Innovative solutions for a cashless society

In today’s world of fast technological change, progressive dematerialisation, and globally interconnected production and financial dynamics, alternative payment methods to cash are becoming increasingly important. These include credit/debit cards and mobile devices (cell phones, tablets, etc.). Countries and transnational institutions are also taking a strategic interest. Accelerating the transition to socio-economic systems no longer founded on the use of paper money – the "cashless society" – is essential. Only then can advanced countries keep pace with the new demand for services from businesses and the public, to seize the emerging opportunities of digitalisation, and to exploit systemic benefits, like enhanced transaction security, greater transparency, and whitening the economy.

• Boosting the digital economy: A growing proportion of economic activity, currently around 6% of world GDP, is internet based. Electronic transactions alone are a major driver for growth (especially for SMEs), with an expected global turnover for 2013 of 1,000 billion dollars, 20% up year on year. Electronic payments are an enabling factor.
• Improving security: Huge sums are being invested in anti-fraud systems. Risk-mitigation tools for electronic payments have grown significantly stronger and now surpass those for traditional payments systems. And a recent report from the Italian banking association (ABI) shows that muggings are declining as a direct result of people carrying less cash.
• Mobile Wallet: HI Credits supports various payment methods, from cards – credit cards, prepaid cards and international debit cards from any issuer – to alternatives like bank transfer, direct debit, phone credit, payment accounts or electronic money. The platform’s Mobile Wallet feature brings together a range of payment methods for consumers to choose the most suitable one for the product or service that they are buying. The platform offers shared horizontal components that not only generate economies of scale by introducing additional scenarios but also enable added-value services, like loyalty and couponing. HI Credits provides specific support for the sale of digital goods and services by offering phone credit as an alternative payment method. With these features, the platform underpins the service offered by Italian mobile-telephone operators. What sets it apart is the enrichment functionality, a technology that recognises the user via their telephone number and powers a fast, simple and secure payment experience.
• Mobile POS: our latest solution for enabling new business models in the acquiring chain. Mobile POS exploits synergies between an ordinary smartphone or tablet and a PIN pad that reads payment cards and processes transactions in line with the card networks’ standards.