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The 2014 conference, chaired by BBC Technology Correspondent, Rory Cellan-Jones, featured high-profile speakers and panellists from across the payments industry – from government, to business and end-user groups. It built on the success of last year's event looking at trends in innovation and, through collaboration, how it can enable competition in payments services and support development and delivery of the UK's Payments Roadmap strategy. More at: http://www.techuk.org/payments-innovation-conference-2014-home
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Identity and PaymentsA brave new world
May 22, 2014
Identities
for
Global Commerce
2Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
Connecting the dots
Context
Payments Paradigms
Identity Paradigms
Implications
You can't connect the dots looking forward; you can only connect them
looking backwards.
So you have to trust that the dots will somehow connect in your future. You have to trust in something - your gut, destiny, life, karma, whatever.
This approach has never let me down, and it has made all the difference in
my life.Steve Jobs
3Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
Shifting payment paradigms
Shifting identity paradigms
Present
Ob
serv
ab
le q
uan
tity
Past Future
Empirical data, past
performance
Scenario Driver
Scenario A
Scenario B
Scenario C
Scenario D
Scenario E
Discontinuity
Emerging dots
Context
Payments Paradigms
Identity Paradigms
Implications
4Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
“Human node” base payment model
Context
Payments Paradigms
Identity Paradigms
Implications
PaymentNetworks
StandardsRegulations
ToolsConnectionsMonitoring
PartnershipsBrand
#1 #2
Single out
Sender Receiver
Single in
5Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
“Human node” distributed payment model
PaymentNetworks
StandardsRegulations
ToolsConnectionsMonitoring
PartnershipsBrand
#1
#2
#3
#4
Single in Multiple out
Sender
Receivers
Context
Payments Paradigms
Identity Paradigms
Implications
6Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
“Self-aware node” base payment model
#1
#2
Single out
Sender Receiver
Single inMultiple parties
Context
Payments Paradigms
Identity Paradigms
Implications
7Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
“Reactive” distributed payment model
Context
Payments Paradigms
Identity Paradigms
Implications
8Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
Multi-node to multi-node
Context
Payments Paradigms
Identity Paradigms
Implications
9Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
Multi-node to multi-node
Context
Payments Paradigms
Identity Paradigms
Implications
Each node adds to the network effect
Each node enforces the virtuous circle
BUT each node needs to be identified…
Because each node is a potential vulnerability
10Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
A definition of identity
Context
Payments Paradigms
Identity Paradigms
Implications
11Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
Multi-node: the identity dynamic
Context
Payments Paradigms
Identity Paradigms
Implications
12Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
Multiple nodes– multiple payments – multiple identities
Context
Payments Paradigms
Identity Paradigms
Implications
13Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
Understand the nodes
Protect node “purity”- The node is not its attributes- The node is not its authorizations
Map the dynamic vs static- Manage the issuance- Manage the validation (real time vs static)- Manage the underlying trust
Build in checks and balances from the start
Take a standards-based approach to identity
Preparing for the shift
Context
Payments Paradigms
Identity Paradigms
Implications
14Copyright ©2014 IdenTrust, Inc. | All Rights Reserved |2014-05-22 Payment Innovations Conference
Thank you!
The Panel
![[Lisa Wolf-Wendel, Susan B. Twombly, Suzanne Rice]](https://img.pdfslide.us/doc/110x75/577cd8ac1a28ab9e78a1b6ce/lisa-wolf-wendel-susan-b-twombly-suzanne-rice.jpg)
