Cost Impact
Operating Costs: Up 50% reduction in communication sessions to fully process a charge.
Risk Costs: reduced by removing treasure trove of retained charge card information which leads leads to ability to reduce fees for a sustainable competitive advantage
Capital Costs: Uses the existing infrastructure.
Advanced Capabilities/New Revenue
NC3 allows new merchants who never thought of themselves as charge merchants, such as utility providers, to use NC3 to collect their fees. Organizations that don’t want to incur the fees, such as universities, can use NC3 and add the fee to the consumer’s charge. Consumers need not pay with credit, NC3 provides for secure access to consumer-defined checking, savings, MMA or other accounts capable of ACH capability.
New lines of revenue from Person-to-Person-Payments and Person-To-Merchant (passive merchants where the consumer and merchant are not together either physically or electronically including P2M, P2Mu, P2N). See Examples.
It is easier to add new merchants as they require only a smart phone with a camera and software and require no additional hardware.
New Functionality Attracts New Consumers and Benefits Merchants
The end of consumers having to tap “debit” or “credit” speeding up checkout time and other benefits shown under Examples including Drive through enhancements and Voice Command. There is more.
Low Cost – High Reward
NC3 works mostly in the existing infrastructure so implementation cost for providers is low. There is high development leverage, literally create once, use for every bank with auto-customization. There is more.
