A white paper that examines the advantages of using new, digital PIN delivery mechanisms to replace traditional PIN mailers is now available to download from the NFC World+ Knowledge Centre.
PINs can now be delivered via a variety of digital mechanisms including SMS, interactive voice response (IVR) systems, online banking and mobile apps, ‘The Benefits of Digital PIN Delivery’ explains — and these options can be “faster, more secure and cheaper than traditional PIN mailer deliveries”.
“Despite the growth in PIN usage, the mechanisms for delivery have hardly changed since their inception almost 50 years ago,” the white paper, produced by Proxama, says. “PINs are still predominantly delivered to customers by post or courier, and it’s a costly and slow process. There are many benefits to both issuers and customers from delivering PINs via digital channels.
“It enables issuers to offer a modern service, meeting the needs of the connected customer. One area of significant cost for a bank is the call centre; enabling customers to self-manage PIN requests through the web and mobile apps can offer substantial cost savings.”
Readers can download this study free of charge here.