Chip,
PIN, EMV, Management consulting, CC
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As a Payment System, your organization may be interested to use the services of CC Consultants:
Example
1: Fraud Management & chip
The card industry is facing a major increase in fraud in recent years. The majority of this fraud increase has been seen in counterfeit activity, where magnetic stripe based cards are copied or ‘skimmed’. The industry has embraced a strategy to reduce these losses, using chip technology. An integrated circuit is embedded in the plastic card providing a mechanism for authenticating the card when challenged by a suitable reader device. This technique also provides capability for offline cardholder verification using a PIN, and offline approval using on-chip spending limits. A common standard, known as EMV, has been developed by three of the card schemes to facilitate interoperability. Although this strategy will ultimately reduce fraud, it's success is dependant on the mass issuance of chip-cards & the replacement or upgrade of existing POS devices to accept the new chip - a costly and time consuming process. During this time fraud will continue to grow. The payments systems have a significant role to play to protect card issuers from becoming the target of this predominantly magnetic stripe fraud. Because of previous experience in this field of expertise, CC Consultants can offer services to assist. This may for example include: - Fraud projection scenarios (optimistic & pessimistic approach) - Risk analysis by country or issuer, considering; a) Local and International chip migration plans b) Acceleration of these plans and c) the cost effectiveness of this approach. - Review the possibility of additional countermeasures, and the likely benefit to the industry. With previous experience assisting the industry, CC Consultants can quickly model your specific environment and provide management & operational recommendations to reduce the exposure. We would welcome the opportunity to discuss your particular needs. Please complete the following request form to receive an immediate response.
Example 2: Wireless Solutions in Emerging countries
CapabilitiesCC Consultants can offer valuable experience with this technology from the first SMS based pilot in South Africa with First National bank and sponsored by Visa International. We can assess the local needs, develop a system solution and business plan taking into account the opportunities and risks. With this knowledge you will be able to make a qualified decision towards implementation, resulting in the most cost-effective wireless solution. Key Benefits
Imagine how cost-effective this solution would be for opening up new emerging markets! Gain acceptance for international cards immediately, allowing a local bank to concentrate on Issuance only, until they are ready and competent to concentrate on Acquisition. Would like to know more? Please complete the form below:
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Send mail to web@cc-consultants.com with
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The
latest GSM wireless solutions are available in even the most remote parts of the
world, and we often see the availability of these networks ahead of wired
services: one base station can provide instant access to 1000's of users without
the need for cable laying and installation at the end-point. The concentration
of these services neatly maps with consumer activity a fact that is very
interesting for the payments industry. Where there is consumer demand there will
always be a need for payment, and with this infrastructure available, an ideal
opportunity to promote electronic payment using plastic cards. The single GSM
standard allows one homogeneous wireless product to be used worldwide, promising
reduced costs. The encrypted channel provides fast, reliable and secure
transmission of transaction data, reducing the possibility of fraud from paper
or faxed based processing. With roaming capability it is even possible to
achieve cross border acquisition with minimal IT presence in-country, as shown
above. Here the Short Message Service (SMS is a service included within GSM,
normally associated with voicemail) is depicted as a way of reducing service
costs, although the normal voice channel can be used particularly in domestic
environments, where lower tariffs can be negotiated with the local service
provider.