EPC Applauds Latest White House Executive Order on Modernizing Payments

WASHINGTON, DC – Electronic Payments Coalition Executive Chairman Richard Hunt issued the following statement on President Donald Trump’s latest Executive Order on improving payment efficiencies:

“Credit card payment networks are the safest, most secure, most convenient way for Americans to make payments. The Administration should be applauded for their work to ensure financial safety and protect the efficiency of government payments.

“Instead of trying to weaken our secure credit card networks to benefit the largest corporate mega-stores, who have consistently increased prices on American families, supporters of the flawed Durbin-Marshall mandates should follow the President’s lead in recognizing the benefits electronic payments offer America’s economy. In fact, credit and debit card payments facilitated $12 trillion in economic activity last year alone – while protecting households and small businesses from fraud.”

NOTE: A recent document from EPC outlined the cost-saving benefits of credit and debit card payments when compared to other forms of payment like cash or check. Small businesses, local government and even National Parks have recognized these benefits and are increasingly turning to card payments over traditional, less secure, less efficient payment methods.