Industry Leaders Engage Payments’ Future at ETA Silicon Valley Day

November 12, 2014 – Today, ETA held its third annual Silicon Valley Day at the PayPal Campus in San Jose, CA. This at-capacity networking event, co-sponsored by PayPal and Discover, helped senior level payments executives representing financial institutions, technology companies, investment and VC firms, as well as analysts and industry consulting firms to understand the new payments paradigm and to prepare for the exciting industry changes ahead.

The half-day forum featured speakers from PayPal, Google, First Data, iPayment, American Express, Card Flight, BitNet Technologies, and Silicon Valley Bank and a networking breakfast with California State Senator Jerry Hill (D-San Mateo). Discussions included, among other high-power sessions, insights on mobile technology and a look at the future of B2B payments.

“Electronic payments are simultaneously becoming more crucial and more innovative, with technology that promotes safety, security, reliability and usability,” said ETA CEO Jason Oxman, “Our industry is responding to consumer preference for electronic payments, embracing innovation and changing the future of commerce”.

Among the notable predictions and observations voiced at the meeting were the following:

• One of the biggest issues ahead for the payments technology industry as a whole is increased government regulation.
• Biometrics could prove to be disruptive force in the mobile payment marketplace.
• Panelists predicted that 20% of retailers will be EMV compliant by 2015, 50% by 2018.