Welcome and introduction
An introduction to the conference sessions and discussions covering real-time payments, card payments, digital/mobile wallets and digital currencies.
Greg Pote, Chairman, APSCA
Keynote address from Bank Negara Malaysia Bank
Negara Malaysia discusses benefits from growing adoption of electronic payments, their contribution to economic development, financial inclusion and digital transformation.
Dr. Norhana Endut, Assistant Governor, Bank Negara Malaysia
A new paradigm for consumer and merchant payments
Transforming Digital Payments
Real-time payments (RTP) are transforming digital payments for consumers, businesses and governments by delivering new levels of speed, innovation and efficiency to account-to-account (A2A) payments. In 2022, 64 markets1 had live national RTP systems and more countries are set to launch. Growth is being driven by central banks and their national payment systems. Consumer and merchant adoption are driven by mobile QR-based RTP and low costs. Asia is a hotspot for real-time payments with some of the largest and fastest growing schemes.
Viewpoint 1: Maha El Dimachki, Centre Head, BIS Innovation Hub Singapore Centre [~20min]
Viewpoint 2: Qaiser Anwarudin, Director, Payment Services Policy Department, Bank Negara Malaysia [~20min]
Refreshments, Networking and Expo Viewing
Towards a new cross-border payments infrastructure
Globalising Real-Time Payments
RTP systems are already transforming local economies with faster, more innovative, more efficient and lower cost payments. The future success of real time payments will depend on how quickly and efficiently financial institutions can bring about global harmonisation of, and interoperability between, national RTP systems. Asia is a leader in linking national RTP systems to enable cross-border real-time payments. But the creation of a globally seamless RTP ecosystem still requires significant development and agreement between stakeholders.
Viewpoint 3: Pariwat Kanithasen, Deputy Director, Payments & Fintech, Bank of Thailand [~20min]
Viewpoint 4: Channa de Silva, Chief Executive Officer, LankaPay [~20min]
Viewpoint 5: German S. Constantino Jr., Acting Deputy Director, Payments Policy Group, Payments Policy and Development Department, Payments and Currency Management Sector, Bangko Sentral ng Pilipinas [~20min]
Future objectives for real-time payments
Discussion: RTP Next Steps - Matching the Success of Card Payments
Over the last 40+ years card payments have been hugely successful in delivering a globally interoperable e-payments infrastructure for consumers, merchants, and businesses. Achieving similar success with real-time payments will require more than common industry standards (e.g. ISO 20022). In addition to a uniform and interoperable RTP acceptance infrastructure, consumers and merchants will need the same kind of protections provided by the global card payments infrastructure. Growth in authorised push payment (APP) scams is expected to double2 from 2021 to 2026 in the US, the UK and India (RTP facilitates most APP fraud). In contrast, card payment fraud losses are now relatively flat in most markets. What should be the next steps for real-time payments to match the success of card payments?
Innovation in card payments and acceptance
Face-to-Face Card Payments
Payment cards in circulation worldwide are forecast3 to exceed 28 billion by 2027 with international payment cards in APAC accounting4 for 49.05% of the world’s total purchases. Card-accepting merchant outlets globally are forecast5 to reach 109 million by 2027. Biometric CVM is an opportunity to make all F2F card payments "touchfree", reduce friction at POS and authenticate all contactless transactions. This session explores why, despite alternative payments growth, card payments, card issuance and card acceptance are still increasing.
Viewpoint 1: Oliver Manahan, Director of Engagement and Operations, EMVCo [~30min]
Viewpoint 2: Annick Alligier, Payment & ID Marketing Manager, STMicroelectronics [~15min]
Viewpoint 3: Fang Lu-Ruhbach, Senior Product Marketing Manager, Infineon Technologies AG [~15min]
Viewpoint 4: Atul Jain, Head of Business Development - Asia, CompoSecure & Hari Velayudan, Co-Founder & COO, FPL Technologies [~15min]
The outlook for payment card products in APAC
Discussion: More Cards, More Card Products
Forecasts that the payments industry would reach “peak card” and card payments would be replaced by instant payments, open payments, account-to-account payments, have not yet come to pass. Card BINs were recently extended to cater for new issuers, and payment card tokenisation. An increasing number of neobanks and fintechs are launching physical payment cards to accompany their digital payments products. Over the coming 12 months, what are likely to be the fastest growing new payment card products: biometric payment cards, eco-friendly sustainable payment cards, or metal payment cards? How will the success of these products vary over different geographies in APAC? What role will the changing acceptance footprint have on the growth of card payments in Asia?
Refreshments, Networking and Expo Viewing
Securing and simplifying online card payments
E-Commerce and Online Card Payments
EMV chip cards are a proven global solution to card-present fraud; today most payment fraud originates from card-not-present (CNP) transactions. According to the European Central Bank9 , CNP fraud accounted for approximately 84% of total card fraud in 2021. The pandemic significantly boosted e-commerce transactions and CNP fraud is likely to increase. This session explores solutions available to card issuers and merchants for targeting the reduction of CNP fraud, as well as solutions to simplify online card payments and offer a more friction-free experience.
Viewpoint 5: Oliver Manahan, Director of Engagement and Operations, EMVCo [~15min]
Viewpoint 6: Cyril Lalo, Founder & CEO, Ellipse [~15min]
Viewpoint 7: Hanspeter Jsler, Managing Director, Netcetera [~15min]
Viewpoint 8: Gautam Pande, Vice President, Product Management, Mastercard [~15min]
Supporting the growth of e-commerce in APAC
Discussion: More Security, Less Friction
The pandemic significantly boosted consumer appetite for e-commerce and online payments; global ecommerce transaction value is forecast1 to grow from $6 trillion in 2022 to over $8.5 trillion in 2026. With the size and diversity of the region, are there market-specific customer behaviors and preferences for online shopping across Asia that need to be addressed differently? To protect CNP transactions, are there different approaches for customers using physical cards and customers using virtual cards in mobile wallets? Considering categories of online payment card fraud:
Synthetic identity theft Fake web shops / page hijacking
Account takeover Social Engineering
Triangulation Fraud Trojan fraud
Refund abuse and friendly fraud QR-Code fraud
E-mail phishing / fraud
What are the prevalent types of online payment card fraud in Asia-Pacific today? What are the best strategies to secure online card payments while protecting consumers and merchants from fraud while also delivering an online card payment experience for consumers that is as frictionless as possible?
Close of Day 1
EMVCo Reception: Refreshments & Networking at Sasana Kijiang Foyer