With the explosion of cutting edge technologies, now is the perfect time for Banks to take a step back to holistically review and re-architect their payment infrastructure in a move to align themselves to this ‘smart’ payment landscape. But first of all, Banks need to understand the underlying trends in order to capitalize on the opportunities brought about by this changing payment landscape.

TRENDS

OPPORTUNITIES

EXAMPLES

Smart’ Cards / Applications

  • Offline transactions

    • Areas with limited line connectivity

    • Variable risk profile / floor limit (Eg. Fast-food outlets)

    • Faster transaction time

  • Multi-applications and Localized storage on cards

    • Personalized information

    • Vouchers for cross-selling at point- of-sale

 

  • New application potential

    • Combination of services

  • Personalized offerings (CRM)

    • One-to-one marketing

  • Pro-active management

    • Reduce churn

    • Increase service levels

Malaysia’s MyKAD (GMPC)

  • NRIC (National ID)

  • Driving License

  • Passport

  • Health Info

  • Toll

  • ATM / e-Purse

  • Digital Certificate (PKI)

New Channels / Devices

  • Wide Area Communications

    • GPRS / 3G

    • SMS / MMS

    • Internet / VPN

  • Local Area Communications

    • Wi-Fi (Wireless LAN)

    • RFID (Contactless)

    • Bluetooth

 

  • New market segments

    • Remote area

    • Exhibition / Convention

    • Micro-payments

  • Lower costs

    • Charging models (Data size)

    • Wireless / No cabling costs

  • New business models

NTT Docomo & Sony ‘Felica’

  • Phone card

  • Transit card

  • Prepaid card

  • ID card

Fraud migration

  • EMV

    • Protects against card skimming and cloning

    • Provides strong authentication infra structure for issuers and acquirers

  • Liability shift

    • EMV

    • 3D-Secure

  • Line Encryption

    • Protect against line-tapping, ghost terminals and host-spoofing frauds

 

  • Lower costs

    • Due to lower charge-backs

    • Liability shift

  • Greater consumer confidence

    • Enhanced with marketing program on secured infrastructure

  • New markets / offerings

    • Aggressive marketing to target ‘high-risk’ merchants, etc.

 

  • EMV infrastructure

    • EMV smart cards

    • EMV terminals

    • EMV network

    • EMV hosts

  • Line Encryption Solution

    • Encryption / Decryption

    • Authentication

    • Keys Management / Injection
   
   

 

 

 

For further information about GHL Systems and other products and solutions, please email us at int.sales@ghl.com (International) or my.sales@ghl.com (Malaysia).