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A New Way to Pay Product Image

A New Way to Pay

  • Published: September 2005
  • 160 pages
  • Ashgate Publishing

The world’s payment infrastructure is going through a major upgrade to EMV, the smart card standard mandated by Europay, Mastercard and Visa to combat fraud. But EMV also offers significant opportunities for creating competitive advantage. UK banks are losing £400 million a year through card fraud but they are losing far more than that due to commoditization, primarily through rate wars and imminent fee reforms. Rate wars cost UK banks £1 billion a year from customers switching card companies, unable to see the difference between the cards other than the rates they offer. In addition, the threat of fee reforms is pressuring banks to reduce the transaction fees charged to merchants, which could result in a loss of revenues estimated at another £1 billion a year. Commoditization may soon be costing UK banks £2 billion a year, a problem at least five times as great as fraud.

Aneace Haddad’s A New Way to Pay is about enabling cardholders and merchants to see card payment as something exciting and different, so that they will focus on the added value that your card provides, rather than simply the cost it represents.

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The threats – commoditization and fraud
Creating competitive advantage through a richer payment experience
Creating competitive advantage through better branding
Creating competitive advantage using technology
Intelligent money – a glimpse of the future
Key factors for a profitable EMV deployment
Notes
Index.

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Hard Copy The book will be shipped to you.
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