Tech innovation in payment and commerce …
Mark Jamison (bio), Global Head of New Product R&D and Design at Visa, joins Pavan Bahl, Rob Sanchez and Marc Raco in Washington, DC at the Fashion + Tech Showcase presented by the Fashion Innovation Alliance.
Embedding, tokenizing, and the becoming the card of choice
Jamison discusses how Visa’s efforts have been about focusing on consumer preferences regarding commerce and payments, new ways of embedding payment methods, removing friction, tokenizing and embedding payment credentials, becoming from top of wallet, to top of mobile/device/merchant, and the quest to become the default card of choice.
The ring, the Olympics, and contactless payments
An introduction to Visa’s new wearable payment device, in the form of a ring, and why it was created. The hosts get a look at the only one in existence. Jamison shares how each Olympic athlete in 2016 Summer Games will receive a ring, the difficulty of the hardware and software engineering, and the process of creating, distributing and using more than 4,000 NFC-enabled, prepaid, reloadable battery-less cards. Jamison explains why the ring is just a showcase for technology, how Visa has established a standard of tokenization and what its big benefit is, and about contactless payments.
Security, reducing friction, and Pong
Also, a conversation on security, biometrics, cloud-based wallets, tokenization, looking at what consumers want vs. looking for a problem to solve, reducing friction for consumers, the new developer platform developer.visa.com, and why Pong made Jamison say “wow”.by