Its been a whole week without a BQT announcement re a contract. I would suspect and have my money on another or 2 this week!
Here are some smartcard case studies, what will BQT announce/partner next?
Smartcard definition:
A Smartcard is defined as a multifunction payment card that can utilise either stored value or authorisation based technologies. Older technologies required the card to make contact with another payment device like credit card ‘swiping’. Newer solutions exploit Radio Frequency Identification (RFID) to allow contactless, ‘Tap & Go’, payments by radio frequency communication between the card and the reader.
Deloitte has published ‘No time for Change’, which contains more detailed information on the development of contactless payments. Please visit www.deloitte.co.uk to download the information.
Case Studies:
Oyster: www.oystercard.com
Transport for London (TfL) launched a contactless smartcard ticketing system, under the Oyster brand in 2003
Oyster is currently a closed scheme in which the cash balances stored in the e-purse are not usable for non-ticketing purchases
As at Jan 2005, there are over more than 2 million Oyster cards in use
Octopus: www.octopuscards.com
Scheme began as a contactless transit payment card with e-Purse functionality, developed rapidly into a general purpose low value, stored value payment card accepted by both transit operators and general consumer goods merchants
Approximately 10m cards in issue, accepted at 15,000 retail points including McDonalds and 7Eleven
Transit application requires cash, no tickets system, driving cash displacement
Volume and ease of use achieved in City State has density of population and merchant base
VisaWave
Visa Wave is a ‘Combi' chip card with both contact and contactless interfaces. Payment transactions can be done in contactless mode at Visa Wave terminals, and also in traditional contact mode at 22 million locations worldwide through either swiping or inserting the card into a smart card reader
Malaysia was selected for the trial roll out of the world's first Visa Wave contactless payment.
Visa has conducted extensive focus group research among consumers to test the appeal of contactless card products. The majority of consumers in the research find the concept of contactless payment appealing
Mastercard PayPass: www.paypass.com
The pilot versions of this product are using the credit card transaction functionality by passing the credit card information to a special contactless receiver attached to a standard payment terminal, card protocol standards also allow for offline terminal transactions
Standard credit card interchange is charged, MasterCard rule changes allow up to US$25.00 before merchant assumes liability
McDonalds restaurants in US have announced they will support the product and will roll-out readers
US PayPass Trials in Orlando are indicating an 18% increase in active cards and a 28% increase in weekly spending
US PayPass trials in Dallas are citing the importance of consumer device convergence, particularly with mobile phones, as a convenience factor
Dexit: www.dexit.ca
The Dexit tag is available in two forms — as a small tag to hang on your key chain or as a phone tag that attaches to your cell phone or PDA
Dexit Service is now accepted at over 350 merchants in and around downtown Toronto, including McDonald’s, Imperial Parking, Pharma Plus Drugmarts and Timothy’s. There are almost 400,000 users
An innovation delivered in conjunction with Bell Canada, TD Canada Trust, National Bank of Canada and TELUS Mobility
American Express – ExpressPay: www.americanexpress.com/expresspay
American Express is currently conducting ExpressPay pilots in Phoenix and New York. The Phoenix pilot includes participating locations at CVS, Carl's Jr.,Fry's (Kroger) supermarket, Blimpie Subs & Salads, ChevronTexaco, Dairy Queen, Cold Stone Creamery, Ritz Camera, Schlotzsky's Deli locations, and many others
Based on the pilot results, American Express has concluded that ExpressPay provides significant value for consumers and merchants. Thousands of consumers are using ExpressPay in the pilots and they have conducted hundreds of thousands of transactions. Market research with pilot participants confirmed that consumers view convenience and simplicity of use as two of the major benefits.
Important merchant benefits include reduced transaction time and increased spending relative to cash. American Express studies have shown the length of time for ExpressPay transactions is faster than both cash and traditional credit transactions. In addition, ExpressPay customers increased their average transaction size by 20% to 30% compared with their cash spending.
Additional Smartcard Contacts:
Mike Rutherford, Dexit: 001 416 703 6462 ext. 264
Oliver Steeley, Mastercard: 020 7557 6819
Guido Mangiagalli, Visa Europe: 020 7795 5413
Judy Tenzer, American Express: 00 1 212 640 0555
In this press release references to Deloitte are references to Deloitte & Touche LLP.
Deloitte & Touche LLP is the UK's fastest growing major professional services firm based in 21 UK locations, with over 10,000 staff nationwide and fee income of £1,246 million in 2003/2004. It is a member firm of Deloitte Touche Tohmatsu, a leading professional services organisation, delivering world class audit, tax, consulting and corporate finance services, with around 120,000 people in over 140 countries. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity.
Deloitte & Touche LLP is authorised and regulated by the Financial Services Authority.
Go BQT!!!!!!!!
BQT
bqt solutions limited
