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January 24, 2022 • Issue 22:01:02

Digital commerce in 2022 – Part 2

give consumers additional payment choices. The ETA
supports policies that encourage appropriate use of
these technologies and development of innovative,
consumer-friendly solutions.

• Pillar 4: Transparency: Open banking can facilitate
payments and provide consumers with robust
information and insight into their finances. ETA
supports using data to further fraud prevention,
privacy protection and efficient, innovation-friendly
IP policies.
Agile commerce

Jeremy Nicholds, CEO at Judopay, expects mobile devices
to become the dominant method of commerce in the post-
pandemic world. "Our lives are undeniably becoming
more digital, and mobile devices are fast becoming our
personal remote controls," he said. "The ongoing pandemic
is an acknowledged accelerant towards digital, and mobile
By Dale S. Laszig commerce has been a major beneficiary."

n the multilayered payments sphere, four pillars Citing security, speed and ease of use as prerequisites
have held true from early prototypes to present-day
methodologies. Part 1 of this series, published in this for mobile commerce, Nicholds noted the last few years
I magazine on Jan. 10, 2022, issue 22:01:01, addressed have seen significant changes in payments with e-wallets,
the first two pillars of digital commerce, security and intel- account-to-account payments and digital currency gaining
traction. We're likely to see even greater change going
ligence. This article shares expert perspectives on the third
and fourth pillars, agility and transparency, and their likely forward with CBDCs taking shape, hence the need to be
agile to respond and anticipate market demands, he stated.
near-term impact on next-generation digital commerce.
The Electronic Transactions Association's 2022 Legislative
and Regulatory Policy Priorities, comprising three documents
published Jan. 7, calls upon U.S. and Canadian lawmakers Contributed articles inside by:
to craft policies that support innovation as the industry Jeff Fortney .............................................................................................28
strives to make payments safe, secure, and financially
inclusive. The documents dovetail with pillars three and Ken Musante ..........................................................................................30
four and describe "innovative, dynamic, competitive and Bence Jendruszak and Tamás Kádár ..............................................31
highly regulated" initiatives as follows:
James Bradley ........................................................................................33
• Pillar 3: Agility: Cryptoassets and Central Bank
Digital Currency can potentially reshape commerce. TOC on page 3
Artificial intelligence, machine learning and smart
security combat fraud, improving access to credit and
reducing operational costs. Buy now, pay later options

Continued on page 26