Workshop on Promoting the Use of Electronic Payments: Considering Future Requirements

October 10, 2000 to October 11, 2000
Federal Reserve Bank of Chicago
230 S. LaSalle St.
Chicago, IL 60604
October 10, 2000 | October 11, 2000

October 10, 2000
7:30 a.m.		Registration and Continental Breakfast
9:30 a.m.		Welcome and Workshop Overview Michael H. Moskow, President, Federal Reserve Bank of Chicago Henry H. Perritt, Jr., Dean, Vice President and Professor, Chicago-Kent College of Law, Illinois Institute of Technology
10:00 a.m.		International Comparisons: Lessons Learned What lessons about the business case, incentives, technology, the law, and country-specific factors should we take away from international experiences with electronic payments? What are the implications for business practices and public policy? Moderator William A. Barouski, Senior Vice President, Federal Reserve Bank of Chicago David Humphrey, Eminent Professor, Florida State University Leo Van Hove, Assistant Professor, Money and Banking Group, Free University of Brussels Marianne Palva, Head of Division, Payment Systems Division, Bank of Finland
12:00 p.m.		Luncheon Keynote Address Keynote Diogo B. Teixera, Executive Director, The Tower Group
1:30 p.m.		Online Payments: Challenges and Opportunities What do online trading communities require from payment services, and what role will services like escrow, customer service and dispute resolution play? Will fundamentally new payment products be required or will innovations leverage current payment infrastructures? Moderator Catherine Johnston, President and Chief Executive Officer, Advanced Card Technology Association of Canada Gregory K. Jones, President and Chief Executive Officer, Ubid.com Peter B. Gustafson, Executive Vice President, Visa USA David Sacks, Senior Vice President, Product Management, X.Com/PayPal
3:30 p.m.		Electronic Bill Payment: Challenges and Opportunities What is the market potential for electronic bill payment? How important will services such as online billing, aggregation, "pay anyone," customer service and service level guarantees be for reaching this potential? How do different vendors' offerings and business models compare from a consumer, biller and financial institution perspective? How will consumer protection policy need to evolve? How will vendor and biller business practices need to evolve? How will the back-end clearing and settlement systems need to evolve? Moderator Jeetu Patel, Vice President and Chief Technology Officer, Doculabs Ron Braco, Senior Vice President, Chase Manhattan Corporation Ravi Ganesan, Vice Chairman, CheckFree Corporation John P. Tedesco, Jr., Co-Founder and Chief Executive Officer, PayMyBills.Com
5:30 p.m.		Reception
October 11, 2000
7:15 a.m.		Registration and Continental Breakfast
8:00 a.m.		Opening Keynote Address Keynote Roger W. Ferguson, Jr., Vice Chair, Board of Governors of the Federal Reserve System
9:00 a.m.		Business-to-Business: Challenges and Opportunities What are the implications of online markets for business-to-business commerce, and how is technology changing the way commercial and financial firms are relating to one another (e.g., payments, procurement, credit, liquidity etc.)? What lessons have automotive industry leaders learned in terms of the business case and key requirements for online markets and online payments? What are they looking for in the future? What has been learned from past trading community implementations, and what are the implications for how technology platforms will evolve? What is needed from corporations, vendors and financial institutions in leading this migration? Moderator Emery Kobor, Research Director, CFO Magazine John Quinn, Partner, Diamond Technology Partners John Sheriden, Executive Director, Information Technology, National Center on Manufacturing Sciences Randy Joss, Director, Commerce Services, Ariba, Inc.
11:00 a.m.		Technology and Security Policy How significant is the online security challenge? Where is it most significant? How are corporations and financial institutions responding? How much can industry expect emerging and mainstream technologies to do in assuring trust? How might these technologies evolve in the future? What are the implications of the migration towards open standards for online security? Moderator Stewart A. Baker, Partner, Steptoe & Johnson Scott Charney, Partner, Financial Advisory Services, PricewaterhouseCoopers Peter Honeyman, Director and Research Scientist, University of Michigan, Center for Technology Integration Bruce Summers, Director, Federal Reserve Information Technology Services, Federal Reserve Bank of Richmond
12:30 p.m.		Lunch
1:30 p.m.		Legal Policy How have the laws relating to electronic payments evolved to where they are today? What work is currently underway in the legal community relating to consumer protection, privacy and intellectual property policy? Who is involved? Why is it important? What should private and public sector leaders be thinking about going forward? Moderator Richard Warner, Professor of Law and Director of Doing Business on the Web, Illinois Institute of Technology, Chicago-Kent College of Law David Teitelbaum, Partner, Sidley and Austin Thomas P. Brown, Heller, Ehrman White & McAuliffe
3:15 p.m.		Workshop Wrap-up David R. Allardice, Senior Vice President, Federal Reserve Bank of Chicago Jeffrey K. MacKie-Mason, Professor and Director, Program for Research on the Information Economy, University of Michigan
3:30 p.m.		Adjournment