New ways of making payments have emerged as technological advances such as smartphones enable consumers, businesses and financial institutions to exchange information more freely and quickly. The conference brought together top industry participants, policymakers and academics for an in-depth look at consumer payment innovation and the role of public policy in an age of increasing connectedness. Among the questions addressed included: 

• Is increasing connectedness likely to revolutionize consumer payments?
• Will insufficient competition or a lack of market standards hold back innovation?
• What new risks and privacy concerns are created by payment innovation?
• Will new products such as mobile payments increase access of the underbanked to the payment system?
• What changes in the clearing and settlement of consumer payments would facilitate innovation?