Where are you on your digital journey to payments modernization?

FIS gives financial institutions the absolute confidence to compete in the ever-changing payments landscape and provides a complete end-to-end solution for all card processing needs.

 

Tokenization
To start you journey, implementing tokenization is critical.  Tokenization is the foundation for secure, digital payments and is the first step to enabling a mobile wallet.

Tokenization protects card data by replacing a card’s Primary Account Number (PAN) with a randomly generated sequence of numbers to be utilized through either mobile wallet purchases or payment credentials on file for recurring/subscription payments.

Not employing Tokenization as part of your financial institution’s payments strategy means that you’re not enabling a full e-commerce experience for your cardholders with the layers of protection that they deserve.

 

In the U.S. the use of mobile wallets is expected to surpass the use of both (physical) debit and credit cards by 2020.  In the U.S. the majority of people already using mobile payments are about thirty years old, make an annual income of $70,000, and spend twice as much on retail as non-users.  Extend your brand and drive volume with Apple, Google, and Samsung pay.  Encourage your cardholders to transact on your branded card, with the device of their choosing.

Bring FIS wallet capabilities into your existing digital banking experience.  Customize your digital experience by integrating digital features such as card on/off or dispute reporting, as part of your mobile banking experience.

You may purchase a ready-made stand-alone digital wallet experience.  Promote your own solution through scalable 3^rd party app partners who integrate with FIS product to life digitally.

FIS continues to advance the digital journey for financial institutions by integrating our payment processing products and solutions with FIS Code Connect, to ensure that issuers and their preferred vendors can drive loyalty & increased card usage across digital commerce channels.  FIS supports card controls; alerts; digital card issuance; a digital commerce provisioning hub, round up; apply & buy; and more.

Have you made the right upgrades to your payments platform to provide a better cardholder experience?  Otherwise let FIS help to you evaluate where you should be on your journey to payments modernization.  For more information contact Dan Collins @ dcollins@nebrul.org.