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Payment Innovations in the Wake of the Financial Crisis

  • Overview
  • Speakers
  • Agenda
  • Accommodations
  • Conference Materials
  • Registration
Payments conference logo

Over the last few years, the economy has experienced an unprecedented level of change. Amidst this environment, the payments industry has undergone changes as well, such as new consumer protection regulations for payment cards. While it has yet to be determined which consumer payment practices will undergo the most change, it is clear that businesses have had to alter pricing, marketing, and product strategies in order to remain competitive. Further, the industry and policymakers have recognized the importance of business innovations as well as financial education to help protect against future shocks. As economists and business leaders attempt to survey the payments landscape and understand what we have learned as a result of recent events, the Chicago Fed will bring together leaders from throughout the industry to discuss the following:

 

  • What innovations have the payments industry developed in response to recent economic events?

     

  • How have consumers' payments behaviors changed, and are these changes likely to be permanent?

     

  • What is the future direction of payments policy?

 

Who Should Attend?

Decision-makers from financial institutions, payment networks, regulatory bodies, central banks, merchants and payment innovators as well as academics.

 

Registration Information

Registration for the 2010 Payments Conference is now closed. You may still enter your information on the registration page to be added to our waiting list. If you have any questions, please contact Susan Parren (information in the sidebar).

Featured Speaker

evans photo
David Evans
Founder, Market Dynamics

David Evans is an economist and business advisor. He is the author of the forthcoming book Paying with Plastic: The Digital Revolution in Buying and Borrowing. His more recent work "Innovation and Payments"(Moving Money: The Future of Consumer Payments, 2009) sets forth a framework for how the combination of data-driven marketing, cloud-based computing and mobile telephony will transform the payments industry. He also serves as a business advisor to many firms in the payments industry, including several firms that are at the frontiers of innovation. Evans has a Ph.D. and an undergraduate degree in economics from the University of Chicago.

05/20/10
8:30 AM
Continental Breakfast
9:30 AM
Introduction

Gordon Werkema, First Vice President and Chief Operating Officer, Federal Reserve Bank of Chicago


9:45 AM
Keynote Address

Why Innovation in Payments Is Accelerating and Its Implications for the Coming Decade in Payments

David Evans, Founder, Market Platform Dynamics

  • Presentation
10:15 AM
Break
10:30 AM
Consumer Choices

  • In what ways did consumer payments behavior change over the
    last few years?
  • Is financial education important, and is it effective?
  • How well are consumers and businesses being served by payment products?


Moderator

Gene Amromin, Financial Economist, Federal Reserve Bank of Chicago

  • Comments

Panelists

Victor Stango, Assistant Professor, Graduate School of Management, University of California at Davis

  • Presentation

Mark Furletti, Attorney, Consumer Financial Services Group, Ballard Spahr LLP

  • Presentation

Piyush Tantia, Senior Researcher, ideas42, Institute for Quantitative Social Science, Harvard University

  • Presentation
12:00 PM
Luncheon
1:30 PM
Innovative Business Strategies

  • What are the most promising new markets for retail payments over the next five years?
  • How have companies changed their corporate strategies in the last few years?
  • How have companies altered their product offerings to reflect changes in the economic climate?


Moderator

Ron Shevlin, Senior Analyst, Aite Group

  • Comments

Panelists

Dan Schatt, General Manager, Financial Innovations, PayPal


Gary Palmer, Chairman, Network Branded Prepaid Card Association

  • Presentation

Stephanie Swain, Senior Director of Growth Initiatives, Financial Services, Best Buy


Gray Taylor, Payments Consultant, National Association of Convenience Stores

  • Presentation
3:15 PM
Break
3:30 PM
Transformative Technology

  • What new products were developed as a result of the economic downturn?
  • How have emerging products influenced (or threatened) legacy payments vehicles?
  • Have pricing strategies influenced product mix or vice versa?


Moderator

Bryan Derman, Partner, Glenbrook Partners

  • Comments

Panelists

Jeff Semenchuk, Head of Growth Ventures, Citigroup, Inc.

  • Presentation

John Brady, Vice President, USAA


Wences Cesares, Chief Executive Officer, BlingNation

  • Presentation
5:00 PM
Reception
05/21/10
7:45 AM
Continental Breakfast
8:45 AM
Introduction

David Marshall, Senior Vice President, Federal Reserve Bank of Chicago


9:00 AM
Security and Risk

  • What are the most innovative fraud reduction strategies to emerge in the last two years?
  • What challenges do companies face in rethinking businesses strategies to reflect changes in risk profiles?
  • Are there regional or national differences in fraud experiences?


Moderator

Peter Burns, Senior Payments Advisor, Heartland Payment Systems, Inc

  • Comments

Panelists

Mike Urban, Senior Director, Fraud Solutions, FICO

  • Presentation

Ellen Richey, Chief Enterprise Risk Officer, Visa

  • Presentation

Janet Estep, President and Chief Executive Officer, NACHA

  • Presentation
10:30 AM
Break
10:45 AM
Where Are We Headed?

  • What role should the public sector play in retail payment markets?
  • What kind of legislation do you expect to see in the wake of the financial crisis?
  • How are payment providers likely to respond in terms of their fee structures and incentives to innovate in the future?


Moderator

Sujit (Bob) Chakravorti, Senior Economist, Federal Reserve Bank of Chicago



Panelists

Glenn Fodor, Vice President, Morgan Stanley


Ronald Mann, Professor, Columbia Law School


Omri Ben-Shahar, Professor, University of Chicago Law School


Richard Epstein, Professor, University of Chicago Law School


12:30 PM
Luncheon

 

 

 

Last Updated: 06/04/2010

Hotel Information

Union League Club of Chicago

65 West Jackson Blvd

Chicago,  IL  60604

To make your hotel reservations, please contact the hotel directly at (312) 427-7800. Be sure to mention that you are attending the Federal Reserve Bank of Chicago 2010 Payments Conference to receive the reduced rate of $210. The cutoff date for making room reservations is Monday, April 19, 2010. Hotel rooms and/or conference discounts may not be available after this date. For more information, please contact Susan Parren (contact information in sidebar).

  • Union League Club Website
 
Event Information
Date
05/20/10 - 05/21/10
Registration Deadline
Monday, May 17, 2010
Location

Federal Reserve Bank of Chicago
Third Floor Conference Center
230 South La Salle Street
Chicago, IL 60604

Event Contact
Susan Parren
(312) 322-4021
E-Mail

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