Washington Plaza Hotel
Washington, DC
In order to provide accurate and effective advice to your company or clients, it is essential that you have an in-depth understanding of the technologies underlying new and emerging payment systems. This interactive Boot Camp provides attendees with a firm grip on the technologies that are used in a wide range of innovative payment systems, and how the underlying technology impacts legal and compliance considerations.
Topics addressed include:
- New technologies applied to traditional payment systems
- Analyzing the technology used in each step of various emerging payment processes and systems
- Virtual/digital currencies, including bitcoin
- Blockchains – what are they and how might they transform the payments industry, beyond crypto currencies
- Near field communication (NFC)
- Internet-based payments
- Mobile apps, payment and wallets
- EMV and tokenization: Cardholder validation methods; Underlying technology; Lack of standardization
- How funds are transferred
- Understanding the new and emerging data security technologies
- The range of information captured by emerging payment systems and devices and where this information is stored
- Structuring new products and product enhancements in ways that are intuitive and easy for customers to use but that also ensure regulatory compliance and data security
- Which regulatory bodies govern this space: FinCEN; CFPB; OFAC; FDIC; CFTC; FTC; FCC; state agencies (which states are the most active?)
- Regulatory considerations: Reg E and Reg Z protections; AML compliance; fraud prevention standards; cybersecurity and data privacy issues; UDAAP disclosures; other disclosures
- Examining the regulatory gaps and clarifying areas of uncertainty in relation to new technologies
Speaker:
Allyson B. Baker, Partner, Venable LLP
Visit the 13th National Forum on Emerging Payment Systems website for more information.