The payments industry is undergoing unprecedented growth, rapid technological advancements, and a flood of new entrants into the market.
Questions abound as to how all of the stakeholders will work together, which products will be adopted by consumers and retailers, best practices for managing privacy and data security risks, and how federal and state regulatory frameworks will be applied to emerging payment systems. While many of these new payment products have the potential to drive new revenue streams, they are also fraught with uncertainties relating to regulatory, compliance, security, and business issues.
DWT partner Andy Lorentz addressed these issues as part of a panel entitled “Understanding the IP and Technology Behind Emerging Payment Systems” at ACI’s 10th National Forum on Balancing Innovation with Consumer Protections in Emerging Payment Systems.
View his presentation here.