The operational benefits of accepting Chip cards are really just the beginning. Chip migration is growing around the world, and as more merchants accept Chip cards, even more opportunities will be available. In addition, you can now enjoy a wide range of optional added-value features that Chip technology provides. MasterCard® has developed many of these applications as OneSMART® packages to make it as easy as possible for you to start enjoying their benefits and the new opportunities they open up.
Self-service terminals
With Chip cards, verifying cardholder identity can be done entirely offline, and in some environments no sales assistance is required. This applies to many new acceptance environments such as vending machines, parking meters and petrol pumps. Some merchants are installing self-service kiosks that allow customers to read the information stored on their cards and take advantage of personalised marketing offers.
Loyalty programs and customer preferences
With OneSMART MasterCard Retail, merchants can use Chip technology to support sophisticated loyalty programs and store information on customer preferences. Chip-based loyalty programs enable instant collection and redemption of loyalty points at the POS, in real time. They reduce the processing of vouchers and other paper. They can be used across multiple merchants and provide opportunities for cross-marketing.
In addition to loyalty points, you can use cardholder preferences and other personal data stored on the card to deliver a highly personalised experience at the POS, all as part of a single payment transaction.
OneSMART Retail uses an application called MasterCard Open Data Storage (MODS) to store information on a card securely and in a standard, highly secure way.
Contactless payment
OneSMART MasterCard PayPass™ combines Chip technology with a new generation of terminals that can read cards contactlessly to speed up purchases and output. Cardholders can complete their purchases with a simple tap of their card. This type of payment is best suited to environments with a high volume of low-value payments where customer convenience is key. These include quick service restaurants, cinemas, public transport systems and convenience stores.
Secure online shopping
MasterCard SecureCode™ and OneSMART Authentication offers merchants and consumers superior protection from online fraud.
With MasterCard SecureCode, cardholders receive a secret code ("SecureCode") from their card issuer. Merchants register with their acquirer and modify their website checkout page to accept the MasterCard SecureCode. At the checkout page, online shoppers enter their MasterCard SecureCode when prompted, which enables them to uniquely identify themselves. This turns a card-not-present transaction into a card-present transaction and gives a payment guarantee to the merchant.
OneSMART Authentication extends the security capability of MasterCard SecureCode even further. In this case, cardholders receive a simple, hand-held card reader for use at home. When prompted, they insert their Chip card into the reader, enter their PIN, and the reader displays a one-time password, which they use on the checkout page of the merchant registered with MasterCard SecureCode. This solution can also be used to secure mail and telephone order transactions.