Celebrating 5 years in Singapore !
GlobalPaymentSummit 2017 Working in a Smarter Transaction Space
Dear friends and professionals in the payment space,
Welcome to the 5th GlobalPaymentSummit in Singapore. A global conference with APAC-focus that delivers key content, best practices, deep-learning and relevant networking amongst senior peers in payments and transactions.
Our Summit strives to deliver a spectacular program in both key briefings and relevant debates in payments with ample room for individual ‘learning’ and top networking.
Our GPS 2017 theme is: “Working in a Smarter Transaction Space”. We will deep-dive into new architecture and technology essential to reinvent the payment infrastructure. We will exchange global and regional best-practices and focus on product & service innovations, barriers & opportunities in o.a. technology, consumer behaviour and regulation. Security and Fraud prevention, the power of new media, the challenging IoT-transactions and many more topics will be part of our triggering and compact program.
Have a closer look at our program details. We will continuously update the program and inform you on new items. We are offering the best “for-by professionals” platform in the Asia! Join us today and share your ideas and suggestions!
Warmest regards,
Harry Smorenberg Chairman
08.00 Welcome Breakfast & Registration
09.00 Welcome by Summit Chairman | Harry Smorenberg
09.10 Keynote Opening by Gregory Gibb | CEO | Lufax / Shanghai Lujiazui Int Financial Asset Exchange Co.
09.30 Opening Panel “The New Normal For Payments: Innovation. Disruption.”
Keynote Introduction by Eddie Haddad | Managing Director, Asia Pacific, SWIFT
Panellists: Eddie Haddad | Managing Director APAC | SWIFT Susan Hwee | Managing Director, Group Technology and Operations | UOB Namita Lal | Managing Director & Head - Mobile Money, Transaction Banking | Standard Chartered Bank Thomas Olsen | Partner, C&IB and Market Infrastructure Practice | Bain & Company Chris Humphrey | Executive Director | EU-ASEAN Business Council (moderator)
10.30 Networking Break
11.00
Real-Time Payments: coming of age in APAC
• RTP developments in APAC • Key efficiencies and impact • Blueprint implementation in
Malaysia with Payments Network (PayNet) case
Gim Soon Tay | COO | PayNet (previously MyClear) Malaysia | KL
API – Open Banking developments: The new role of banks & non-banks
• Why is this important? • The risks and opportunities for
banks and non-banks • The new banks and non-banks
ecosystem model that the Open Banking APIs enabled
• An Open API Exchange platform
Dr. Ko-Yang Wang | CEO | Fusion$360, and Chairman, Taiwan FinTech Association | Taipei
Detecting Fraud, Managing Risk and Making Real-time decisions in Payment Systems
• Why is Real-time detection of Fraud and Risk Management critical in Payment Systems?
• Execute Real-time decisioning (within 200-500 milliseconds) in payment systems
• Hybrid Memory Architecture • Aerospike’s Architecture and
specific use cases
Dr. Srini V. Srinivasan | Founder and Chief Development Officer | Aerospike | San Francisco
11.45 Lunch
13.00 Next Generation Regulatory Perspectives: global lessons learned - RegTech impact on existing business models - Self regulation vs Hard laws; Fragmentation vs Harmonization
Ruth Wandhofer | Managing Director | Global Head of Regulatory & Market Strategy | Citibank | Frankfurt
13.15 Plenary panel on Regulatory “speed of change”: regional dialogue - E-commerce as key driver in displacing cash - Challenges: Tackling the unbanked, providing ubiquitous EDCs, solutions for realtime P2P payments,
emerging technologies as alternative to cards - More efficient push transactions via ACH or digital currencies and blockchain solutions - How can Innovation be imbedded within the ecosystem (properly positioned for legislation & supervision) Ruth Wandhofer | Managing Director | Global Head of Regulatory & Market Strategy | Citibank | Frankfurt Makram Amin Bou Nassar | Exec. Director and Head of Payment Systems Dept | Central Bank of Lebanon Tan Nyat Chuan | Director of Payment Systems Policy Dept | Bank Negara Malaysia Bernard Wee | Exec Director | Financial Markets Dev. and Payments & Technology Solutions | MAS Naphongthawat Phothikit | Director of the Payment Systems Policy Department | Bank of Thailand Paul Brisk | co-Founder | Digital Payments Asia Pacific | KL (moderator)
A1 B1 C1
Day 1 - 28 August 2017
14.00 Networking Break
14.30
“From Initial Coin Offerings to the New Payment Realism?” • New age fund raising #ICO • Beyond the fanfare and FOMO • ICO bubble or here to stay
Vijay Ayyar | Head of Business Development / GM - Asia & Africa Luno
Dr. Julian Hosp | Co-Founder | TenX | Singapore
Michel Uitermarkt | Investment - Business Strategist (moderator)
E-Commerce Asia
• Redesigning the e-Commerce value chain
• Further consolidation in the online payment sector
• Next Generation e-Commerce cases
Rashid Kadir | Assistant Vice President - Client Solutions SP Ecommerce | Singapore
Future of Payments in Indonesia
• How will Indonesia open up to new payment developments
• Reaching the unbanked even those without smart phones
Achmad Nusjirwan Sugondo | EVP at Bank Tabungan Pensiunan Nasional | Jakarta
Isaku Endo | Senior Financial Sector Specialist - Payment Systems and Remittances | World Bank | Jakarta
Budi Gandasoebrata | COO -Midtrans & Vice Chair - Fintech Indonesia | Jakarta (moderator)
15.15 Networking Break
15.45
‘Going Cashless’ as catalyst for APAC Mobile Payments Market • Briefing on key developments
in Asia Pacific • Australia / Singapore /
Malaysia cases • Solutions: fighting barriers –
using opportunities
Quah Mei Lee | Industry Principal Analyst | Frost & Sullivan
Christopher Tiffin | Head of Regional DFS | Axiata Digital Services
Chua Thian Yee | Mentor for NTUitive | Singapore
China: A day in the life - How Digital Finance the way that 1.4 billion people pay, shop, and save
• How China went from Digital Payment Products to Digital Finance Platforms (combining Alibaba/ANT Financial )
• Regional expansion in Asia (ASEAN and India)
• Future Impact on APAC Financial Services positioning
Zennon Kapron | Managing Director | Kapronasia
16.30
Remittances - driving innovation in payments for Asia - How to better serve low wage migrants - Challenging legacy models & improving efficiency - Can blockchain deliver unprecedented speed at low cost?
Faisal Khan | Co-Host of Around the Coin Podcast Isaku Endo | Senior Financial Sector Specialist - Payment Systems and Remittances | World Bank | Jakarta Pratik Gandhi Chief Business Officer | Instarem | Singapore
17.15 GPS - Florin Awards Asia Presentation
17.45 Cocktail Reception
18.30 End of Program
Day 1 - 28 August 2017
A3 B3
A2 B2 C2
08.30 Welcome Coffee
09.15 Recap & Opening by Harry Smorenberg
09.20 SEA a cashless region: a transformation for the next 20 months or 20 years? Jason Thompson | Head of GrabPay | Singapore
09.45 Lessons from Social Payments in China: How digital platforms are driving financial inclusion, economic empowerment in China and lessons for other markets
- The macro-economic situation in China - Development of Digital Payments - Transition to Digital Finance - Driving economic development through digital - The Future of Digital Finance in China
Zennon Kapron | Managing Director | Kapronasia
10.00 Financial Inclusion in Asia – Is Digital the Direction? (key regional representatives)
- Financial inclusion challenges in Asia today - The China model – would it work? - Models of digital inclusion - Areas of regional growth - The future of financial inclusion in Asia
Panellists: Lotte Schou Zibell | Technical Advisor | ADB | Manila Matteo Chiampo | Consultant | CGAP World Bank Zennon Kapron | Managing Director | Kapronasia (moderator)
10.45 Networking Break
11.15
The Payment Card Reform Framework - Key initiative by Bank Negara Malaysia
• Speed of change and impact on Malaysia’s payment landscape
• Lowering fees to acquirers • Growth in adoption of contactless and card
terminals • In the pipeline
Tan Nyat Chuan, Director of Payment Systems Policy Dept | Bank Negara Malaysia
e-KYC - Simplifying the identity challenge
• Identity as the ultimate ‘transaction’ • Global path to the ultimate unified solution? • Case Highlight: India’s Aadhaar Roll out
GPJ Gupta | Head Business Solutions & Debit, Prepaid Cards | Kotak Mahindra Bank | Mumbai
Pavel Bains | CEO | Bluzelle | Singapore
Rob Leslie | CEO | Sedicii | Waterford Ireland
Tom Wills | Director | Ontrack Advisory | Singapore (moderator)
A4 B4
Day 2 - 29 August 2017
12.00 Lunch
13.15 Blockchain: the ultimate “cure” or a vague promise in Payments? Analyses and key cases for success
Moderator: David Lee Kuo Chuen | Professor of Fintech and Blockchain at the Singapore University of Social Science
Panellists Boon-Hiong Chan | Director Head of Market Advocacy APAC | Global Transaction Banking | Deutsche Bank | Singapore Nick Armstrong | CEO | identitii | Sydney
13.45 The position of banks in the transaction space - Payments as a commodity? No way! Introduction to debate by Tyrone Canaday | Managing Director | Protiviti | New York City
14.00 Practitioners Debate with banks / near-banks / non-banks
Dr. Srini V. Srinivasan | Founder and Chief Development Officer | Aerospike | San Francisco Sam Tanskul | Managing Director , Krungsri Finnovate Co., Ltd. | Bangkok Tyrone Canaday | Managing Director | Protiviti | New York City (moderator)
Compelling Fintech Showcase - Best Cases in Payments & Transactions
14.45MyCashMY e-Marketplace for migrants
Mehedi Hasan | CEO & Founder | Kuala Lumpur
Xendit Fast automatic payment solution API
Ikhsan Rahardian | Head of Product | Jakarta
15.15CardUp Big payments, made rewarding
Nicki Ramsay | CEO | Singapore
Juntos Global Dramatically increase account usage
Neha Bhatia Ramdas | Global Director of Sales | San Francisco
15.45TenX The future of real estate online
Dr. Julian Hosp | Co-Founder | Singapore
Fusion$ CityCoin Blockchain based payments for city governments
Dr. Ko-Yang Wang | CEO | Taipei
16.15 Reception - Drinks & Snacks
17.30 End of Program
Day 2 - 29 August 2017
By Pre-Registration Only
GPS will have in parallel with the program two break-out Round Table session. These sessions will be dedicated topic by invitation with limited number of participants. These round tables will be held from 15.00 – 17.00 hrs.
Watch this space for further announcements. Or get in touch with us via [email protected]
ROUND TABLE
Transactives 'GlobalPaymentSummit’ will be honouring great initiatives and proven solutions in payments with the 2017 Florin Asia Innovation Awards. We are seeking parties who are using innovation to drive their Payment Solutions forward through collaboration, accessibility, personalization, (security)design, communication or any way that may help drive successful outcomes for the end user (customers). The winner will be announced and recognized at the GlobalPaymentSummit to be held on 28-29 August 2017 in Singapore.
We decide to organize the Florin Awards this year to really promote diversity and innovation in the transaction space! The honor roll does not belong to the financially well vested ones, but also those with promising new ideas! Cast your vote quickly and 3 lucky winners will stand to win a delegate pass to the GLOBAL Payment Summit in 4 weeks time!
VOTE FOR WINNERS!
Harry Smorenberg
CEO of Smorenberg Corporate Consultancy
Keynote 09:15 09:20
Dear Delegate,
As Chairman I'd like to invite you to participate and enjoy our 5th edition of the GlobalPaymentSummit 2017. Apart from the summary of our program, we offer you a detailed program insight. Many key topics will be discussed in great detail in our ‘tracks of choice’, where plenary keynote introductions will deepen your expertise on new strategic directions in the transaction space.
We are very happy to welcome great speakers and thought-leaders from around the world. A great meeting place for senior professionals and practitioners involved in (aspects of) payments, e-commerce, regulatory, security, legal, ICT and marketing.
Please join our 5th edition and experience top quality program, essential networking and steep learning!
Harry Smorenberg Chairman
Introducing the EPS 2017 Program
Keynote
Gregory D. Gibb
CEO of Shanghai Lujiazui International Financial Asset Exchange Co., Ltd. | Lufax
Keynote 09:15 09:20
China’s Lufax to launch first overseas platform in Singapore (Reuters)
Singapore’s prominent role in Belt and Road Initiative and straightforward regulation cited as reasons Lufax chose it over Hong Kong.
China’s second-largest peer-to-peer lending platform, founded by the Ping An Group, has been granted a license to operate in Singapore, giving the city a leg up in its competition against Hong Kong in attracting investments to nurture financial technology and innovation. AT GPS Greg will discuss key trends in the digital transformation, the key developments in peer2peer lending and the transformation in the transaction space.
Gregory D. Gibb, Is the CEO of Shanghai Lujiazui International Financial Asset Exchange Co., Ltd. (Lufax) since Dec. 2011. Previously, Mr. Gibb is a director with McKinsey in Greater China and the COO of Taishin Financial Holding in Taiwan, with over 25-year experience in cross-border and domestic financial services operation. He graduated from the Middlebury College with a B.A in East Asian Studies. Mr. Gibb was introduced to the “National 1000-Foreign-Expert Plan” of the Organization Department of the CPC Central Committee in 2012, awarded the “Shanghai Top 10 Financial Innovation Figures of 2012”, and honored the “China Top 10 Leaders of Internet Finance of 2013”, etc. for his unique and widely-recognized insight about innovative financial services. Mr. Gibb is author of the Banking in Asia - The End of Entitlement (Wiley, 1999) and the Banking in Asia - Acquiring a Profit Mindset (Wiley, 2003). Both books introduced bankers’ development opportunities and trump cards in Asia.
Gregory Gibb | CEO | Lufax
Keynote
Keynote 09:15 09:20
Join this opening keynote with SWIFT, UOB, StanChart, and Bain
Traditional payments ecosystems are being disrupted by various factors, including evolving customer expectations, adoption of emerging technologies and vibrant fintech ecosystems. This raises the question of what are the underlying “real” problem areas in payments that these disruptive forces are trying to address? Is it speed, predictability, transparency, traceability or something else? This keynote panel brings together SWIFT, global & regional banks and industry experts to review the new normal for payments today – maintaining the delicate balance between managing disruption and nurturing innovation.
A New Normal For Payments: Innovation. Disruption.
Keynote
Eddie Haddad
Managing Director Asia Pacific | SWIFT
Thomas Olsen
Partner, C&IB and Market Infrastructure Practice | Bain & Company
Susan Hwee
Managing Director, Group Technology and Operations | UOB
Namita Lal
Managing Director, Head of Mobile Money for Standard Chartered Bank
Chris Humphrey
Executive Director, EU-ASEAN Business Council
Ruth Wandhöfer
Global Head of Regulatory & Market Strategy, Citi Transaction Services
Keynote 09:15 09:20
Primary driver in Asia is e-commerce and in payment terms the objective of displacing cash and cheques with digital payments. Various regulatory initiatives have been developed in order to achieve this: e.g. driving up the cost of cheque processing, looking at ways of making cash more expensive, driving down interchange rates to make the acceptance of debit cards easier for all merchants, forcing acquirers to deploy more POS, promoting domestic debit card systems in competition with the international schemes to further drive down the cost of debit card acceptance (again in an attempt to make acceptance ubiquitous), increasing contactless acceptance (because markets such as Australia have demonstrated that contactless increases debit card usage due to cardholder convenience factor). BNM's Payment Card Reform Framework is a good example of this. Challenges in displacing cash include:
• Strategies for tackling the unbanked; • Strategies for ensuring ubiquitous terminalisation; • Putting in place solutions for realtime P2P payments • Emerging technologies and alternatives to card payments for B2C-
Whilst some regulators are still thinking in terms of the ‘old world’ 4-party model payment and card infrastructures, the new world is moving into more efficient push transactions via ACH or even leveraging digital currencies and blockchain type solutions. In Europe we have seen payment legislation pushing for use of efficient ACH push and pull transactions via SEPA to facilitate e-commerce. The arrival of third party providers that provide the payment link between consumer, bank and e-merchant have gained ground. In addition, with the move to real time ACH in Europe (SEPA Instant payments) we are likely to see more efficient direct e-commerce payment capability outside of the traditional card networks. (continue next page…)
Regulatory Panel “Speed of Change”
Keynote
Makram Amin Bou Nassar
Executive Director and Head of Payment Systems Department | Central Bank of Lebanon
Paul Brisk
Co-founder of Digital Payments Asia-Pacific
Bernard Wee
Executive Director, Financial Markets Development Department | Monetary Authority of Singapore
Tan Nyat Chuan
Director of Payment Systems Policy Dept | Bank Negara Malaysia
Naphongthawat Phothikit
Director | Payment Systems Policy Department | Bank of Thailand
Keynote 09:15 09:20
(continued from prev page)
At a global level the emergence of Bitcoin and blockchain is adding a further layer of innovation, which may result in a complete re-wiring of transaction infrastructure over the long run. Central banks, banks, governments and businesses are looking at possibilities of leveraging blockchain and distributed ledger technologies in order to enable efficient, real time solutions that remove back-office complexity and speed up settlement. The roll out of those solutions will significantly depend on the approach of regulators and the global consistency of regulatory measures in this space. In order to allow regulators, supervisors, banks and FinTechs to understand how innovation can be embedded within the ecosystem, so-called regulatory sandboxes have developed around the world, enabling experimentation and learning. This objective is to avoid developing regulation that stifles innovation whilst at the same time ensuring that new risks are understood and properly tackled by legislation and supervision.
Regulatory Panel “Speed of Change”
Keynote
Ruth Wandhöfer
Global Head of Regulatory & Market Strategy, Citi Transaction Services
Makram Amin Bou Nassar
Executive Director and Head of Payment Systems Department | Central Bank of Lebanon
Paul Brisk
Co-founder of Digital Payments Asia-Pacific
Bernard Wee
Executive Director, Financial Markets Development Department | Monetary Authority of Singapore
Tan Nyat Chuan
Director of Payment Systems Policy Dept | Bank Negara Malaysia
Naphongthawat Phothikit
Director | Payment Systems Policy Department | Bank of Thailand
Keynote 09:15 09:20
Real-Time Payments: coming of age in APAC
A1
Tay Gim Soon
COO | PayNet (previously MyClear) | KL
Meeting growing customer demands for immediacy in an increasingly online, inter-connected world, Payments Network Malaysia (PayNet) is well on its way to implement real-time payments nation-wide. At GPS, we will obtain insights into the real-time payments implementation in Malaysia. Our track-session will be an essential briefing session and update with ample time for discussions and Q&A. We are very happy to have Mr Tay Gim Soon, COO of PayNet present this special session. Real-Time Payments enables corporates better access to liquidity, faster transitions between payment authorization and service provision, and cash flows are more transparent. For consumers, real-time payments will allow access to funds within seconds and the convenience of making payments on 24x7 basis. Both B2B and B2C will benefit and improve the customer experience.
Keynote 09:15 09:20
The amount of money raised by Initial Coin Offerings, or ‘ICOs’, is booming. Bitcoin and other digital currencies continue to set record price levels. As these blockchain built initiatives continue to gain traction and increase in their functionality, it sure seems like we are moving from hype to highway. But where does this road lead us? And what does this new landscape look like? In this session experts at the forefront of this new infrastructure discuss current developments and the profound possibilities this emerging ecosystem can bring to society and business alike.
From Initial Coin Offerings to the New Payment Realism?
A2
Michel Uitermarkt
Investment - Business Strategist
Vijay Ayyar
Head of Business Development / GM - Asia & Africa Luno
Dr Julian Hosp
Co-founder TenX Singapore
Quah Mei Lee,
Industry Principle Frost & Sullivan Kuala Lumpur
Keynote 09:15 09:20
Throughout Asia Pacific where smartphone penetration is the highest in the world, consistent progress by local governments toward cashless societies is benefiting the mobile payments market. Going cashless is seen as a catalyst for the mobile payments market both in markets where use of cards is transitioning gradually into use mobile payments and in markets where consumers are leapfrogging to mobile payments from cash. Getting to 100% cashless will see mobile payments realize its potential as a key enabler of Cashless Societies.
Regulatory push, standardization, the availability of a ubiquitous payments infrastructure and comprehensive solutions as well as local consumer behaviour play a role in determining how fast the transition to 100% cashless is going to be. The top down regulatory push towards cashless societies across Asia Pacific will see the $71.92 billion mobile payments market (excluding China and India) grow exponentially to reach $271.47 billion by 2021. The number of active customers too will double to 130.8 million users.
Although benefiting from regulatory push factor, the initial slow take up is mainly due to the drawbacks of today’s mobile phone as a form factor. This includes lack of user interface and payment flow standardization, the need for additional security features such as tokenization and biometrics authentication, effective resolution of data privacy issues and above all and the fact that it doesn’t replicate the physical wallet. The presence of local proprietary e-wallets built to differing security standards alongside global and open 3rd party e-wallets further add confusion to the market.
Despite current challenges, the market is progressing. Standardization efforts are already underway in some countries and contactless payments facility is growing. However, contactless payments facility is still far from ubiquitous i.e. it has to be available on trolleys, at toilets, for donations to churches, at tourist foreign exchanges and virtually everywhere else. There is also a lack of comprehensive solutions to cater for segments holding on to the use of cash e.g. the poor, the old, people with disabilities, people living in rural areas and short term visitors/tourists, that will complete a transaction that involves payment method, loyalty/rewards, receipts and in some instances identification.
It is clear that there is still a lot of work ahead, especially in replicating physical wallets and offering a truly seamless user experience. Ultimately, the focus now should shift to mobile payments in order to build a 100% cashless future across Asia Pacific.
‘Going Cashless’ as catalyst for APAC Mobile Payments Market
A3
Chris Tiffin
Head Regional DFS - Axiata Digital Services | Kuala Lumpur
Keynote 09:15 09:20
Join Quah Mei Lee to gain her insights on the latest developments alongside key issues plaguing Asia Pacific. Together with an expert panel, she will then debate these issues & questions.
1. What would be the ideal mobile payment solution? • Current focus has been to leave it to market forces to
determine which solutions will prevail • Is the confusion created by multiple solutions in the market
holding back the demand for mobile payments? • Why aren’t solutions providers offering seamless
comprehensive solutions? • Will transforming the mobile phone into a physical wallet
increase take up of mobile payments?
2. What direction should standardization of mobile payments take? • Current focus is on payment flow and acceptance of all
payment methods at merchant site • Should it include guidelines on minimum security and
handling of data privacy issues? • Should it mandate seamless comprehensive solutions that
will replace the physical wallet while leaving room for competition in innovation within this broad scope?
3. What would be the final combination of efforts from industry (regulator, solution providers, merchants) that will make mobile payments go mainstream in Asia Pacific?
• Current focus by governments has been on pushing options that increase cashless transactions. In addition to this,
• Australia is looking into removal of higher value currency notes i.e. $50 and $100, but while this will help push mobile payments that is capped below $100, there are indications from India that people may revert back to use of cash and behavior switches are temporal.
• Singapore is funding cashless payment acceptance at small merchants (hawker centres). While this will take time to complete, take up is still slow elsewhere despite wide acceptance via NETS
• Malaysian tolls are going 100% cashless through use of a single payment method.
• What steps are necessary to increase take up and encourage use of mobile payment facilities?
• Should the regulator mandate use of mobile payments? • Should the regulator mandate or encourage via incentives
true ubiquitous acceptance in order to get to 100% cashless?
‘Going Cashless’ as catalyst for APAC Mobile Payments Market
A3
Quah Mei Lee,
Industry Principle Frost & Sullivan Kuala Lumpur
Chris Tiffin
Head Regional DFS - Axiata Digital Services | Kuala Lumpur
Dr. Ko-Yang Wang
CEO | Fusion$360, and Chairman, Taiwan FinTech Association | Taipei
Keynote 09:15 09:20
Open banking is the FI world embracing APIs. Like Apple leading the way in opening up AppStore to millions of developers encouraging usage, incumbent banks now fight for a place in opening their APIs, allowing 3rd party developers to build services on their ecosystem. Banks now are hot in the pursuit of collaborating with promising Fintech firms who can build faster, sexier, snazzier platforms. How will the new open banking APIs enable and change the new banks and non-banks ecosystem? What risks should be mitigated? Ko-Yang shares his experience as CEO of Fusion$360, blockchain payment system, and also the latest updates from Taiwan fintech scene. Don't miss this track at GPS.
API & Open Banking developments The new role of banks and non-banks
B1
Zennon Kapron
Managing Director, Kapronasia | Shanghai
Keynote 09:15 09:20
CHINA & DIGITAL FINANCE – HOW 1.4 BILLION PEOPLE PAY, SHOP, AND SAVE
China is, by any measure, the largest fintech market in the world. Digital payments are a reality and China’s key providers have created platforms of products and services based around these services for anything from booking a taxi to buying a wealth management product. This is completely changing how China’s consumers carry out their daily lives and has significant ramifications for the financial industry.
During this informative 45min engaging panel, Zennon Kapron from Kapronasia, will moderate a panel of China experts who will walk the audience through some of the more innovative products and services and discuss their impact on the financial industry in addition to how these platforms are gradually being taken international.
Here’re some of the payment options and gateways in China. At GPS, we discuss their impact and how they are moving out of China and into the region and other continents!
China: A day in the life - How Digital Finance the way that 1.4 billion people pay, shop, and save
B3
Keynote 09:15 09:20
Digital Payments Fraud - Transactional Analytics Matter!
Global payments are expected to exceed $2.3 trillion by 2019, and each year, with non-cash payments accounting for an increasing share of this massive market. And with the uptake on mobile payments and CNP transactions, fraudsters now target these channels via identity hijacking, attacking leaky access points.
Dr Srini, founder and CDO at Aerospike (San Francisco) shares at this indepth track on fraud prevention on:
- Why is Real-time detection of Fraud and Risk Management critical in Payment Systems?
- How to execute Real-time decisioning (within 200-500 milliseconds) in payment systems
- Hybrid Memory Architecture and specific use cases
Here’s an excellent paper on this topic you can download: Digital Payments Fraud White Paper by Aerospike.
http://globalpaymentsummit.com/milliseconds-real-time-decisions-disrupting-fraud-management/
Detecting Fraud, Managing Risk and Making Real-time decisions in Payment Systems
C1
Dr. Srini V. Srinivasan
Founder and Chief Development Officer | Aerospike | SanFrancisco
Keynote 09:15 09:20
We are very happy to announce a full track session on key Payment developments in Indonesia by Budi Gandasoebrata. Budi is a Payment ‘thought leader’ and Vice-Chairman - Payment Systems of Indonesia Fintech Association. As a seasoned payments expert he is also COO of Midtrans in Jakarta.
As one of the largest market in Asia, Indonesia continues to attract a lot of foreign investment and new entrants. But it is brimming with innovative new local initiatives and players too. Budi looks to discuss:
Next step regulatory drivers for Fintech and (international) payment services providers Top domestic Innovation cases: Go-Jek - the Indonesia success and example for APAC New mobile 'experience banking' platforms The need for domestic alignments Speeding up the reach to the unbanked: Payments as catalyst
On Indonesia’s Payment Innovations
C2
Budi Gandasoebrata
COO -Midtrans & Vice Chairman - Payment Systems Fintech Indonesia | Jakarta
Achmad Nusjirwan Sugondo
EVP at Bank Tabungan Pensiunan Nasional | Jakarta
Isaku Endo
Senior Financial Sector Specialist in Finance and Markets Global Practice World Bank
Keynote 09:15 09:20
Keynote by Jason Thomas | Head of GrabPay
Check out one of the pictures from report: Alipay being used at a wet market shop in China. Now customers can pay electronically buying eggs!
Keynote 09:15 09:20
Alipay and WeChat Pay are likely best known for their impact on digital payments, e-commerce and increasingly retail payments, but they are playing a critical role in transforming China’s hinterland and driving economic development and empowerment. During this engaging session, Zennon Kapron, one of the authors of the “Social Networks, e-Commerce Platforms, and the Growth of Digital Payment Ecosystems in China” paper, published by Better Than Cash Alliance, part of the United Nations Capital Development Fund, will discuss the key findings of the report and look at the key lessons for Asia’s other markets. Key Points to be covered: · The macro-economic situation in China · Development of Digital Payments · Transition to Digital Finance · Driving economic development through digital · The Future of Digital Finance in China
Lessons from Social Payments in China: How digital platforms are driving financial inclusions and economic empowerment in China, and lessons for other markets
Keynote
Check out one of the pictures from report: Alipay being used at a wet market shop in China. Now customers can pay electronically buying eggs!
Zennon Kapron
Managing Director, Kapronasia | Shanghai
Keynote 09:15 09:20
Although over 70% of China’s population is banked, the country still has work to do to push financial inclusion and economic empowerment. Some of the key players in China’s journey towards financial inclusion have been China’s third party payment players including Ant Financial and Tencent. Through digital platforms, these players have given millions of Chinese individuals and SMEs access to financial products and services they might not otherwise have. This has brought many companies and individuals into the economic fold. But is China just a special case or could the lessons from China be applied across the rest of Asia? Where are the opportunities for financial inclusion in Asia? During this informative panel, experts from across the financial industry will discuss these questions and more as they explore the implications of digital finance for financial inclusion and economic empowerment Key Points to be covered: • Financial inclusion challenges in Asia today • The China model – would it work? • Models of digital inclusion • Areas of regional growth • The future of financial inclusion in Asia
KeynoteFinancial Inclusion in Asia – Is Digital the Direction?
Zennon Kapron
Managing Director, Kapronasia | Shanghai
Lotte Schou Zibell
Technical Advisor ADB | Manila
Matteo Chiampo
Consultant CGAP, World Bank
Keynote 09:15 09:20
To foster an efficient, transparent and competitive payment card industry in Malaysia, Bank Negara Malaysia (BNM) had issued the Payment Card Reform Framework (PCRF) which came into effect on 1 July 2015. Besides tackling market distortions that have curtailed the orderly development of the payment card market, the PCRF also introduces a market incentive mechanism to spur greater expansion in the number of point-of-sale terminals and promote the debit card as a cost-effective payment instrument to displace cash.Pursuant to the PCRF, merchants in Malaysia have enjoyed an estimated costs savings of about RM168 mil in 2016 due to the lower merchant fees. In addition, consumers have benefited from the expansion of in the POS terminal network which had increased significantly to 18.3% per annum in 2015 to 2016 compared to 4.0% per annum in 2011 to 2014. At the GlobalPaymentSummit, Mr Tan Nyat Chuan, Director of Payment Systems Policy Department of BNM will elaborate more on the payment card reforms in Malaysia and how BNM has brought about these changes in the country, as well as what lies ahead.
The Payment Card Reform Framework - Key initiative by Bank Negara Malaysia
A4
Tan Nyat Chuan
Director of Payment Systems Policy Dept | Bank Negara Malaysia
Keynote 09:15 09:20
We prepared one of the best briefings on ‘identity’. Next to a wealth of expertise, we will share key lessons learned from Europe and from India! We will deep-dive into Aadhaar as key expert GTP Gupta from Kotak Mahindra Bank will discuss the implementation
Aadhaar is a 12 digit unique-identity number issued to all Indian residents based on their biometric and demographic data. The data is collected by the Unique Identification Authority of India (UIDAI), a statutory authority established by the Government of India.
This global expert panel including CEOs and director of Bluzelle, Sedicii, Ontrack Advisory will discuss
• eKYC - Identity as ultimate ‘transaction' • Ultimate unified solution globally? • Aadhaar in India; MyInfo in SG, and others
B4
Pavel Bains
CEO of Bluzelle
Rob Leslie
CEO of Kyckr and Sedicii
GPJ Gupta
SVP, Head - Business Solution Group, Debit and Prepaid Cards, Kotak Mahindra Bank
Tom Wills
Director at Ontrack Advisory
e-KYC - Simplifying the identity challenge
Boon-Hiong Chan
Director |Head of Market Advocacy, APAC Global Transaction Banking Deutsche Bank AG Singapore
Keynote 09:15 09:20
At GPS2017 we will debate realistic scenarios for blockchain implementation in the payment/transaction space. David Lee, professor of Fintech and Blockchain at SUSS will moderate a plenary panel session with key experts who work have hands-on blockchain developments. Expect a fierce debate and discussion on:
• Blockchain is presented as a “cure for anything” - is it a religion?
• Are there realistic and pragmatic first move cases on how blockchain technology can reshape transaction space?
Read HBR "The Truth About Blockchain” https://hbr.org/2017/01/the-truth-about-blockchain
Blockchain: the ultimate “cure” or a vague promise in Payments?
Keynote
Antonio DeLorenzo
Vice President of Partnerships for identitii
David Lee Kuo Chuen
Professor of Fintech and Blockchain at the Singapore University of Social Science
Keynote 09:15 09:20
"From Boardroom to Execution: Capitalizing, optimizing and translating value of investments made in innovation”
Now more than ever before, the correct investments made in technology and innovation have serious and material implications to the long-term success of a business. Missing opportunities to capitalize on new technology to enhance capabilities, product and services could result in lost market share, reduced ability to participate in upside gains of new business models, and in worst case extinction altogether.
In the case for banks, who are on the front lines of digital disruption, the move towards a distributed economy has introduced innovative 3rd parties and Fintech that are providing superior experiences, products and services for customers. The transaction space which has traditionally been a staple revenue stream is now being threatened by players in the P2P and distributed ecosystem where efficiencies have the potential to reduce payments to a commodity. Institutions who are able to reimagine their business models, maximize investments in technology, and evolve their business effectively to harness the current innovation cycle will determine the next generation's winners and losers.
Topics Outline:
• Customer adoption trends of digital payments and viewpoints on movement towards a cashless society
• What critical investments need to be made to remain competitive in the transaction space (Technology, Processes, People, & Partnerships)
• How to effectively drive and translate the expected value (top and bottom line) of innovation projects - who is doing this well
• Vision of the future and how the Payments space will evolve (e.g., banks, near banks, and non banks)
The position of banks in the transaction space - Payments as a commodity? No way!
Keynote
Sam Tanskul
Managing Director , Krungsri Finnovate Co., Ltd.
Dr. Srini V. Srinivasan
Founder and Chief Development Officer | Aerospike | SanFrancisco
Tyrone Canaday
Managing Director Protiviti
Ikhsan Rahardian
Head of Product | Xendit | Jakarta
Keynote 09:15 09:20
At GPS 2017, we are excited to showcase some of the best fintech in payment solutions! We will select the best from around the region and feature 6 of them. Don't miss this - check out our first 3 selections from Indonesia, Malaysia and Singapore!
The most compelling cases in payments and transactions
Fintech Selections
Fast, Automatic Payment Solution Xendit provides seamless payment API to collect and disburse payments. Their technology enable modern businesses of all sizes and types to handle transactions in real-time and at scale. Xendit is the first Indonesian company from Y Combinator (USA), winner of Andreessen-Horowitz Hackathon, and Forbes Asia 30 under 30.
Nicki Ramsay
CEO | CardUp | Singapore
Big payments, made rewarding CardUp enables you to make single or recurring payments online using one or more of your favourite credit cards, in places where you couldn't previously use your card. These include property related payments such as rent and property deposits, MCST payments, insurance premium payments and school/education fees, among others.
Mehedi Hasan
CEO & Founder | MyCash Online | Kuala Lumpur
e-Marketplace for Migrants MyCash Online is an e-Marketplace specially designed for massive pools of Migrants in Malaysia & Singapore. MyCash Online is offering easy, secure and convenient online services to the foreign workers, who do not have access to online banking or credit cards. With years of experience of working for migrants, we take pride in providing quality & convenient online services 24X7.
Neha Bhatia Ramdas
Global Director of Sales at Juntos
The most compelling cases in payments and transactions
Fintech Selections
Dramatically Increase Account Usage Juntos is a Fintech start up that works in the payments space. In markets around the globe, hundreds of millions of new customers are opening digital financial accounts for the very first time. Typically, however, 60-90% of these accounts fall inactive within the first months of use. Juntos’ automated conversation platforms are used by leading banks and mobile money operators to demonstrably increase account activity & revenue, by engaging clients in warm, automated, two-way messaging conversations that drive clients’ understanding, confidence and usage of their newly-opened accounts.
Dr Julian Hosp
Co-founder TenX Singapore
Making cryptocurrencies spendable anytime anywhere. TenX is solving a real world problem by making cryptocurrencies spendable anytime anywhere. What TenX is doing is truly groundbreaking and revolutionary. That is also why they received 80 million Usd in funding. https://www.tenx.tech/
Ko-Yang Wang
Founder/Chairman of Fusions360.com
The Fusion$ CityCoin is a Blockchain-based payment system with Smart Contracts. It is designed to help a city government to streamline its operations, improve its efficiency and the citizen’s experiences when they interact financially with the city government.