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Last Updated: 11/28/2022

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

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On October 10–11, 2000 the Chicago Fed hosted its second payments conference entitled, Can Existing Networks Meet Future Needs? Conference speakers were payment industry leaders who provided an insider's perspective on the necessary success factors for electronic supply chain and epayments integration.

Tuesday, 10/10/00
7:30 AM
Registration and Continental Breakfast
9:30 AM
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 AM
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 PM
    Luncheon Keynote Address
    Diogo B. Teixera, Executive Director, The Tower Group
    1:30 PM
    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 PM
    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 PM
    Wednesday, 10/11/00
    7:15 AM
    Registration and Continental Breakfast
    8:00 AM
    Keynote Address
    Roger W. Ferguson, Jr., Vice Chair, Board of Governors of the Federal Reserve System
    9:00 AM
    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 AM
    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 PM
    1:30 PM
    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 PM
    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
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