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Payments at the 2015 AFP Annual Conference

  • By Staff Writers
  • Published: 9/11/2015
payment11The payments track at the 2015 AFP Annual Conference in Denver features an impressive lineup of sessions for treasury and finance professionals. Topics include mobile payments, same-day ACH, ISO 20022, interchange, fraud and more.

Starbucks, Chick-fil-A, and Caruso: Retailers Adopt Mobile
Mobile devices offer a new payment channel and new marketing opportunities to retailers. Come hear three successful mobile strategies from leading companies: Starbucks, Chick-fil-A, and Caruso Affiliates. These early adopters will tell you why they adopted mobile, how they built their mobile programs, what results they have achieved, the potential risks and pitfalls, and where they plan to take mobile in the future. Attendees take away ideas for ways to incorporate mobile into their payment, marketing, and customer service programs.

Real Time Customer Account Validation with Verizon
Fraud resulting from account takeovers and unauthorized transactions affects companies in all industries and costs millions. Practitioners need to know before the payment, not after, that the account number is bad. The tourniquet is a collaborative database containing information on nearly 600 million financial accounts, which practitioners can use to verify suspicious account numbers in real time. Hear Verizon discuss its experience with account validation.

Bitcoins? PayPal? What Payments Should Treasury Accept?
New collection or payment systems are spawned by visionaries every few months and treasury practitioners need to somehow decipher which one of these advances are worth adopting. Apple Pay, Bitcoins, PayPal, M-Pesa or even same day ACH, all provide creative new mediums of transaction with unknown elements of risk, implementation cost and a high level of doubt as to their future viability and acceptability by society. This session guides treasury professionals ascertain the benefits of being an early adopter, IT concerns and the possible risks.

Next Generation Bank Connectivity
Itron, a technology and manufacturing company serving the global utility sector, leveraged new payments standards to better support its global business and transformed data into business intelligence through ISO 20022 XML payments standards and SWIFT that met SEPA and global domestic payment processing requirements. Speakers discuss how having established global standards are greatly important after an acquisition, as the acquired company can move to the established standard.

Combating Fraud in an Evolving Payments World
With numerous POS options available, the opportunity for fraudulent transactions is on the rise. Corporates face considerable challenges mitigating payment fraud in order to protect vital assets, employees and customers. In this session, practitioners and their banking partner discuss the use of payment processing solutions to combat fraud. Delta Air Lines, GameStop and Kroger Co. share best practices for implementing procedural improvements that streamline how cash and checks are handled at POS, the use of smart-safe technology and back-office fraud prevention solutions.

Leaping Ahead of the International Payments Curve
As conducting business across borders becomes more common and more fluid, it is important to transition to new methods. Each international market is unique. This panel session, featuring a bank payment strategist, an industry expert and a corporate practitioner, defines successful cross-border strategies by exploring the current challenges many businesses face in the global payment space, the evolution of issues that have brought the industry where it is today, and evaluating successful international payment practices.

Integrating Global Payments Through Treasury Transformation
Increasing economic complexities across the globe have forced companies to become more efficient. In the case of global payments, treasury faces considerable challenges. In this presentation, speakers examine the new technological tools and emerging payment standards across the globe that are enabling treasurers to harmonize and simplify payments, manage multiple currencies and effectively handle the associated risks. Becton, Dickinson and Company, a leading medical technology company, will share best practices in integrating global payments through an ambitious treasury transformation initiative.

Attacking Interchange
Credit card processing fees are extensive and somewhat overwhelming. Nevertheless, you have to pay them if you want to process credit cards through your business. Rather than paying these charges blindly, a corporates best route to reducing them is educating yourself first. Then with understanding, comes the fun part - fighting back wherever you can! This session is a debrief of a fight against interchange fees in 2014 along with an active sharing session and discovery of steps attendees can carry back to their organizations.

The Path to Electronic Healthcare Payments: Well Traveled but Unfinished
The ACA promised a dramatic increase in the efficiency of healthcare payments by mandating electronic transactions. The ACA requires insurers to pay with an ACH transaction if a healthcare provider requests it. Progress has been impressive but uneven. Discover how regulators have responded to smooth the way for electronic payments. Also learn how one major hospital company adapted when facing resistance. While this session focuses on aspects of the healthcare market, there are important lessons for all companies seeking to persuade their customers to pay electronically.

Mobile Payments Frameworks Take On B2C Checks
More than three billion business-to-consumer (B2C) checks remain in the system according to the 2013 Federal Reserve Payments Study. Businesses are increasingly motivated to pay electronically despite several constraints. In this session, MetLife, Con Ed and FedEx discuss industry trends, best practices, and the role that new mobile corporate payment solutions play in their quest to pay consumers electronically. Attendees learn critical insights, such as the largest sources of B2C checks and how a banking partner can support electronification objectives.

Achieving Treasury Nirvana: Electronic Straight-Through Remittance Processing
Recent electronic treasury advancements have sped up remittance and payments processing, yet challenges continue to stand in the way of attaining straight-through electronic remittance and payment processing. In this session, treasury professionals from Republic Services, PayPal and Con Edison review recent innovations, including Virtual Reference Numbers, UPIC, data enrichment and integration with XML and ISO20022, and discuss how they have helped improve some processes. Attendees learn about the latest innovations and gain valuable insights into how to reach this important goal.

The Merchant Perspective on Mobile Commerce
2015 is shaping up to be a banner year for the implantation of mobile commerce solutions at large merchant companies throughout the United States. Hear from Treasury professionals from a cross-section of major merchant verticals regarding their strategic decision-making in which solutions to deploy, and how those deployments have gone to date.

Valspar Tackles Imposter Fraud Head On
Impostor fraud takes many forms: Thieves pose as company executives and instruct employees to make unauthorized payments. They impersonate vendors and request changes to their payment account numbers – or they hack into their targets’ vendor databases and change the account numbers themselves. These thefts often are unrecoverable and cost millions. After being victimized, Valspar Corporation resolved to end impostor fraud. They looked at their accounts payable process end to end and identified all risks. They also enacted procedures to reduce those risks, which the speakers will share with attendees.
 
Business Payment Directories: A Proof of Concept
Many businesses continue to rely on expensive and less efficient check payments. One major barrier to electronic B2B payments and remittance exchange is the lack of an open, industry-wide directory containing electronic payment identities. Such a directory could help ensure efficient business payments that would benefit all players. This panel, which includes a Federal Reserve representative, a corporate practitioner, and a solution provider from the Remittance Coalition describes a test on the viability of such a directory of payee information. The panel discusses real-world cases, business models and potential market solutions.
 
Where Isn’t My Data Stored? Help!!
Information sharing is essential for effective bank relationship management. Corporates share their bank account information with every company that is paying them electronically, but there are many security concerns. Attendees hear a perspective of the many aspects of this problem, and hear from Giant Eagle and Colorado Business Bank who have worked to implement safeguards to secure banking information enabling receipt of electronic payments. How can tokenization help your organization?
 
Imminent Strategic Issues in U.S. Payments
The Federal Reserve Banks are leading a multi-pronged initiative to implement strategies to improve the U.S. payment system. Central to this effort is continued collaboration with industry participants via faster payments and security task forces. It is critical for treasury professionals to engage in this important endeavor in order weigh in on alternatives, and prepare for sweeping improvements. Learn about research planned in 2016 on a potential national electronic invoicing solution which would address remittance processing headaches plaguing U.S. businesses and potentially streamline the B2B payments process.

Corporate Strategies for Preventing Payments Fraud
Payments fraud experts from the Federal Reserve, T. Rowe Price Associates, Inc., and Costco Wholesale Corporation present a snapshot of the current state of payments fraud in corporate U.S.A. and discuss effective practices to defend against it. They outline risk vulnerabilities and best practices to mitigate them including internal controls and transaction screening. Join a thoughtful discussion that offers education about payments fraud threats and shares tips on how to manage risk and limit liability exposure.
 
How Bayer Stopped Payments Pain with ISO 20022
As global organizations use diverse technologies to improve payment efficiency, the SEPA mandate has propelled the use of ISO 20022 XML to the international forefront. In this session, attendees will learn how Bayer leveraged their European processing acumen to streamline domestic payments in the US and their future direction with this expanding technology. Speakers provide an overview of the ISO 20022 standard, its adoption globally and the forces driving change in the US. They offer insights into navigating the challenges of migrating from traditional payment methods and how the ISO 20022 XML standard can deliver value to companies..

Taking POBO Global
An expanding number of corporates face the challenge of managing global payments. Innovative payment solutions pave the way for meeting growth objectives. In this session, practitioners from PayPal and MetLife discuss the worldwide impact of payment processing in the face of fraud risk and complex regulation. Attendees learn the importance of core operational flexibility, understanding new country rules, and dealing with the impact of SEPA mandates. Lastly, they discuss innovative payment types and their place in an effective global approach.

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