London banking and payments conference to look at IoT

Digital disruption and digital transformation are regular topics in the financial news. Following billions of pounds of investment to meet regulatory requirements after the financial crash in 2008, the finance industry is turning its attention to customers through the use of digital innovation and this will be the focus of debate and discussion at the Internet of Banking and Payments Conference in London on November 21-23.

Attended by global banks, the challengers, retailers, smart car manufacturers and payment systems, this conference will look at how the IoT is changing the banking and payment landscape.

Expert speakers include:

• Ruth Wandhöfer, Global Head Regulatory & Market Strategy, Managing Director at
  Citi
• Juergen Von Der Lehr, Managing Director, Head of Digital Innovation and Think Tank, Deutsche Bank
• Ruth Wandhöfer, Head of Payments Innovation & Strategic Initiatives, RBS
• Natasha Kyprianides, Group Head of Digital Banking and Innovation, Hellenic Bank
• Kasper Sylvest, Head of Financial Market Infrastructures, Danske Bank
• Bas Geerdink, IT Chapter Lead, ING
• Mariusz Szmigiel, VP Group Strategy, Barclays

Ahead of the conference, FitPay, a subsidiary of mobile security company NXT-ID, said it will give consumers the option to store funds on their devices, via its general-purpose reloadable (GPR) program, The FitPay Prepaid MasterCard.

The FitPay Prepaid MasterCard option will be available to original equipment manufacturers (OEMs) of connected devices that integrate their products with the FitPay platform. The new features are aimed at providing consumers with the easiest way to access their contactless payments in a secure manner.

Consumers can use the platform to load their IoT or wearable device with a prepaid value. They can then manage their money via a digital wallet, which enables reloading of the account, as well as the setting of limits on spending. “Adding reloadable prepaid capabilities is a new feature for devices on our platform and makes our payment enablement services available on a wider range of form factors,” said Michael Orlando, president of FitPay and chief operating officer of NXT-ID.

“Prepaid accounts give consumers more flexibility in how they make contactless payments. This is particularly appealing to millennials who are more likely to use a prepaid account, more likely to own a wearable and more likely to make a contactless payment.”

The FitPay Prepaid MasterCard is sponsored by Sunrise Banks, with Cascade Financial Technology serving as the program manager. FitPay says that the device can be used everywhere that Debit MasterCard is accepted.

Solana Cozzo, North America vice president of prepaid and inclusive growth at MasterCard, suggested that “Prepaid is a natural fit for enabling payments within the IoT ecosystem.”

Cozzo added: “It meets consumers’ needs for security and control as their payment credentials are linked to a wider set of devices. The flexible nature of the prepaid platform enables many innovative use cases with both traditional and non-traditional players, and our work with FitPay is a great example.”

View the agenda

Find out more about connected payments and IoT in the banking and payments industry at the Internet of Banking and Payments Conference in London on November 21-23. Learn from real life case studies, roundtable discussions and a special banking focus day.  See if you qualify for a complimentary pass exclusive for banking and payments executives. Register now. For any enquiries, please email info@iob-media.com or call +44 (0)20 3841 8330.