Tag Archives: identity

US Payments – Where to Invest

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New Payment Experiences

Topics today (pardon the typos)

  • Are US payments still an attractive area for investment and growth? If so, where are the opportunities?

  • High level view of the payment landscape and areas of friction

  • Consumer Journey –  how to unlock new consumer experiences

  • Where will innovation come from? 

  • Core areas for improvement?

  • Who are the best providers? Wallets as the new metaphor

  • Challenges with Issuer-led innovation (ie PAZE)

The top questions coming out of Money 2020 were: is the US payments environment maturing? Are there still opportunities for break out growth? Where? Who is best positioned and why?  Today I will be taking part of that on. 

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Payments and Identity – UPI continues to lead the world

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Short 4 page blog

I’ve written heavily on payments, trust networks and identity. Today I’m providing an example of how UPI, powered by UIDAI’s centralized identity,  is creating a new cannon for next-generation payment networks and trust.

I believe that mobile platforms are well placed to learn their lessons in India and create a new phone based network agnostic identity platform that will drive a significant change to payments, the internet and how we manage trust with counterparties.

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Identity Driving Payments

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Great article in today’s MRC Journal Moving identity authentication earlier in customer flow/

Short Blog. Summary. US issuers are creeping into identity and eCom data as they seek to build a non-network auth. The only model which will work is where networks are the enablers of identity. From a payments perspective, there are only 2 options for owners of identity and authorization 1) V/MA or 2) Apple/Google.

I was fortunate to go to MRC-Vegas this year. Whereas M2020 is filled with Issuers/Fintechs/Investors MRC is filled with payment operators (merchants), and the companies supporting them (ie Visa/Cybersource, Stripe, Adyen, …). 

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Payment Authorization – Under The Hood

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Retailers should tread very carefully in direct issuer connections

My focus over the last 18 months has been identity, trust, authorization and assertions. Today I thought we would get under the hood a little on the technology of authorization and the current operational issues with a key network service: 3DS. 

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Identity, Authentication and Risk

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Bridging Domains – Short Blog – Random Thoughts

This is a “Random Thoughts” blog, which means there are many points that I’ve left hanging (not finished cleanly). The blog’s objective is to stimulate discussion, so please don’t hesitate to comment.  Identity is a hot topic for me with 15+ years of previous bosts. Here are a few updates … as well as my evolving perspective. 

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Trust Assertions – Identity Will Define the Future of Payment Networks

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©Thomas Noyes, May 2022

My blogs last week have me thinking about the changes going around in Identity. This will be a long blog. Typo warning.. I’m still revising. 

The number one thing I look for in payments is change: volume, technology, behavior, data, …etc. Effective networks are notoriously hard to change, but they are also very resilient (see blog). Small changes in data flows, can lead to significant changes in margin and “control”.  Margin and control guide both public and private investment (see Evolution of Visa and Mastercard Beyond Payments). 

Identity is our most important asset — it’s literally who we are. 

Our complete “identity” is known to no one, as each entity we interact with has a partial view of us based upon what we chose to give them and what they observe. How others accept and validate our identity, and how others share insight about us, is the core of payments (see Trust Networks and Authentication in Value Nets). The structure, exchange, and assertions associated with identity are defining: web3, DeFi, Crypto, CBDCs and the Metaverse. These are not separate silos, but rather overlapping ecosystems that must interact, thus the importance of bridging identity across networks/domains (see Blog – Trust is domain specific). 

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Secure Remote Commerce – May 2022

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Short Blog. I wanted to follow up on the last point I made in Bank ID Service – What Is It?

Some US Banks are refusing to jump on board SRC. As managers of risk, Banks are reluctant to accept network services which level the playing field in both managing risk and “diluting” their brand.… In some respects Authentify is a response to SRC.

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Payments and the Observer Effect

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Most of you techie’s out there had a physics class at some point and can recall the Observer Effect in Quantum Physics: the act of observation can change the measured results. Observation in payments has become the second largest driver of margin and has enabled many new specialists…. so I thought I’d outline some broad thoughts and tell a few stories. 

Why is observation important? Payment behavior is truth marked data of what a consumer actually did (offline). While I may search for Ferrari’s, or visit dealership (mobile location) what I actually bought is much more important in predicting behavior and evaluating risk.  Purchase data is the most valuable data for that reason (and issuing banks had a lock on it.. Until about 5 yrs ago). The lock has been broken and payment data has become the “missing link” to unite heterogeneous data sets. 

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