Payment Technologies

Given the complexity of today’s world, and the advancement of newer and newer payment and security technologies, it is not easy to decide on and conceptualize a payment system for a Nation, a community, or an economic region. But it is essential for a nation’s economy to establish a trusted infrastructure with integrity in which all payment transactions can safely take place, for the nation to prosper without fradulent consequences.

Conceptualization of Payment Systems
QED’s forte is to survey the intended region/ market, and recommend the most fitting payment system in accordance to the objectives of rolling out such a payment system in the target area, that is within budget.

We provide consultancy on this very important first step and make clear implementable recommendations that will result in a successful roll-out of an appropriate payment system.

Payment System Modules
At the heart of the system there are payment switches which clear, settle and reconcile all transaction between parties within 24 hours. For less demanding and smaller requirements there are payment gateways.

Credit card EMV (Europay MasterCard Visa) programs can be implemented along with the appropriate personalization process. These programs need to be certified by Visa and MasterCard on EMV standards.

Debit card and e-cash/ e-purse cards programs are also available with varying degrees of security depending on the project the project rules.

The cards in these payment programs can be contact, contactless, or combi (contact and contactless) depending on the utilization factor and the ergonomics in different situations.

The infrastructure of the payment system can be brick and mortar using just payment terminals, or click and mortar which entails a combination of payment terminals and internet payment facilities, or click ‘n mortar plus mobile payments, involving use of your mobile phone and network.

All these need to be thought through thoroughly, with all possible pitfalls identified, before any payment system can be launched. QED provides consultancy on payment systems and security, supply of payment modules, project management of payment system roll out and payment system audit to pin-point weaknesses in payment systems.

Loyalty systems that augment a payment system; that increases the power of payment with the implementation of loyalty systems are also available through QED. These loyalty systems would address customer churn. The main objective of any Loyalty system should be to retain customers and prioritize the customers according to their dollar spend as well as their potential dollar spend.

Experience & Track Record
The QED team has been involved in the MEPS e-debit, and MEPSCASH program, the migration of magnetic stripe credit cards and ATM cards to EMV smart credit cards and smart e-debit/ e-cash cards respectively, roll out of transportation contactless Touch ‘n Go system, and the setting up of the 2 certificate authorities in Malaysia, Digicert and MSC Trustgate, as well as the roll-out of the e-commerce program by Commercedotcom, and also the roll-out of the retail fuel/ petroleum system for Esso-Mobil stations in the Asia Pacific.

QED’s team was also involved in 2 major Loyalty projects in Malaysia, the Malaysia Airlines Buy ‘n Fly and Rhythm’s I.Q Card programs.

Team members from QED also have first hand experience with Dealer Management Programs-cum-Loyalty programs as used by Toyota in Thailand.

QED’s team members were also involved in the TransJakarta transportation project for Corridors 2 and 3 in Indonesia, and the licensing of card operating systems to smart card manufacturers and mobile operators in China and the Philippines.

The team members from QED have also garnered much experience in the acquiring of merchants, re-loads business, payment infrastructure roll out (payment terminals) that can perform multi-functions like, re-loads, payment of bills, and e-ticketing.Click here to download the diagrammatic representation in power point.

For more information or enquiries, please contact kochin@qed.com.my