EZ Reader Fingerprint System

EZ Reader Fingerprint SystemAnthony Portelli, Max Nachamkin, Lawrence Wu, Shaun Lanza$48,000,000,000

Provide customers piece of mind of their security when shoppingMarket Product to Credit Card Companies:VisaMasterCardAmerican ExpressExecutive Summary

Goal:To convince credit card companies of this operational changeWill save both consumers and producers headaches with credit card fraud.TimeMoney

Executive Summary

To reduce the Global issue of credit card fraud.Provide easy solutions for consumers to pay for their products.Mission Statement

With improving technology, credit card and bank account fraud has been more prevalent than ever.Consumers lose moneyCompanies lose valuable time and money to fix fraudulent charges

Value Proposition

Will be placed in Retail storesInstead of credit cards, consumers will swipe their fingerprint in order to purchase their goods.Fingerprint is linked toCredit card numberBank AccountThird Party SystemRecords logs and transactions for consumersProduct Description

Consumer sets up account with EZReaderConnects Fingerprint to Bank AccountNumber One Concern for ConsumersWILL THIS BECOME BIG BROTHER?Consumers can disconnect from EZReader at anytimeFingerprint data will be encryptedWould not be able to decrypt, because no actual fingerprint is storedHow does it work?Major Credit Card CompaniesVisaMasterCardAmerican ExpressAccording to Hoovers.comThere are over 200 companies that deal with Transacting Processing & SettlementTarget Market/Value ChainBe sold to Credit Card Companies, in order to implement this product into their systemThen sold to retailers for consumers useWill be difficult to convince credit card companies, because the change is so drasticTarget Market/Value ChainIndustryTransacting Processing & SettlementNAICS Code: 522320Major Players in IndustryVisaMasterCardAmerican ExpressCompetitive Advantage3rd Party CompanyFocus on Product and SoftwareCan make changes quickly and efficientlyTarget Market/Value ChainMust show that our product is feasible to:Credit Card CompaniesRetailersConsumersIn order to achieve this, we will:Conduct Security WorkshopsE-SeminarsFinally:Send proposals out to the Credit Card Companies.Business StrategyContact heads of Credit Card Companies to pitch ideasCreate Public Awareness by:Featuring idea on popular technology websitesGetting and advertisement on television saying, The Future of Credit CardsPlan to have our product running with one major Credit Card Company by 2013Marketing PlanTo make Money we will:Sell our product software for a flat feeCharge a Transaction FeeCharge a Maintenance FeeCost companies less than to fix fraudulent charges

Financial PlanCompanies Benfit:License product to retailersRetailers BenefitCan process more transaction within the given work dayBoth BenefitNo Money spent to fix Fraudulent Charges

Financial PlanCustomers1st=Credit Card CompaniesVisaMasterCardAmerican Express2nd=RetailersWal-MartTarget3rd=ConsumersYoung AdultsMiddle-Aged AdultsElderly PeopleSituation AnalysisCosts/ClimateFingerprint scanners range from $50 to a few Hundred Dollars

Situation AnalysisCompetitors

Situation AnalysisStrengthsProductSafer than Credit CardsEnds the hassle of carrying multiple credit cards at a timeQuick and easy to use, a simple fingerprint scan is all it takes.New and innovative product design. Safe for the environment because it eliminates the use of plastic cards. OrganizationWe pay attention to our costs and contain costs wherever possible but not at the expense of quality, safety or the environment. Strong leadership keeps our company on task and ever-evolving.

SWOT AnalysisWeaknessesProductRelatively low brand awareness. Requires all stores to have these particular scanning devices. Is not as widely accepted as credit cards.OrganizationRelatively high startup costs. High operating costs.

SWOT AnalysisOpportunitiesOur company has various and innovative ways to improve our scanning technologies. Various opportunities to partner with existing credit card companies. Our company is able to branch out into other ventures involved with fingerprint scanning technology.

SWOT AnalysisThreatsCredit card companies are already well established and penetrating that market will be difficult. Our company may not have stable financial backing due to its radical idea.

SWOT AnalysisQuestions/Comments