|[August 22, 2013]
Newly Formed Third Party Payment Processors Association Objects to Discrimination Against Certain Classes of Payments
WASHINGTON --(Business Wire)--
A group of leading third party payment processors across the nation has
formed the Third Party Payment Processors Association (TPPPA). The
not-for-profit association advocates for third party payment processors,
their financial institutions and the merchants and consumers who benefit
from the payment services these processors provide.
The founding members - all leading third party payment processors - came
together in response to recent actions by regulators and law enforcement
aimed at eliminating payments deemed to be objectionable.
"We object to the actions by anyone targeting any class of legal
payments," said Marsha Jones, Director of the TPPPA. "When payment
procesors are targeted in an effort to shut down a class of payment or
an industry, the entire payments system is put at risk. It is impossible
to discriminate against a single class of payments without hurting the
"Millions of consumers rely on the payments system to get paid by their
employer, make their charitable contributions, pay their gym
memberships, and much more. All of that is being put at risk by these
"These kinds of actions threaten to cause irreparable and lasting harm
to our members and to the entire payments network. We will work to
educate the industry about the unintended consequences of these actions.
We look forward to a productive dialogue with government officials and
other industry leaders about how to ensure the safety, integrity and
efficiency of the payments system."
About the TPPPA
The Third Party Payment Processors Association is a not-for-profit
association of leading third party payment processors. The Association
advocates on behalf of third party payment processors, their financial
institutions, and the merchants and consumers who benefit from the
payment processing system. Members must apply and be accepted into the
Association. All members agree to abide by a strict Code of Conduct.
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