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EVENT DETAILS |
Since man first paid with rocks (gold, diamonds still in use today) there have been only 3 innovations in payment: cash, checks and payment cards. Cards are the newest method just 66 years young but are they ready for retirement?
The industry stands on the edge of unparalleled payment innovation: mobile wallets, wearables, cloud-based payment cards, tokens and digital cash. What do they all mean and which ones are likely to actually change the way we pay for things?
The banks remain key players in the deployment of major mobile payment solutions and the operation of the rapidly-evolving payments ecosystem, but the upheaval created by new technology entrants such as Apple, Google and Samsung, processing innovators such as Stripe, and P2P providers such as Venmo is profound. Simultaneously, the regulatory environment in the United States for consumer financial services under the Dodd-Frank Act is characterized by ever more prescriptive rules, greater discretion and authority for both federal and state regulators (including the CFPB and states attorneys general), and more high-stakes enforcement actions against financial institutions and their service providers. These trends raise fascinating questions concerning the proper role of regulation as the commercial impact of new technology platforms transforms the payments landscape and puts increasing pressure on banks and their relationships with consumers and merchants.
On October 15, a panel of industry experts with global experience will share an informative, entertaining look at todays payment innovations. This talk will consider:
- Who is leading mobile payment innovation? Apple Pay relied on the credit networks EMV standard but stumbled when going direct to issuers. Google and Samsung have joined the Pay bandwagon but what do the credit networks, banks, merchants and (the oft forgotten group) consumers think about the future of mobile payment?
-Are the banks unduly disadvantaged by tighter regulations uniquely applicable to them and should new entrants be subjected to similar standards? To what degree are the new players reaping the benefit of gaps in regulatory coverage? What kinds of risks and tradeoffs does the emerging landscape present and what if anything should be done as a matter of U.S. regulatory policy?
- What technologies are in play and why? Seriously, what do the terms EMV, PAN, Tokenization, CP/CNP, P2P, 3DS v1 + v2, Device binding, SE, TEE, HCE, NFC, KeyChain, KeyStore, Blockchain, Wallet, White-box crypto, QR code, Bluetooth low-power OOB, TouchID, and Active/Passive Biometrics really mean? How do these technologies work together or compete? When are they available? What do you do when they are not? Why should a financial institution, merchant, user or you care?
- How are mobile payments going to be made easy AND safe? If either is in question, are mobile payments dead? Who defines the customer experience? How does privacy with a device thats with you 24/7 factor into a frictionless user experience and auto-loyalty benefits? How do you stop KYC (Know Your Customer) from becoming uncomfortable?
AGENDA
6:00PM - Check-in and refreshments
6:30PM - Panel discussion
7:30PM - Q&A
8:00PM - Post-event networking
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SPEAKERS
Robert Tibbs, Chairman and CEO, Forbes Digital Commerce
Robert Tibbs is Chairman and CEO of Forbes Digital Commerce, and has built global mobile-enabled payment solutions for some of the worlds most important technology businesses. Having lived all over the world, but now based in San Francisco, Robert has built several technology businesses in the US, Europe, Asia, and Africa and has a broad and deep exposure to international business. Ironically, his passion for the intersection of human behavior and technology comes from his academic study of behavioral science, not technology. The convergence of mobile and cloud technologies has brought biometric and non-biometric authentication into the forefront of new and tremendously powerful financial solutions. He is a frequent speaker on these topics, most recently at the investment conference hosted by US President Barack Obama in Washington earlier this year.
Andy Lorentz, Partner, Davis Wright Tremaine
Andy Lorentz is a partner at Davis Wright Tremaine and the leader of the firms Prepaid and Emerging Payments team in the Financial Services Group. Andy and the team assist banks and other financial institutions, technology companies (large and small), and retailers in executing their prepaid, mobile and other electronic payments solutions. While he counsels clients on the full range of regulatory and consumer protection issues related to retail financial services (a veritable alphabet soup of regulations) and helps execute transactions in the United States and abroad, his job isnt just to explain how or whether a law or regulation applies. Instead, the vision of his team is to find the straightest path through the maze of legal and regulatory obstacles that stand in the way of clients realizing their strategic payments objectives. Andy is a frequent speaker at industry events and the DWT team blogs at www.paymentlawadvisor.com, which he encourages you to visit to gain access to a wealth of useful resources.
Paul Miller is CEO of mSIGNIA, an innovator in mobile app security for customers and strategic investors in the mobile payment market. mSIGNIAs patented method uses predictive data analytics on user data added to a smartphone to reliably recognize the device, passively authenticate the user regardless of the device and secure data using Contextual Key Crypto. Prior, Pauls positions include Managing Director for Symantec and Norton mobile security products worldwide, Managing Director of Mobile Commerce at Gemalto and leader of smart token strategy at CyberTrust. His experiences include US rep on t2r, a 2005 European Commission project on sharing mobile operator SIMs for payments, and appearing as a mobile security expert on the Today Show and Fox News.
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