As a smart card chip provider, Samsung introduces a disruptive contactless concept with both partners that combines existing contactless services and aligns the needs of users, industries and governments with regards to an inclusive payment solution under the motto of “Digital Cash for Everyone.” Previewed at Mobile World Congress earlier this month, the CCP partners focus on the migration of cash into digital cash with the full financial inclusion of audiences that currently have no access to payment cards.
With CCP in place, a user can make digital cash payments via any enabled contactless device of their choice, such as a dedicated smart card, wristband, key fob, or even a mechanical watch or a smart ring.
CCP can also seamlessly combine digital cash payments with loyalty points, vouchers, travel cards, ticketing and more, allowing users to pool a variety of contactless services in a few inconspicuous devices of their choice.
“Current contactless payment solutions aren’t considered a serious alternative to cash in many scenarios,” said Jörg Suchy, associate director business development LSI, Samsung Semiconductor Europe. “CCP however takes the industry well beyond the many boundaries of what exists today. Key to its success is the inclusion of all levels of society – the rich and the poor – alongside the guarantee of simple, secure, direct transactions, with plenty of top-up channels within a simple-to-use unified solution that truly delivers ‘Contactless Digital Cash for Everyone.’”
“Our mobile payment solutions target cardholders, and CCP targets cash users by offering a digital alternative to cash. Rather than issuing prepaid cards for the wearables, CCP gives direct access to the funds,” added Sebastian Piolat, head of business development, Smartlink.