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

Mashgin kiosk
Mar 01, 24 /

Dartmouth deploys new AI-enabled POS kiosks for self-checkout

  At Dartmouth’s Tuck School of Business in Hanover, NH, the dining hall includes a new touchless self-service kiosk that reduces checkout times dramatically. By eliminating human interaction, item handling, and barcode scanning, transactions times have been cut to as little as 10 seconds. The kiosks are from Mashgin, a Palo Alto-based company that has […]
facial recognition in college classroon

Is facial recognition on campus moving from access control to the classroom?

Facial recognition already unlock phones, expedites airport passage, and replaces IDs for door access, but now it’s efficacy is being testing in college classrooms. Chafic Bou-Saba teaches information systems at Guilford College. He believes he can improve student academic performance via cameras and AI. He and a team of students are designing a facial recognition […]
Feb 28, 24 /

Cal Poly pilots reusable dining containers to curb waste

Students at Cal Poly have been pushing for green initiatives on the San Luis Obispo campus, and dining services is listening. A new pilot program will test reusable containers in an effort to reduce waste from disposable take-out boxes. “The program greatly reduces resource consumption on campus while diverting single-use containers from landfills,” says a […]
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.