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Smart Payment Accessories. Design, Issuing and Best Practices

Payment accessories are expected to become popular companions to traditional plastic payment cards. For these products to become viable, however, a functional infrastructure of contactless terminals must be in place as it will not be possible to fall back on other legacy payment technologies. Compared with card-based systems, pure contactless payment accessories also require a different supply chain ecosystem and lifecycle management process to ensure accessories can be easily issued and distributed. This white paper describes how payment accessories are designed and issued. It also features best-practice examples from the market in which payment accessories are used for prepaid and credit/debit transactions. It discusses the design of payment accessories and establishes that creating a payment device requires in-depth knowledge of contactless systems, certification processes and personalization technology. But this is only half of the story. Payment devices can only provide the user experience that customers expect if they come with a well-thought-out enablement and distribution platform and additional services such as a wallet app.

• 2.37 MB
• Nov 22, 2018