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WHITE PAPERS

PIN by SMS - A White Paper by SPA - December 2011

Smart payment association - article blog

 

In stark contrast to today’s ultra-connected online lifestyles, the primary method for distributing credit and debit card PIN codes to cardholders remains the postal service. It is slow, outdated, with inherent security weaknesses.

 

There is, however, an opportunity to change all this.

 

  pdf 12-11-06 WP PIN by SM Distribution Final Copie.pdf (788 KB)  

 

 

As detailed in this paper, PIN by SMS distribution offers the opportunity for card issuers to get PINs into the hands of their consumers faster, more cost effectively and more securely than ever before.

 

Today’s consumers will not wait. They can access their bank accounts online, download apps wherever and whenever they are, and manage their lives on the move. Having to wait 2 to 3 days for a PIN to come through the mail is something of an anachronism in the digital world.

 

PIN by SMS offers a wholly customer-centric solution to this problem – increasing loyalty and enabling an instant response to customer requests.

 

From a balance sheet perspective, getting the PIN to the cardholder with the minimum of delay increases the speed of card activations, and eliminates revenue leakage of unused and dormant cards. Models within the paper suggest issuers are able to gain additional revenues of up to and above 750,000 USD annually.

 

Security is also enhanced. SMS adds a crucial secondary distribution channel to the card issuance process – eliminating the risk of PIN theft.

 

And then there’s the high cost of conventional distribution – from the environmental wastage of paper-based PIN mailers, through to the financial burden of postal charges.

 

The technology is available and opportunities are immense. It is time to take PIN distribution into the digital age. This paper delivers all the information you need to make the smart choice.

 

 

  pdf 12-11-06 WP PIN by SM Distribution Final Copie.pdf (788 KB)  

 

 

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CONTACT
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Company responsible as defined by the Press Law, Supplier of Services and Systems in the Media and Telecommunications sector:

Smart Payment Association e.V. PO Box 800729, D-81607 Munich, Germany

 

Management Board:
Andreas Strobel, Sylvie Gilbert, Mikhaïl Gordeev, Alen Lopez, Julien Drouet

 

Commercial Register:
Amtsgericht Munich VR 1898

 

VAT Registration Number:
DE262904711