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The $3 Billion PINless Routing Opportunity

The Federal Reserve Clarification has created a flurry of activity in the payments industry - and certainly a lot of confusion around the 57 page document. CMSPI has analyzed the document to understand what it means for merchants and what the data says today.


CMSPI has summarized the announcement into 5 key takeaways:

1. Act Now - you’ll need data, engagement with your payments partners and a clear strategy well ahead of July 1st
2. It's Not a Silver Bullet - there are several barriers in place before enablement reaches 100%
3. Increased Complexity - digital debit transactions are completely different to card-present debit transactions, and should be treated as such
4. Customer Experience - PINless reaches beyond digital payments. It can be used to boost customer experience at checkout, if implemented correctly
5. Stay Ahead - don’t wait for the July 1st deadline!

CMSPI’s infographic on the PINless debit routing clarification explains more: 

PINless Routing Opportunity - A CMSPI Infographic