Defining the Appropriate EMV Smart Card_part2

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1、TMLoweringthetotalcostofownershipInthissection…§WhenstartinganEMVmigrationproject,onehastoconsiderthetotalcostofownershipinsteadofthecomponentprices.Althoughtheinitialinvestmentsaccountforasignificantpart,operationalcosts,risksandpossiblehiddencostsshouldnotbeneglected.§Lower

2、ingthetotalcostofownershipcanbeachievedbyrelyingonexpertadviceandmethodology,acquiringpre-integratedsolutionsfromvendorsandoutsourcingnon-coreprocesses.§Costssavingscanbesignificant.Aquicktimetomarketenablestobenefitearlierfromtheadvantagesofchipcards(decreasedfraudanddecreas

3、edtransactioncosts).Outsourcinglimitstheinvestmentsinresourcesandassetswhileenablingtobenefitfromeconomiesofscale.Cost-generatingfactorsThecostsinvolvedbyanEMVmigrationaremadeofcards,terminalsandsystemsupgrades,asdepictedonthechartbelow.Althoughtheseinvestmentsrepresentthelar

4、gestpartofthetotalcost,oneshouldnotunderestimatethepossiblehiddencostsofsuchaproject.Thetechnologycomplexityimpliestrainingcosts.Badprojectmanagement,duetoalackofexpertiseorskills,cangenerateveryimportantdelays.Wrongdecisionsmadeattheverybeginningcanhaveextremelypainfultechni

5、calorbusinessimpacts.Inordertolowerthetotalofownershipasmuchaspossible,therearefivekeyprioritiestobearinmindatallstagesoftheprojectplanninganddevelopment:1.Reductionandcontroloninvestments;2.Reductionoftheprojectcomplexity;3.Reductionofthe“timetomarket”;4.Ensuringthescalabili

6、tyandflexibilityofthesolutionsimplemented;5.Reductionoftheoperationalrisksandcosts.GemplusGoldpacGroupCo.LtdPage12of12GOLDPACBUILDINGFUXIQIANSHANZHUHAI519070PRCT+86 7568660888F+86 7568660808www.goldpac.comTMFigure1–EMVImpactsonProcessingInfrastructureMinimizingthetotalcostofo

7、wnershipThereisastrongdependencebetweenthevarioustechnologybricksimpactedbyEMVandthesmartcardtechnologyrequiresveryspecificskills.Notbeinginfullcontrolofthesetwoelementscouldcausetheprojecthiddencoststojumpveryquickly.FinancialInstitutionsshouldthereforeconsiderthetotalcostof

8、ownershipoftheirmigrationinsteadofonlyconcentratingonloweringthecomp