Payments on Fire Episode 16, originally aired: March 24, 2015
Debit routing – once again, all the rage.
On July 1, 2023, the US Federal Reserve’s clarification on Reg II went into effect. The clarification confirms that Reg II – which required unaffiliated debit network routing as part of the Durbin Amendment – also applies to CNP environments.
What were we thinking in 2015 when debit routing at POS, contactless payments, and chip and PIN were “of the moment”? What lessons can we glean from a conversation then that apply now? We’ve pulled Episode 16 from our vault to find out.
We hope you enjoy this far-reaching discussion that moves from some EMV fundamentals to the implications of having a long tail of adoption, how consumer behavior and payment capabilities have to evolve in concert, and the reaction of fraudsters when things change in large, complex environments like the card system.
And stay tuned for our next episode where we welcome EMVCo to the show to see what they are up to these days and take a peek over the horizon.
Drawing on 24 years of experience in payments and risk management, Yvette has held many roles at Glenbrook, including facilitating Payments Boot Camp® workshops, hosting the Payments on Fire™ podcast, and developing industry-focused curricula. She is a “40 under 40” Portland Business Journal award recipient, Bank of America Inventor of the Year nominee, and the co-author of the highly anticipated “Payments Systems in the U.S. – Fourth Edition.”
Before joining Glenbrook, Yvette was the chief risk officer at eBay, a finance leader at Google, and the chief operations officer at YapStone. She has been an advisor to CapitalG and a mentor for 500 Startups. During her career, Yvette led payments strategy as a Director for Bank of America Merrill Lynch, led Global Payments Core Product Management at Amazon, and was a founder and the chief technology officer of PaylinX Corporation, which pioneered payment and fraud solutions for online merchants.