Legal Seminar, Denver, CO
Innovators
• Mobile Payments. – Disconnect user from card as token; shift locus of payment data to device (phone, watch);often changing technology with tokenization – Speed and convenience are drawing points. – Cost savings? Perhaps. • Is holding a smart phone a better indicator of identity than merely holding a card? Likely. • Tokenization in the RFID technology often used with mobile devices means merchants don’t hold meaningful data. • Less card loss may mean less reissuing costs.
Innovators
• Embedded Payments. – “Contextual Commerce” as means to reduce friction by embedding payment technology into website, social media, etc. – Internet of Things provides an area for future growth in embedded payments.
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