Advances in Privacy Protection

Transcription

1 A new privacy tool Advances in Privacy Protection What is Greenlisting? Problem Solution Technology Increased network choice Lower payment cost Why Greenlisting matters

2 What is greenlisting? It is a foundational and critical feature to FI checking accounts in the growing online and mobile payment future, assuring FIs maintain and grow: Role of trusted provider of accounts and epayments Non-Interest Income from account and payment revenue Risk management in payments and funds Regulatory compliance of fraud and identity

3 Banks role in privacy Who's my identity bureau on the Internet? Who's willing to vouch for me to third parties? What does a bank need from me so I can get started? Bank Yes Registered? Bank A Bank B Remittance Payments Mobile and Cards Checks Cash No Bank C ACH, IBAN, PAN, SWIFT Accelerating migration to smaller more frequent electronic payments

4 The problem The ten-fold growth in mobile undermines FI revenue and relationships where non-banks have garnered as much as 33% Payment Networks: (PayPay, Google, Dwolla) Aggregators (BillFloat, PinPoint, BillMyParents) Billers and Services (Online/Phone Payment, Manilla, Doxo, Volly) FI Checking Acct Revenue Relationship Risk Regulatory Compliance (ID) Merchants (Walmart, Target, Home Depot) Mobile Carriers (Isis, Boku, Verizon, AT&T)

5 The solution Aggregators (BillFloat, PinPoint, BillMyParents) Payment Networks: (PayPay, Google, Dwolla) FI Checking Acct Revenue Relationship Risk Regulatory Compliance (ID) Merchants (Walmart, Target, Home Depot) Advantages: No Bank, Card or Account Data ever Shared FI Based Publicly Searchable Billers and Services (Online/Phone Payment; Manilla, Doxo, Volly) Telephone (Isis, Boku, Verizon, AT&T)

6 Name, City and Mobile Number verify a single identity Public deposit-only e-payment addresses Private data never leaves bank to complete a transaction Greenlist explained Public Private Public Identifiers Registry NEVER knows final destination account numbers Payment Pathways warrants that every Greenlist ID is unique and remains unchanged as registered and maintained by the registrar Privacy-Protection Publicly Discoverable Publicly Discoverable Greenlist ID (GLID) Payment Addresses Assured by Bank Name Customer and/or Bank Supplies a.k.a. UPIC or LCA-ACH Bank Account Number City Proxy and/or VISA Supplies a.k.a. "Masking PAN" Personal Account Number "PAN" Mobile Phone Number Nickname: "MyGreenlistID" (Next Banking Day) Linked Sender's GLID Pedro@gmail.com Facebook, Twitter, Skype, etc. name P (Instant Class of Service) Registrars warrant that public names are linked to and are the rightful owners of the accounts behind the associated public payment addresses which cannot be debited except by the owner or his linked recipient Only accredited entities can register participants

7 Greenlist explained

8 When network choice Payment costs Identity Service Provider Trust The NIST-NSTIC modeled Identity Attribute Network Trust Relying Party Registration Support Trust framework agreements

9 What gaps are filled? Instant Payment Transfers High Cost Low High Security level Low On- Bank Off- Bank Traditional Payment Nets Internet Mobile High Value Payments Small Value Payments > $1,000 < $1,000 $50B $ 9B $16B

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11 How IDENTITY ASSUREDNESS PROGRESSES Web Telco Bank Use Case Categories Enrollment ACH & PAN Output Notification Self US-ACH PAN Acct. Sweep SMS Merchant Foreign PAN Merchant Bank Merchant Mobile Call-back

12 When AFTER THE DURBIN AMENDMENT Online merchant payments in U.S. Bank Profits Paypal - ACH backed Paypal - Card backed Credit Card Debit Card Emerging Payments*

13 Where WITH THE NEW GREENLIST TOOL Remittance and Card-Not-Present payments between the U.S. and Latin America Bank Profits Paypal - ACH backed Paypal - Card backed Credit Card Debit Card Emerging Payments*

14 F o r m o r e w a ys t o h a r n e s s t h e p o w e r o f Greenlist t o c r e a t e w o r l d - c h a n g i n g i dentity a pplications based on bank t r u s t, vi s i t : w w w. p a ym e n t p a t h w a ys. c o m