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Bank Consortium

The Bank Consortium is a community of MAC members who manage payment risk within banking organizations.

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Mission

The mission of the Bank Consortium is to connect and educate people in the banking industry on issues related to the processing of payments. To help them gain confidence to support the protection of the payments infrastructure, stay in compliance with their obligations as clients of the payment networks, and stay updated on industry best practices.

Activities

Engaging peer-to-peer conversations 

The Bank Consortium meets monthly to discuss trends, regulatory developments, emerging topics, and programmatic activities of interest to its members. 

Later this year we will be adding a moderated forum to allow more asynchronous communications among members of the consortium. We will also provide a directory of consortium members which only members of the consortium can see and access.   

MAC PACK

The Consortium will soon release the MAC Payments Acquiring Compendium Kit, also known as the MAC PACK. The MAC PACK is a high-level overview of the payments acquiring space and provides an in-depth glossary of terms.  The document will serve as a resource for members new to acquiring and for members to share with their auditors or law enforcement personnel on merchant acquiring activities. More information about the MAC PACK will be coming soon and will be a benefit exclusive to MAC Member organizations.

Resources and Education for Members
The Bank Consortium is a vital contributor to MAC's education and events. They create a panel session for MAC's signature educational event (Level Up), and nominate speakers and topics for other webinars. They also invite occasional speakers to their monthly meetings to support discussion and education for consortia members.

Membership

The Bank Consortium has a restricted membership and new members must apply to the SIG to join.  There is no additional membership fee for SIG participation.

To be a member, an organization must be a merchant acquiring banking institution with a Bank Identification Number (“BIN”) and/or Interbank Card Association (“ICA”) number (“Eligible Bank”) OR be a wholly-owned subsidiary of such merchant acquiring banking institutions that provide merchant acquiring services on behalf of an eligible bank.

For additional details on membership eligibility or other questions about the Bank Consortium, please contact us at [email protected] and we will direct your inquiry to the correct volunteer or staff member for response.

Last updated 4/15/2021