Marketing & Branding

Explaining another channel to the customer is a very difficult task to undertake. This will cost additional marketing communication. Moreover, the more channels the customer can use, the more effort it will take to explain the customer how to use the new channel and how to authenticate to the additional channel.

For example: e-Commerce will be a new channel with the use of 3-D Secure. In this new scheme, the bank will have to authenticate the customer before making the payment to the Merchant.
If the customer could use the same authentication solution he already knows (One Chip One PIN for Everything) , it is likely the marketing communication costs will be lower. At the same time chances on success of adoption will be much higher.

Branding:
Each time the Customer uses one of the virtual channels, the customer will hold the brand of the bank in his hands, as the reader has colors of the bank and carries the logo of the bank.
Especially for those users who hardly visit any branch office, this branded hardware in his hands gives a physical link with the bank.
The branding becomes much more apparent than the website.

Most customers can choose from several banks they currently use. It is very likely the brand with the easiest accessibility is likely to become first choice for most or all transactions.

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