Date: 9 Feb 2017, 8:30 - 12:00
Host: Bird & Bird Law Firm, Sundkrogen 2, 2100 København Ø
Is your business up-to-date on the latest in Payments technology?
As a business, you need to collect payment from consumers and customers, whether in Denmark, US or other countries, and your goal is to do this as reliably, quickly and inexpensively as possible, while meeting their expectations for ease-of-use, including online / while mobile.
Many new payment options are popping up, not only from Apple, Google, Amazon and Facebook, but also from an ever-growing swarm of fintech (financial technology) startups. These are challenging traditional banks and credit card providers — many of them using Bitcoin and blockchain technology, the pros and cons of which are still not widely understood. At the same time, government regulators are pressuring banks and intermediaries to cut the fees they earn from processing payments. As if all this weren’t enough, traditional providers of payment services are facing an onslaught of cyber attacks from increasingly sophisticated digital criminals.
All these trends are stimulating very rapid change in the payment industry.
If you are a Danish company doing business in the US, or transferring money between the US and Denmark or more widely, it’s important to understand these trends and to begin to think about whether and how your business should adapt.
Einar Dyrhauge, Executive Director, Danish-American Business Forum and Philip Graff, Partner, Bird & Bird
Fast forward to the future
Sasha Krstic, Head of the Nordics & Baltics, Mastercard
We will see more change within the payments industry in the next five years than we’ve seen in the last 50, bringing even more convenience and security for consumers. How will that look, and what possibilities does that bring for consumers and businesses? What are key differences between what’s happening in the US and Denmark?
Latest regulatory developments impacting payments in EU
Scott McInnes, Partner, Bird & Bird LLP
Scott will cover the most important regulatory developments impacting payments in the EU, such as the capping of the interchange fees, the requirement to apply “strong customer authentication” to payments (and the possible exemptions that the European Banking Authority is currently drafting), the requirement for banks to grant third party providers (“fintechs”) access to the account, etc.
Coffee and Networking Break
Copenhagen FinTech, and what trends are we seeing?
Thomas Krogh Jensen, CEO, Copenhagen FinTech
What is Copenhagen FinTech, and types of unmet needs being tackled by startups, including the demand for improved payment systems and fraud reduction
Trust and authentication applications of blockchain in the ecosystem
Sofie Blakstad, CEO and Founder, hiveonline
Blockchain technology addresses friction and fraud in transfer of assets, including invoice finance and trade finance, and now blockchain based trust systems can both enhance and replace traditional broker based authentication, paving the way to disintermediate traditional trust authorities such as banks
Wrapup and Q&A
Light networking lunch