Publications October 20th 2022

The $3 Billion PINless Routing Opportunity Explained

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.

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Martha Southall

Senior Manager, Global Advocacy Manager

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:

Is PINless the Answer Tech Companies Have Been Looking For?

Read the blog today.

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