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Channeling security
The very point of salery point of sale
The ve
Across America, restaurants are still presenting checks in
billfolds and using old POS systems that are hard to change,
Graylin noted. He recounted how massive EMV and NFC
migrations placed extra pressure on merchants, who were
already fighting for margin, forcing them to install new
systems and retrain staff—and payment cards are getting
skimmed in the physical and online worlds. Tokenization
Bridging the digital and digital wallet technology can solve these challenges,
he added.
commerce divide When people start to use a true digital wallet, they are

harnessing the power of tokenization in the physical and
By Dale S. Laszig online worlds, Graylin pointed out, adding that they can
tie that digital wallet to a set of digital interactions and
DSL Direct LLC transactions that go beyond tap and go into real-time
engagement and interaction. OV Valet, currently in beta
've interviewed breakers, "bridgers" and builders in testing, is an IoT device connected to a digital wallet that
the payments industry. Breakers rip out and replace works across all phones, channels and merchants, from
legacy technology. Bridgers create quick fixes for physical to online to in-store and on the web, he noted.
I legacy systems but disregard inherent capabilities.
Builders say, wait—this is powerful stuff if you take a "The [payments] industry gets caught up in nomenclature
closer look. Instead of popping tiles and gutting legacy and brainwashing that there is no other way," Graylin said.
systems, builders leverage existing infrastructure. "Now we're here to say there is a way, and the keys are
ubiquity, consumer experience and digital wallet. After
Will Graylin, founder and chief executive officer at OV physical commerce, online and mobile commerce, the next
Loop, suggested bridge technologies, such as NFC stickers big wave will be message commerce."
for smartphones, are based on assumptions that tech is
broken or incomplete. "I don't consider those NFC tags as Sending a message
bridge technology," Graylin said in a recent interview with Message commerce allows you to see an invoice or bill—
The Green Sheet. "You know why? Because they're a bridge without waiting and being redirected or asked to log in
to nowhere." and navigate to find a bill, Graylin explained. You simply
press a pay button, and if you have questions, you click
If bridgers thought differently about legacy systems, they'd on live chat; that combination of digital identity, payments
try to understand them and learn their language, Graylin and messaging is "what we call three-in-one commerce,"
stated. "That's the approach we've taken with OV Loop," he noted.
he said. "We designed a bridge to reduce the friction of
commerce." "We believe that's the way to reduce the friction of
Bridge to nowhere commerce, but more importantly, we look at it as a bridge,
not a bridge technology but a bridge that enables seamless
Credit cards, for example, are old technology, Graylin digital transactions that are tokenized, a bridge between
noted. "They are plastic representations that have been businesses and their customers for a better commerce
manufactured and shipped to consumers for the last three relationship," Graylin said. "That's why it's called OV Loop."
decades," he said. "They are static devices that are not
connected to a universal digital wallet." Graylin believes that good relationships begin in the spirit
of love, whether they are personal or commercial. That has
These same old cards, even those with near field always been OV Loop's guiding principle, he maintained,
communications chips that can be tapped, haven't a principle that informs how we serve our customers and
fundamentally moved to the digital era or the digital how we bridge relationships between consumers and
wallet, Graylin observed. And this simple fact became the merchants. "That has always been the bigger story," he said.
inspiration for creating OV Loop's line of universal wallets.
Building relationships
"In America today, we are the number one economy in the Graylin and other payments industry leaders joined a
world and yet, we are carrying around technology that is virtual panel discussion on Aug. 17, 2021, at the MPC
decades old," Graylin said. "We carry many of these cards, Digital Commerce Event. In Payments after Covid: The
and banks are stuck in the same mode, issuing cards that sit Changing Payments Paradigm, which I moderated, Graylin
in a leather wallet or a canvas wallet, and these cards that joined Eric Allen, CEO of LISNR; Christopher Brunner,
we all carry around are our lowest common denominator." founder and CEO at AuthVia; and David Shackleton, CEO

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