IT Week: As the new chief executive of secure payments solutions provider Secure Trading, can you explain what differentiates your firm from the crowd?

Gerald Kitchen: Two of the things that make us stand out are our passion for providing good service and our progressive attitude to new product development. Also, the performance of our technology is as good as the best in the field. Our company is not joined to a larger organisation, which is another strength. We also are not afraid to stick our head above the parapet and are a founding sponsor of Get Safe Online.

What is your opinion of the 3-D Secure initiative?

It is a starting point. 3-D Secure is an inconvenience for retailers and cardholders but we have to achieve the optimal balance between risk and inconvenience – it is a credible solution but will have to evolve.

What are the chances of a ubiquitous chip and PIN two-factor device for home banking emerging in the near future?

There are big commercial factors at play here. The stakes are so high for the suppliers that eventually someone will try to create the ubiquitous experience for the consumer. Will Visa and MasterCard really agree on commonality? I believe they will diverge more than they converge, and the best product will win out. The Barclaycard tie-up with Transport for London conflicts with MasterCard, for example. We could have a market split unless standards are agreed, but will this be achievable when commercial interests are at play?

Will the government have to intervene to get agreement?

No, it would be a flagrant disregard for commercial drivers. If it regulated and said, “This is the new standard”, then the suppliers that did not get it would have a lot to say.

Will the upcoming Faster Payments Service encourage online fraud?

Again, it is about risk and inconvenience. The improvement in consumer convenience and efficiency could also make crime faster, but that does not mean we should not take the efficiency step. Technology causes us to deal with new forms of risk. Ninety-nine percent of card transactions are legitimate but to minimise fraud we are having to put in place heavy security measures that affect everyone.

Will banks continue to explore new security solutions as a way to differentiate their services?

Yes. In South Africa, they have been doing sophisticated SMS alerts every time a transaction occurs in your account [so you can spot fraud quicker]. But our environment is moving at a different pace.