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Mobile payments

On the sidelines of the conference, Cairns

began by outlining that MasterCard is

concentrating its efforts on ensuring safe

mobile payments through tokenisation: “We

are very aware of cybersecurity, and we invest

in many different tools for protection. There

isn’t one big threat, but we are constantly

focused on ensuring there is secure access to

the network.

“Recently we have defined standards for

tokenisation in the digital world, standards that

are the basis for Apple Pay and that are

embedded into the Apple iPhone, as we have

specified that we do not want confidential

information moving around on the internet.

“We are focusing specifically on tokenisation

– moving that token from place to place and

having that token unlocked in specific places,

the same way it works using a card machine

in a shop. Through this mechanism, we are

trying to minimise the amount of information

that is carried across the internet from one

place to another.

“More generally, when a transaction takes

place, it is only the card number that we look

at, and that is the data that we are trying to

protect in the new world; we don’t hold any

details or move any details around other than

the card number. This protects the privacy of

the individual.

“We often know trends and government

statistics ahead of the government. If you want

to know how consumer confidence is, there are

sites that can tell you what people have been

browsing, but our data shows what was actually

bought on a macro rather than individual level.

This provides a lot of good analytical


urope is tapping into the future of payment technology as

MasterCard seeks to help the continent establish

contactless payment as the standard by 2020. In the UK,

contactless transactions rose by 150% in the latter six months of

2014, a trend that shows no signs of slowing down, whilst in

Denmark, Copenhagen legislation has been announced to allow

selected retailers to refuse cash payments. Wider afield, less than

half of transactions in Canada are now made using cash, whereas

in India, the central bank has declared it will allow ‘tap & pay’

technology using mobile phones and the State Bank of India has

announced the biggest ever contactless card rollout.

In May, the European Business Summit 2015 saw over 2,300 delegates

discuss a digital European economy and realising innovation in the mobile

technology age. Portal travelled to Brussels to attend the two-day

conference, the largest independent forum for business leaders,

academics, researchers and policy makers, which included a session

entitled ‘Innovation – How we do research to innovate in the digital era’.

Portal sat down with Ann Cairns, president for international markets at

MasterCard, following her address to delegates, where she discussed

the rise of contactless payments, the cultural differences that are

influencing the rate of uptake of such payment methods, and how the

company is looking to work with other technical innovators to realise

new developments.


H O R I Z O N 2 0 2 0 P R O J E C T S : P O R TA L



Tapping the future

Attending the European Business Summit 2015 in Brussels,


sat down

with MasterCard’s international markets president,

Ann Cairns,

who outlined

the move to contactless and mobile payments

Ann Cairns

MasterCard is working

closely with Apple to

safeguard data when

making purchases

using Apple Pay