Home Solutions ... EMV VA Applications

Worldwide, banks are heavily investing in EMV migration as one of the most efficient ways to combat card fraud and improve security of card-based transactions. However, with costs of implementing EMV averaging at 1.7 billion US dollars per country, where most of it is financed by banks, the reason for adopting EMV as a fraud cost reducing strategy no longer seems just. Moreover, research on reduction of fraud losses due to EMV implementation shows a rather large gap between the benefits and the return needed to justify the significant investment in EMV cards, terminals and infrastructure.

Taking these problems into account, Compass Plus is offering a number of unique low-cost, easy to implement EMV compliance solutions as well as multi-application card software, thereby facilitating not just reduction in fraud but also introduction of new revenue streams, development of a competitive advantage and increase in market share.

TranzWare CompLine Value-Added Application (VAA) takes a full advantage of a versatile and powerful EMV card and provides one of the best ways of offsetting the costs of EMV implementation.  Harnessing a much greater memory capacity and own processing ability of the EMV card, the solution can endow one credit/debit/electronic card with multiple other functions such as loyalty cards (or several loyalty cards), benefit receiver cards, membership cards, medical card, transport passes, access cards, personal and other ID cards and even fingerprints and many more. Introduction of value-enhanced EMV infrastructure not only relatively quickly justifies its own costs, it also delivers great benefits to bankers, merchants and cardholders, and, most importantly, sets a bank on the sure way of recovering the costs of implementing the EMV standard.

Application types

Based on many years of experience and in order to accommodate diverse customer needs, TranzWare CompLine VAA is designed to offer three types of value-added applications, each having several implementation schemes.

The first type – Comprehensive Application is an all-inclusive approach intended for full-function use and is highly customisable. The application represents an electronic purse with additional buyer and seller identification functions as well as offers various types of e-purse top-up methods. Although, in order to support this VAA type a bank is required to invest in data processing infrastructure, it offers a great independence in application functioning: the owners of this application are able to control the application performance, carry out all the required settlement and generate various reports all  by themselves.

The second type – Commercial Application is a more basic approach to VAA, incorporating limited stored information and as such, appropriate for simpler loyalty and discount system. Thus, the costs of implementing this application type are relatively small.

The third type – Identification Application was developed to allow personal identification (for example, factory worker for access to the premises, club member for access to the club, insurance policy holder for claiming, student for access to the dormitory, etc.).

Solution Benefits

Benefits for banks:

Benefits for application issuers:

For further information please download the brochure or contact us.