SCB Solutions, Inc. Announces Solution to Payment Card Commoditization
Banks’ control over electronic payments is under attack. Banks are losing contact with their customers and are relegated to differentiating themselves by pricing. SCB Solutions can help them leverage their untapped resources.
Arlington, VA (PRWEB) August 9, 2005 -– Banks’ control over electronic
payments is under attack. Much of the industry power historically held by
established banks is shifting into the hands of processors and merchant
associations. Banks are losing contact with their customers and are relegated to
differentiating themselves by pricing. SCB Solutions can help them leverage
their untapped resources.
Financial institutions and payment associations
such as Visa and MasterCard are spending billions of dollars on infrastructures
that are mainly used to fight fraud or prevent misuse of cards. At the time of a
payment transaction, a link is established between the cardholder and the
issuing bank, but currently this sophisticated link is only used to communicate
transaction approval to the cardholder. “What a waste in a market where payments
cards are seen more and more as commodity items. Our solutions leverage the
underused IT investment to establish a richer link at the time of the
transaction,” said Ronan Lapie, President of SCB Solutions.
The channel
of communication between the issuer and the point of sales terminal offers a
variety of new options. For example, a bank could use the solution to provide
instant cash-back, rather than waiting till the end of the month or the end of
the year. Or, the customers could redeem their miles on regular transactions.
And those are just enhancements to current payment schemes. In addition, this
new communication channel in the hands of marketing people will likely spark the
development of new concepts.
“SCB Solutions has always promoted products
that combine high security on the one hand and a better and richer experience
for the end-users on the other hand. We are now just applying those concepts to
the banking world,” added Lapie.
About SCB Solutions, Inc.
SCB
Solutions, Inc. is a provider of smart card, identity and secured transaction
technologies. The company portfolio includes integrated smart card applications
and products for the enterprise, government and banking markets. SCB Solutions
allows its customers to enhance and secure their digital world and provide an
easier and richer experience to the end-users. SCB Solutions' offerings include
SCB Access™ logical access, secure logon, and single sign-on applications, and
Sm@rtSite™, an integrated multi-application smart card system with modules for
card management, identification, payment services, security and loyalty. The SCB
Solutions consulting practice is designed to provide strategic, technological
and logistical support to organizations considering new identification,
authentication and advanced payment. For more information on SCB Solutions,
Inc., visit www.scbsolutions.com. For more information on Advanced
Payment, visit http://www.scbsolutions.com/welcome.htm.
Contact:
Ronan
Lapie
703-465-9491
e-mail protected from spam bots
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Source : http://www.prweb.com/releases/2005/8/prweb270425.htm