Chip,
PIN, EMV, Management consulting, CC
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Company ProfileCC Consultants provides specialist management consulting to the payment industry. Our areas of expertise relate to market change, the influence of new technology on you and your customers, and the strategies you need to remain competitive. This is best categorized as change management; where a new technology or service dictates a change within the organization or affects the existing operation in some way. CC Consultants can assist management and help manage the change in one or a number of ways:
Organizations
benefit from using an external consultant for such services since there are no
continuing costs after the change has been implemented. Previous experience and
an independent and non-judgmental position gained from being outside the
organization usually results in a faster project completion. CC
Consultants is competent to undertake any project that falls under the above
definition. However previous recent experience in key areas within the payment
industry may enhance the proposition of using our services. Some illustrations
are shown on the left and in subsequent pages. Core CompetencesFrom
initial conception in 1987 until today’s implementation of EMV, and now
contact-less, CC Consultants has been involved with the development of this
new generation of payment cards. Active on the ISO working groups that preceded
the EMV standard, we are familiar with the technicalities of chipcards. We have
managed the development of projects involving chip for payment, loyalty and
electronic purse. We have assisted suppliers in understanding the complexities
of EMV and the process of compliance testing with EMVCO, Visa and MasterCard. We
have assisted Issuers and Acquirers in understanding both the technology and the
business application and have provided independent advice to the financial
community. CC Consultants is registered under the Visa Chip Migration
Partner program. With
payment fraud rising across the globe, CC Consultants has assisted the card
associations by modelling fraud patterns and providing future fraud projections.
This has validated the business case for chip and our recommendations have led
to interim countermeasures for issuers and acquirers, prior to full chip
migration. With the introduction of chip, issuers and acquirers will face
significant operational change within their fraud management processes. From
previous assignments, we have experience in this area and we are therefore
qualified to assist issuers and acquirers to adapt their fraud management
processes when migrating to chip technology. CC Consultants has assisted
financial services organisations with the selection of fraud detection and
management solutions. The industry is poised for a major technology change at the point of sale. Over the next five years, an electronic chip reader will replace the familiar magnetic stripe based swipe reader. In many cases the industry will see the introduction of off-line PIN as an alternative to signature based transactions, which will open many opportunities for automated ticketing and unattended payment solutions. Having more than eight years experience with the design, manufacture and distribution of point of sale equipment & systems including chip reading devices PIN pads, authorisation & data capture & terminal management systems, CC Consultants has provided consultancy to acquirers, retailers and suppliers. For an acquirer or large retailer this may be to assist the best selection, systems development, procedures and migration to chip. For a supplier CC Consultants can provide product-marketing experience for improving existing products or entering new markets. Wireless technology provides new areas of opportunity for the
card payments industry. Experience gained with the first GSM payment solution
using the SMS service, which was conducted in South Africa by First National
Bank and sponsored by Visa International, allows CC Consultants to provide
advice and project assistance with similar ventures. We have delivered market
research and product marketing assistance in this area. How will the industry finally adopt standards for the secure transmission of payment over the Internet? How can card fraud be managed to make this business profitable using technology and basic best practice? What solutions should be chosen and what fraud prevention procedures should be adopted? From experience gained during the development of SET and subsequent projects with a major service provider, CC Consultants is able to put these questions into perspective for any issuer or acquirer or large retailer wishing to enter or further develop this business area.
CC Consultants was formed in 1998 and has been successful at delivering valuable advice to blue chip international organizations on both the user-side and the supply-side. It is perhaps this mix of experience which makes us uniquely positioned to understand the full picture. As a small UK based company, we remain flexible and attentive to your needs. We have no sales force, we work through recommendation - in short - a personal service. CC Consultants holds membership with the Institute of Management Consultants (IMC) since 2002.
Contact InformationTelephone: +44 (0) 1892 534 160 Fax: +44 (0) 870 460 2015 Email: info@cc-consultants.com WebMaster: web@cc-consultants.com Location: Tunbridge Wells, United Kingdom
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