News & Views - Savantor

Card personalisation parameters

Wednesday, 01 August 2007

At a time when the UK card market is busy with issuing the second generation of chip and PIN cards as well as launching contactless and prepaid cards now may be a good time for issuers to take a step back and consider their transaction policies.  Many such strategies, particularly chip settings on Issuer Action Codes, LCOL and UCOL etc were put in place several years ago and may not have been revised since. This is probably resulting in many transactions being declined for no good reason and resulting in loss of revenue for issuers.  As well as looking to update these strategies Issuers need to look ahead to the imminent use of contactless and not too distant use of NFC and have suitable governance in place to regularly review their strategies to take best advantage of these new technologies.  Savantor were involved in a review of these strategies recently for a major UK bank resulting in considerable cost savings, so why not call us and see how we can help you realise similar savings whilst also positioning you for the future.

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