Migros Bank wanted to combine its M-Card bank card and the Maestro debit card into one dual-brand chip card. A further aim was to turn the successful M-Card available into a single-brand chip card with upgraded functions. The Cumulus customer loyalty program was also to be integrated into both card products.
With these two card products, Migros Bank wanted to ensure that its customers would be able to pay in all Migros companies, in what is known as M-World (Migros, Hotelplan, Denner, Ex Libris), as well as its partners such as SBB.
Migros Bank benefits from a partner with extensive experience in issuing and acquiring processing. By outsourcing the card business, the bank is able to concentrate on its core business and reduce the overall cost of investment per card.
SIX Payment Services provides complete lifecycle management of the cards, guarantees delivery availability as well as the applicable security specifications, and further develops chip functionality.
With availability exceeding 99.9%, the single processing platform of SIX Payment Services also meets the high quality requirements of Switzerland as a banking center.
The M-Card bank card is unique and multifunctional. In addition to withdrawals from Migros Bank cash points and post office cash points, CHF 1,000 can be withdrawn free of charge each day at Migros checkouts or Migros customer service desks using the M-Card. Call credits for pre-paid mobile phones are also available from all Migros Bank cash points. A further advantage is that the M-Card is free of charge to all Migros Bank customers.
The Maestro M-Card debit card also contains all the successful M-Card functions, which makes it another popular means of payment.
SIX Payment Services supports Migros Bank throughout the entire value-added chain: from issuing processing to acquiring processing, including EMV competence.
This contract has boosted the competitive strength of SIX Payment Services in national and international processing business and has contributed considerably to the competitiveness of Migros Bank.
The Migros Bank
With 830,000 customers and total assets of 40 billion Swiss francs, Migros Bank is one of Switzerland’s leading banks. Customer-friendly conditions are its hallmark. Migros Bank has around 1,300 full-time employees and 67 branch offices in Switzerland. In 2015 the business revenue reached 594 million Swiss francs and the gross profit increased to 288 million Swiss francs. Migros Bank is a 100% subsidiary of Migros-Genossenschafts-Bund.