Anywhere. Anytime.
Works on any ATMWorks on any POS terminal
Works without data / wifi coverage
Works without a mobile phone
Instant remote configuration
A completely agnostic payment solution
Doesn’t require a mobile phone or any special payment apps.
All they need is you (their issuing bank)!
Interoperability.
Interoperability increases the value proposition of these payments by increasing customer convenience: it allows customers to make payments and transact more easily with others, no matter which service providers they use.
In the absence of interoperability, customers must go through complicated and sometimes inconvenient work-arounds when transacting with users of different service providers.
In the absence of interoperability, customers must go through complicated and sometimes inconvenient work-arounds when transacting with users of different service providers.
Interoperability may also bring value to providers and the financial system overall by encouraging competition and leading to improvements in the range of payment services, reducing distribution costs and enabling economies of scale that may contribute to the financial viability of the payment service.
However, developing interoperable payment systems is a complex and often contentious process, and interoperability is often absent from digital service development.
However, developing interoperable payment systems is a complex and often contentious process, and interoperability is often absent from digital service development.