2012 MRC Annual eCommerce Payments and Risk Conference

Director of Payments, Business Development, Product Managers

Basic - An introduction to the topic. For attendees new to the industry.
Intermediate - The next step beyond the basics. For attendees with some industry experience.

Linden Dollars. World of Warcraft Gold. Facebook Credits. These names represent just some of the virtual currencies that exist today, though not all consumers would recognize them, let alone understand how to acquire them. The world of virtual currencies, and the even more nascent universe of social network payments, is one that is tantalizing to many merchants, appearing to offer the potential of new customer bases and the power of social networks. Further, they are a potential threat to the entrenched payment brands such as MasterCard and Visa.

Nevertheless, most of these currencies are still relatively young, and important questions remain as to how they will develop and what they will grow into. For instance, many early virtual currencies existed only within a particular game or a particular virtual world. Now, social networks and gaming systems are deploying their own currencies to leverage the power of their platform. What is the next evolution of these currencies?

This presentation will share the latest trends and developments in social network payments and virtual currencies, including profiles of some of the most popular virtual currencies, some of the latest news, and perspectives on where these currencies may be headed. Additionally, we will discuss some of the issues that merchants will need to consider prior to accepting these virtual currencies, including cost of payment and fraud risk. Finally, we will also discuss potential competitive reactions to these emerging payment methods.

1. Historical perspective on the evolution of virtual currencies.
2. Overview of current state of virtual currencies and social network payments, and how merchants might consider responding to this trend.
3. Perspective on where virtual currencies and social network payments may head in the future.
4. Understanding of the questions businesses should ask when considering whether to accept social payments.