Payments Consulting Services

Payments Consulting Services

Card Program Review

We know it’s not always feasible for financial institutions to have full time payments experts on staff for their debit and credit card programs. Now you don’t have to. You can put our industry expertise to work for your financial institution in an affordable way with a Card Program Review project.

The BankSmart team has hands-on experience with developing and launching card program processing, products, marketing, and operations. We will work with you to review how your card products compare to your competition, perform a high-level review of the products and services offered by your EFT vendors – looking for opportunities to maximize your program’s performance, and provide you with recommendations on steps you can take to enhance and grow your portfolio.

Debit Network Interchange Evaluations

The debit and ATM card landscape has evolved tremendously over the last two decades, especially in more recent years. Other than as Regulation II dictates, it is no longer necessary to have numerous debit networks available on your cards in order to ensure widespread access for your cardholders. In today’s market that strategy simply adds layers of redundant expense.

The evolution has also introduced more complex payment schemes, in both the traditional card-present payment and online and pre-authorized payment environments. In an effort to maintain and grow market share, the networks have developed programs that aren’t always favorable to your interchange revenue stream as an issuer. More than ever, it is important to have a debit network strategy that works to first stabilize and then grow your interchange revenue stream.

As a network neutral partner, BankSmart can help you develop a smart strategy for today’s environment. Our payments experts will dig into all the details of your current network mix and cardholder activity and provide you with insights and suggestions on how you can optimize your program to produce more productive interchange revenue results.

EMV Chip Card Evaluation

Merchant compromises and rising counterfeit card fraud in the U.S. is driving momentum for adding EMV chip technology to debit and credit cards. The payments industry promises the technology will eliminate counterfeit fraud so an adoption push is on.  We believe financial institutions should make an informed decision about their EMV strategy before following industry trends.

Make a smart move and let our payments experts help you sort through this complicated subject and determine your business case for adding the technology to your debit and credit cards.

You face a multitude of issues to understand regarding the technology and how it impacts your critical payment processes, your internal operations, and cardholder behaviors. All of these issues impact your bottom line. Determining your business case for adopting EMV technology requires expert knowledge to ensure your institution’s success. We work with your team members and vendors to develop your cost benefit analysis and business case position, including:

  • Cost of adoption
  • Potential impact on fraud losses
  • Vendor capabilities and readiness
  • Best practices/streamlined implementation review
  • Benchmark Costs for Current Processing Services
  • Recommendations for rollout strategy

EMV Chip Card Implementation Project Services

Once you make the decision to add EMV to your card program, you can off-load the implementation project to BankSmart. We will manage the project on your behalf with your vendors and help you make smart decisions every step of the way.

The effectiveness of your implementation has far reaching consequences within your card program. Having specialized project leaders on your team will help ensure you develop and manage a comprehensive project plan that accounts for all your internal and external stakeholders and payment related operations and processes. It will maximize your investment in adding the EMV chip technology.

We work with your team members and vendors to develop and execute a comprehensive plan, including:

  • Strategy validation
  • Project plannning
  • Pre-launch implementation activities including testing
  • Soft launch
  • Prime-time Go Live!

EFT Vendor Renewals, Evaluations, and Contract Negotiations

BankSmart provides a complete suite of Vendor Evaluations & Pricing Negotiation services, offering assistance across the key product and processing areas within your financial institution. As with our other Vendor Evaluation and Contract Renewal services, our EFT services are focused on lessening the burden of an evaluation process for your debit and credit card lines of business and helping you save money in the process.