Technology in Retail Payment Innovations

Eric Barbier, chief executive officer of TransferTo, is a repeat entrepreneur in the mobile and internet industries. He cofounded Mobileway/Mobile 365 in 1999, which became a leading mobile messaging hub. In 2006, Mobile 365 was acquired by Sybase. In 2007, he founded TransferTo, the prepaid mobile credit international remittance leader, which in 2010 was acquired by Ingenico. Barbier is also an investor and board member of Bootic Inc. He holds a master's degree in engineering.

Jeff Bohlin is director of product strategy at WorldPay. He has extensive knowledge in the payments industry, including product development, network compliance, and processing regulations. A 15-year veteran of payments processing, Bohlin helped release point-to-point encryption (first to market) and certify the first IP-capable POS terminals. He is currently focused on deploying EMV for WorldPay in the United States. He is trained in PCI compliance, Visa key management, and PIN security.

Jody Chafee is a commercial attorney in the Law and Corporate Affairs Department of Starbucks Coffee Company. He is principally responsible for negotiating technology transactions both domestically and internationally, including transactions involving telecommunications, networks, software and hardware procurement and development, hosting, software-as-a-service, and cloud computing. He is also responsible for larger transactions, including large outsourcing arrangements, e-commerce systems, mergers, acquisitions and joint venture formation. Chafee also assists in maintaining Starbucks' enterprise-wide technological compliance with applicable data retention and security requirements and has principal responsibility for a number of various larger transactions including large outsourcing arrangements, e-commerce systems, mergers, acquisitions and joint venture formation. Prior to joining Starbucks eight years ago, Chafee was a partner at Riddell Williams PS, where, in addition to technology arrangements, he had principal responsibility for a wide variety of transactions, including private placements, mergers and acquisitions, and asset and stock sales and purchases.

Chris Conn, Future Banking Initiatives Manager at SWIFT, is responsible for the management of SWIFT's Correspondent Banking and Corporate initiatives in North and Latin America. Conn joined SWIFT in August 2006 with a primary focus on the Trade Services Utility. Since joining SWIFT, his role has expanded to include management of trade in the corporate access segment, correspondent banking, and the future of payments. In this capacity, he is working closely with bankers to maximize the value of their international business and corporate customers to help them automate their international treasury operations. Before joining SWIFT, Conn was with the Bank of New York in New York, where he was responsible for the technology strategy of their trade and supply chain services offerings. Conn has over 30 years' experience in banking with different responsibilities across various areas of international payment operations, cash management sales, correspondent banking, credit and trade product management.

Conn is a member of BAFT-IFSA, and a participant in both BAFT-IFSA's Trade Services Product Management and Financial Supply Chain Committees. He is a regular speaker at various industry and vendor conferences, including BAFT-IFSA, Exporta, Euromoney, FELABAN, FCIB, and SWIFT events. He has been featured in trade publications and his commentary on banking developments and trends is often referenced by industry analysts.

Marianne Crowe is vice president of payment strategies at the Federal Reserve Bank of Boston. Her primary responsibilities include industry analysis and applied research on emerging retail payments. Her current research focus is on mobile payments and leading the Mobile Payments Industry Workgroup. She also chairs the Boston Fed's management council. Previous management responsibilities at the Fed include the Consumer Payments Research Center, Retail Business Development, the National Check Image Archive Service, and the Boston Check Operation. She is a member of the BITS Mobile Payments Workgroup and the NACHA Internet Council. Prior to joining the Fed in 2001, Crowe held management positions in management information systems, information technology, and check processing at the Bank of Boston. Crowe has an MBA from Babson College.

Drago Dzerve, director of business development at VeriFone Inc., has been working with merchants for more than a decade building fit for purpose payment solutions. This has included the earliest implementations of high speed connectivity and mobile payments through the adoption of end to end encryption and the latest alternative payment technologies being introduced in the industry today. Dzerve is a frequent speaker at trade shows and user groups, is a contributor to, and has been quoted in several industry publications. He received his undergraduate degree from Indiana University and graduated with honors from the Crummer Graduate School of Business at Rollins College in Winter Park, Florida.

Scott Forbes is director at Cryptography Research Inc., a leading security research and development company. He manages business development, product development, and technology licensing related to mobile payments and wireless technology. Previously, Forbes held senior positions with Dolby Laboratories, GE, and Microsoft focused on consumer electronics and secure communications. He is an inventor on 30+ patent applications and a member of the IEEE, ABA, and other professional organizations. He holds a PhD in telecommunications from Pennsylvania State University, a law degree from George Washington University, and an MBA from Indiana University.

Richard Fraher is vice president and counsel to the Federal Reserve System Retail Payments Office (RPO), based at the Federal Reserve Bank of Atlanta. Fraher joined the Atlanta Fed in 1998 as a senior counsel and was promoted to assistant general counsel in 2002 and counsel to the RPO in 2009. Before joining the Atlanta Fed, Fraher was a senior attorney with the Federal Deposit Insurance Corporation from 1991 to 1998. From 1986 to 1991, he was a professor of law at Indiana University. He also taught legal methods at Harvard Law School and was an assistant professor of history at Harvard University.

Fraher served as a member of the Banking Industry/Federal Reserve Task Force on electronic returns of dishonored checks from 2000 to 2001. From 2008 to 2010, he served as special adviser to the Steering Committee of the International Payments Framework LLC, which developed and implemented a technical and legal platform for international credit transfers using ACH networks. He has chaired the Federal Reserve's Payments Advisory Group since 2001. He is cochair of the Check Image Collaborative Legal Work Group, a joint Federal Reserve-industry effort to identify and resolve legal and regulatory issues arising from the rapid transition from paper-based check collection to image-based processing. He has been a principal organizer of the Reserve Bank's Retail Payments Law Forum, in which payments lawyers from the Federal Reserve and the financial services sector discuss emerging payments issues.

Fraher earned a bachelor's degree, cum laude, from Wright State University. He earned master's degrees from the University of Wisconsin-Milwaukee and Cornell University. He earned a doctorate at Cornell University. Fraher earned his juris doctor, magna cum laude, from Harvard Law School. He has been a visiting scholar at St. Edmund's College and St. John's College at Cambridge University and a visiting fellow at the School of Law at the University of California, Berkeley. He received a National Endowment for the Humanities Fellowship for Individual Research. He is a member of the State Bar of Pennsylvania.

Cynthia Fuller is executive director at X9 Inc. As executive director of the Accredited Standards Committee X9 (ASC X9), Fuller has more than 30 years of experience in association management and banking, as well as financial industry technical standards development. She also has experience managing the open, consensus-based processes and administering national and international bodies that develop and manage critical standards for the banking and financial services industry.

In 2001, Fuller, with a group of senior banking and financial services experts, established ASC X9 as an independent committed standards development association and headquartered the organization in Annapolis, Maryland. Today, X9 consists of four major business area subcommittees and more than 35 working groups. These subcommittees and working groups develop and manage more than 100 published American National Standards guiding financial transactions as well as provide the U.S. input and vote on ISO financial standards. In addition, Ms. Fuller serves as the secretariat for the ISO Technical Committee 68, the only ISO technical committee dedicated to financial industry standards with more than 76 participating countries and 57 published global standards.

Formerly director of standards at American Bankers Association, she previously held positions with the Johns Hopkins University School of Medicine and was a business/practice management consultant to medical professionals for a Wisconsin-based national company. Fuller earned a bachelor of business administration and a master of science degree from The Ohio State University.

Matthew Harper is group vice president and manager of Client Authentication within Enterprise Fraud Management at SunTrust. His scope of responsibility includes client authentication for all lines of businesses and client channels across SunTrust. He is challenged with managing security and fraud risk for clients while balancing the user experience. Harper joined SunTrust in 2001 and has worked in the security, fraud, and risk management organization since that time in various capacities focusing on information security, fraud, and client-facing controls. Prior to joining SunTrust, he worked at Arthur Andersen as a senior audit and security consultant. He is a graduate of Louisiana State University and holds the CISA, CISM, and CISSP designations

Bonnie Holland is manager of payment processing, accounting, and reporting with Delta Air Lines, where she has worked for 16 years, primarily in the revenue accounting department. She oversees the day-to-day operations for the company's global form of payment sales, mostly consisting of credit cards but also including PayPal and Bill Me Later. Holland manages chargebacks, with fraud being the highest volume received. Holland represents Delta on the ARC Credit Card Services Advisory Committee, the A4A Credit Committee, and the Merchant Advisory Group (MAG). She is a graduate of the University of Florida.

Bengt Horsma is head of mobile provisioning services for Visa Inc. and is responsible for development and implementation of mobile services that enable the secure provisioning of payment account information on mobile devices. Horsma worked previously for First Data, where he served as vice president of NFC Solutions for the past three years. Before First Data, Horsma spent eight years at MasterCard as a vice president/senior business leader, focusing on product and business development. In this role, he led the development and commercial launch of PayPass, Mastercard's contactless payment solution. Before MasterCard, he held a number of positions in the payments and banking industry in the U.S. and Europe.

Jack Jania, senior vice president/general manager of the financial services group of Gemalto North America. He consults with and advises financial and enterprise institutions on the best business strategies to employ smart card payment and data security solutions. In addition to supporting Gemalto's business and security objectives, Jania is committed to consumer education and advocacy through Gemalto's online resource,, which provides answers to consumer questions about how to better enjoy the conveniences of the digital world. Previously, Jania worked in the mobile communication division and was involved in the launch of smart cards supporting 3G wireless networks and NFC smart card technology. Jania has extensive component engineering, high speed microprocessor functional test and computer system level architecture design experience.

Marc B. Keller is the global director of digital networks and mobile in Citigroup's Global Enterprise Payments Group (GEP). GEP is the strategic and business development arm focused on consumer and commercial payments for the evolving digital commerce space (including mobile, tablet, PC, cable/digital TV). In this role, Keller leads a team to develop new lines of business for Citigroup that deliver seamless mobile commerce experiences for customers and corporations in the converged digital world.

Keller was formerly the senior vice president and research and development executive for emerging payments and mobility at Bank of America. He led early stage mobile commerce strategy, product and business development to determine Bank of America's new business models and strategic approaches to consumer payments. At Bank of America's MIT- (Massachusetts Institute of Technology-) based Center for Future Banking, he cocreated the "Next Billion" effort to expand financial services via mobile telephony to the underserved both in the United States and across the developing world.

Previous to Bank of America, Keller spent more than six years working as the managing partner of Southland Partners in New York City, the boutique consulting and venture capital group that he founded. His work with Southland Partners was focused on emerging and alternative (underbanked) payments companies. Before and after his graduate study, Keller worked as a strategy consultant for the Boston Consulting Group focused on e-ventures, pharmaceuticals, and financial services in both the New York City and Mexico City offices. Before joining Boston Consulting Group, Keller founded and sold a consumer goods promotions and licensing company serving multinational companies across Latin America. He began his career as a brand manager for Nabisco in Mexico City. Keller earned an MBA from Columbia University in New York, as well as a BBA and a BA from the University of Texas at Austin.

Nick LeCuyer leads strategy and distribution for Western Union Digital Ventures (which comprises Western Union's web and mobile money transfer businesses). The strategy part of his role includes strategic planning for Digital Ventures, as well as strategic alliances and other market-facing business development activities. The distribution part of his role involves building out Western Union's global network of partners that are able to distribute Western Union's money transfer services in digital channels. These partners include mobile network operators and mobile money platforms; banks; payment processors; as well as a variety of other partner types.

Prior to this role, LeCuyer held the role of vice president and head of corporate strategy. In this role, he worked with the chief executive officer, chief financial officer, and the rest of the senior team to develop Western Union's vision and direction, growth strategy, and resource allocation. Prior to joining Western Union, LeCuyer was an associate principal at McKinsey & Company, where he played a leadership role in the North American Payments Practice and served leading financial institutions in the payments, consumer credit, retail banking, and financial planning industries on issues of strategy, growth, and performance.

LeCuyer started his professional career with the U.S. Army, serving in units stationed in the United States as well as South Korea and Germany. He holds a bachelor of science degree in civil engineering from Princeton University, as well as a master of business administration degree from the University of Michigan's Ross School of Business.

Dennis P. Lockhart is president and chief executive officer of the Federal Reserve Bank of Atlanta. In this role, he is responsible for all of the Atlanta Fed's activities, including monetary policy, bank supervision and regulation, and payment services. He also chairs the Bank's management committee and is a voting member on the Federal Open Market Committee. Prior to joining the Atlanta Fed in March 2007, Lockhart served on the faculty of Georgetown University's Walsh School of Foreign Service, teaching in the master's program and chairing the program's concentrations in international business–government relations and global commerce and finance. He was also an adjunct professor at Johns Hopkins University's Nitze School of Advanced International Studies. Prior to his academic career, Lockhart was managing partner at the private equity firm Zephyr Management LP. He also worked at Heller Financial, where he served as executive vice president and director of the parent company and as president of Heller International Group.

Previously, Lockhart held various positions, both domestic and international, with Citicorp/Citibank. In addition to his professional activities, Lockhart was a member of the boards of directors of several companies and was chairman of the Small Enterprise Assistance Funds, a not-for-profit operator of emerging markets venture capital funds. He holds a bachelor's degree in political science and economics from Stanford University and a master's degree in international economics and American foreign policy from the Johns Hopkins University School of Advanced International Studies.

Bill Maurer, PhD, is professor of anthropology and law and associate dean for research and graduate studies at the University of California, Irvine. He is also the director of the Institute for Money, Technology, and Financial Inclusion (, a research center devoted to understanding people's existing monetary ecologies and the impact of new technologies, including mobile phone-enabled money transfer and savings services. He serves as the codirector for the Intel Science and Technology Center in Social Computing. He has published six books and more than 50 research articles for academic, industry, and regulatory audiences. His research focuses on the interaction between financial systems and people's everyday social and cultural uses of money. He also has a strong interest in user-driven innovation and the unplanned affordances of mobile devices. His work has received major awards from professional organizations ranging from the Society for Humanistic Anthropology to the Association for Computing Machinery. He is currently conducting research under a grant from the U.S. National Science Foundation on emerging regulatory framework for mobile financial services. He received his bachelor's degree from Vassar College and his master's and doctorate from Stanford University.

Deborah Peace, chief executive officer of ACH Alert, has more than 20 years devoted to the ACH industry, specializing in all areas of operations, marketing, and product development. She has served on the Consumer Advisory Council of the Federal Reserve Board, was invited to spend time with the Office of the Comptroller of the Currency in New York to demonstrate the innovative fraud prevention tools developed by ACH Alert. In addition, she was engaged by the State of Tennessee Bank Commissioner to provide ACH training for the State of Tennessee Bank Examiners. She has conducted numerous educational ACH seminars throughout the country. Most recently, ACH Alert received the Kevin O'Brien ACH Quality Award at Payments 2012, an award recognizing the organization for its efforts to maintain or improve the quality of ACH services and the integrity and reliability of the ACH network.

Steve Robb is senior vice president of Products and Services for Atlanta-based ControlScan, the leading provider of PCI compliance and security solutions designed for small merchants and the ISOs and acquirers that serve them. In this role, Robb is responsible for leading the product strategy and development efforts within the company as well as the delivery of professional services.

Before joining ControlScan, Robb led software development operations for more than 30 different product groups for Infor Global Solutions, a $2.2 billion acquirer and consolidator of business software applications. In a prior role at Infor, he led all operational aspects of the company's inside sales functions, whose revenues grew more than 425 percent in a six-month period. Robb's experience also spans a range of functions including marketing, customer service and support, product management, and professional services for companies such as Accenture, RR Donnelley & Sons, and XcelleNet (now Sybase).

Robb holds a bachelor's degree in electrical engineering from the University of Michigan and an MBA from the Kellogg School of Management at Northwestern University.

Terri Sands is an accredited ACH professional (AAP) and senior vice president at State Bank and Trust, where she is responsible for the oversight of payments Risk Management, Fraud Management, and serves as the bank's liaison to regulatory and industry groups on payment-related issues. Throughout her career, Sands has served as a leader in the payments industry, providing education, consulting, and support services geared toward the specific needs of community banks and credit unions in the areas of payments risk management. Prior to State Bank and Trust, Sands served as cofounder of Payments Information Circle (PIC), a service organization providing payments industry education, consulting, resources, and support services to financial institutions throughout the country. She has written numerous publications and articles on payments risk, auditing, and fraud management. Prior to her work at PIC, she served as the president of GACHA, a nonprofit regional payments association, and worked at the Federal Reserve Bank of Atlanta in ACH, where she was responsible for providing ACH services, educating financial institutions on ACH-related issues, and serving on the FedACH Consolidation Team. Sands is also the founder of Secura, a risk management company devoted to providing education to community banks on payments risk and fraud-related issues. Sands holds a bachelor of science degree from the University of North Carolina.

Whitney Stewart, mass market segment and value-added services executive with SunTrust Bank, is responsible for SunTrust's mass market consumer segment strategy and leads the bank's efforts to optimize client experience and revenue opportunities with these clients. In addition, she manages the bank's efforts to expand revenue through value-added-services offerings targeting the consumer market, including debit cards, prepaid and gift cards, ID theft and insurance services, check printing, overdraft, remittance, check cashing, and other fee services.

Stewart, who has more than 18 years of technology and financial services industry experience, joined SunTrust in February 2008. Prior to joining SunTrust, she ran Discover Network's brand and communications organization for Discover Financial Services. She has also held senior management positions in marketing, product management, and business strategy at Carreker, Bank of America, eFunds Corporation, and Deluxe Corporation. In addition, Stewart serves on the MasterCard Debit Advisory Board, MasterCard Point of Interaction Advisory Board, STAR Network Client Advisory Board, the Consumer Bankers Association Interchange Working Group, and the Financial Services Roundtable Interchange Working Group.

Stewart earned a bachelor's degree in economics from Westminster College in Fulton, Missouri, and an MBA from the University of Texas.

Murray Walton is chief risk officer of Fiserv Inc., where he is responsible for operational risk management, including business continuity planning, incident management, insurance, PCI compliance, risk assessment and remediation, and physical and logical security. Walton joined Fiserv in 2006 as assistant to the company's new chief executive officer, supporting the development and implementation of the One Fiserv strategy that has transitioned this former holding company into an increasingly integrated operating organization. He was named chief risk officer in mid-2007, and has subsequently guided the transformation of Fiserv risk management from a decentralized model to enterprise-directed standards, programs and infrastructure. Walton has also led the integrations of two large Fiserv acquisitions, CheckFree Corporation in 2007, and CashEdge Inc. in 2011.

Prior to Fiserv, Walton was associated with H&R Block Tax Services. There, he founded the corporate function that manages risks associated with the delivery of tax preparation and related financial services, including privacy, fraud, IRS, state and municipal compliance regulations. He served as the company's first chief compliance officer. Prior to his roles at Fiserv and H&R Block, Walton served for nearly two decades as an executive of both investor-owned and family-owned banks, and as a leader in two technology companies that dominated their respective industries.