Advertisement

Payments Summit Addresses Consumers’ Mobile Security Concerns

The 2012 Payments Summit, hosted by the Smart Card Alliance, probed the experience of several smart card practitioners and suppliers, and stimulated the understanding, adoption, use and widespread application of smart card technology. The conference, held in early February 2012, focused on EMV migration, NFC mobile payments and open transit payments.

The 5th annual conference, which drew more than 500 industry professionals, featured experts from Isis, MasterCard, PayPal and Visa. Notable speakers included:

  • Ed McLaughlin, Chief Emerging Payments Officer, MasterCard Worldwide;
  • Jennifer Fischer, Head of U.S. Payment System Risk, Visa, Inc.;
  • Jim Stapleton, Chief Sales Officer, Isis; and
  • Patrick Gauthier, Head of Market Intelligence, PayPal.

“With card, mobile and transit payments industries moving rapidly towards game-changing technologies, the summit presented an ideal setting for all stakeholders to gather and collaborate on what 2012 will mean for their individual industries,” stated Randy Vanderhoof, Executive Director of The Smart Card Alliance, in a press release. Stakeholders also discussed how they can come together on convergent solutions, he said.

Advertisement

Addressing Consumers’ Concerns With Mobile Payments

The event’s primary topic of discussion was mobile payments and whether consumers would trade plastic cards for their mobile phones as a payment method. Addressing this issue, David Holmes, VP of Mobility and NFC Solutions for Identive Group, revealed that smart posters and tags — objects with embedded NFC technology — are quick and easy to roll out. “Implementing smart posters and tags could help facilitate the behavioral changes consumers need to get accustomed to mobile wallet use,” he said.

Although the average consumer has one mobile phone, mobile payment should be accessible on all types of devices, according to Hans Reisgies, SVP and Head of Sales and Business Development for Sequent Software. “Consumers want access to all of their cards on their phone, and the ability to use any mobile device they choose,” he noted. “To make this a reality, payment managers of the secure elements such as Google Wallet and Isis should work together to support these form factors, and define and monitor rules.”

Google And Intel Discuss Motives Behind Mobile Payments

During the conference, a number of mobile payment solution providers shared their perceptions of the mobile payment industry. According to Google Wallet’s Product Manager Mark Andrews, the initial focus of mobile is on payments, offers and loyalty. “Interaction with your environment is what NFC is all about,” he said. Andrews also made the case for wallet frameworks, which are designed to provide portability for consumers and are poised to expand the mobile industry.

Although personal computers are the go-to device for online shopping, consumers continue to be concerned with online fraud. In an effort to ease this pain point, Thomas Calvert, Leader and GM of Personal Mobile Commerce at Intel, discussed the company’s upcoming Ultrabooks with NFC capabilities. Intel plans to enable multi-factor authentication with integrated yet separate and trusted hardware capabilities. This will enable the PC to act as a POS device, offering consumers the option to scan selected items or a card using a PC.

Advertisement

Advertisement

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: