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From secure transactions to human transactions

Week 45, 2012

This year, the opening address was given by Patrick Gauthier, a veteran from the payment industry who is now Head of Operations, PayPal Retail Services. Patrick Gauthier made us rethink transactions and commerce. Of course, he knows everything that has been tried in this industry for the last decades. And we have to admit that, still, most of the world transactions are conducted in cash, then in cards: NFC, despite having been present for around ten years, has not yet met mass consumer adoption. For the last decade, NFC evolutions had been run by engineers; we established standard after standard, procedure after procedure, added implementation rules, etc. just to realize that the NFC revolution is not yet here.


Commerce is about human interaction. Commerce, or to be more specific, transactions is how people interact with other people. When consumers enter a shop, if they are able to have a personal relation with the shop, or just the brand, they are more ready to complete a transaction as they feel they’re getting recognition. NFC, and all our technology, can help us put back the human at the core of the transaction process!


Even if this demonstrates we still have a lot of ground to cover, at the same time, we can be proud of what we have achieved as an industry. Oyvind Rastad, Chairman of Eurosmart, made the audience realize that behind nice growth figures we are accustomed to, the secure transactions industry now delivers secure devices in the hands of 20 million humans every day.


Thierry Spanjaard

Chief Editor

Smart Insights