Highlights from the September 2017 US Payments Forum Member Meeting
The following are highlights of the educational and working committee sessions at the September 2017 U.S. Payments Forum meeting. Forum meetings are members-only; in addition to hearing and participating in the sessions below, U.S. Payments Forum members get access to: exclusive market statistics from global and domestic payment networks; first-hand payments implementation experiences and best practices from merchants, card issuers, acquirers, and more; the opportunity to participate in merchant, issuer and other special interest groups to discuss common questions and issues; and many more opportunities to engage in discussion on the implementation of new payments technologies. To become a member and attend the next meeting, visit http://www.uspaymentsforum.org/membership/membership-benefits/.
Educational Session Highlights
- A first day keynote, EMVCo gave Forum members a thorough update on EMVCo standards initiatives including tokenization, 3D Secure 2.0, QR and Secure Remote Commerce
- In a session on Emerging Payment Trends: IoT, Wearables and Connected Cars, attendees learned about two upcoming white papers from the Secure Technology Alliance: “IoT and Payments” and “Wearables and Payments,” covering how payments will fit into IoT use cases including smart home, smart parking, wearables, and M2M
- Representatives from the FIDO Alliance and the W3C gave updates on standards initiatives to build secure and convenient payments (Web Payments) and strong cryptographic authentication (Web Authentication) capabilities into browsers
- A representative from the Federal Reserve Bank of Chicago provided an update on the Federal Reserve’s Faster Payments initiative
- An expert panel discussed EMV contactless implementation challenges, opportunities and potential for adoption in the U.S.
- A second panel looked at issuer considerations for the first EMV reissuance cycle
- Mobile Wallets: Landscape and Strategic Considerations for Merchants, Issuers & Providers was the topic of another panel, where panelists discussed the qualities that mobile wallets must have in order to drive adoption
Working Committee Highlights
- The ATM Working Committee made progress in drafting a new white paper, “Preventing and Troubleshooting EMV Transaction and Hardware Issues.”
- The Card Not Present Working Committee held a joint session with the Secure Technology Alliance to discuss a possible joint project around CNP fraud mitigation tools and approaches, and made progress on the white paper examining the true cost of fraud
- The Communications and Education Working Committee recently developed and hosted a joint webinar with Connexus for the petroleum industry, which was very successful with over 400 registrants. The committee also recently completed an update to the U.S. Common AID recording project. The committee has several projects in process: chip card slot messaging; an update to the standardization of terminology project; and discussed new possible projects
- The Mobile and Contactless Working Committee recently published its first deliverable, a Mobile and Contactless Payments Glossary. The committee held productive working sessions for each of four new projects
- The Petro Working Committee recently published a FAQ to provide a common, consistent understanding of EMV issues in the U.S. retail petroleum industry.
- The Transit Open Payments Working Committee has wrapped up its second project, a white paper that identifies and provides guidance for technological solutions that could be used to implement contactless open payments, particularly relating to pay-as-you-go and single-ride fares (called Use Case 1) using EMV contactless cards. Working Committee recently published “The 101 on Transit Contactless Open Payments” presentation for Forum members
The next meeting of the U.S. Payments Forum will take place December 5-6, 2017 at the Hyatt Regency New Orleans. To register, visit http://www.cvent.com/d/m5qjcv.
Not a member? Become one by visiting http://www.uspaymentsforum.org/membership/membership-application/.