There are no keynote speakers this year out of the payments industry - however, on Friday, April 3, the day is primarily devoted to an NFC/Mobile Payments and Applications Workshop developed by the Smart Card Alliance.
The workshop will be moderated by Randy Vanderhoof, Executive Director, Smart Card Alliance, and will feature industry speakers, including: Didier Serra, INSIDE Contactless; Joe Mendoza, Gemalto; Mohammad Khan, ViVOtech; Jeff Fonseca, NXP Semiconductors; and Liam Lannon, Collis.
Fraud is a serious issue that deserves serious discussion. The Bank Fraud Forum℠ has two primary objectives: 1) to convey insights, opinions and comments on the world of financial crime, and 2) to serve as an open, albeit virtual, forum for the fraud fighting community. Our goal is to offer intelligent, timely and thought-provoking analysis of trends, news, best practices and more.
The Bank’s recent focus on online payments reflects a couple of considerations. One is that in many situations, consumers wishing to buy goods online have few payment choices other than to use a card issued by the international schemes. This lack of choice weakens competition, and is likely to become a bigger issue as online commerce continues to grow.
Another consideration is that fraud rates on online transactions appear to be steadily increasing. Almost half the fraud on credit cards occurs in situations where the merchant does not physically see the card, with the fraud rate increasing by around 50 per cent over the past year. If this trend were to continue, it could undermine consumer confidence in transacting online which would have obvious costs.