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Autor: anton • November 27, 2010 • 561 Words (3 Pages) • 439 Views
C Co om mp pe et ti it ti iv ve e a ad dv va an nt ta ag ge e t th hr ro ou ug gh h s se er rv vi ic ce e i in nn no ov va at ti io on n
With the introduction of Ð²Ð‚?smartÐ²Ð‚™ cards and Ð²Ð‚?smartÐ²Ð‚™ terminals, Banks now have the capabilities which
use to be exploited by the largest smart-card users in the world Ð²Ð‚" the Telcos. Telcos have over the
years innovate what they can do with the Ð²Ð‚?smartÐ²Ð‚™ SIM (Subscriber Identity Module) cards ranging from
contacts information, SMS mailboxes, games and on-demand applications such as live stock quotes,
video streaming to electronic wallets, etc. to increase its subscriber spending.
Banks are now able to leverage on these features of the smartcard to have multiple applications
residing on the smart card and localized storage of information to create customized offerings or
personalized services for card holders. This allows Banks to create one-to-one marketing program,
tracks consumer spending patterns more efficiently and offer cross-selling opportunities at the point-
of-sale through the download of vouchers or promotions. At the same time, utilizing the ability to
perform off-line transactions, Banks can be more business friendly to merchants by instituting variable
floor limits so as reduce transaction time while managing credit and fraud risks, especially in fast-food
outlets where quick service turn-over is of paramount importance.
As highlighted above, with customersÐ²Ð‚™ increasing demand for greater convenience and service level, a
simple card payment transaction no longer