Why use TCP/IP Transaction Solutions?
Employing IP technology to enable a payment device to connect to a processor host
system via internet will increase the speed of card authorization while decreasing
communication costs. It is realistic to reduce a 15 - 20 second payment transaction
times to 3 - 5 seconds.
Savings for the merchant can be realized with the elimination of costly dedicated
phone lines and faster service to their customers. Savings for the banks can be
realized by no longer requiring dialup lines and dedicated connections.
With EMV transaction becoming more and more popular in all parts of the world, users
all over the world begin to realize the longer transaction time due to the local
processing features of an EMV transaction. IP enabled technology will help to reduce
the communication time and thus compensate for the longer processing time.
IP technology will be a need and important feature for EMV payment devices.
EMV
EMV is the standard devised by Europay, MasterCard and Visa (EMV) for smartcard-based
credit and debit cards, to replace existing magnetic stripe cards. The EMV standards
were drafted with the aim of ensuring global interoperability of smart chip based
credit/debit cards and their terminals/readers. One of the prime drivers for the
migration to EMV payment cards in the many parts of the world is the reduction of
card fraud.
EMV migration is effectively mandatory and the timescale is short. A key component
of the EMV chip migration plan is the shift of liability for fraudulent transactions.
Visa and MasterCard have mandated that from January 2005 liability will automatically
shift to any non-EMV compliant party involved in a fraudulent transaction.
Is your business the weakest link?
By the mandated deadline, every financial institution, issuer and retailer - every
part of the payment network will need to change to accept EMV cards. All cards will
carry an EMV standard chip; all retailers and merchants will need to accept EMV
cards using EMV certified devices. All transaction processing platforms will need
to be upgraded for the new formats.
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For you to be ready for EMV you will need to instigate a plan to migrate to this
solution as soon as possible, this will ensure you receive the maximum benefit from
the program and protect you from the threat of increased fraud. Your aim will be
to do this with as little disruption to your business as possible.
As an institution plans the migration of its offering to include chip cards, NSI
is in a unique position to assist in this transition due to our substantial experience,
and knowledge within the industry.
As experienced CHIP migration professionals, we are very familiar with the CHIP
migration marketplace, as well as issues that must be addressed to evaluate and
manage CHIP migration plans effectively.
Our consultants have previously served multiple institutions on EMV chip card migration
projects. Altogether our consulting team composition boasts over 65 man-years in
cumulative EMV and chip card experience. We have served over 50 financial institutions
in EMV chip card migration in six continents. However, as no two clients are alike
and we are committed to providing services that are tailored to the unique needs
of any institution.
NSI is devoted exclusively to serve the banking and payment industry. As such, we
bring to our clients:
- Extensive knowledge of the EMV marketplace, including current trends and issues
of the Canadian Financial Institutions
- Hands on experience in EMV migration from many parts of the world with previous
experience from over 50 financial institutions in six continents
- Years of experience in working with plans that maximize value for the clients
We can help when:
- An institution is looking for external consultancy in order to obtain help in the
shaping of their concept of EMV migration and timeline for business and information
system transition to chip technology.
- An institution is seeking to engage an EMV consultant to assist with the assessment
of their EMV CHIP requirements, business opportunities and migration plan development.
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NSI can provide the assistance of senior consultants specialized in payment system
organization and technology.
NSI could provide support in the EMV migration:
- Providing Workshop and Technical Workshop for bank staff, in order to gain a better
understanding of the migration process as well as the smart card opportunities
- Providing consultancy services in order to define the migration path to EMV, both
issuing and acquiring systems
- Providing consultancy services in order to define the project plan for the project
- Providing project management throughout the project
- Providing technical consultancy for Issuing, ATM, and other backend services
We are confident in our ability to deliver and support superior solutions that will
best meet an institution's requirements. Furthermore, we believe NSI holds distinct advantages
over alternative solutions for the following reasons:
- Our strong experience in EMV migration solutions throughout the globe.
- Our strong working relationship with Visa, MasterCard and other banking associations,
has allowed to develop a strong sense of partnership, being consulted regarding
new card-related technical specifications, especially on advanced technologies (eg:
contactless payment, security attacks, etc.)
- Our flexibility to adapt our solution to customer requirements
NSI understands that some customer requirements are unique and must be addressed
through customization. NSI is able to leverage its vast experience and flexible
solutions to meet the needs of an institution. NSI is also willing to discuss creative
pricing models and discounted pricing based upon customer commitment.
Beyond consulting, NSI can provide significant value to an institution's future
requirements. Our compliment of innovative technology provides a host of solutions
for consideration:
- smart card management
- personalization data preparation
- online banking
- and contactless payment
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NSI CardPro is the latest in EMV card issuance solution; it consists of three main
module, Data Preparation (DP), Key management (KM), and Card Production (CP). NSI
CardPro is a composite and fully modular solution. It is designed to meet the requirements
of issuers both in terms of flexibility and mass volume and should be seen as a
key product to meet mass volume chip issuance requirements. NSI CardPro can be run
as standalone system or as an add-on to financial institution's smart card management
system (SCMS).
NSI also has a focus is in IP based POS systems with a specialty in Internet SSL
connectivity.
Our knowledge of technologies spans from card issuance to EMV terminals and transaction
services. We know what financial institutions want as issuers and as acquirers.
During the migration of magnetic stripe cards to incorporating chip cards, institutions
may face many issues and challenges. NSI have the experience and expertise to provide
consulting and assist them with the payment switch, authorization host system, terminals,
PIN Management, Key Management, Data Preparation, card issuance, and future post
issuance.
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