Webinar: Will Faster Payments by 2020 be Better Payments?

March 20, 2019

This webinar was for MAG current/prospect merchants and current/prospect sponsors.

MAG members can view the webinar presentation & recording (login required)

While some of the Federal Reserve's efforts to nudge the payments industry into providing options for real-time (faster) payments seem promising, the outlook and timing of any benefits for merchants are far from clear.  This webinar drills down into both the politics and practicalities of faster payments.  Attendees will hear the pros and cons—and the learnings—of the Fed’s process to-date, the big-bank offerings of The Clearing House, faster payments implementations outside the U.S., and prospects for some likely non-(big) bank offerings.  Central to this discussion is what payment ‘use cases’ are expected to emerge, and whether and how consumer and merchant users will be able to make use of them to gain faster and more efficient payments.

Mott_Steve_photo 2017

Steve Mott is a 30-year veteran of the electronic payments and security industry, specializing in ‘landscape’ and strategic assessments, transaction economics, innovative uses of debit networks, authentication and security technologies, and emerging alternative payments types and venues—including stored value, online and mobile commerce, cloud-based/digital marketing systems, and transacting over social networks. 

As principal of BetterBuyDesign, a payments consultancy, Steve (and partner organizations) work with clients on strategy development, product research and design, organizational effectiveness and vendor management, technology evaluations, and market assessments. His clients include merchants, banks, processors, networks, technology providers and corporates.  

Steve also advises investment firms on industry trends and developments, conducts business valuations and M&A/due diligence support, and serves as an expert witnesses in patent, trade secret, and other IP matters. Steve serves as a subject matter expert for the Federal Reserve and other industry organizations, speaks at two dozen payments conferences each year, and is a frequent contributor to Digital Transactions Magazine and n*genuity Journal. You can reach Steve at stevemottusa@gmail.comand 203.536.0588.  



John Drechny is CEO of the Merchant Advisory Group (MAG). As CEO, John helps MAG’s 140 plus merchant members to drive positive change and innovation in the payments industry, serving merchants’ interests through collaboration, education and advocacy. 

Prior to joining the MAG, John enjoyed a 20-year career at Walmart holding various leadership positions in Payments Acceptance, Marketing and Financial Services. As part of the leadership of Walmart’s Payments team, John helped shape and implement a comprehensive strategy increasing the ease of payments in an omni-channel environment while ensuring Walmart could deliver on its brand promise of helping its customers save more so they can live better.

John chaired both the Merchant Advisory Group and the U.S. Payments Forum Steering Committee.  He also held a steering committee seat for the Federal Reserve’s Faster Payment effort, as well as a seat on the Governance Framework Formation Team.

Industry stakeholders have recognized John for his ability to find common ground and drive positive outcomes from opposing views.

John attended Northern Illinois University in DeKalb, IL, where he received his Bachelor’s Degree.  He currently lives in Bentonville, Arkansas.

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