terminated Merchant File (TMF) before onboarding a new merchant signals a significant change in the payments industry. The TMF contains merchants who have been flagged for violations or fraudulent activity in the past, serving as a safeguard against risky partnerships. By making this check mandatory, Visa aims to foster a more secure ecosystem, reduce financial fraud, and protect both the Acquirer and its broader network.

Decoding the Interchange Enigma: What ISVs and Merchants Need to Know
Interchange fees represent a substantial operational cost for businesses accepting card payments. While these fees are a necessary part of the payment ecosystem, a deep understanding of their structure and influencing factors empowers payment processors to optimize payment strategies and minimize expenses.
The payment processor’s acquiring bank pays interchange fees to the card-issuing bank for each transaction. This fee covers the costs associated with issuing and maintaining cards, providing rewards, managing fraud and bad debt, and the inherent risk assumed by issuing banks. However, the complexity of interchange fee schedules can make it challenging for processors to understand precisely what they are paying and why.

Visa has transitioned from quarterly to monthly reviews for exception reporting
Ultimately, the new Visa Acceptance Risk Standards underscore the industry’s commitment to innovation, security, and trust. By refining its approach to exception reporting, Visa fosters a healthier payments ecosystem—one where businesses can operate confidently, customers feel protected, and technology-driven insights shape a resilient and future-ready marketplace.

Update on Visa’s new Standards for Third Party Compliance
Visa’s retirement of the Global Acquiring Risk Standards (GARS) and introduction of the new Visa Acceptance Risk Standards (VARS) signals a significant shift in how acquiring banks, payment facilitators, and other stakeholders manage risk and ensure compliance. The overarching goal remains to protect the payments ecosystem from fraud and reputational harm, but VARS introduces a more dynamic framework that places a stronger emphasis on third-party oversight.

Navigating the Labyrinth: Deciphering the Merchant of Record Model for Payment Facilitators
In the dynamic world of payment processing, Third Party Agents (TPAs) face a constant barrage of decisions, each carrying significant weight. One of the most impactful, yet often obfuscated, is the choice of a MID model for their payments program.