The Ever Changing Payments Landscape: EMV & Mobile Payments (Conference Presentation Slides)
 

The Ever Changing Payments Landscape: EMV & Mobile Payments (Conference Presentation Slides)

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EMV Chip Cards, NFC and QR Codes are all new technologies in the payments landscape that can have an impact on financial institutions. With the payments industry continuously growing, credit unions ...

EMV Chip Cards, NFC and QR Codes are all new technologies in the payments landscape that can have an impact on financial institutions. With the payments industry continuously growing, credit unions need to think differently about their credit business and how this growing technology can affect their members. Why are these technologies important for my credit union? How can I create opportunities for my business with these technologies? In this recording, you will learn more about how your credit union can adapt to what the future forecast looks like for this growing industry. Learn more at: www.nafcu.org/vantiv

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The Ever Changing Payments Landscape: EMV & Mobile Payments (Conference Presentation Slides) The Ever Changing Payments Landscape: EMV & Mobile Payments (Conference Presentation Slides) Presentation Transcript

  • The Ever-Changing Payments Landscape: EMV & Mobile Payments Presented by Dean Seifert Senior Vice President Product Development & Innovation National Association of Federal Credit Unions l www.nafcu.org
  • 2National Association of Federal Credit Unions l www.nafcu.org
  • WHAT WHY are all of these are these new technologies technologies? important to my institution? HOW do I position my institution to create opportunity from these technologies? 3National Association of Federal Credit Unions l www.nafcu.org
  • The What 4National Association of Federal Credit Unions l www.nafcu.org
  • First – Let’s Baseline on Terms Stands for: Europay, Mastercard VisaEMV Global standard for the inter-operation of circuit cards Stands for: Near-Field CommunicationsNFC Set of standards for wireless communications between mobile devices QR Stands for: Quick Response Codes A set of standards for encoding dataCodes in a two-dimensional barcode 5 National Association of Federal Credit Unions l www.nafcu.org
  • EMVFoundation for Next Generation of Payments 6 National Association of Federal Credit Unions l www.nafcu.org
  • EMV: A Global Reality 7National Association of Federal Credit Unions l www.nafcu.org
  • EMV: Changing Cardholder Behavior 8 National Association of Federal Credit Unions l www.nafcu.org
  • EMV: Building a Card Application 9 National Association of Federal Credit Unions l www.nafcu.org
  • EMV: Choosing an Interface 10National Association of Federal Credit Unions l www.nafcu.org
  • The Timeline: What’s Coming When VISA MasterCard DiscoverApril Acquirers and sub- Acquirers and sub- Acquirers and sub-2013 processors (Mandate) processors (Mandate) processors (Mandate) Maestro ATM liability shift1 Oct Merchant Account2013 Data Compromise(ADC) relief (Phase I) Oct US Liability Shift1 US Liability Shift2 US Liability Shift2015 Merchant ADC Relief (Phase II) Oct Automated Fuel AFD Liability Shift2 AFD Liability Shift2017 Dispenser (AFD) Liability Shift1 11 National Association of Federal Credit Unions l www.nafcu.org
  • The NFC Ecosystem…Who Pays? 12 National Association of Federal Credit Unions l www.nafcu.org
  • QR Codes: Coming to a Shopping Experience Near YouRetail / In-Store Restaurant Print Ads Pay Online Pay Bills ATM / Cash Access Ecommerce 13 National Association of Federal Credit Unions l www.nafcu.org
  • Let’s Talk Mobile 14National Association of Federal Credit Unions l www.nafcu.org
  • Mobile Payments: The Reality 15 National Association of Federal Credit Unions l www.nafcu.org
  • What We Hear from FIs and Retailers• FI’s and Retailers don’t want another brand between them and their customers• New intermediaries in proposed NFC-based ecosystems make the business model nonviable• Solutions that require new phones and new POS hardware will take many years to reach critical mass• Winning solutions will need to overcome the real and perceived security and data ownership issues• Monetizing consumer payment transactions via time & location sensitive ads & offers is the big prize 16 National Association of Federal Credit Unions l www.nafcu.org
  • The Why 17National Association of Federal Credit Unions l www.nafcu.org
  • EMV: Why Now? 18National Association of Federal Credit Unions l www.nafcu.org
  • EMV: Travelers & Denial of Service 19 National Association of Federal Credit Unions l www.nafcu.org
  • Fraud Trends in Canada 2008 – 2010 Holiday Spikes No Holiday Spike Rapid Fraud Decline 20 National Association of Federal Credit Unions l www.nafcu.org
  • Fraud Trends in USSignificant CrossBorder FraudGrowth in the US 21 National Association of Federal Credit Unions l www.nafcu.org
  • EMV: Fraudsters Target the US• The US… • Accounts for 47% of global card fraud • Generates 27% of total card volume• Global average fraud rate is 4.5 bps• The US should be in the 10 bps range… and the majority is domestic fraud 22 National Association of Federal Credit Unions l www.nafcu.org
  • Consumers want asimpler shopping journey 23 National Association of Federal Credit Unions l www.nafcu.org
  • Solutions to Shop…Not Just Pay Pre Purchase Post Pay• What is out • Where can I • What did I get? there? pay? • If I don’t have it• Where can I • How can I pay? now, when it is find it? coming? • What’s my• Who will give preference? • What benefits can I me value? expect now + in future? 24 National Association of Federal Credit Unions l www.nafcu.org
  • Mobile PaymentsStrategic Considerations• Standards vs. entrepreneurs• Battle for the NFC Secure Element• NFC vs. Cloud• Next Generation POS Systems 25 National Association of Federal Credit Unions l www.nafcu.org
  • Mobile Payments – Market Makers 26 26 National Association of Federal Credit Unions l www.nafcu.org
  • The EMV Payoff 27 National Association of Federal Credit Unions l www.nafcu.org
  • The How 28National Association of Federal Credit Unions l www.nafcu.org
  • Enterprise Impact of EMV 29National Association of Federal Credit Unions l www.nafcu.org
  • Traits of a Winning Payment SystemReliabilitySecurityEase of useWallet functionalityAcceptanceDevice availabilityBeyond the Payment 30 National Association of Federal Credit Unions l www.nafcu.org
  • Next Generation Payments Top 10 To Do List10. Assign an Expert9. Get to know your Processing Partners8. Don’t be afraid to ask for help7. Know your company’s limits6. Upgrade your cards “naturally” 31 National Association of Federal Credit Unions l www.nafcu.org
  • Next Generation Payments Top 10 To Do List5. Build a Traveler program4. Ask the hard question3. Place bets - more than 1!2. Be consistent with your Brand1. Remember your Members 32 National Association of Federal Credit Unions l www.nafcu.org
  • Thank You Dean SeifertSVP – Product Development & Innovation dean.seifert@vantiv.com (720) 295 0110 @deanseifert National Association of Federal Credit Unions l www.nafcu.org