European Issuers Can Thrive in a Tokenisation-Enabled Ecosystem
August 12 2015 - 9:00AM
Business Wire
TSYS (NYSE: TSS) today announced the publication of a new white
paper titled “How European Issuers Can Thrive in an Ecosystem
Defined by Tokenisation-Enabled NFC Payments.”
The white paper explains that the recent growth and rising
popularity of m-payment services and mobile wallet apps have led to
significant opportunities for the financial industry to leverage
m-payments. Consumers can benefit from the convenience and advanced
security features of m-payment technologies, while merchants and
issuers can potentially see higher-value card transactions, faster
checkout and reduced fraud.
A recent Harris Interactive study found that six out of ten
consumers believe smartphone payments will eventually replace both
payment cards and cash. Payments facilitated by mobile devices
reached €196 billion globally in 2013 (£154.10 billion), and the
study projected that they would more than triple to €604 billion
(£472.79 billion) by 2017.
“The growth prospects for m-payments are now better than ever
following recent announcements and new offerings from major players
in the tech industry,” said Richard G Brown, executive architect
for Banking Innovation, IBM. Brown co-authored this report with
TSYS.
“Another positive indicator for m-payments’ rise in Europe is
the success of existing mobile payment programs,” said John
Goodale, group executive, product and market development, TSYS
International. “The proliferation of alternative payment services
in Europe in recent years suggests a growing consumer interest in
and demand for such alternatives.”
This report looks at the current state of in-store m-payments in
the U.K. and other key European markets, and how certain important
market factors — such as enhanced security — can propel m-payment
adoption. It also explores the burgeoning opportunity for in-app
mobile commerce.
The report highlights key actions European card issuers can take
now to gain a competitive advantage with regard to m-payments.
Issuers are encouraged to determine their m-wallet strategy —
whether to build their own or support other pre-existing offerings
and then developing “top-of-wallet” strategies. In many instances,
the short-term answer will be to do both.
The report is available on-line at:
http://www.tsys.com/Tokenisation.
About TSYS
At TSYS® (NYSE: TSS), we believe payments should revolve around
people, not the other way around. We call this belief
People-Centered Payments®. By putting people at the center of every
decision we make, TSYS supports financial institutions, businesses
and governments in more than 80 countries. Through NetSpend®, A
TSYS Company, we empower consumers with the convenience, security,
and freedom to be self-banked. TSYS offers issuer services and
merchant payment acceptance for credit, debit, prepaid, healthcare
and business solutions.
TSYS’ headquarters are located in Columbus, Ga., U.S.A., with
local offices spread across the Americas, EMEA and Asia-Pacific.
TSYS is a member of The Civic 50 and was named one of the 2015
World's Most Ethical Companies by Ethisphere magazine. TSYS
routinely posts all important information on its website. For more,
visit us at www.tsys.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150812005666/en/
TSYS Media RelationsCyle Mims,
+1-706-644-3110cylemims@tsys.comorTSYS InternationalVictoria Winn,
+44.1904.562.577victoriawinn@tsys.com
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