CB relies on Lyra to extend its "Card-on-file" solution

The Grouping of CB Banking Cards has just re-launched in the battle between the schemas on the theme of automation of the secure update of card data. It takes the model of the "Card-on-file" to address its solution Updat Lyra.

FACTS

• CB and Lyra have recently announced their new collaboration on the deployment of the Updat

• This solution uses the "Card-on-file" model to automate the updating of CB bank card data when they expire. The NAP number of the tokenised maps are indeed entered in a file and the recovery of the new NAPs takes place as part of an automated and secure update.

• The customer experience is improved as no transaction is to be carried out alongside customers and traders avoid losing subscribers at the critical time of updating their payment data.

ISSUES

• Focus on another clientele: This collaboration with Lyra now allows CB to send its BtoB offer to a wider customer base since it will now be offered directly to Lyra Collect customers.

• Increase the income of traders CB points out that the automation of card data updates is a lever for increasing revenues for traders who can thus improve their conversion rates by reducing payment refusals related to expired, renewed or replaced cards.

• Monitoring competition : CB proposes another version of the "Card-on-file" solutions already proposed by the other Schemes, Visa and MasterCard and American Express in mind.

PERSPECTIVE

• CB is not on its first initiative to democratize an automatic card data update solution. The French scheme points out that even before being able to capitalise on its new partnership with Lyra, its soluton "Card-on-file" has already been adopted by more than 20,000 e-mergers in France. Updat

• In 2023, the GIE CB opted for another strategic positioning on the theme by partnering with Deezer and Adyen to launch a MDC (Updating CB Card data), an automatic banking data update solution designed to optimize customer experience and support e-commerce growth.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate