Mobile Payments: What You Need To Know in 2014
Overview:
Consumers today remain skeptical when it comes to mobile banking and payments. Although there are many misconceptions out there concerning mobile payments real risks do exist. ID theft, fraud and stolen accounts are among the top concerns. Companies need to formulate policies and programs to ease these fears as mobile banking could offer vast new revenue streams for financial institutions and related companies. In this live webcast, our panel of key thought leaders and practitioners will analyze mobile banking and payments from a 360 degree perspective providing firms with a best practices guide to help get your mobile banking program off to a good start.
Key topics addressed:
- Overview of the Mobile Payment System
- Knowing the Facts and Dispelling the Myths
- Data and Privacy Security
- Implementation of NFC infrastructure
- FTC’s report on Mobile Payments
- Regulatory updates
Agenda:
SEGMENT 1:
Randy Vanderhoof, Executive Director,
Smart Card Alliance
- Explain how NFC mobile payments work and show how different NFC schemes (Isis vs Google Wallet) are being implemented
- Understand the supporting NFC payments ecosystem – device hardware, TSM, mobile operator, merchants and payments processing system
- What makes NFC payments secure – secure element, GlobalPlatform standards, mobile wallet data protection and privacy best practices
- Dispel a few NFC myths – contactless payments cards are not NFC, skimming attacks can steal your payment info, what happens if someone steals my phone
- Data and Privacy Security
- Implementation of NFC infrastructure
SEGMENT 2:
Ralph Spencer Poore, CFE, CISA, CISSP, CHS-III, CTGA, Director, Emerging Standards,
PCI Security Standards Council
- Today's mobile payment environment and the associated risks and challenges when it comes to securing payment card data
- Considerations when evaluating mobile solutions for payment acceptance
- What's ahead with the new version of the PCI Standards and how those changes relate to mobile payment acceptance
SEGMENT 3:
Damier Xandrine, Senior Counsel, Banking, Operations, Commerce and Global Risk,
Wells Fargo Law Department
- Understanding the technology underlying mobile payments (e.g. QR codes, mobile apps, bill to mobile, tokenization, virtual currency), is more law and regulation needed?
- Do consumers have full protection with mobile payments or are there regulatory gaps?
- Best practices for mobile marketing and making disclosures
SEGMENT 4:
Colin C. Richard, Attorney,
Gibson, Dunn & Crutcher
- Overview of current U.S. regulation of mobile payments;
- Recent congressional and federal agency interest in mobile payments (e.g., committee hearings and Fed, FDIC, and FTC reports on mobile financial services);
- Inadvertent regulatory effects (e.g., CFPB’s remittance rule; California’s Money Transmission Act); and
- Looking ahead regarding potential changes.
Who Should Attend:
- Banks and Financial Institutions Who are offering or thinking about offering Mobile payment services - Executive Management, General Counsel, Risk & Finance - Banking and Finance Attorneys - Privacy and Data Security Lawyers and Consultants - CPAs - Corporate Security - Corporate Financial Officers - IT Security Officers - Technology Attorneys - Security Operations - Compliance, Risk and IT Officers
Randy Vanderhoof is the Executive Director of the Smart Card Alliance. The Smart Card Alliance is a not-for-profit, multi-industry association …
Mr. Poore has over 35 years of information security experience including over twenty years of applied cryptography. He has written …
Damier Xandrine is Senior Counsel with Wells Fargo & Company. Her area of practice focuses on e-commerce legal and regulatory …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
134488
NASBA Field of Study:
Speacialized Knowledge and Applications - 2.00 credit hours
Total Credits:
2.0 CLE
2.0 CPE (Not eligible for QAS (On-demand) CPE credits)
Login Instructions:
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SPEAKERS' FIRMS:
Smart Card Alliance
PCI Security Standards Council
Wells Fargo Law Department
About Smart Card Alliance
About PCI Security Standards Council
About Wells Fargo Law Department
Wells Fargo & Company is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy.
Website: https://wellsfargo.com
About Gibson, Dunn & Crutcher
Gibson, Dunn & Crutcher LLP is a full-service global law firm, with more than 1,100 lawyers and 18 offices worldwide, including Beijing, Brussels, Century City, Dallas, Denver, Dubai, Hong Kong, London, Los Angeles, Munich, New York, Orange County, Palo Alto, Paris, San Francisco, Sao Paulo, Singapore, and Washington, D.C. Consistently ranking among the world's top law firms in industry surveys and major publications, Gibson Dunn is distinctively positioned in today's global marketplace as a recognized leader in representing companies in all major industries, as well as investment and commercial banks, financial sponsors, individuals, governments and sovereign wealth funds.Website: https://www.gibsondunn.com/
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