Why An Open Bankcard Processing Environment Is Needed - Ingenico Elite 510 Supplementary Manual

W
HY AN OPEN BANKCARD
PROCESSING ENVIRONMENT
IS NEEDED
• An open bankcard processing environment
is built upon open systems and industry
standard components, allowing it to be
upgraded and enhanced without concern for
proprietary and legacy elements. This also
reduces the operational and investment costs
for those providing network services.
• An open bankcard processing environment
positions financial institutions and processors
for today's and tomorrow's payments, making
it much easier to implement emerging
tender types.
• An open bankcard processing environment
allows the user to quickly introduce new
services and products or to quickly enhance
existing ones with new features.
• An open bankcard processing environment
positions financial institutions and processors
to seamlessly support multiple vendor
terminals.
• An open bankcard processing environment
allows manufacturers to quickly adapt
technology that has been proven in other
industries.
• An open bankcard processing environment
is simpler to implement, operate and support
than a proprietary network.
• Industry standard technologies lower a
manufacturer's cost of bringing product to
market while ensuring the ability to upgrade
their systems later as new features are made
available.
4. INGENICO
• Industry standard technologies and open
development platforms enable processors,
financial institutions and ISOs to apply EFT POS
solutions to other markets that have similar
needs, thus opening new markets and revenue
opportunities.
• An open bankcard processing environment
provides ISOs, processor and financial
institutions with the ability to differentiate
themselves by leveraging industry standard
development systems and tools to enhance
their systems and services.
Open Platforms
Open Platforms is a committee that is part of
GlobalPlatforms and STIP consortiums. The group's charter is
to develop standards for applications that are interoperatable
between EFT POS terminals, cell phones, PDA, vending machine
card readers and any other device in which a transaction occurs.
Ingenico chairs this committee.