Mobile Phone "Wallets": A Congressional Update On Policies and Practices Needed to Assure a Smooth and Fair Transition to Smartphone Consumer Payments
Friday, March 23, 2012
12:00 pm - 1:30 pm
Rayburn House Office Building - Room 2226
In many countries, payments via smartphone swipes have begun to replace the wallet as the predominant means by which consumers make point-of-sale and other purchases. This could happen very soon in the US, the experts tell us, given that Google, Intuit, PayPal, Square, Apple and wireless carriers are poised to enter the market for mobile payments. The implications are enormous for innovation, efficiency, consumer benefits and US technology leadership. We have assembled a panel of experts and government officials to identify the industry practices and public policies that need to be in place to assure that the transition to smartphone payments develops in the interests of both innovation and consumer protection. The panel will identify an array of public policy issues including customer financial privacy, cyber security, financial accountability and fraud. In addition, the panel will identify issues that policymakers should understand regarding consumer choice and interoperability issues. The panel will also outline which regulatory agencies are in charge of assuring basic consumer protections. In fact, there is a range of really fascinating policy issues that Congress should explore as this exciting technology takes off. This briefing is of interest to policymakers working financial policy, consumer protection, technology policy and innovation issues.
Robert D. Atkinson - Information Technology and Innovation Foundation [Bio]
Mark Egerman - Consumer Financial Protection Bureau [Bio]
Suzanne Martindale - Consumers Union [Bio]
Steve Mott - BetterBuyDesign [Bio]
Mark MacCarthy - Software and Information Industry Association [Bio] (Moderator)
This widely attended educational briefing is hosted by the Congressional Internet Caucus Advisory Committee (ICAC), part of a 501 (c)(3) charitable organization. Congressional staff and members of the press welcome. The ICAC is a private sector organization comprised of public interest groups, trade associations, non-profits, and corporations. More information on the ICAC is available at www.netcaucus.org.