About Us : LaunchPAD
LaunchPAD is the industry's first complete programme to deliver an end-to-end solution for the implementation of Pre-Authorized Debit - a new offline payment method that slots into new or existing EMV infrastructures, thus offering issuing and acquiring banks new opportunities in both established and emerging markets.
Debit is now the dominant payment method in Europe, where cash was previously king. However, until now low-value payments have still needed the use of cash, as the retailer has been unable to justify taking card payment owing to the transactional costs. Pre-Authorized Debit provides the "one card vision" and enables low-value transactions to be preformed using the same card in an offline environment, at no risk to the retailer or bank.
This not only unleashes added value to existing cardholders and retailers, but provides the unbanked, (of which there are more than 2 billion people worldwide) and the high risk sector a new card payment method. In many European markets this provides issuing banks with new opportunities and again leverages the EMV investment.
By utilizing the EMV structure, Pre-Authorized Debit links with the cardholder's account and enables the cardholder to top-up monies via ATM and EFTPoS acceptance devices. The funds are then "ring fenced" ready for offline spending. Holding the funds on the card, the cardholder authenticates all payments by use of a PIN and funds are decreased at every transaction with the remaining balance detailed each time. The transaction is then held offline and processed with either the next online payment or in a batch at the end of the day.
Pre-Authorized Debit offers a number of benefits to all parties; issuers, acquires, retailers and the cardholder in the various markets; existing and emerging. These include:
- Maximize the EMV investment
- New markets - unbanked / high risk
- Operational costs are kept low
- Guaranteed method of payment
- Cash alternative - no need to carry small change
- Secure environment for retailers
- Quick and easy payment method.
The LaunchPAD programme combines the implementation expertise and best-in-class solution components of VeriFone, Mosaic Software (an S1 Company), and ID Data. Leveraging each company's expertise in the areas of payment terminals, EFT, transaction processing and smart card solutions, LaunchPAD delivers a fully integrated solution for the complete implementation of Pre-Authorised Debit banking products.
LaunchPAD's solution to the deployment of enabling technology is unique, offering the fastest and easiest route to profit from new markets. By implementing a Pre-Authorized Debit solution through LaunchPAD, banks can create significant competitive advantage worldwide.
The LaunchPAD programme is committed to increasing industry awareness and promoting the business case for Pre-Authorized Debit, and is supported and endorsed by the leading card associations.
To learn more about LaunchPad click here.