"Put away the credit card, a look at alternative payment methods" - John Downey, Security Lead at Braintree @jtdowney From CloudCamp Chicago's April 8 2015 event "fintech" Hosted by Cohesive Networks

1. Put away the credit card
A look at alternative payment methods
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2. @jtdowney 2

3. Why credit cards?
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4. • Ubiquitous (in the US)
• Accepted by most merchants
• Issued by most banks
• Anti-fraud systems
• Chargeback process
• You have an option if you want money back
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5. Why alternatives?
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6. • Lower fees
• Privacy
• Pseudonymity
• Security
• Ubiquitous (outside the US)
• Not tied to credit
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7. Bitcoin
• Typically lower fees
(adjustable)
• Some association with
criminal activities
• Offers pseudonymity
• Lackluster sales
performance
• No chargebacks
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8. Direct Debit
• Much lower fees
• Drawn directly from your bank account
• Not tied to credit
• Expected way to pay
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9. Direct Debit
• Automated Clearing House [ACH] (US)
• Elektronisches Lastschriftverfahren [ELV]
(Germany)
• Single European Payments Area [SEPA]
• iDEAL - Netherlands
• "Direct Debit" in other places (UK, etc)
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10. Digital Wallets
• Security by abstraction
• Often built on existing Credit Card or Direct
Debit rails
• Familiarity
• Often see increase in conversion
• Lower the purchase barrier
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11. Digital Wallets
• PayPal
• Alipay (huge in China)
• Apple Pay
• Google Wallet
• Pay with Amazon
• <Social Network> Pay
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12. ✔ Give your users options
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13. Don't overwhelm them
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14. It is increasingly expected of a
Global business
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15. Photos
• https://flic.kr/p/kkUu3B
• https://flic.kr/p/gGQRbT
• https://flic.kr/p/dtsf7h
• https://flic.kr/p/dTUAhR
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