The Evolution of Payments Panel © 2014 EastPay. All Rights Reserved Commonwealth Association for...
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The Evolution of Payments Panel © 2014 EastPay. All Rights Reserved Commonwealth Association for Financial Professionals May 14, 20145
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Transcript of The Evolution of Payments Panel © 2014 EastPay. All Rights Reserved Commonwealth Association for...
The Evolution of Payments Panel
© 2014 EastPay. All Rights Reserved
Commonwealth Association for Financial Professionals
May 14, 20145
Panelists
• Rubon Safaraliev, Manager, Customer Payment Services, Dominion
• Brad Smith, Payments Strategy & Industry Engagement, Enterprise Payments, CapitalOne
• Glenn Davis, Technical Product Consultant, BB&TModerator:
• Norman Robinson, AAP, CTP, Pres & CEOEastPay
© 2014 EastPay. All Rights Reserved
In the US, Cash is still king when it comes to the volume of payments
Source: McKinsey 2015 Q1 US Payment Map
BillionsUS Payment Volume
Cash
Prepaid
Credit Card
Debit Card
ACH
Check
Wire
Payment transaction dollars are dominated by ACH and Check
Source: McKinsey 2015 Q1 US Payment Map
$ Billions
CashPrepaid
Credit CardDebit Card
ACH
Check
US Payment Transaction Dollars ($ Billions)
Average dollar amount per transaction by payment type (2015)
Wire
Cash Debit Card Credit Card ACH Check Prepaid Wire $19 $40 $98 $2,382 $1,557 $24 $72,928
General Topics
1. Modernization of the Payments SystemSame Day ACHThe Clearing House InitiativeFederal Reserve’s Payments Improvement
2. Alternative PaymentsApple Pay, ClearXchange, Merchant Exchange, etc.
3. Data Security IssuesEMV, Tokenization, etc.
4. Questions
© 2014 EastPay. All Rights Reserved
Questions?
6© 2013 EastPay. All Rights Reserved
Contact The Panel
• Rubon [email protected]
• Brad [email protected]
• Glen [email protected]
• Norman [email protected]
© 2012 EastPay. All Rights Reserved
