The National Retail Federation (NRF) has never been a huge fan of the PCI Security Council. But in a detailed note sent to the U.S. Federal Trade Commission (FTC) late last month, NRF’s lawyers crafted an impressive takedown of PCI, arguing that PCI represents a monopoly-like attempt by the card brands to control retailers.
The trigger for the FTC letter appears to be concerns that the FTC might incorporate PCI compliance with recommendations it is preparing-a move that would solidify and increase PCI’s leverage and power. This is one of these arguments that is best articulated in the abstract. At the legal abstract hypothetical level, NRF makes an impressive-sounding case that PCI is indeed a powerplay by the cardbrands.