Chip, PIN, EMV, Management consulting, C
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Chip, PIN, EMV, Management consulting, C
C
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Arkansas First
bank
Northern bank
Lloyds bank
Hong Kong
Management Consulting to the Financial SectorCompany ProfileCC Consultants was created in 1998 to provide specialist management consulting to the payment industry. Our areas of expertise relate to market change, the influence of new technology on you and your customers, and the strategies you need to remain competitive. These activities are best categorised as ‘change management’ where a new technology, product or service dictates a change within the client organisation or affects the existing operation in some way. CC Consultants can provide knowledge-based deliverables to make the transition effective and ultimately more profitable for the organisation. Typical areas where we have provided deliverables include:
Organizations
benefit from using an external consultant for such services since there are no
continuing costs after the change has been implemented. Previous experience and
an independent and impartial position gained from being outside the
organization usually results in a faster project completion. CC
Consultants is competent to undertake any project that falls under the above
definition. However previous recent experience in key areas within the payment
industry may enhance the proposition of using our services. Some illustrations
are shown on the left and in subsequent pages. Core Competences
1. Chipcards and EMV From initial conception in 1987 until today’s implementation of EMV, CC Consultants has been involved with the development of this new generation of payment cards. Active on the ISO working groups that preceded the EMV standard, we are familiar with the technicalities of chipcards. We have managed the application development of projects involving chip for payment (including UKIS), loyalty and electronic purse like SEMP in Spain. We have assisted suppliers in understanding the complexities of EMV and the process of compliance testing with EMVCO, Visa and MasterCard. We have assisted Issuers and Acquirers in understanding both the technology and the business application and have provided independent advice to the financial community. CC Consultants has been registered under the Visa Chip Migration Partner program in the Visa CEMEA region. 2. Contactless Cards & NFC CC Consultants has been working with ViVOtech from the beginning of contactless experimentation with MasterCard & Visa. This commenced with technical trials using MasterCard PayPass and Visa PayWave and continued with business development activities initiating commercial rollouts in Europe Middle East and Africa. Beyond plastic contactless cards, this activity has now developed into the use of Near Field Communications (NFC) and the development of the mobile phone handset to make physical payments. CC Consultants has been involved with the emerging standards needed to allow this to develop and the new business relationships which will need to exist in the future to ensure interoperability. 3. Mobile Commerce Wireless technology provides new areas of opportunity for the card payments industry both from the mobility of cardholders and virtual payment to mobility of retailers and portable payment. CC Consultants has gained experience in both areas initially in the late 90’s with the first GSM merchant solution using the SMS service, which was conducted in South Africa by First National Bank and sponsored by Visa International. More recently, with the contactless and NFC business development activities of ViVOtech, CC Consultants has been involved in the development of OTA standards for the secure provision of card data to secure areas within mobile handsets for use in electronic wallets. 4. Fraud & Risk Management With payment fraud rising across the globe, CC Consultants has assisted the card associations by modelling fraud patterns and providing future fraud projections. This has validated the business case for chip and our recommendations have led to interim countermeasures for issuers and acquirers, prior to full chip migration. With the introduction of chip, issuers and acquirers will face significant operational change within their fraud management processes. From previous assignments, we have experience in this area and we are therefore qualified to assist the migration from magnetic stripe to chip technology including contactless and NFC technologies. CC Consultants has assisted several financial services organisations with the selection of fraud detection and management solutions. 5. POS, EFTPOS & Acquiring Systems Over the last ten years, the industry has re-invented the design of the point of sale for acceptance of a variety of new card products. We have seen simple magnetic stripe, contact and contactless chip and a variety of online or offline PIN strategies deployed, according to local infrastructure or cultural needs. Having more than eight years experience with the design, manufacture and distribution of point of sale equipment & systems including chip reading devices PIN pads, authorisation & data capture & terminal management systems, CC Consultants has provided consultancy to acquirers, retailers and suppliers. For an acquirer or large retailer this may be to assist the best selection, systems development, procedures and migration to chip. For a supplier, CC Consultants can provide product-marketing experience for improving existing products or entering new markets.
CC Consultants was formed in 1998 and has been successful at delivering valuable advice to blue chip international organizations on both the user-side and the supply-side. It is perhaps this mix of experience which makes us uniquely positioned to understand the full picture. As a small UK based company, we remain flexible and attentive to your needs. We have no sales force, we work through recommendation - in short - a personal service. CC Consultants holds membership with the Institute of Business Consulting (IBC) since 2002.
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