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SCB Solutions, Inc. Announces Solution to Payment Card
Commoditization
Arlington, VA, 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.
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