The Future of Cashless Payments FROB Conference 21 March 2017 Warsaw Moderator: Peter Jones – Managing Director

Topics for the Session Objectives Background The session objectives are to explain and debate what’s happening in the cashless payments sector. What are the change drivers? Who is innovating? What are the new offers and propositions? Background The EU Payments Business is undergoing significant change. Players and stakeholders are struggling to keep up and adjust their strategies and business models. New Cards Regulations have radically changed the terms of the cards business. Non-bank competitors are eroding traditional players in a consumer landscape that is rapidly changing as new cashless payment technology implementation accelerates. This session will debate these changes from the perspectives of three well known Subject Matter Experts who will describe how they see Cashless Payments changing over the next 3-5 years.

Panellists Moderator: Peter Jones, Managing Director – PSE Consulting - UK Jeremy Light leads Accenture Payment Services in Europe, Africa and Latin America. Scott Frisby, Senior Manager, First Anapolis - UK Jeremy Nicholds is an independent advisor in the fast evolving FinTech space working as a non-executive director for Vipera Plc  

Four Key Questions To Debate Question 1:  Are consumers ready for non-banking Account Access services and will they handover their security data to new unknown players? Question 2:  If you were advising a Fintech start up what do you consider are the three most important Critical Success Factors in developing and launching a new method of cashless payment. Question 3:  Do you consider that the regulators have become too interventionalist in the EU/domestic payment business? Question 4:  What are your views on non-banks entering the payments business and are we sufficiently aware of the systemic default risks that may result?

European Cashless Payments - Discussion Authenticate 4 Settle Consumer Initiation 1 Merchant Acceptance CHANGING BEHAVIOUR Payment Intermediaries Omni-Channel Gateways GDPR Account Access/ API NEW OWNERSHIP. ENTRANTS & CONSOLIDATION Regulators INNOVATION Issuer Processors Acquirer Processors GDPR Scheme Separation Interchange Interchange Network Inter-operability Issuers Acquirers Card/ACH Schemes & Networks VALUE CHAIN MIGRATION 2 PRICE COMPRESSION Authorise 3 Clear