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Innovations, Incentives and Regulation: Forces Shaping the Payments Environment

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The Chicago Fed hosted its fifth payments conference entitled, Innovations, Incentives and Regulation: Forces Shaping the Payments Environment, May 18–19, 2005. This conference explored recent trends in the adoption of payment technologies along with the underlying market forces shaping the payments environment. The conference addressed questions such as: What emerging innovations have the greatest potential to improve the payment system? Why have certain payment innovations been successful while others have not? How does the current legal and regulatory framework affect the adoption of efficient payment mechanisms?

 

05/18/05
8:00 AM
Registration and Continental Breakfast (Third Floor Conference Center)
9:40 AM
Introduction and Welcome

Charles L. Evans,  Senior Vice President and Director of Research,  Federal Reserve Bank of Chicago

9:45 AM
Keynote Address

Jeffrey D. Jordan,  President,  PayPal, Inc.

10:15 AM
Panel I: The Evolving Payments Landscape

  • What are the challenges to developing and sustaining winning payment strategies given the current legal and regulatory framework?
  • How do differences in regulation among payment instruments promote or inhibit the migration to a more efficient payment system?
  • How does competition within payment network industries differ from other industries?

Moderator

Oliver I. Ireland,  Partner,  Morrison and Foerster, LLP

Speakers

Thomas Brown,  Vice President and Senior Counsel,  Visa USA, Inc.

Ronald J. Mann,  Professor,  University of Texas School of Law

Alan S. Frankel,  Senior Vice President,  Lexecon, Inc.

11:45 AM
Luncheon
1:30 PM
Keynote Address

 

Introduction

Richard D. Porter,  Senior Policy Advisor and Vice President,  Federal Reserve Bank of Chicago

Speaker

Eric Tai,  Chief Executive Officer,  Octopus Cards, Ltd.

2:00 PM
Panel II: Cash Substitution

  • How do you encourage the adoption of non-cash payment alternatives?
  • What are the main opportunities in adopting general purpose cash substitutes?
  • Is cost reduction, customer retention, product differentiation or some other factor the main impetus for the emergence of cash substitutes?
  • What are the most promising emerging technologies? 

Moderator

Leo Van Hove,  Associate Professor,  Free University of Brussels

Speakers

Scott Okun,  I-PASS Manager,  Illinois State Toll Highway Authority

Richard Lautch,  Vice President and Treasurer,  Starbucks Coffee Company

Barbara Straw,  Program Director Navy Cash Card,  United States Navy

Volker Koppe,  Marketing Director GeldKarte,  Euro Kartensysteme GmbH

3:30 PM
Break
4:00 PM
Panel III: Corporate Payments

  • What technological solutions do financial institutions and solution providers offer to improve your payment strategies?
  • What are the greatest challenges to implementing more efficient payment solutions?
  • How are standard-setting bodies enabling the adoption of electronic payment processes?

Moderator

Cathryn R. Gregg,  Partner,  Treasury Strategies, Inc.

Speakers

Felix Rodriguez,  Vice President and Treasurer,  Illinois Tool Works, Inc.

Andrea S. Klein,  Vice President,  Oracle Corp.

James S. Greene,  Vice President,  Cisco Systems, Inc.

George F. Thomas,  Executive Vice President,  The Clearing House Payments Company

5:45 PM
Reception (Third Floor Conference Center)
05/19/05
7:45 AM
Continental Breakfast (Third Floor Conference Center)
8:45 AM
Keynote Address

Introduction

Michael H. Moskow,  President and Chief Executive Officer,  Federal Reserve Bank of Chicago

Speaker

Mark W. Olson,  Governor,  Board of Governors of the Federal Reserve System

9:15 AM
Panel IV: Check Substitution: End-Users' Perspective

  • How do payment strategies rank in your overall corporate priorities?
  • How do you educate and motivate consumers to use your preferred payment instrument?
  • How well are providers and networks supporting your payments strategies?
  • What is the most promising emerging payment technology?

Moderator

David A. Balto,  Partner,  Robins Kaplan Miller & Ciresi, LLP

Speakers

Denis Bouchard,  Director,  Wal-Mart Stores, Inc.

Paul Tomasofsky,  Two Sparrows Consulting, LLC

James Pittman,  Senior Director,  BellSouth Corporation

Sergio Gargurevich,  Director,  PHH Mortgage Company

10:45 AM
Break
11:15 AM
Panel V: Check Substitution: Payment Processors' Perspective

  • How are you enhancing the efficiency of the check processing network?
  • What are your main challenges in increasing your payments volume?
  • How will your role change as the payment system evolves?
  • Will banks and nonbanks continue to provide differentiated payment products in the future?

Moderator

Peter Soraparu,  Executive Director,  Bank Administration Institute

Speakers

Steve Ellis,  Executive Vice President,  Wells Fargo & Co.

Jeff Vetterick,  Executive Vice President,  Endpoint Exchange

Maria Mandler,  Managing Director,  Citigroup, Inc.

R. Scott Hatfield,  President and Chief Operating Officer,  DebitMan, Inc.

12:45 PM
Closing Remarks

Sujit Chakravorti,  Senior Economist,  Federal Reserve Bank of Chicago

1:00 PM
Luncheon

 

Background Information

Event Information
Date
05/18/05 - 05/19/05
Location
Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, IL 60605-1413
Schedule
Th 8:30 a.m. - 5:15 p.m. F 7:45 a.m. - 12:30 p.m.