Meet the Wallet that's Changing Retail Payments

 

When it comes to payments, merchants are focused on cultivating relationships with the customer, managing transaction costs and keeping the user experience simple.

Meet the Wallet that’s Changing Retail Payments... 

Exclusively at All Payments Expo Europe, you’ll hear from Benoit Liagre, the CEO heading up flash’N pay – the first mobile payment created by retailers to be independent of MNOs or FIs.

 At All Payments Expo Europe, you’ll see a demo of the technology in action, which wraps all the aspects of shopping – from payment and data-rich shopping lists to receipt histories and loyalty – into one-stop technology.

This is just one of the dozens of game-changers you’ll meet at APEX Europe. From merchants to prepaid and emerging payments gurus, this is the only place devoted to developing relationships across the emerging payments ecosystem.

Register here to lock in savings and join 200+ retailers, payments players and technology companies changing the future of commerce.

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Save the Date – APEX: Prepaid Compliance Coming Up!

Prepaid Compliance is a combination of science and art, requiring deft flexibility to interpret (and re-interpret rules and regulations) and react to the changing landscape posed by new technologies and new regulators. At APEX: Prepaid Compliance, you'll have two days to transform the way you approach compliance.

A new, improved compliance event
APEX: Prepaid Compliance is a new event, focused on knowledge-sharing with your industry peers to build industry best practices you can apply right away:

• How have other program managers and issuers handled audits and examinations?
• How can you work effectively with new products' business teams when compliance governing emerging technologies is still unclear?
• How will issuers manage third-party relationships and ongoing evaluations? Or, how will you comply with your issuers' evolving requirements?
• Are your marketing campaigns in the UDAAP danger zone?
• How can you handle data breaches - and who should be held accountable?

Download the agenda to see how you'll answer these questions at APEX: Prepaid Compliance.

Peer-led and supported by compliance practitioners
This program was designed with input from CCOs, COOs, CROs, CMOs and Fraud Managers who have been tasked with creating robust compliance programs that can respond to the ever-changing rules and regulations. See who attends here.

Our speaker roster has the highest concentration of actual compliance practitioners of any event - critical to the building of best practices. View speaker faculty here.

 I hope you can join us in July for APEX: Prepaid Compliance.

P.S. If you register by April 11, you'll save up to $300 off the standard price! Register here.

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Live From All Payments Expo & FinTech Partnerships - Morning of Day 3

Kicking off the last day of APEX - Ready, Set, Gamification! How Games Transform Financial Services and Shopping

Panel:
Nick Maynard - D2D
Arlyn Davich - Payperks
Stessa Cohen - Gartner
Bill Dwight -Famzoo
Priya Haji - SaveUp

Key Takeaways:

Encourage kids to save - parents define income stream and generate the interest.

Games are struggling for adoption - how do we get the 'candy crush moment'?

Testing the social features...what are your friends doing? How do you compare?

Don't force sharing into online communities - people don't want to share savings goals with friends. That is way too personal. 

Don't make your customer think "it's only a game" because that will turn them away. People want to be taken seriously. 

The word gameification is going to go away - it's about innovation and this is just the word for it. It will just become the standard soon. 

Notifications teach better banking for children. Alerts develop awareness. 

Gameification - we don't actually like this term - we care about real world financial outcomes measured through demonstrated behaviors for low to moderate income families

Healthcare industry in general is way ahead - FitBit, Nike+, and Jawbone Up - special badges and achievements for users that create a sense of accomplishment. 

When will the payments industry adapt?

Thank you to the outstanding panel and thank you for everyone who followed along with the All Payments Expo. We look forward to seeing you next year!

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Live From All Payments Expo & FinTech Partnerships - Evening of Day 2

This evening at APEX we took a deeper look into - Fraud, Cyber Crime & Compliance 

Part 1:
Michelle Hemerley - FIS Enterprise Governance, Risk & Compliance (EGRC) Solutions

Compliance:

Compliance Management System:
- Board reporting and oversight
- Compliance program
   - policies and procedures
   - training
   - monitoring and corrective action
- Consumer complaint response
- Compliance audit

Be aware of any 3rd parties you have working for you. 


Part 2:
John Hagy - Metabank
Randy Gainer - Davis Wright Tremaine, LLP
Greg Quarles - H&R Block

Fraud & Cyber Crime - Emerging Payments Learning from Prepaid:

NBPCA - Educate, Advocate, Protect, and Promote

Prepaid Concerns and Common Theories: 
- Prepaid cards are unregulated
- They are anonymous
- They can be loaded with large amounts of funds
- Cards can be freely transported across boarders in large quantities as part of money laundering schemes

These are vast generalizations about prepaid cards as a whole.


Tax Fraud:

2012 - 1.2 million victims had tax refund taken
2013 - 1.6 million victims had tax refund taken

Thieves steal identity and opens GPR card, then he/she files fraudulent tax return for direct deposit, and then quickly withdraw all the funds.

Thank you to the outstanding panel and stay tuned for more live recaps from All Payments Expo & FinTech Partnerships!

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Live From All Payments Expo & FinTech Partnerships - Afternoon of Day 2

This afternoon we had a lively panel discussion - Transparency in Electronic Payroll: A Meeting of the Minds

Panelists:
Lauren Saunders - National Consumer Law Center 

Jacob DuMez - Curren C SF 

Cathy Beyda - Paul Hastings LLP 

Mark Putman - First Data Prepaid Solutions 

Anthony Peculic - ADP 

Nora Arpin - Comerica Bank 

Linda Pappillion - PacSun

Moderator:
Amy DeBerg - R&P Group

Key Take Aways:

70% of low income households receive their pay by cash or check.

70% of high income households receive their pay by direct deposits.

First Data's average balance two days after pay is $138 - up from $30 when they first hit the market.

User retention has gone way up amongst all paycard issuers.

Educate is still needed about the lack of risk associated with paycards.

Every single employee at PacSun is given paycards.

When rolling out a paycard program - communication is key. There is no such thing as over communication.

Paycards give you a look into financial eductation - see spending habits.



Thank you to the outstanding panel and stay tuned for more live recaps from All Payments Expo & FinTech Partnerships

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Live From All Payments Expo & FinTech Partnerships - Morning of Day 2

The first session of the morning was a very informational discussion -  Partner or Perish: Corporate Venturing's Role in Payments Partnerships

Moderator:
Jim Hale - FTV Capital

Panelists:
Robert Schiff - McKinsey & Company
Kevin Jacques - Intuit
Jay Reinemann - BBVA

Presentations from:
Shamir Karkal - Simple
Michael Diamond - Mitek

Discussion highlights:

2013 Corporate Venture Capital Investment in US:
- First non bubble year ever that more than 10% of the total VC deployed came from corporate VC groups
- Total CVC invested up to 39% in 2013 over 2012 (3.1B vs 2.2B)


Pitfalls to get VC partnerships started - how to go to market and convince your corporate management team:
- Executive leadership team, forward thinking and understanding the problem
- Show the cycles to your management team, walk them through the longevity
- Need curiosity
- Be careful how you set up the governance mechanism

You need to measure success both strategically and financially - where is the partnership going and are you on the right path?

Remember to track the impact that your team is having.

10 years ago advantage rested alone with the largest companies - today the situation is almost completely reversed because of small and medium businesses new adoption and solutions.

2.5 million money making households outside the banking industry - tapping this market has a high potential. The concept; build new payment rails that will force adoption.

Thank you to the outstanding panel and stay tuned for more live recaps from All Payments Expo & FinTech Partnerships.

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Live From All Payments Expo & FinTech Partnerships - Evening of Day 1

This evening at All Payments Expo there was an insightful panel - New Tender Types: The Payments Evolution

Panelists:
Ben Milne - Dwolla
John Berkley - Mercury Payment Systems 
Rob Pfeifer - Affirm, Inc

Moderator: 
Matt Harris - Bain Capital Ventures

Take Aways: 

"One of the hardest things to do in capitalism is create a new tender type" - Matt Harris

Merchants are worried about user adoption and ROI - needs a high return and low price while being hassle free.

Interchange is a big deal - there is a better way. Big business and small business both need a better way. The internet will eventually replace the card.

Emerging Tender Types Hot or Not:
Bitcoin - will have less than 1% market share in 10 years
Level Up - Focus on merchant and consumer experience merchant funded rewards drives loyalty
Chase Wallet & Merchants - If merchants adopt theoretically it will become a new tender type. 

Be sure to check back tomorrow for more updates on All Payments Expo & FinTech Partnerships! 

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Live From All Payments Expo & FinTech Partnerships - Afternoon of Day 1

This afternoon we had a thought provoking panel discussion at All Payments Expo - The Future of Interchange, and How Your Business Model Will Change

Moderator: Ron Mazursky - Mercator Advisory Group

Panelists:
Chris Larson - Ripple Labs
Barry McCarthy - First Data
Fred Brothers - FIS

Key Take Aways:

- Rewards programs won't go away - low liability or no liability (ex. Groupon) 

- Crypto-currency is just the tip of the iceberg. Transactions without a central operator, this opens up all types of new possibilities - a neutral protocol on this new payments rail.

- Lower the friction in the marketplace to make it easier to conduct business and commerce across boarders. 

- The marketplace is questioning the value of interchange, opening up windows for innovators. 

- A currency that you can't regulate is a threat to national security and national banks. They will pivot towards a secure value interchange. 

- The biggest barrier in the adoption isn't protocols it's the reputational risk 

- Merchants will adopt whatever consumers want to use. 

- Data is the new oil in the banking industry - we have hundreds of years of reserves. The nature of rewards and offers will change, using the data is a great way to monetize these transactions.  

- Alternate solutions will continue to emerge and the ground is wide open for specific use solutions (ex. PayPal)

- P2P  innovation (ex. Venmo)


Thank you to the outstanding panel and stay tuned for more live recaps from All Payments Expo & FinTech Partnerships!

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Live From All Payments Expo & FinTech Partnerships - Morning of Day 1

This morning we had a lively panel discussion at FinTech Partnerships - The Mash-Up: When Big Meets Start-Up

The panel consisted of:
Jim Hale - FTV Capital
Mike Diamond - Mitek Systems
Steve Carlson - Intuit
Robert Schiff - McKinsey & Company
Moderated by Jane J. Thompson of Jane J. Thompson Financial Services 


Discussion highlights: 
Think of it in terms of elephants and mice, the big banks and issuers are the elephants and the innovators and start ups are the mice.

For elephants, fewer and fewer people are empowered to say yes, while more and more are empowered to say no. So mice need to have a way to solve a problem for the elephants to be interested in the potential partnership - they want certainty.

Key points to remember as the innovator: 
- Keep your eye on the ball; natural alignment focused on selective objectives
- Be wary of side agreements like revenue sharing agreements and exclusivity agreements 
- Be stingy with control 
- Partners' ownership is additive
- Think long term; begin with the end in mind

What makes a partnership successful? 
- Be clear about the problem you are trying to solve 
- Internal champions are critical - career risks, putting a lot on the line
- Make sure goals and objectives are aligned early on

Currently the consumers are driving innovation - this creates new challenges for the elephant and the mouse. Further cementing the importance of aligned goals and objectives between all parties involved. 

Thank you to the outstanding panel and stay tuned for more live recaps from All Payments Expo & FinTech Partnerships!

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