Welcome Real-time released a white paper titled “Profiting from Enhanced EMV” which shows
how an EMV infrastructure enhanced with customer-centric features and
services can not only reduce fraud, it can also increase revenues and
market share. The white paper is based on Welcome’s unique experience
with banks migrating to EMV.
Banks worldwide are investing in EMV migration to combat fraud, but in
many cases fraud losses are lower than the investment required in cards,
terminals and infrastructure. For example, UK banks expect to invest
over Â£1 billion to upgrade their payment systems (an average of Â£26 per
card) while fraud was running at less than half that amount in 2001.
Bankers are naturally seeking ways to improve the EMV business case in
order to obtain an acceptable return on investment.
/Profiting from Enhanced EMV/ shows how some banks are using EMV with
customer-centric enhancements to significantly boost revenues and market
share without spending much more than for basic EMV.
One bank was able to acquire 1 million new cardholders in 8 months,
almost twice as many as anticipated, without substantially increasing
their advertising and marketing budgets. As the average cost to acquire
a new cardholder is often estimated at over US$120, the savings
generated on a portfolio of 1 million new cardholders can be valued in
the tens of millions of dollars.
/Profiting from Enhanced EMV/ uses financial benefits to demonstrate how
Attract new cardholders and merchants
Reduce cardholder acquisition costs
Boost market share of profitable customers
Reduce the cost of operating a rewards program
Unlock the value hiding in their EMV investment
/Profiting from Enhanced EMV/ is available on Welcome’s web site at:
Welcome is the world’s leading provider of enhanced payment software.
Financial institutions, retailers and card associations across the world
depend on Welcome’s payment software to boost their revenues with
services such as instantly awarded loyalty points, coupons, punch cards,
vouchers, tickets and cash back, all integrated within a single
convenient payment process. With over a hundred deployments involving
millions of cardholders and thousands of merchants worldwide operating
the company’s software, Welcome has proven repeatedly that its
easy-to-deploy solutions generate higher sales for its clients while
increasing their customers’ satisfaction and loyalty. Welcome is
headquartered in Aix-en-Provence, France, with offices in Phoenix,
Arizona and Singapore.