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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