Campus ID News
Card, mobile credential, payment and security
FEATURED
PARTNERS

New payment technologies are coming to campus: Be prepared and be smart

Chris Corum   ||   Mar 30, 2005  ||   , , , ,


You need not look far to find articles and pundits proclaiming a coming revolution in the way people pay for goods and services. And you need not look far from your campus to see examples of this new wave:

  • American Express, MasterCard, and Visa cards with embedded contactless chips that transmit payment data to the point of sale (POS) device via radio waves
  • Peer-to-peer payment methods such as Paypal move money over the Internet between total strangers and best friends alike
  • Products like Speedpass, Dexit, and PowerPay offer keychains that transmit data to gas station pumps and POS devices
  • Biometric-enabled POS devices let customers pay for groceries using a fingerprint and personal identification number
  • Cellphone payments are made using embedded chips running the Near Field Communications (NFC) protocol

What do each of these services have in common? They are each, in their own way, an attempt by a company to convince consumers to choose their payment tool over another. It is the competition for the “front of wallet” position, a term used in the payment industry to describe the idea that the payment card in the front gets used most often and generates the most revenue for the issuer.

Card issuers have competed for “front of wallet” position using a number of strategies over the years: reward programs (e.g. cash back, airline miles, gifts), affinity relationships (e.g. sports teams, associations, universities), and price (e.g. interest rates, fees, balance transfers).

The current battleground of choice seems to be technology. If a card issuer can differentiate an offering with a new technology, such as contactless “tap and go” payment capability, the potential to win new customers and retain existing customers grows. Similarly, if a grocery store chain can convince customers that paying with a fingerprint is more convenient or has some other associated benefit, the chance to build loyalty to the store increases.

What does this mean to a campus card program?

First, be on the lookout. New payment technologies are certain to come to campus. Through the good work of campus programs across the country, our campuses have become known as a fertile testbed for new card and payment-related offerings.

Next, it should remind us of the value and power that our institutions possess because of the relationship we maintain with our students, staff, alumni, and surrounding communities. We can facilitate access to these populations or impede it. We can issue payment devices based solely on the strong, lifelong affinity relationships that grow between students and our institutions. And we create a batch of new relationships each semester as new enrollment occurs.

New technology can be a wonderful thing, and to some extent the research and development component of the university mission suggests a role as a testbed for new products. But most of us are paid to run a business (e.g. a card program, dining services, auxiliary services) rather than conduct research. Thankfully, we can often do both as long as we keep in mind the position of strength that we possess because of the trust and affinity granted to us by the student-to-institution bond.

Near Field Communications News and Insight
Explore more developments dealing with the implementation of Near Field Communications, a short-range wireless technology that promises to revolutionize contactless identification, payment, access, and more. Click to visit NFCNews.

Related Posts

Subscribe to our weekly newsletter

RECENT ARTICLES

High school bathroom

Bathroom breaks tracked by campus ID and mobile app

At California’s Fresno High, a new app is authorizing and monitoring trips to the bathroom in an effort to increase students’ time in class and decrease gathering in halls and bathrooms. Of course, this has not gone over well with students. Raising your hand and asking the teacher if you can go to the bathroom […]
Atrium Ozzi container

Atrium clients track check-out and return of reusable containers at OZZI kiosks

The push to reduce or even eliminate single-use containers from campus dining is now easier for Atrium clients. Thanks to a seamless integration between Atrium and the OZZI reusable container program, the processes for both students and dining services is streamlined. Atrium clients have been using OZZI for years, but the two systems were independent. […]
HID report snapshot

Security industry’s top trends include mobile IDs, MFA and sustainability

The 2024 State of the Security Industry Report from HID Global studies trends and changes in the security industry. This year six major themes emerged surrounding mobile identity, multi-factor authentication, biometrics, AI, and sustainability. The research includes data from more than 2,500 individuals – partners, end users, and security/IT personnel – from around the globe. Respondents […]
CIDN logo reversed
The only publication dedicated to the use of campus cards, mobile credentials, identity and security technology in the education market. CampusIDNews – formerly CR80News – has served more than 6,500 subscribers for more than two decades.
Twitter

Feb. 1 webinar explores how mobile ordering enhanced campus life, increased sales at UVA and Central Washington @Grubhub @CBORD

Join Jeff Koziol and Robert Gaulden from @AllegionUS as we explore how mobile credentials and proptech are changing on- and off-campus housing.

Load More...
Contact
CampusIDNews is published by AVISIAN Publishing
315 E. Georgia St.
Tallahassee, FL 32301
www.AVISIAN.com[email protected]
Use our contact form to submit tips, corrections, or questions to our team.
©2024 CampusIDNews. All rights reserved.