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What if…
…paying for e-Commerce would be as easy, secure and inexpensive as using contactless cards at point of sale?
Presentation for CeBIH
Risto Savolainen
Founder CEO, iAxept Ltd
THE PROBLEM: ‘CARD NOT PRESENT’ E-COMMERCE PAYMENTS
Consumers experience: Merchants experience:
Awkward and slow Expensive transaction fees
Fear of stolen card info Massive fraud losses
Last second drop-outs Lost revenue due to drop-outs
THE OPPOSITE EXPERIENCE: CONTACTLESS CARD PAYMENT AT A POINT OF SALE
Consumers experience: Merchants experience:
Easy to use and quick Low transaction fee
Very secure No fraud losses
New favourite method New favourite method
EMV resolves many of the fraud issues at a point of sale,
but it fails to secure e-Commerce payments.
As a result, online fraud is increasing.
Online merchants are liable for Card Not Present fraud losses
when consumers pay with EMV cards.
Is EMV a solution and a problem at the same time?
We think it is a solution and a solution.
iAxept eliminates the Card Not Present fraud
using Contactless EMV cards.
iAxept Remote POS
App on the consumer phone’s SIM is
remotely configured to act as
the online merchant’s contactless EMV POS terminal.*
* Acquirer controlled Unattended Cardholder Activated Terminal running on the UICC/SE
TYPE YOUR MOBILE NUMBER ONTHE MERCHANT’S PAYMENT PAGE
(and even that will be pre-filledif you have used it before.)
TAP A CONTACTLESS CARD ON THE BACK OF THE PHONE TO PAY
All payments will be authorised online by the issuer bank and a pdf receipt will be stored on the phone.
IT COULD NOT BE EASIER FOR THE CONSUMERS
15 SEC DEMO VIDEO
No investment required by the online merchants.
Lower ‘Card Present’ payment processing fees,
no CNP fraud losses and increased conversion rate
leads to increased profits.
Acquirer/PSP stays in charge with online merchants.
Lower transaction cost enables increased profit per transaction and
revenue share with iAxept Remote POS value chain.
Card issuers will keep 100% of the interchange fee for themselves.
Online authorization enables issuers with real-time risk management.
MNOs and SIM vendors earn transaction-based revenue share
on the acquiring side of the value chain.
They distribute the iAxept Remote POS software to the consumers’
smart phones and secure UICC/SIM cards.
iAxept connects to a standard POS terminal interface and a payment gateway plug-in.
Factory installation of iAxept software on SIM cards and 30+% SIM replacement rate builds the critical
mass of users in less than 12 months.
iAXEPT CONNECTS CONSUMERS AND ONLINE MERCHANTS SECURELY WITH A MINIMUM NUMBER OF NEW CONTRACTS
Consumers
Mobile Network Service
Providers
PSP/ Acquirer
PSP/ Acquirer
PSP/ AcquirerOnline
Merchants
THE ANCIENT BUSINESS MODEL CONFLICT IS RESOLVED:EVERYONE EARNS TRANSACTION-BASED REVENUE
Consumers
Network feeCard IssuersInterchange fee
Payment Acquirersprocessing fee and MSC revenue share
Online MerchantsLower MSC and
no CNP fraud lossesRemote purchase over any channel
Remote POS
iAxept, Card vendors and Mobile Carriers
MSC revenue share
iAxept is a BRANDLESS payment method used with branded cards
iAxept enables contactless EMV cards for e-Commerce
VERY EASY, SECURE AND INEXPENSIVE
Risto Savolainen
