Most of European and Middle East banks view migration to the Europay, MasterCard, Visa (EMV) standard and smart (or chip) cards as at least an ongoing or high priority. While fraud is seen as the main driver for the migration to EMV, banks have been slow to migrate their systems, citing cost as the main reason for not rolling out EMV compliant cards and terminals. While banks may be alarmed at the growth in the level of card related fraud, they still have difficulty in justifying the migration costs to EMV on fraud alone.
Much of the focus has been on the cost of migration, primarily on the cost of cards and POS devices. As a result banks see EMV migration as a compliance issue rather than as an opportunity to benefit from the most radical change to the card payment infrastructure since the original introduction of the credit card. The implementation of an EMV smart card based payment infrastructure will unleash a new wave of card-based applications that will reduce operating costs and will create new business opportunities and revenue streams for banks.
A properly planned multi application smart card strategy can reduce the overall cost of implementing smart cards by allowing banks to segment their card base according to the value of the customers. In order to derive the maximum benefit from multi application smart cards, banks need to ensure that they implement the capability to manage multi application smart cards as a core part of their EMV migration strategy. Expertino can provide EMV migration consulting and allow banks to issue and manage a wide range of chip card based applications. Expertino can develop a customised application to manage multiple applications on a single smart card not only for EMV applications, but also CEPS, PKI, and Loyalty applications.
If you are interested to find out more, please contact us.
A properly planned multi application smart card strategy can reduce the overall cost of implementing smart cards by allowing banks to segment their card base according to the value of the customers. In order to derive the maximum benefit from multi application smart cards, banks need to ensure that they implement the capability to manage multi application smart cards as a core part of their EMV migration strategy. Expertino can provide EMV migration consulting and allow banks to issue and manage a wide range of chip card based applications. Expertino can develop a customised application to manage multiple applications on a single smart card not only for EMV applications, but also CEPS, PKI, and Loyalty applications.
If you are interested to find out more, please contact us.
