MasterCard International today launched its global Gulf Cooperation Council (GCC) ‘OneSmart Club’ to help banks and other financial industry players active in the GCC market to develop new payment products and services using the latest chip technology.
The Club, which has already been successfully operating in other regions around the world, was launched at a day long inaugural event at the Park Hyatt hotel in Dubai where more than 50 delegates from the United Arab Emirates, Saudi Arabia, Kuwait, Bahrain, Qatar and Oman were present.
Speakers included Mr. Dave Taylor from Barclaycard in the UK and Mrs. Ina Stander from South African bank, Capitec, both of whom recently launched added-value EMV chip-based projects. Representatives from more that 15 other companies attended to demonstrate their commitment and support to MasterCard OneSmart™ value added solutions.
The GCC OneSmart Club is designed to help MasterCard's bank customers leverage the fast growing EMV chip infrastructure through the deployment of added-value chip business propositions. The GCC OneSmart Club will initially focus on five such propositions:
• OneSmart MasterCard Pre-Authorised – featuring MasterCard M/Chip™ Pre-Authorised Payment (MPA). A new chip-based payment solution suitable for new markets and off-line payment environments.
• OneSmart MasterCard Authentication – featuring MasterCard’s Chip Authentications Program™ (CAP). A program which ensures a higher level of security for online shopping and remote banking.
• OneSmart MasterCard Web - featuring MasterCard Open Data Storage™ (MODS) and MasterCard’s Chip Authentications Program (CAP). This package allows cardholders to securely store and manage a wide range of personal data (such as names, addresses, URLs, log-on passwords) on a smart chip.
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• OneSmart MasterCard Retail - featuring MasterCard Open Data Storage (MODS). A platform for loyalty applications and enhanced interactions at the point of sale based on customer preferences.
• OneSmart MasterCard PayPass™ - featuring MasterCard’s PayPass contactless payment solution. A ‘tap and go’ solution that combines the chip security with the convenience and speed of contactless payment.
"The new EMV chip infrastructure is rapidly developing across the Middle East," said Joseph Khanashat, Vice President Operations & Technology, Middle East & North Africa MasterCard International.
"MasterCard customer banks can use the OneSmart packages to launch new chip-based products, which will differentiate their card programs and provide new levels of convenience and benefits to consumers. The time to start doing this is now,” he added.
MasterCard is rolling out OneSmart Clubs across the globe, and Clubs have already been established in markets such as Central and Eastern Europe, the Baltic States, Taiwan, New Zealand, Malaysia, Australia and Northern Europe.
"The OneSmart Club approach has already proved successful in many markets and we plan to use a similar concept in the GCC region," said Mr. Fikret Ates, Vice President, Product Management at MasterCard's Chip Centre of Excellence. "Banks benefit from both the shared learning in the Club’s forums, and the personalized support MasterCard is providing to individual banks for their pilots and projects. Each OneSmart Club has different regional objectives, but they all benefit from each other by the cross-fertilisation effects of ideas and experiences they generate in different parts of the world," added Mr Ates.
Mr. Denzil Lawson, Senior Vice President and General Manager, Middle East & North Africa, MasterCard International, was also present at the launch. “MasterCard continues to pioneer new innovations in the payments industry, which helps advance commerce globally. OneSmart solutions will help banks grow their business through improved customer acquisition and retention, and higher levels of card activation and usage.”
