Consumers
Merchants
Issuers and Acquirers
Proven Technology

Consumers

Convenience and Utility

• Ubiquity - wide acceptance due to the fees acceptable to the merchants
• Fast transaction processing - offline, no PIN
• Reliable - never fails to make a payment with automatic reload authorized by PIN
• Maintenance free - no trips to ATM or loading station
• Statements not cluttered with small purchases but there is online access to transaction details
• Minimal risk if the card is lost
• No additional card

Merchants

Speed

• Off-line transactions, no PIN
• No fumbling for change
  

Reduced Costs/Hassle

• Transaction fees lower than debit and credit
• Reduced cash handling costs (bank fees, pilfering, mistakes, etc.)
• Security (less cash in the till and less cash to deposit at the bank)
  

Increased Sales

• Reduced loss of sales due to consumer not having enough cash
• Reduced loss of impulse purchases
• Use of cards instead of cash => higher average purchase amount

Consumer Preference/Demand

Issuers and Acquirers

• New profitable revenues for both issuers and acquirers
• New market segments
• Response to competitive threat
• Leverages existing infrastructure
• Improves EMV business case
• Better proposition to cardholders yields enhanced relationship and increased card usage
• Faster transaction processing and lower fees drive merchant interest
• Easy deployment - leverages existing infrastructure
• Safe secure and proven
• Reduced cash management costs

Proven Technology

The Cardis product has been implemented and tested by Scotiabank in Canada, as part of their EMV project. Scotiabank included the Cardis application on their multi-application Visa credit card, and a successful field trial was completed in November 2004. The Cardis product is commercially available and is being actively marketed in Canada and several European markets.