Technology
LXS seeks to expand the product offering, infrastructure and, in some cases, expand the group offering to some greenfield operations. The three core variables in the success of a switching and clearing business are:
- the issued card / account base participating,
- the acquiring infrastructure, and
- the electronic banking products on offer.
The traditional commencement point from a product perspective is usually the ATM or EFT market, but once core infrastructure is in place, rapid product diversification into the following products is a natural migration:
- Point-of-Sale;
- POS Cashback;
- Pre-paid products;
- Money transfer;
- Bill payment; and
- Mobile banking support.
The selection of these products, their timing, pricing and placement is a function of local conditions and varies from region to region.
