4.6 Offering Services to your Customers

Early on during your implementation project you should consider and plan the systems, processes and resources that will need to be in place to support your customers when you launch your service. Below are some important considerations:

  • How will customers sign up to your service, activate their cards and load their accounts with funds?

  • How will you verify the customer’s identity and run basic fraud screening checks to prevent money-laundering and identity theft?

  • How will the customer’s funds be protected?

  • How will customers be able to check their account balance and view details of specific transactions?

  • How will customers be able to transfer funds into and out of their account?

  • How will customers be able to report lost and stolen cards?

  • How will they be able to close their account? What will you do with cardholder data once the account is closed?

  • How will customers change their PIN and renew an expiring card?

  • What types of fees and services will you be charging your customers? (e.g., for ordering new cards and replacement cards, chargebacks, currency conversion or any overdraft facility being offered)

  • What systems, customer service teams and processes will be in place to support customer queries and manage disputes relating to specific card transactions?

  • What type of statements will you be providing to your customers?

  • What systems and processes will be in place to store customer records and card information and log customer queries?

  • Will you provide your customer with a mobile app and web-based customer portal to enable them to self-service? Do you have the capability in-house to build this application layer or will you be outsourcing?

  • Before launching your card service, what type of tests will you put in place to ensure that the full end-to-end cardholder journey works?

  • How will you record information about the transactions processed on your cards and reconcile card balance and payment information on your systems, with information received from Thredd and your issuer?

Your Thredd business development manager can help you explore some of these considerations.