As we embrace the possibilities offered by the technological revolution that is leading to the reinvention and creative destruction of payments, we face numerous challenges in creating an industry that serves society. Some of these challenges entail seizing new opportunities for helping society while others...
Innovations in mobile commerce could intrude on consumer privacy and risk the disclosure of information that could harm consumers. Government regulators such as the FTC and the European Commission as well as consumers are worried about this. Consumer concerns and government regulation could impede the...
Most people around the world don’t have bank accounts. Many don’t even have a bank near them where they could get a bank account. They pay with cash and sometimes barter. Their miserable situation is self-reinforcing. When consumers and merchants lack the basic tools of...
Electronic payments systems are subject to catastrophic risks of failure from software malfunctions and cyber attacks. Isolated failures wreak havoc only on the consumers and businesses directly affected by it. Thousands of customers couldn’t pay their bills or get money out of their accounts when...
Many players have their fingers on some aspect of the mobile payments experience. Handset manufacturers, operating system providers, app developers, mobile network operators, payment providers, government regulators, and maybe even your Uncle Charlie are all doing something that will affect the experience. Maybe it will...
New technology has made it possible to revolutionize how, and with what, merchants and consumers interact at the physical point of sale. But the fact that something is possible doesn’t mean that it is worthwhile. The new technology provides endless possibilities. That comes with multiple...