Today, the conversion of checks to electronic payments, as well as the technical integration of electronic networks and systems, requires providers and users to adopt a more strategic approach to managing products, infrastructure, and risk across traditional payments silos.
They need to consider not only the financial and business cases for adopting a particular payments strategy but also how the risks associated with the strategy will be managed. The payments industry has been actively discussing this issue, and I expect that the industry will develop effective and comprehensive risk-management approaches.