Card Services International (CSI) : CardBase 2000 Solutions : Global Situations

New ways of doing business are leading to significant changes in society. Telephone companies and major retailers, for example, are now offering financial products. Financial institutions are forming alliances with other businesses to increase the range of services available to customers.

Electronic commerce is beginning to effect major changes in the way we spend money. Traditional credit card use, paying bills over the phone, and shopping on the Internet are becoming increasingly popular ways of doing business.

New international standards, both for security and data interchange, are helping electronic commerce play a bigger role in international business. More importantly, the technology infrastructure to fuel substantial growth is already in use throughout the world.

Smart cards, handling significantly more information than traditional magnetic stripe cards, expand the range of services that can be offered to customers. For example, a smart card based reloadable "electronic purse" can be used for secure low value transactions with no need for signatures or other expensive forms of authorisation. Other applications include customer loyalty club schemes, holding social security payments and storing medical information.

Smart card technology can provide real opportunities for innovative businesses to generate new sources of income.

80% of the world's financial transactions, US$1,800 billion, are conducted in cash with no involvement by a bank or any other financial institution. This huge, hitherto untapped market is being opened up by electronic purse, bringing new customers into the banking system.

However, it is the potential for multiple use of single smart cards, which offers the most exciting opportunities. Consider the possibilities: an electronic purse, debit, payphone, customer loyalty, and Government benefits - all residing on a single smart card, bringing vast numbers of new customers within the reach of each card issuer.

CSI implements smart card schemes that take advantage of such opportunities and provide card issuers with tangible benefits including reduced costs of money handling, increased security and the ability to manage unused cash stored on these cards.

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CSI Headquarters: BIM House, Crofton Road, Dun Laoghaire, Co. Dublin, Ireland
Tel: +353-1-284 3233, or Fax +353-1-284 3220
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