Electronic Transactions Association’s TRANSACT 2014 event, founded 24 years ago and dubbed “The hub of payments and technology”, opened its doors to more than 3,000 credit card companies, banks, payment processors, regulators, retailers, and press representatives. The evolution of this conference over the past decades has placed a growing focus on knowledge and sharing best practices while maintaining its sales-oriented flavor. Besides the well-known exhibition, this year’s staging of the conference included many educational sessions and activities in a brand-new format of the ETA TRANSACT. As new as it was, the format challenged both organizers and attendees to arrange their schedules and make the best choices in terms of panel participation, new business and networking, and knowledge sharing.
“The electronic transaction space is growing so quickly and in so many directions that you must stay in touch with the leaders of the industry, and come to ETA Transact to share opinions and best practices,” said Dave Birch, Global Ambassador Director at CHYP USA. With technology also exercising the biggest disruptive effect on the payments industry, one could notice many more technology investment folks, investments analysts, and sophisticated technological companies in the room, compared to last year.
Some of the main topics discussed related to mobile ecommerce, EMV, omni-channel strategies, personal data authentication, cross-border eCommerce, and international expansion. Visa’s keynote highlighted the evolution of the payments ecosystem and also how the sector is perceived in terms of the safety and security of the payments industry; consumers are increasingly concerned about personal data when shopping and the high level of consumer concern so typical of this period requires enhanced security of electronic payments, regardless of device and channel. Visa also revealed its new focus on acquirer and merchant solutions, balancing friction and fraud with better insight into global fraud pattern trends, facilitating migration to dynamic verification methods, simplifying certification, and approval and licensing of developers and solutions.
A panel of experts discussed best practices in cross-border eCommerce. Moderated by Shikko Nijland from Innopay, the panel included experts from PAY.ON, Payvision, World IT Lawyers, and ReD Worldwide, who explained the difficulties, challenges and opportunities for US merchants expanding internationally into Europe. They shared their companies’ experiences in aspects such as law and legislation, payment processing and acquiring, alternative methods, and risk and fraud. In the coming weeks the full presentation of the Cross-border eCommerce panel held during ETA Transact 2014 will be available on Payvision’s YouTube channel.
As eCommerce shifts to mobile commerce with a 56% increase (YOY Growth 2013), Ariel Bardin, VP Product Management, Payments, at Google, focused his keynote presentation on mobile payments, with three messages about the mobile revolution. First, mobile is here and now – consumers are leading this evolution and we face a shopping journey with blurring lines between online and offline. Second, Google’s infrastructure for payments and mobile innovation. And third, Google wallet and its customer experiences. Bardin also mentioned not entering the loyalty space so that it will not compete with merchants, but just enable the technology.
Interested in finding out more about ETA Transact event or other payments events? Check also the video from ETA Annual Meeting & Expo 13.