PREPAID SHOPPING CARDS
OPPORTUNITY
With high retail spending levels, increased use of “cash-alternative” products, and the increasingly high use of mobile phones for services beyond voice and data, there is a need to introduce a more convenient, safe and cost effective way to do retail shopping using the mobile channel. C-SAM provides Banks and Mobile Operators with an opportunity to wirelessly and securely distribute virtual Prepaid Shopping Cards, helping them increase differentiation, transactional revenue, and providing a value added service for their Customers or Subscribers.
C-SAM’S OFFER
C-SAM Inc. has developed a unique and patented Secure Wireless Application Platform (SWAP) to distribute prepaid shopping cards over-the-air, facilitating cash-less transactions. It enables customers and merchants to procure an authorization for a transaction in real-time. It also helps the Banks and Operators to trace customer usage patterns. C-SAM offers Banks/Operators a complete turnkey solution, which includes product, system integration, training and maintenance support. C-SAM can host the entire solution for the Bank/Operator, or alternately set it up in their domain.
SYSTEM
1
PROCESS
Both the customer and merchant will need to first register at the Wallet Service Center (WSC) website and get a Unique Identification number (UID - which could also be their mobile phone numbers) and PIN for all future transactions. Customers can securely store credit/debit/stored value card details at the WSC to facilitate the settlement process. Merchants will need C-SAM’s merchantclient application (Merchant Wallet or MW) to facilitate transactions for customers with a prepaid shopping card. • Customer makes the purchase at the merchant location • Merchant sends customer’s unique prepaid shopping card number and the amount to be debited, to the WSC through the MW • WSC server sends a message (SMS, text messaging, IVR, etc.) to the customer requesting his/her PIN. On receiving correct PIN, WSC verifies the customer/account, and debits the amount; the WSC may send this request directly to the Customer’s mobile or alternately to the MW • WSC sends a confirmation to both the merchant as well as the customer • Merchant gives the customer a paper receipt • If the customer has registered a credit/debit/bank card, he or she can directly top-up the prepaid card through the WSC, or alternately by using cash at the merchant location
MONEY FLOW
• • WSC/Host managed payment network debits Customer’s account, credits Merchant’s account and charges a transaction fee Account Host charges a fee for hosting the accounts and managing the risk
2
• • • • •
BENEFITS TO THE CUSTOMER
Convenience of not carrying cash or physical cards for retail shopping Avoid loss or theft, and associated inconvenience, of cash and plastic cards Higher level of security and opportunity to reduce misuse and fraud Faster transaction time and real-time settlement of accounts Ability to maintain an electronic record of all transactions and avail various value added services
BENEFITS TO THE MERCHANT
• • • • • • Eliminates cash handling and associated cost and risk Real-time authorization and settlement of accounts Ability to offer personalized customer promotions Higher level of security and opportunity to reduce misuse and fraud at POS Convenience will lead to higher number of transactions Opportunity for co-branding and cross-selling with other Merchants, Banks and Mobile Operators – offer new value added services
• • •
BENEFITS TO THE BANK/MOBILE OPERATOR
Convenience will lead to higher number of transactions Real-time authorization and settlement of accounts Opportunity for Operators to participate in physical world payments; Additional minutes-of-usage for Operators and transactions for Banks • Higher differentiation increases new customer acquisition and customer loyalty, and reduces churn • Opportunity for co-branding and cross-selling with other Merchants, Banks and Mobile Operators – offer new value added services
• • •
IMPLEMENTATION
Interface WSC modules with existing payment gateways and financial transaction networks Customize/Brand/Interface the web-site, server and client software modules based on requirements of the Bank/Operator (our team can put together a customized solution in 30 to 90 days) Once the server and client software modules are setup, the solution may be easily and rapidly scaled to offer other service/s: • Prepaid Airtime Top-up • Ticketing • Bill Payments • Coupon Issuance • Person-to-Person transactions • Micro-credit transactions • Money Order/Transfer • Proximity transactions • ATM/Manned • Transaction portal
For more information, please visit our website at www.c-sam.com OR Email us at info@c-sam.com OR Call us in the US at +1.630.928.0890.
3