Seattle Digital Identity Tour covers payments, fraud and commerce

Welcome to the Seattle Digital Identity &
Commerce Tour!
September 13, 2016

2
DIGITAL IDENTITY & COMMERCE TOUR
Agenda
9:15 – 10:15 am
Opening Keynote: Cyber Threat Trends
with The FBI
This session will cover the recent trends the FBI
is seeing in fraudulent schemes, including
cyber-based as well as more traditional frauds,
targeting both individuals and businesses.
10:15 – 10:45 am
Extend Customer Lifetime Value with
Intelligent Payments Data with Vantiv
Merchants are constantly focused on
identifying new revenue streams, increasing
customer retention, and streamlining
operations. This session from Vantiv examines
the frequently overlooked rich data nuggets:
response info gleaned from payments
processing, account updating, fraud
management, and digital wallets, that can all
identify critical attributes that can help drive
higher revenue-per-customer.
10:45 -11:15 am
What every eCommerce Seller needs to
know about Sales Tax with Avalara
When do you need to collect sales tax for
online transactions? How much? With every
state making up their own rules, it’s hard to
keep up. In this session, tax expert Shane
Ratigan will break down the rules and share
the latest on sales tax laws impacting
eCommerce. Learn what states are doing to
force online merchants to collect sales tax
on every transaction, and how you can
prepare your business.
11:15 – 11:45 am
Identity Verification for Digital Commerce
with Whitepages Pro
Fraudsters hide behind their computer
precisely because they believe you cannot
identify them. And if you are without an
identity verification tool, they are right.
Learn about how fraud teams work with
identity verification data to reduce fraud and
speed good transactions to clear.

3
Agenda
11:45 – 12:45 pm
Lunch with Open Merchant Q & A
12:45 – 1:30 pm
Global Payments Survey with The Merchant
Risk Council
The MRC will be summarizing results, key
findings, and analysis from its 2016 Global
Payments Survey. Benchmarking results
from the MRC’s Global Payments Survey are
a valuable benefit as they help MRC
members assess trends on a variety of key
performance indicators (KPIs), metrics, and
data points. As a result, members are able to
analyze their own systems, processes, and
policies in comparison to merchants in
different regions and sectors, and optimize
their businesses in the process.
1:30 – 2:30 pm
What’s Top of Mind in Payments and Fraud
for Microsoft, Zillow, and Expedia
It is a fact, that there are an overwhelming
number of new technologies that merchants
can deploy to maximize their online
operations. In this panel, three Seattle-based
merchants will describe the key areas of
focus for their companies in regard to data
analytics, payments and fraud. With a focus
on interaction with the attendees, this panel
will provide thought leadership, operational
ideas and a chance for you to ask some
industry experts their opinions on breaking
trends.
2:30 – 3:30 pm
Closing Keynote with Remitly CEO, Matt
Oppenheimer
3:30 – 4:30 pm
Happy Hour at Frolik Kitchen &
Bar Sponsored by The Merchant Risk
Council

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Content
• Risk, fraud, law enforcement
• Online sales tax
• Emerging payments and security
• Global expansion
• Identity verification
• Big data management
• Team structures and tools
• Regulatory changes and trends

5
Who is here?
• Online merchants
• Financial services companies
• Solution providers
• Consultants

6
The Sponsors

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Tom Donlea, emcee
• 3 years @ Whitepages Pro
• 7 years @ Merchant Risk Council

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Why are we here?
• Growth of this channel
• Complexity of our space
• Consumer expectations
• Global expansion
• Organizational changes
• Industry trends and regulatory issues

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History – Mary Meeker Slides

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Goals for Today
• Connect with peers
• Share best practices
• Hear from expert practitioners
• Hear from industry leading solutions
• Expand your minds…saving money and time!

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Trivia #1 - Customer Service
• A disgruntled customer recently left
this item in a Florida Wendy’s as a
prank:
A. A garbage bag full of sewage
B. Gator
C. Box of soiled diapers
D. All of the above

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Trivia #1 – Customer Service
B. Gator

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Trivia #2 - Consumer Trends
• How many states require online
sales tax even if a merchant doesn’t
have a physical presence in the
state?
A. 23
B. All 50
C. 12
D. None of the above

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Trivia #2 - Consumer Trends
A. 23

Extend Customer Lifetime
Value with Payments Data
Paul Finley
Sr. Director, eCommerce Solutions
Vantiv
Sept. 13, 2016

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Who is Vantiv?
• We’re the second-largest payments acquirer in the
United States.
• Our eCommerce division processes payments for
companies like Hulu, Netflix, Ancestry.com,
Overstock.com, and Wayfair – among hundreds of
others.

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Agenda
• Rise of Recurring Payments and Key Metrics
• Payments Data and Customer Lifetime Value
• Use Cases for Payments Data
• The Next Frontiers in Payments Data

Rise of Recurring Payments
And key metrics for customer value

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“Recurring revenue business models are not a little bit better than non-
recurring models. They are 10x better.”
– Jeff Bussgang, General Partner, Flybridge Capital
http://bostonvcblog.typepad.com/vc/2014/07/recurring-revenue-is-magic.html

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Recurring Payments Installment Payments

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Customer Lifetime Value (CLV)
CLV (simple)
Revenue per Customer * Lifespan of the Customer
CLV (complex)
Gross Margin per Customer * Discounted Retention Rate

28
Measuring outcomes – it’s about approval rates
What does an increase of 1% in
authorization approval rate mean for
your revenue?

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1M auths / month * $10 * 85% Approval Rate = $8,500,000
1M auths / month * $10 * 86% Approval Rate = $8,600,000
$100,000 / month lift
Approval rates – a hypothetical example

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What does an increment of 1% in approval rate mean
for your revenue?
$100,000 * 12 months =
$1.2M in annual revenue
Measuring outcomes – it’s about approval rates

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“1% - 2.5% churn per month is acceptable.
Higher than that, you are filling a leaky bucket.”
-- David Skok, a VC with Matrix Partners
http://www.forentrepreneurs.com/saas-business-models-slide-deck, slide 41

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Churn – The Key to Longevity
More than 2.5% churn =
a leaky bucket
Early on, new bookings
outpace churn.
4 years on, churn gets harder
to replace with bookings!

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Small Moves = Big Gains
More than 2.5% churn =
a leaky bucket
Low churn + upsell =
negative churn
Negative churn requires
consistent approval rates

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Account Updater - 2013-2016 Disruption

Payments Data and CLV
Available data and use cases

36
Payments Data That Impacts CLV
Revenue per Customer:
- Method of payment (Visa, MasterCard, wallet, direct debit)
- Card type (credit, debit, prepaid, gift card)
Lifespan / Churn Rate
- Approval rate and decline responses
- Account updater participation by the issuing bank
- Card type
- Issuing bank

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Payments Data That Impacts CLV
Gross Margin per Customer
- Account updater participation
- Method of payment
- Fraud check response data

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Account Updater Data – Take Action
• Account Number Changed and Expiration Date Changed
responses – look for “spikes” that indicate a breach or
portfolio swap
• Closed Account – these are not temporary blocks! You’re
going to need another method of payment.
• Contact Cardholder – could be temporary. Retry, resubmit
AU request, reach out to the customer

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Issuer Does Not Participate
– DO NOT IGNORE THIS
Contact high value customers immediately for a new
payment card after hard declines
Ask your processor for a list of issuers that do not
participate in account updater

40
One account update request per month is
not enough
If you receive a “no change” response, but
get a decline, keep requesting as you
recycle

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Stark Differences – Credit / Debit / Prepaid
Ask your processor to indicate for each transaction:
• Credit / Debit
• Prepaid – Reloadability, Available Balance
• Corporate / Consumer / Country of Issuing Bank

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Method of Payment – Take Action
Credit Cards:
• Type of card can indicate capacity to spend
• Visa Signature, MasterCard WorldCard have higher limits
Debit Cards:
Recycle on Fridays (payday!)
– we have seen a 3% lift in approval rate

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Method of Payment – Take Action
Prepaid Cards:
• Block non-reloadable cards for recurring and installment billing
products
• If you MUST accept prepaid cards for installment payments,
consider a wallet (PayPal or pre-authorized direct debit account)
• Don’t recycle non-reloadable cards
• Leverage partial authorizations to recoup CAC

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Decline Responses – Take Action
Response Action
Soft Declines Retry aggressively
Hard Declines Request account updates, retry
conservatively
Restricted / Lost / Stolen Card Beware of card testing
CVV Decline Remove CVV
for recurring payments

The Next Frontiers in Payments Data
Issuer Data and Wallets

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Issuers – What are they thinking?
• Track decline codes by issuer
• Don’t send “made-up” data for AVS or Expiration Dates – leave it blank!
• Monitor sudden drops in approval rate, month-over-month
• Don’t over-react to large approval rate swings over short time periods
• Does the issuer like your MCC? Compare your data to that of other
merchants in your MCC

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And what about wallets?

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And what about wallets?
• Unquestionably higher conversion
• But provisioning is key
• Do your users have an Apple Pay account? An
iPhone 6? A MasterCard or Visa?
Ask your customers, then implement!

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Trivia #3 – Global Expansion
• Which is happening in Brazil?
A. Tourists fretting about Zika
B. Olympic athletes dealing with raw sewage
C. Live impeachment hearings of President
Rousseff
D. All of the Above

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Trivia #3 – Global Expansion
D. All of the above

What every online seller
needs to know about sales
tax
Shane Ratigan
Sept 13, 2016

“We don’t want to
grow our business”
- said no successful company,
ever.

Where is your company obligated to
comply with sales tax rules?
• This is The Threshold Question for E-Commerce Sales Tax
Compliance
• Decide if what you sell is Taxable in those places only after you
learn where to look.

Businesses need to reach customers quickly
to stay competitive
• Manage inventory in new places
• Distributed warehouses
• Fulfillment by Amazon
• Drop shipping
• Affiliate Advertising
• 1099 contractors or sales people
• Installation, Support, Maintenance

More tax laws being considered
• Amazon Laws
• Economic Nexus Laws
• Streamline Sales Tax (SST)
• Marketplace Fairness Act (MFA)
• Online Simplification Act
…which can increase your tax exposure!

• Taxability
• Exemptions
• Special Rates
• Sales Tax Holidays
• Bundling
• Digital Objects, Software, Services
Now you know where you should comply, so comply!

Not to mention…
12,000
70,000
14,000

Building a best-in-class ecommerce engine
“Having Avalara in place allows us the freedom to focus
on our business, not on sales tax management or
burdensome maintenance. Having a sales tax solution
that’s automated and takes care of itself is one less
thing to worry about.”
– Adam Litvack, Ecommerce Manager

© Avalara CONFIDENTIAL & PROPRIETARY
Thank you

61
Trivia #4 – Facebook Future
• Which of these is NOT (as far as we know) a part
their strategy?
A. Acquisition of all known competitors
B. Virtual Reality
C. Augmented Reality
D. Payments sent via “Messenger”
E. Free internet access in many emerging markets
F. AI powered chatbots and digital assistants
G. Battling privacy and security concerns with consumers and
regulators in every single market they operate.

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Trivia #4 – Facebook Future
A. Acquisition of all known
competitors

Identity Verification for
Digital Commerce
Katie McGinn, Account Executive eCommerce
Whitepages Pro
Jason Cheung, Fraud Operations Manager
TireBuyer.com

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Fraud Operations
Manager
Jason Cheung
Jason is the Fraud Operations Manager at
TireBuyer.com. He has been working in the
risk space for the past 14 years, previously
working in ID theft and risk analysis for new
and existing programs and services at T-
Mobile U.S.A. He currently serves on MRC’s
Fraud Committee.

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TireBuyer.com, is part of the largest tire and
wheel wholesaler in the U.S. and Canada.
American Tire Distributors (ATD)
Tire Buyer is an online retail channel for ATD
– It leverages ATD’s 100+ distribution
centers, and thousands of locations within
their dealer network to provide tires and
wheels at competitive prices, with the
quickest delivery possible.
Many items qualify for same day delivery to
a partner dealer without any additional
shipping costs.

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Tires often cost $400+ a set, and are very
expensive consumables with an average
replacement cycle of 18-36 months.
They’re not a luxury item, for most people
they’re a life necessity.
Tire Buyer experiences many different levels of
fraud:
• Individual friendly fraud (e.g. paying for 2
tires and claiming they never arrived, etc).
• Small localized fraud groups who would
like these products for personal use.
• Large domestic fraud groups who resell
locally and regionally.
• International fraud groups attempting to
export the items to their native country
(e.g. Russia, Ukraine, Ghana, Venezuela,
Mexico, etc).
Local Economies Versus Global Product
Costs & Availability = Fraud Drivers

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Decrease in Fraud Rates
Source: CyberSource Annual Fraud Benchmark Report North American Edition 2016

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Increase in False Positives
Source: CyberSource Annual Fraud Benchmark Report North American Edition 2016

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How Whitepages Is Leveraged

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75
ONLINE ORDER PLACED
Phone Number
SUBSCRIBER
NAME
LINE TYPE
CARRIER
COUNTRY CODE
IS CONNECTED
IS VALID
IS PREPAID
GEOLOCATION
IS PROXY
DISTANCE TO
ADDRESS
IP
DISPOSABLE EMAIL
FIRST SEEN
PREFERRED NAME
VALID STATUS
IS AUTO-
GENERATED
Email
LINKED TO PHONE
LINKED TO ADRESS
LINKED TO EMAIL
FAKE OR
CELEBRITY
Name
PHYSICAL LOCATION
USAGE TYPE
RECEIVING EMAIL
RESIDENT NAME
DELIVERY POINT
Address
Double-Digit Reduction in Insult Rates

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Optimize the Order Review Process
Reject
Whitepages Pro API
Whitepages Pro Web

Confirm the validity of a phone number,
including carrier and line type, in every
country in the world
Global email address coverage provides
first-seen date, validity the email, and
domain creation date.
Confirm the validity of the building or unit’s
address, or the street itself, in every
country in the world.
We have worldwide IP data that provides
proxy status, geolocation, and connection
type information.
International Data for Identity Check

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IP AddressPHONE
• Valid / Invalid
• Auto-Generated Flag
• Disposable Flag
• Email-to-Name
• First Seen Date
• Domain Creation Date
• Valid / Invalid
• Line type
• Carrier
• Valid / Invalid
• Proxy Flag
• Geolocation
• Distance from Address
• Distance from Phone
• Connection type
International Data Attributes
ADDRESS EMAIL
 Mobile
 Non-fixed VOIP
 Fixed VOIP
 Landline
 Premium
 Toll-free
• Valid / Invalid
• Level of Verification

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Questions?

80
Trivia #5 – Amazon History
• Which of these were used as desks
by early amazon employees?
A. Shelves torn out of independent book stores
B. Sides of antique book boxes
C. Pizza boxes
D. Doors

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Trivia #5 – Amazon History
D. Doors

Benchmarking
Measure
KPI’s
Highlight
Issues
Identify
Opportunities
Investigat
e Options
Implemen
t
Solutions

23%
9%
49%
2%
17%20%
8%
43%
19%
9%
Digital
Goods
Subscription
Services
Physical
Goods
Services
(Excluding
Travel)
Travel Bookings
or Event Tickets
Type of Merchant MRC
10%
20%
37%
23%
10%
38%
10%
25%
5%
21%
$5M – <$25M $25M – <$100M$100M – <$1B $1B + NA
Size of Merchant MRC
MRC
49%
Non
MRC
51%
MRC vs. Non-MRC
n=9
n=9
9
Total Sample – 193
Sample Demographics

4%
7%
4%
3%
11%
11%
3%
19%
20%
39%
43%
51%
23%
67%
7%
9%
9%
11%
19%
5%
6%
7%
11%
25%
32%
52%
48%
86%
Mexico
Brazil
Japan
China
Australia
Netherlands
Russia
Italy
Spain
France
Germany
United…
Canada
United…
Mentioned as Top 5 e-Commerce Markets
2015
North
America
Europe
Asia Pacific
South /
Central
America
China Makes First Appearance in Top 10

99%
66%
49% 36% 21%
Cards Wallets Bank Transfer /
Invoice
Gift Cards
(Voucher)
Other (CoD,
Crypto, Carrier
Billing)
% of Merchants Supporting the Payment Method
4.3
5.2
3.5 2.9 2.7
Cards Wallets Bank Transfer / Invoice Gift Cards
(Voucher)
Other (CoD, Crypto, Carrier Billing)
Average Number of Payment Methods Supported
182 120 90 65 39
Payment Methods Supported 2015

20.0 19.3
12.2 9.3 13.09.7 6.3 7.8 4.9
9.9
Digital Goods Subscription Services Physical Goods Services… Travel Bookings or…
Number of Payment Types Currently Use MRC
Non MRC
14.5
1.8
7.6
1.3
Number of Payment Types Currently Use Number of Payment Types Plan to Add
Number of Payment Types
MRC
MRC Merchants Support Twice as Many Payment
Types as Non MRC Members

Bank
Transfers
Wallet
Cards
Gift Cards /
Vouchers
North America
Cards 94%
Wallets 57%
Bank Transfer 27%
Gift Cards 35%
APAC
Cards 94%
Wallets 69%
Bank Transfer 25%
Gift Cards 50%
Europe
Cards 88%
Wallets 64%
Bank Transfer 52%
Gift Cards 27%
South / Central America
Cards 94%
Wallets 50%
Bank Transfer 56%
Gift Cards 11%
While Cards are Supported Widely, Other
Methods are Popular Depending on Country

95%
59%
49%
56%
13%
33%
24%
96%
64%
42%
63%
8%
34%
31%
Webstore Mobile/Tablet
Optimized
Website
Mobile/Tablet
Application
Telephone Mail
Order Channel
Kiosk Physical Store Third-party
Marketplace
Sales Channel Supported – YOY
Overall
2014
Mobile Channel Support Has Increased

98%
69%
57% 59%
9%
36% 35%
95%
60%
27%
67%
7%
32%
26%
Webstore Mobile/Tablet
Optimized
Website
Mobile/Tablet
Application
Telephone Mail
Order Channel
Kiosk Physical Store Third-party
Marketplace
Sales Channel Supported – 2015
MRC
Non MRC
MRC Merchants Are Early Adopters

1.6
1.21.2 1.1
Number of Mobile Payment Types Currently Use Number of Modile Payment Types Plan to Add
Number of Mobile Payment Types MRC
1.7
2.3
1.3
2.1
1.3 1.0 1.0
1.5
1.0
Digital Goods Subscription Services Physical Goods Services… Travel Bookings or…
Number of Mobile Payment Types MRC
Mobile Payment Types Supported

68%
47%
57%
27%
41%
33%
22%
5%
9%
76%
56% 54%
51%
41%
38%
31%
22%
9%
3%
Mentioned in Top 5 KPI
2014
2015
77 147 54 108 65 105 31 98 47 79 38 73 25 60 6 42 10 18
Top KPIs Measured Remained Fairly
Consistent with Prior Year

90%
64% 65%
51%
36% 36%
29%
20%
10%
2%
63%
48%
44%
51%
45%
39%
33%
23%
9%
3%
Mentioned in Top 5 KPI
MRC
Non MRC
85 62 60 48 61 44 48 50 34 45 34 39 27 33 10 23 9 9
MRC Members are Focused on Sales Conversion

Site Visits
Add Items to Cart
Checkout
Enter Payment Info / Select
from Stored Payment Credentials
Complete Order66%
53% of the respondents
don’t know or don’t track.
It is critical to track these KPIs
Merchants Seem to Use Different
Definitions of
Conversion Rates as Their Results
Ranged from 1.2% to 100%
Conversion Rates
What Point in the Funnel Do You Start Measuring?

Emphasis on Cards but PayPal, ACH, and Gift Cards are Also Common
Worldwide Credit Card PayPal ACH
Country Average n Average n Average n
United States 83 110 87 50 94 20
Canada 88 57 92 22 96* 8*
*Caution – small base
Authorization Rate in the Region by Payment Type
Authorization Rate – North America

Authorization Rate in the Region by Payment Type
Worldwide
Credit Card
County / Region-Specific Cards Outside
of North America
(Carte Bleue, CartaSi, Solo, etc.) PayPal
Country Average n Average n Average n
United Kingdom 81 64 73 14 83 40
Germany 81 37 96 7 84 26
France 78 30 75 13 77 21
Spain 71* 14* 78* 11*
Italy 77* 9*
Highly Fragmented, Adopting New Methods, Bank Transfers and Invoice Payments Also Common
*Caution – small base
Authorization Rate – Europe

45%
31%
46%
72%
35%
46%
Digital
Goods
Subscription
Services
Physical
Goods
Services
(Excluding Travel)
Travel Bookings
or Event Tickets
Overall
% of Merchants Running Pre Auth –
by Merchant Type
Overall 46% Merchants run PreAuth, no difference for MRC vs. Non MRC
Yes
46%No
54%
All Merchants: Run
Pre-Authorization
Services, excluding travel (e.g., consumer finance, payment
services, business services, advertising, education,
government, charity, etc.)
Pre Authorization Usage Among Merchants

The sample is small to put a chart by merchant type but the
directional results show that Subscription Merchants retry most
number of time across all payment methods, except bank transfer.
6 5
3 3
Cards Wallet Bank Transfer Gift Card
Average Number of Times Retry Transaction – by Payment
Method
59%
35%
21% 30%
Cards Wallet Bank Transfer Gift Card
% of Merchants who Retry a Transaction – by Payment
Method
n=80 n=30 n=14 n=12
Payment Retry Practices

38%
24% 23%
11% 11% 9%
Kick Start
Internal Process
Cancel
Account / Order
Internal
Blacklisting
External Shared BlacklistingContact
Customer
Referring to
External Data…
When an Authorization Fails
Other Commentary
Lapse plan for ecomm and
customer must re-purchase
cry
▷ Typically:
– Subscription services Merchants contact customer.
– Physical goods and Travel Merchants do more Internal
collection and internal blacklisting.
Merchants Rely on Internal Processes for Recovery

▷ Note: It’s % of Merchants using 3D Secure, not how much they are using.
% of
Merchants
Using 3D
Secure
North
America
United States 18%
Canada 14%
Europe
United
Kingdom
40%
France 45%
Germany 46%
Yes
33%
No
67%
Use 3D Secure
3D Secure Is Not Widely in Use Due to Friction
Concerns

11%
8%
9%
23%
20%
22%
24%
22%
32%
43%
51%
8%
10%
13%
16%
15%
20%
29%
31%
29%
25%
35%
Non MRC
MRC
Priorities Related to Payments
e-Commerce Fraud
IT Constraints
System Enhancements and
Technical Integrations
Cost of Payment
Security (PCI DSS,
Tokenization)
Business Growth
and Expansion
Checkout Conversion
Acceptance of Alternative
Forms of Payment
Staff Management
Challenges
Data Access
Organizational
Structure
Role of Payment Management is Changing from
Cost Center to Revenue Center

Key Takeaways
MRC members more likely to
be focused on order
conversion and payment
success
Top eCommerce markets
similar to
last survey
 China, Japan, Russia and
Mexico joined the top 12
list
Merchants report supporting
11 payment types on average
 MRC merchants
14.5 types vs. 7.6 for non-
MRC
Order conversion rates of
64% to 66% do
not appear to vary
significantly by payment
method
One third of merchants
support 3D-Secure Payer
Authentication services in
one or
more countries
Top payment priorities for MRC
merchants are:
 Fraud, IT Constraints,
System changes and
integration, cost of
payment, and checkout
conversion rate

Phone
206.364.2789
Fax
206.367.1115
Merchant Risk Council
1809 7th Ave. Suite 1403
Seattle WA 98101
email
membership@merchantriskcouncil.org
Contact the MRC

107
Trivia #6 – Fraud Attacks
• According to the AFP, Which of these
fraud attacks is likely attributing a
large uptick in companies
experiencing fraud?
A. EMV implementation
B. Targeting phishing leading to wire transfer fraud
C. Check fraud

108
Trivia #6 – Fraud Attacks
B. Targeting phishing leading to wire
transfer fraud

What’s Top of Mind in Payments and Fraud for
Microsoft, Zillow, and Expedia

110
Meet the Panelists
Justin Wang Scott Engel Guilherme Grund-
Rafols
Data Scientist Director of eCommerce
Payments
Payments Product
Manager

111
Device ID
Fraud Platform
Identity
Verification
2-Factor Authentication Biometrics
Behavior
Analytics
IP Geolocation
AVS
CVV
3D Secure
Chargeback
Management Social Media
Email validation
Phone
verification
Positive/
Negative Lists
Networks

112
Getting Started!
• Intros
• Key Issues
• Mistakes
• Consumer Trends
• Privacy Issues

113
Broader Industry Trends
• Focus on Conversion
• Account Takeover
• EMV/ Chip & PIN
• Non Fraud coded chargebacks

114
Even More!
• Maximizing the Power of Data
• Consumer Engagement
• Who is Breaking New Ground?

115
Meet the Panelists
Justin Wang Scott Engel Guilherme Grund-
Rafols
Data Scientist Director of eCommerce
Payments
Payments Product
Manager

From Seattle Start-up to Global Payments
Powerhouse: The Remitly Story

118
Alex Algard
Founder & CEO, Whitepages
• Alex Algard founded Whitepages in 1997, which
has grown to become the leading provider of
contact information in North America, with a top-
40 web property, 10 top-ranking mobile apps and
over 55 million monthly users.

119
Matt Oppenheimer
Co-founder & CEO
• Matt Oppenheimer is the Co-founder and CEO of
Remitly, the largest independent digital money
transmitter in the United States, whose customers
transfer more than $1 billion annually.
• Remitly is disrupting the broken $588 billion
remittance industry with its mobile-first money
transfer service that is easy, affordable and
secure.
• To date, Remitly has raised more than $60 million
from leading venture capital firms.

Seattle Digital Identity Tour covers payments, fraud and commerce

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