Connecting the world’s commerce would be daunting without technology. It’s what generates purchase authorizations in about the time it takes you to blink. It’s what identifies fraudulent transactions in that same blink of an eye. And now it’s changing the way commerce is conducted.
Mobile devices and social networks are creating an always-on society where people can connect with each other and do business anytime, anywhere. We call this the “new normal.” Unfortunately, the solutions that make it easier for us to connect with each other also make it easier for criminals to connect with us.
Can we use the capabilities of the new technologies to deliver a payment system that is safer than ever before? Or will these technologies bring opportunities to criminals that will challenge our security teams as never before? This is the crossroads we stand at today.
At Visa, we call the road ahead “responsible innovation.” It’s a two-part idea.
First, we must stay true to the principles that have made us successful, ensuring that every innovation comes with the same level of security that our stakeholders have come to expect. Our imperative must be to build security into every solution from the ground up, not after the fact. Otherwise, we risk losing the trust on which our business depends – trust that’s been built over decades.
Second, we must consider how new technologies are changing consumer behavior. Consumers are using the mobile and social world to open their private lives to friends and family in new ways. In so doing, they are also opening their personal details to others with darker intentions. Clearly, our second imperative must be to adopt security approaches that work in a world where nothing is certain to be private.
At this year’s Visa Security Summit, to be held on October 2 in Washington, D.C., we will bring together a range of speakers – elected officials, entrepreneurs, technologists, journalists and global development experts – to talk about this unique intersection of technology and security.
Please join us for one of the most important conversations on payment security! And thank you to our sponsors, including Trustwave, SecurityMetrics and Kaspersky Lab, for helping make this dialogue possible.
Posted by: Ellen Richey, Chief Enterprise Risk Officer on September 9, 2013 at 9:00 am