Digitalising the payment ecosystem

ACN reaches out to participants of the recent Cards & Payments exhibition for insight into how the payment and banking service market is evolving

Tags: Advantech ( CorporationOMA Emirates ( Arab Emirates
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Digitalising the payment ecosystem The 2016 edition of Cards & Payments drew impressive numbers with over 10,000 attendees, 500 delegates and 300 exhibitors in attendance.
By  Alexander Sophoclis Pieri Published  July 10, 2016

Also participating at this year’s edition of the payment and banking services exhibition was NCR Corporation, a firm specialised in consumer transaction technology. Offering a wide-range of omnichannel solutions for a variety of sectors, which includes government, retail, financial and hospitality, roughly 60% of the company’s revenue stems from software and services.

“There’s no doubt that cards and electronic payments will continue to evolve and more merchants will accept payments through different forms and channels. More and more businesses will start accepting electronic payments through mobile phones and/or NFC cards,” explains Wael Elaawar, managing director, NCR Corporation, Gulf & Saudi Arabia.

“Also, because of the skimming attacks that are haunting the payment industry, we see more and more banks deploying NFC-based Tap and PIN solutions where the consumer taps the card and enters the PIN, thus eliminating the risk of the card being skimmed.”

From its stands at the exhibition, NCR showcased a number of its latest launches including offerings from its omnichannel CxBanking line, as well as novel products specifically for the Middle East and Africa markets.

This includes the NCR Customer Journey & Sales Manager Platform, a channel software based upon Qflow enterprise software, which will oversee ominchannel customer bookings, in-branch customer routing and personalised digital signage content management.

NCR also showcased its Interactive Video Teller technology, a system which allows a remote teller to take full control of the ATM peripherals. This feature can be used to override the transactions limits on regular ATMs, once the customer’s identification is authenticated.

“Although we see banks more than ever interested in deploying modern omnichannel solutions, an area that NCR is extremely well positioned, at the same time we see more focus by banks to improve their branches,” explains Elaawar.

“They realise that customers still want to walk into a branch, primarily to receive financial advice or to complete the purchase of a product… we see great interest in revamping their branch network to become more efficient and in line with the expectations of the newer generation of customers.”

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