IoT Security & Secure Payment Transactions Roundtable
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This document summarizes a panel discussion on security for Internet of Things (IoT) devices and secure payment transactions. The panel discussed trends driving the need for improved payment security within IoT, including the evolution of use cases, increased cyberattacks, adoption of digital currencies, and new regulations. Panelists addressed how different players in the IoT payment ecosystem are addressing security challenges, including the roles of devices, semiconductor vendors, platforms, payment vendors, and existing payment networks. The role of new technologies like blockchain was also discussed. The panel provided an opportunity for open discussion between the presenters and audience.
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IoT Security & Secure Payment Transactions Roundtable
- 1. IoT Security & Secure Payment Transactions 6 Mar, 2018 © 2018 Whiteboard Venture Partners
- 2. Roundtable Panel Abhijit Solanki (moderator) Whiteboard Venture Partners Mansour Karimzadeh Secure Payment Academy Nancy Zayed MagicCube Dr. Christopher Williams Exponent © 2018 Whiteboard Venture Partners
- 3. IoT Security concerns are similar to IT Security gaps… © 2018 Whiteboard Venture Partners Information Application Infrastructure Management Is ‘my’ data secure? Can someone tamper ‘my’ apps? Am ‘I’ protected from OS vulnerabilities? Do I know everything about ‘my’ footprint?
- 4. ...but require offerings tailored to customer segment Automotive Security Industrial Security Medical Device Security Consumer Home Security © 2018 Whiteboard Venture Partners Illustrative examples
- 5. VC investments in IoT Security growing >100% y-o-y 0 100 200 300 400 2015 2016 2017 2018 YTD VC funding (USD Millions) © 2018 Whiteboard Venture Partners Number of companies funded 34 42 1060 Source: Crunchbase, internal analysis
- 6. Agenda for panelists • What trends/standards are shaping the need for payment security within IoT? – Evolution of use cases: Digital Remittance, Mobile Wallets, mPOS, connected cars – Increase in cyberattacks globally – Adoption of digital currencies (BTC, ETH,..) – Regulatory (data-privacy) and Industry initiatives • How are the different players in the IoT payment ecosystem addressing these challenges? – Role of the device (mobile, wearable,..) – Role of semiconductor vendors – Role of the technology platforms (iOS, Android,..) and payment vendors (Fiserv, PayU,..) – End user experience over existing payment networks (Visa, Mastercard,..) • What is the role new technologies (ex: blockchain) and companies can play? – Evaluation criterion (relevance, maturity,..) • Open Q&A with audience © 2018 Whiteboard Venture Partners
- 7. THANK YOU abhijit@whiteboard.vc © 2018 Whiteboard Venture Partners
Editor's Notes
- Identify Protect Detect Respond Recover
- 114% CAGR over 2015-2017
- Need for PCI in addition to EMV Need for data integrity EMV payment transaction is supposed to be secure. Why do they need PCO security in addition to EMV? How is an Apple payment transaction created from a stored credit card in the wallet and how is it secured?