Sep 16

Past Event

The Future of Consumer Payments: An Initiative on Business and Public Policy Discussion



  • Martin Neil Baily

    Baily says emerging technologies will have a profound impact on consumer spending habits.

    Martin Neil Baily

  • Kenneth Chenault

    Chenault says the future of the payments industry will be characterized by innovation and competition. He adds that proposed regulatory changes must help bolster consumers'' trust.

  • David McCormick

    McCormick examines the recent developments in the financial markets and the housing sector and outlines the government''s recent actions to help stabilize and correct the marketplace.


The way consumers pay for products and services is dramatically changing, with cash and checks now accounting for less than half of all transactions and falling fast. What payment technologies lie ahead and how will they change the way our economy works?

On September 16, Brookings’s Initiative on Business and Public Policy brought together some of America’s leading experts on the evolution of electronic payments, including David H. McCormick, under secretary for international affairs at the U.S. Treasury Department, and American Express CEO Ken Chenault.

Event Audio:

Download part one event audio »
Download part two event audio »
Download part three event audio »

Event Materials:
Read the transcript of Chairman Chenault's remarks »
Read the transcript of Undersecretary McCormick's remarks »

Event Agenda

  • Introductions and Moderators

  • Keynote Address

    • Kenneth Chenault

      Chairman and CEO, American Express

  • Panel One

    • Vijay D’Silva

      Director, McKinsey & Company

    • David Evans

      Founder, Market Platform Dynamics

    • Richard Schmalensee

      Howard W. Johnson Professor of Economics and Management, Massachusetts Institute of Technology

  • Panel Two

    • Thomas Brown

      O’Melveny & Myers

    • Nicholas Economides

      Professor of Economics, New York University

    • Drazen Prelec

      Digital Equipment Corp. LFM Professor of Management, Massachusetts Institute of Technology

  • Luncheon Address

    • David H. McCormick

      Under Secretary for International Affairs, U.S. Treasury Department


September 16, 2008

8:15 AM - 2:00 PM EDT

The Brookings Institution

Falk Auditorium

1775 Massachusetts Ave., NW


For More Information

Brookings Office of Communications

(202) 797-6105