The Advantage processor, FIS Global, is instituting a Mass Contactless Card Readiness and Enablement Program that includes all Advantage member institutions unless institutions individually opt out of the opportunity.
You must respond with your choice to opt in or opt out by October 18, 2018. See below for details.
Please email Karen Bos-Carey at [email protected] no later than October 18th and indicate your choice to opt in or opt out.
Requests to opt in or opt out must be in writing. Your choice to opt in will be taken as agreement for Advantage to pass your choice to FIS and begin the enablement and billing processes.
The cost of FIS preparing your institution for enablement at this time is a deeply discounted $5,000: $3,500 to be included in the November 2018 invoice and $1,500 to be billed in 2019. This does not include any network pass-through or other related fees or card costs. If you decide to opt out of the mass enablement program, the future cost of readiness and enablement is estimated to be about $20,000.
If you choose to opt in, FIS will prepare the necessary paperwork and certification so your institution is a step ahead when you are ready to issue contactless cards. The enablement process will be completed during the second or third quarter of 2019. There is no mandate to issue contactless cards and no immediate deadline for beginning to issue contactless cards after enablement.
FIS is offering free webinars about the value of the mass contactless card enablement on October 4, October 11 and October 18 from 1-1:30p ET. Click here for information and to join the webinars.
You may also want to read a report about contactless cards from AT Kearney called It’s Time to Cash in on Contactless Cards and the FIS Success Guide: Making the Case for Contactless Payments.
If you have any questions, please contact Chuck Parsons at 605-335-5266 or Karen Bos-Carey at 605-335-2937.