Mobile Payment Takes Lesson from Credit Industry
The credit card industry in America has backed itself into a corner - the rest of the world moved to EMV while the U.S. drug its feet. The US is now the only G20 country not utilizing chip and PIN or contactless payment solution. The mobile payments industry is careening down a similar path. Each player in the mobile payment space is vying for control over the consumer and, in the end, profit. It is beneficial to have so many solutions to meet different consumer needs, but they must be backward and forward compatible with the ability to easily integrate into all available MNOs, FIs and other third party outlets. An open system where all of these payment methods can work together is essential to the mass adoption and success of mobile payments. This panel will discuss the history of payment (focusing on credit card use as it applies to mobile payment), security issues, open systems/competing solutions and hurdles facing the industry. This session is part of the Big Data Track sponsored by Gemalto.
Dr. Toni Merschen
Global Chip Card Expert, Principal at Toni Merschen Consulting
Dr. Toni Merschen is a global expert on all aspects of chip-card based business solutions particularly focusing on the financial, telecommunication, and transportation industries. He consults investment banks, retail banks, payment schemes, and technology companies on innovative payments trends and their strategies to create and deploy successful consumer solutions. He focuses on efficiently turning technology platforms, products, and services into viable business solutions and managing the creation and adoption of appropriate international standards to support emerging technologies.
Until 2009, Dr. Toni Merschen was the Group Head and Senior Vice President of MasterCard’s Global Chip Center for Excellence, headquartered in Waterloo / Belgium. He was responsible for managing all business and technology aspects, strategy, development and deployment of EMV chip-based financial and authentication solutions for MasterCard Worldwide.
Prior to joining MasterCard, Dr. Merschen was head of Citigroup’s global competence centre for chip card-enabled solutions, mobile financial services, PKI, and biometrics, located in New York.
Prior to Citibank, Dr. Merschen had numerous engineering, development, and marketing responsibilities within IBM over a 14-year period, with assignments in Germany, the U.K., and New York, including worldwide responsibility for their research and development activities and strategic alliances for smart card technology and solutions.
Through the last 15 years, Dr. Merschen was a board level contributor to several global standards enabling smart card business, e.g. EMVCo (EuroPay / MasterCard / Visa), Global Platform, Global Chipcard Alliance, JavaCard Forum, and PC/SC. He serves on the Editorial Board of the Journal of Payment Strategy & Systems.
Dr. Merschen has been speaking extensively at major conferences about EMV related topics; most recently he gave keynote speeches on Global EMV Deployment Status and the deployment options for the US at conferences organized by the US Smart Card Association.
Dr. Merschen holds a Ph.D. and a Masters degree in mathematics and physics from the Technical University of Aachen, Germany.