The Evolution of Payments Panel © 2014 EastPay. All Rights Reserved Commonwealth Association for Financial Professionals May 14, 20145.

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Presentation transcript:

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&T Moderator: Norman Robinson, AAP, CTP, Pres & CEO EastPay © 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 Billions US 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 Cash Prepaid Credit Card Debit 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 System Same Day ACH The Clearing House Initiative Federal Reserve’s Payments Improvement 2.Alternative Payments Apple Pay, ClearXchange, Merchant Exchange, etc. 3.Data Security Issues EMV, Tokenization, etc. 4.Questions © 2014 EastPay. All Rights Reserved

Questions? 6 © 2013 EastPay. All Rights Reserved

Contact The Panel Rubon Safaraliev Brad Smith Glen Davis Norman Robinson © 2012 EastPay. All Rights Reserved