Banks

MEE for Banks

MEE offers several benefits for banks:

  • Conversion of card payments to account payments
  • Business model to be agreed directly between the bank and the merchant
  • It will be possible to establish business rules between the bank and the merchant to determine, when a specific transaction is executed as a Dankort transaction, account transaction or e.g. a VISA transaction (via MEEswitch)
  • The bank can make logo and extra services available/visible in the transaction moment within the merchants loyalty- or payment app utilizing MEE (subject to agreement between bank and retailer)
  • The bank will have the option to make MEE payments available within own banking app for their consumers
  • Potential new revenue stream (e.g. account payment fee)
  • Bank can buy license, and re-sell MEE platform as a white label solution to local retail chains
  • Receipts from purchases can possibly be made accessible within the bank's internet bank for their bank customers (avoiding need for 3rd party receipt services)
  • With MEE the bank will have the opportunity to take a greater role in the payment value chain, i.e. act not only as issuer and clearinghouse, but also as PISP, acquirer and PSP
  • Low start-up costs, as the technology has already been developed and in live operation with first major retailer in Denmark
  • Over time the bank will have fewer costs associated with BIN, Chip, PIN-letters, etc.