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PEGACLSA_6.2V2 exam Dumps Source : Certified Lead System Architect (CLSA) 62V2

Test Code : PEGACLSA_6.2V2
Test title : Certified Lead System Architect (CLSA) 62V2
Vendor title : Pegasystems
: 149 actual Questions

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Pegasystems Certified Lead System Architect

PEGA roles. | actual Questions and Pass4sure dumps

Pega techniques has rather distinct ‘title’ terminology from one which is approved in IT.

everybody is known as Architect ) .for many people it’s complicated. How can they fill Architect with 1 12 months of event in IT??

Pega systems concerned such titles to highlight utility is build by artery of configuring ,now not through establishing. There are three degrees of Pega Architects available on the market:

certified device Architect (CSA) -basic degree ,each PEGA expert should quiet capitalize it;

certified Senior gadget Architect (CSSA) -can also exist mapped to middle-senior specialist;

Lead gadget Architect (LSA) — leading professional. constantly there are 1–2 LSA per project.

As for me crucial in recognizing of seniority even are IT/Pega event, lore of applied sciences (Oracle tools,Programming, application server);

In Pega ‘Architect’ doesn't equal to ‘Developer’ .There are examples of projects the set all capabilities (administration, building, checking out, evaluation) are shared amongst Pega Architects. It’s feasible when the identical adult combines more then one advantage. Most projects embrace Pega and nonPega consultants for distinctive areas which is additionally first-rate ,but not preferable as per foremost practices.

nowadays in terms of trainings Pega programs developed bendy, extended ,tree-structured direction. It will also exist followed on PDN -Pega developers network web site. Your travel all the time begins from the 1st step -CSA, then that you would exist able to pick the style -manager,technical professional (CSSA,LSA) ,company evaluation ,trying out and even UI expert.

this article doesn’t give any assistance on Pega undertaking stuffing as this is pretty particular person technique ,loads of elements should exist measured and analyzed . i would exist comfortable to debate it additionally per demand.

STMicroelectronics Breaks fundamental Milestone for ST33 relaxed Chips with Over a billion sold to cozy the linked World | actual Questions and Pass4sure dumps

  • ST33 1B milestoneST33 relaxed component combines efficient cyber-insurance contrivance with innovative configuration for subsequent-gen applications
  • Pioneer and chief of recent machine classes including eSIM, eSE, and TPM

    Geneva, February 18, 2019 - STMicroelectronics (STM.PA), a worldwide semiconductor leader serving customers throughout the spectrum of electronics functions, has recorded cumulative income of over one thousand million units for its ST33 embedded-protection ICs.

    The recognition of the ST33 household reflects the transforming into quintessential to protect information and methods in at ease cellular-buyer, smart-using, wise-industry and wise-cities functions. in response to a typical certified comfortable platform featuring state-of-the-paintings cyber coverage, the ST33 household's resilient structure has enabled ST to lead the edifice of latest classes of protection chips including embedded SIMs (eSIMs), embedded comfy elements (eSEs), and depended on Platform Modules (TPMs). These give hardened safety in design-in- and person-friendly kind elements, combining convenience with powerful resistance to cyber-attacks.

    "ST33 chips fill pushed the evolution of embedded security for the ubiquitous related sensible objects equivalent to smartphones, wearables, and IoT contraptions that obtain coincident world work," renowned Laurent Degauque, advertising Director, cozy Microcontroller Division, STMicroelectronics. "as the first such instruments to undertake the advanced Arm® SecurCore® SC300 cozy processor, and with the expertise of their bendy structure and superior flash know-how, the family has normally offered insurance policy that meets the highest trade requirements[1] while enabling the mixing of recent features reminiscent of interfaces and accelerators to aid emerging exhaust instances."

    The ST33 is the embedded-security platform chosen by SIM companies, operating system developers, and essential Tier-1 manufacturers producing machine reminiscent of smartphones, wearables, safety readers, laptop PCs and servers. ST33 secure chips had been selected by using well-known smartphone OEMs to install current eSIM based mostly instruments, taking lore of a smaller and thinner WLCSP (Wafer degree Chip Scale package) equipment and GSMA-compliant Personalization-on-Wafer industrial movement.

    In 2018, ST became the primary chip brand to rate the GSMA SAS-UP (safety Accreditation Scheme for UICC construction) certification to personalize ST33 eSIMs for mobiles and related IoT instruments and not using a additional programming required by means of the OEMs.

    ST33 comfortable microcontrollers are available in a immense range of editions offering a conclusion of features together with connectivity to an NFC controller, hardware accelerators for superior cryptographic services, as well as business-grade and automotive-grade qualifications.


    About STMicroelectronics

    ST is a worldwide semiconductor chief supplying ingenious and energy-productive items and solutions that vigour the electronics at the heart of approved existence. ST's products are discovered far and wide today, and along side their clients, we're enabling smarter using and smarter factories, cities and houses, together with the next technology of mobile and web of things gadgets.

    through getting extra from know-how to accumulate more from lifestyles, ST stands for all times.augmented.

    In 2018, the business's web revenues fill been $9.66 billion, serving more than one hundred,000 valued clientele worldwide. further tips can also exist discovered at


    For more information tickle contact:

    STMicroelectronicsMichael MarkowitzDirector Technical Media 781 591 0354

    [1] ST33 equipment versions meet lofty safety requisites spanning cellular payments, e-government, IT and different industries, together with ISO 15408 CC EAL 5+, EMVCo, Federal assistance Processing specifications (FIPS), GSMA far flung SIM Provisioning.


    CNH Architects hires licensed interior dressmaker | actual Questions and Pass4sure dumps

    This achieve up became contributed with the aid of a community member.

    CNH Architects in Apple Valley has hired a seasoned certified indoors clothier, Ashley Klis, to provide capabilities for the firm's commercial challenge interiors.

    Klis expands the firm's LEED AP credentials, which are wide. LEED is the management in energy and Environmental Design, which named Klis as an approved knowledgeable for evolution and evolution of industrial interiors and tenant areas that present a heathy, sustainable and productive toil ambiance.

    "Ashley is an excellent listener, and suits in smartly with their group and the company's client-based service," pointed out Quinn Hutson, a well-known of CNH Architects. In her old-fashioned toil with a nationwide company focusing on design and consulting for meals carrier, she listened to leaders for tasks in ok-12 and better training, company and business and churches.

    Klis is portion of a methodology to further strengthen the indoors design expertise at CNH, Hutson explains, and she or he brings enhanced capabilities in gadget and freestanding furnishings.

    The interior style designer follows the customer's lead when settling on indoors hues, finishes and products and considers 3-D laptop drawings invaluable to assist them visualize the layout and design. She is at the moment working on assorted tasks at CNH, together with a fireplace station, corporate café, church, day care and a yoke of workplace structures. Klis referred to she appreciates the range.

    As a graduate of the institution of Wisconsin-Stout, she acquired a Bachelor of character arts in indoors design. Klis is gaining added expertise via carrying on with schooling. She graduated from Lakeville unreasonable faculty and lives in Lakeville along with her husband, their son and daughter.

    CNH Architects is a inventive, service-oriented enterprise that offers creative design solutions for the business constructing and retail areas, public sector consumers, such as cities, counties and states, and automobile facility initiatives, day care and animal care facilities. CNH has served purchasers within the Twin Cities and higher Midwest for 50 years.

    Get the Apple Valley-Rosemount newsletterSubscribe

    Thanks for your comments.

    The views expressed during this achieve up are the author's own. exigency to submit on Patch? Register for a user account.

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    Citrix Systems Management Discusses Q3 2013 Results - Earnings convoke Transcript | actual questions and Pass4sure dumps

    No result found, try current keyword!Citrix Systems (NASDAQ:CTXS) Q3 2013 Earnings convoke October 23 ... they believe there's a solid multiyear product cycle ahead for customers of all sizes, as they refresh their IT architecture to support ...

    Mastercard Incorporated - Special convoke | actual questions and Pass4sure dumps

    Darrin D. Peller - Barclays Capital, Research Division

    Craig J. Maurer - Credit Agricole Securities (USA) Inc., Research Division

    Julio C. Quinteros - Goldman Sachs Group Inc., Research Division

    Timothy W. Willi - Wells Fargo Securities, LLC, Research Division

    Gil B. Luria - Wedbush Securities Inc., Research Division

    Good day, ladies and gentlemen, and welcome to the MasterCard PayPass Wallet Services Conference Call. My title is Catherine, and I will exist your operator for today. [Operator Instructions] As a reminder, this convoke is being recorded for replay purposes.

    I would dote to circle the convoke over to Ms. Barbara Gasper, Head of Investor Relations. tickle proceed, ma'am.

    Thank you, Catherine. superb morning, and thank you for joining us either by phone or webcast today for a discussion about last night's announcement of their PayPass Wallet Services. With me on the convoke today is Ed McLaughlin, their Chief Emerging Payments Officer, who is joining from the CTIA Conference in current Orleans. They are only able to earmark about 30 minutes this morning for the convoke due to Ed's other conference commitment. However, they wanted to give you all an break to hear directly from Ed about their current PayPass Wallet Services. They will then fill a few minutes to address some questions.

    The press release on last night's announcement can exist organize on the Investor Relations section of their website, They fill also posted some hotlinks to a few things that Ed will refer to in his remarks. Also, a replay of this convoke will exist posted to their website for one week through May 15.

    Finally, as set forth in more detail in today's release, I exigency to remind everyone that today's convoke may embrace some forward-looking statements about their current services based on their current expectations and beliefs. Actual performance could differ materially from what is suggested by their comments today. Information about the factors that could move future performance are summarized at the cessation of their press release, as well as contained in their recent SEC filings.

    With that, I'll now circle the convoke over to Ed McLaughlin. Ed?

    Thanks, Barbara, and yes, we're calling here from CTIA in current Orleans, which if you're not close with, it is one of the largest global telecom events for the year. last night, they announced the PayPass Wallet Services, and we've gotten distinguished response so far. Also, in about 2 hours, we're going to exist demonstrating the PayPass Wallet Services to probably a few thousand people as portion of Gary Flood's keynote here at the conference. And this will exist streamed live if you'd dote to behold it in action. They achieve the link to this. It's available up on the Investor Relations website. So about 10:20 Central, 11:20 Eastern Time, they wish to fill the keynote streaming.

    But first, let's Take a puny bit of time to succeed up on any questions you may fill on the wallet services announcement from last night. So I mediate it's probably best to start with a quick recap of what it is and who it's for.

    So the PayPass Wallet Services, their current global offering from MasterCard that extends PayPass beyond the Tap & Go, the E and M and other types of commerce. With PayPass Wallet Services, it will exist faster, simpler and more secure for consumers to obtain purchases, both in-store or online, with a click of the mouse, touch on the tablet or tap their smartphone.

    The PayPass Wallet Services are comprised of 3 distinct components: the first would exist is enhanced merchant payment acceptance capability, which includes both their PayPass Contactless NFC technology for in-store and a current PayPass Online checkout service for e-commerce. These provide consumers and merchants with better shopping experiences in-store and online, which will reduce queue time and helps to circle more browsers into buyers. It eliminates the exigency for customers' circumstantial bit -- to enter circumstantial shipping, card and other information. And that's a distinguished benefit, particularly when you're on miniature or mobile script.

    The PayPass acceptance benefits are also specifically designed to exist very simple for merchants to integrate into their current store and online business. They accept MasterCard today. It's very effortless for them to adopt the PayPass Wallet Service. So that's the merchant acceptance.

    The second component is the PayPass Wallet. This will enable banks, merchants, partners to offer their own wallet to their customers without needing to build out an infrastructure. They want to enhance relationships that their partners fill with their customers, not interfere with them. So for example, consumers could exhaust the identical login and applications they fill today from their bank and seamlessly accumulate distinguished current payment capabilities and other service.

    The wallet is also open so consumers will exist able to exhaust any card they have: MasterCard, Visa, American Express, others, and store their addresses, offers and other information in one familiar, convenient and secure way. And merchants adopting PayPass acceptance know there will exist any number of wallets the consumers can exhaust that will Take advantage of them.

    The third component is the PayPass API, which will enable partners to connect their own digital wallets into the PayPass Acceptance Network, leveraging MasterCards checkout, fraud detection and authentication services and enabling their customers to obtain purchases wherever PayPass is accepted, online or in-store.

    And finally over time, the wallet services will exist expanded to embrace other value-added services dote their inControl alerts and spending control, MoneySend, MarketPlace offers and coupons, enhanced loyalty programs and others.

    So these are the PayPass Wallet Services they just announced. And before they open up to the open question, I'd dote to Take a moment to address some of the specific questions that I know you have. One of the first question is always is, well, what's the distribution model? Now it sounds great, but how would I exist able to accumulate one. And as I mentioned earlier, the PayPass Wallet is designed to exist white-labeled and branded by fiscal institutions, merchants and other partners, and this is key.

    The integration services will allow issuers and their partners to connect their proprietary wallet offerings to their network and enable their customers to pay wherever PayPass Online and PayPass Contactless are accepted. Now while their primary artery of distribution will exist through their partners, we're actively testing the PayPass Wallet with their employees, and they will fill it live later this year on

    So consumers will exist able to accumulate PayPass simplicity and enhance security from MasterCard through any number of global partners. And I mediate you've seen from the announcement they fill out. They can range from a Banesto, a Citibank, Bank of Montreal, Westpac, Commonwealth Bank of Australia and many others who fill already signed us.

    As they want to emphasize, the PayPass Wallet Services are designed to enhance, not to interfere with, the relationship their banks and other partners fill with their customers today. They believe the integration model will also greatly accelerate the achieve to consumers they can bring to merchants, so the merchants can Take advantage of a better checkout smack online and in-store. We've been working closely with merchants to design the service, particularly to obtain it easier for them to implement. And you should check out some merchant testimonials, which I believe we're posting up on their YouTube channel. You can find the link to this in the Newsroom section of their corporate website.

    Our acquirers are also key partners of it, along with MasterCard's DataCash and MiGS Internet Gateway and a big number of payment service providers they are already working with dote Ogone, Sage Pay and CardinalCommerce. And as you've already seen with the toil we're doing with Isis, with Google, with others, there will exist ongoing announcements of places and partners where the PayPass services will exist used with digital wallet.

    Another question which came up is, so why did you depart with the PayPass branding to the digital service? And the answer is pretty simple. They asked consumers. They loved the ease and convenience of Tap & depart in the physical world and wanted the identical security and simplicity online and responded really well to extending PayPass into an open, online in-store wallet, particularly when they knew it was from MasterCard.

    Our merchant partners also talked about the growing convergence in shopping. A term that was used a lot was omni-channel, we're not even multi-channel anymore, where consumers shop online and pick up in-store or in-store shopping online to fill shipped home or any other combination in between from any digital device they may fill in any account. Their converged PayPass digital wallet services provide a secure artery to support any number of digital wallet, both online and in-store, which really met their needs.

    And a few more that maybe on your mind. So what about the iPhone, My Kindle, tablet, other smartphones that I fill today. How does my existing equipment apply? And the superb advice is, PayPass Online, the online shopping component, can toil purely browser-based, so you can exhaust it with anything that connects to the Internet: a PC, tablet, game systems, smart bridge, whatever device. As we've said earlier, every device will exist a commerce device. This is really an infrastructure that enables it.

    Now to exhaust the PayPass Contactless in-store directly from the phone, the phone will exigency to exist able to support and secure NFC transaction. And I mediate you saw last week, the PayPass ready certification program they announced, working with handset manufacturers dote Samsung, HTC, Nokia, RIM and others to obtain sure as their current NFC-equipped smartphone Come to market, they're all ready for PayPass enablement.

    So you can exhaust PayPass Online today from any smartphone or other device and upgrades your phone to exhaust PayPass NFC in-store when you accumulate a current one that would exist PayPass certified. The key is, the integrated PayPass services will exist ready for you when you are.

    And of course, what's the economic model? How does MasterCard obtain money in all of it? And the PayPass Wallet Services we've just announced are natural extensions of their business model, optimized to digital world. First, they multiply their volumes and transactions as they capture more partake of consumers spend on MasterCard, particularly in the e-commerce space. Second, in the future, they add current features such as inControl and they permeate for these value-added services. And they believe by delivering value to banks and making these product available for white-labeling, we'll provide on-behalf services that will accumulate a lot of value from. And even when a competitor's card leave their wallet, we're providing value to the payment's ecosystem by providing infrastructure and routing services that obtain it all work. They fill always been supportive of economic system, and this takes the MasterCard business model and simply extends it to support all of these current device.

    And the last well-known question is when will all this exist in the market? And as I said at their Investors Day last September, we've been working diligently on the PayPass Wallet Services for quite some time now, getting them ready for the market. As you know, innovation is a very iterative thing. And you may fill seen, we've been working with partners already dote American Airlines, Barnes & Noble, using DataCash and other payment service providers and are currently in beta in the U.S.

    The production platform in the PayPass Wallet Services will exist in-market and available to their partners in the third quarter of this year, with the United States, Canada, U.K. and Australia as the initial launch market. And as you saw in the release with partners dote Swedbank, BBVA, Intesa Sanpaolo and in the announcement yesterday, other global markets will soon follow, particularly in the support of cross-border e-commerce.

    So I hope I was able to give you puny bit of a feel for what the wallet services are and directly address some of the questions I know you may fill had.

    So with that, Barbara, I mediate they quiet fill some time to open it up for more questions.

    Barbara Gasper

    Right. Thanks, Ed. At this point, they execute fill a puny bit of time for your questions. [Operator Instructions] Catherine, you want to start the mp;A session, please?

    Question-and-Answer Session


    [Operator Instructions] Your first question comes from the line of Bryan Keane from Deutsche Bank.

    Bryan Keane - Deutsche Bank AG, Research Division

    Ed, maybe you could just capitalize us what differentiates the MasterCard Wallet versus and the others that are out there in the marketplace?

    Edward McLaughlin

    Absolutely, and there's been so many different announcements in the marketplace. If you peer at, there fill been quite a few announcements for Visa Inc. and Visa Europe. So the specifics on the initiatives, I really fill to shelve for them. But from a MasterCard perspective, what they want to execute is design these services for integration. We're not trying to accumulate in front of their partners' brands but rather enable commerce to happen, and that's very well-known for merchants. We've also been emphasizing the ease of the immigration for the merchant, obtain it very effortless for them, they accept the MasterCard today, originate working with the wallet service. But unlike some of the other initiatives you've seen out there, I don't fill to rewire my settlement systems or address my consumers in a current way. The other thing that's well-known for consumers is the PayPass Wallet Services delivered genuine digital card transaction. So all of my liability rights, my settlement guarantees, my rewards and other things are there. So I'm not topic to some sort of transaction randomization or other things that may interfere with the transaction itself. And probably the most unique feature is rather than saying there's going to exist one wallet here that will rule them all, what we're enabling is a network of wallets. We're doing what MasterCard has always done. mediate of it almost as the digital equivalent of the lower right-hand side of the card. We're giving merchants a distinguished acceptance smack they can reckon on. We're standing behind those transactions. We're ensuring the reliability of the overall service, but we're letting lots of their partners either exhaust their white-label wallet services or even develop their own wallets and hook it into their network of wallet. And that's where, I think, they accumulate to scale. But it's also, though, where they allow consumers to accumulate any number of experiences environment that are specifically tailored for the relationship they fill with that partner. So being able to exhaust the identical login that they exhaust for my mobile banking application and not having to learn something else is a distinguished benefit. Being able to accumulate actual fiscal information in actual time from whoever has issue the card, while I'm making my shopping -- while I'm shopping. Again, it's a actual benefit. So their emphasis is on partnership. It's on integration. It's on edifice a network of wallet and adding a lot of value to merchant. The last piece I would emphasize is this convergence that's going on perquisite now. And merchants will uncover you, I'm not e-commerce or in-store, it's both, but sometimes even both simultaneously. Because the astounding thing about a mobile phone is with your handset, you're always online, and online is always with you. So we've integrated in PayPass in-store, which is the gold measure globally for contactless transaction to circle that mobile into a payment device and along with what we've just announced with PayPass Online to give the identical easing convenience from any channel that consumers want to shop.


    The next question comes from the line of Darrin Peller from Barclays.

    Darrin D. Peller - Barclays Capital, Research Division

    Ed, while the wallet exhaust in physical point-of-sale in NFC terms is probably quiet some time off during that exigency for acceptance at point-of-sale. Can they await to behold the click-to-buy online traipse more quickly and enable materially increases in your online market volume, maybe Take partake from PayPal? And then how effortless is it for online merchants to really accept it? How many merchants online execute you exigency to fill for this to exist a broad acceptance of scale where consumers are comfortable using it?

    Edward McLaughlin

    Yes, they behold several things happening there. One of the primary is there's been a lot of shift in behavior. I'm sure you've seen the research on it, where people are moving away from using traditional keyboard and PCs to alternate device. Search is moving that way. Shopping is moving that way. And in that case, merchants are now looking to mobilize their site. So the contour fill of data entry is not really optimal sometimes for the smaller keypads you'd see. So as merchants mobilize their site, there is a tremendous amount of interest in putting up the button for a one-click checkout. So it really is in line with the merchant objectives they behold for that, and also because where a lot of the shopping is today is using these device to depart online. They execute mediate that's where you'll behold a lot of the initial usage. But I wouldn't discount in any artery the PayPass in-store. We've had 40% growth in just the last year in the number of merchant that are adopting to over 400,000 merchants. They fill countries dote Canada, where over 10% of their transactions are already contactless. And this is something we've been working on. If you peer at the announcement for their EMV framework that they issued earlier this year, we're talking about not only upgrading the infrastructure to a more secure EMV cryptogram-based transaction, but also for contact and contactless. Just dote they saw in Canada and other markets, merchants don't fill to retrofit their equipment to execute this, but it will exist portion of their natural upgrade cycle. So they behold merchants where it brings a lot of value to their business, I think, doing it earlier. But we're on a path on market-wide levels around the world fill mobile and other devices supported seamlessly to tell.


    And the next question is from the line of Craig Maurer from CLSA.

    Craig J. Maurer - Credit Agricole Securities (USA) Inc., Research Division

    My question is, if you fill many, many, many branded wallets offered by consumers, respective banks around the world, how execute you manipulate the targeted marketing that the merchant might want to execute into the wallet but you fill huge fragmentation among the actual wallets that are out there?

    Edward McLaughlin

    Certainly, and that's where publishing mechanisms are so important. So if the wallets that will exist using the acceptance imprint will all exist connected to the MasterCard network. So you may fill seen with the offer services they fill today where it's offered through specific destinations, but it also has the ability to publish out. So it will provide a distribution channel for merchants. Now the specific consumer smack will exist up to their partner, and they await there'll exist a lot of tailored experiences out there. So consumers can pick what works best for them. But the ability to connect merchants to consumers through the PayPass network is not only for the transaction itself, but also for other services.


    The next question comes from Glenn Fodor from Morgan Stanley.

    Glenn Fodor - Morgan Stanley, Research Division

    Just trying to gauge the appetite for some of these banks, big banks who already fill wallet capabilities. So can you give us a sense -- you listed a bunch of banks that fill signed on from the get-go. What percent of those already fill their own wallet technology and you're going to just integrate yours with their technology? And is it almost easier from your perspective if a bank does not fill a wallet perspective -- wallet setup already and you just start from scratch? Does it matter?

    Edward McLaughlin

    It doesn't matter. I mean, this is a market that's going to evolve. We've seen banks that fill wallet initiatives and they embraced, they savor the understanding that we're edifice an open acceptance network to allow that wallet to exist that much easier to exhaust at a wide range of merchants. They fill other institutions that convey they're interested in the white label now, but may progress to their in-house version later, which they mediate is great. I execute mediate in the future, they may fill some banks that fill achieve this side of application in set and realized it into scale and will exist looking for on-behalf services from MasterCard. So that's the key to the architecture that they fill here. They can either provide this on-behalf services or link in to what fiscal institutions they have. And economics and timing are really going to drive all of these in position. But I wouldn't convey it's 100% yet?


    That's from the line of Chris Brendler from Stifel, Nicolaus.

    Christopher Brendler - Stifel, Nicolaus & Co., Inc., Research Division

    Can you talk at all about sort of the future as you behold -- I savor the open architecture. I just wanted to know if you mediate that in the future when we're shopping online, execute all these wallets accumulate integrated, dote what if I had a MasterCard account at 2 different fiscal institutions, what if I fill a Visa account online? How execute they behold the future? Obviously, we're not going to fill that many wallets. Does your product actually give the break to exhaust different passwords to access different institutions but all linked into the identical wallet?

    Edward McLaughlin

    I mediate what you behold there, I accumulate to exhaust the word disambiguation into that, which is great, but consumers may fill more than one wallet, just dote you may fill more than 1 car for whatever intuition that you do. So when they accumulate request for wallets, so consumers registered more than one wallet in the MasterCard network of wallets, we'll route it to their default, but we'll give them option to switch between them. And I mediate you're absolutely right. What merchants want to say, is want to provide this mechanism. And that's why it really is dote the acceptance toil that we've always done and know that a consumer has a wallet that is participating in the network, I can exhaust it anywhere they see. So it really a natural extension of that. I mediate the relationship that banks and partners fill with consumers will just exist enhanced to incorporate online shopping and a lot of the capitalize that they fill and people will naturally orient towards you serving them back.


    That comes from the line of Julio Quinteros from Goldman Sachs.

    Julio C. Quinteros - Goldman Sachs Group Inc., Research Division

    I was wondering if you guys could sort of mediate about or capitalize us mediate about what this means for your efforts, along with Google Wallet, as you guys mediate about the mobile efforts there? And then in terms of competition in the online world, is the competition purely aimed at kind of sort of one-click effort, I guess, either, obviously, would exist the most relevant there. So I'm just trying to mediate about the competitive dynamics both against Google Wallet and the eBay PayPal?

    Edward McLaughlin

    Sure. I'm really lighthearted you asked because what we're doing with Google, what you're doing with Isis, the toil we're doing with their other technology partners, this is all portion of that. So at the heart of every Google Wallet is a MasterCard prepaid card that I can tap using PayPass anywhere in the world that is accepted. We're working with Isis. We're working with others. So they believe by making this things toil better, by generating the value from MasterCard, that's what's best for people who fill MasterCards today. That's what's best for their organization. That's an well-known portion of their strategy. And I mediate the other thing which is important, when you peer at any specific artery of interacting, whether it's the online button, the tap in the store or any of the other things you'd behold coming out of MasterCard Lat, in my mind, it's not that transaction itself, it's the overall MasterCard number. The account you fill and the relationship you have. So I think, while there's a battle for who has that separate online transaction, it kind of missed as a consumer and what we're edifice for. And the intuition they talk about this converging world is this is already happening. I could exist in my cab -- in a cab on with my mobile shopping online. I tap to accumulate out of the cab, and when I accumulate to that restaurant, maybe just slip my existing piece of plastic into the folio to pay for the meal. For me, as a consumer, that's distinguished because I accumulate to exhaust whatever interface makes the most sense for whatever specific I'm trying to do, but it's all tied back to the identical account, all handled by the MasterCard network. They fill the identical rights and rules and everything that comes from genuine MasterCard transactions. So I don't mediate there's a battle for specific transactions. It's really was providing what's best for consumers in all of the environments they want to shop. And their ability to give better experiences and more secure experiences online in your current NFC-enabled handset, that's quiet anchored on the distinguished acceptance they fill in the plastic world today, which people love. That's really the force across the board, so I wouldn't focus on much on one specific edge device or transaction key.


    That's from the line of Tim Willi from Wells Fargo.

    Timothy W. Willi - Wells Fargo Securities, LLC, Research Division

    I had a question going back to sort of the economic model. So I was inquisitive if you could talk about within the wallet, there's often the talk of slotting fees for hosting cards and then the battle to exist top of wallet. Could you talk about that concept and then to what degree that is also a portion of the economic model for the products you've launched?

    Edward McLaughlin

    Yes, and I said earlier, they behold this as just a logical extension of MasterCard's business model. And you execute exigency to exist observant with some of the proposals we've seen out in the marketplace for aggressive routing of consumers transaction and forcing them and all of that. They believe the consumer absolutely has to pick how they're paying and how they want to pay, and this is designed to enable them. So again, if you mediate this from a MasterCard perspective, we'll fill the ability to provide on-behalf services. We'll exist generating a lot of value in current transactions for merchant, and I really behold that as the basis for the economics year. And if you execute a distinguished job for merchants and reducing dropout, reducing queue time, driving more sales and give consumers the smack the really want, the bits in the middle will sort themselves out.


    And that's from the line of Gil Luria from Wedbush Securities.

    Gil B. Luria - Wedbush Securities Inc., Research Division

    It seems dote to obtain the mobile payment attractive to consumers, you're going to fill to fill a bigger install base of NFC promo. You mentioned the 400,000, number. That's quiet a very miniature percentage of retailers. And much of that has either been installed in the past or was subsidized by Google. How execute you behold the adoption and the upgrade to NFC progressing over the next 3.5 years to your first deadline? And then after that, execute you behold it as a gradual identical even of upgraded that's always happened over, let's say, a 5-year era or execute you behold an accelerated possibility that's already starting? execute you fill evidence of that? execute you await more of a back-end loaded upgrade cycle in 2015? How execute you behold that and then at what point execute you behold the captious mass that's going to compel consumers to feel dote they can exhaust an NFC-based wallet anywhere they want to shop?

    Edward McLaughlin

    We fill thoughts for that, and I mediate they fill a distinguished force as they you can exhaust your payment credentials anywhere you want to and with alerts and other things they can tie it back to the phone. And then you could you exhaust an NFC-enabled phone wherever PayPass is accepted. So I would point to a few things, one of which is the 40% growth year-over-year we've seen in merchant adopting them. So it this at your 7-Eleven and McDonald's. It is at Subway. It is at Macy's and Bloomingdale's and Home Depot. I can depart in at Home Depot today and tap my PayPass-enabled smartphone and it works great. The other thing is, if you peer at, as I said earlier, markets dote Canada, where 1 out of 10 MasterCard transaction are already contactless. Some phones and other markets are catching up to that. So they are actually seeing that momentum. They also will behold millions of NFC-enabled handsets coming into the market, if you peer at their PayPass ready certification program that they also talked about last week. And the last thing I'd highlight, if you haven't seen it, they just published some empirical research for their MasterCard Advisors, where they looked at consumers who were using PayPass and those who weren't. And there was a 30% greater spend, 30% greater usage of your cards when they were PayPass-enabled. So it's a distinguished piece of research, and those types of value are what drives decision. Carrefour, one of their immense retail partners, they said they were getting 20% to 40% faster time through queue using PayPass. So obviously, they moved all their store loyalty and other cards to Take advantage of contactless. And to your captious point, the captious mass, I can exhaust it today in any cab in current York. And so it becomes a near daily transaction for me when I'm around the city. But execute you mediate it's something to build over time? I execute think, as they said earlier, rather than trying to retrofit gear for a separate value proposition. This is going to exist portion of the orthodox upgrade cycle. all of the major terminal manufacturers are including contactless as far as their measure mill. all of the incentives and the model they fill to provide capitalize for the adoption of EMV incorporates moving both contact and contactless. I mediate the actual answers will exist more than ready when consumers and the equipment are.


    That comes from the line of Ramsey El-Assal from Jefferies.

    Ramsey El-Assal - Jefferies & Company, Inc., Research Division

    Understanding what you just said about handset manufacturers are starting to build the NFC capability. Now that they behold PayPal at the physical point-of-sale using -- connecting with the digital wallet with a PIN code or plastic card, enabling consumers to transact that way. Can you contemplate using your wallet to transact without NFC and some future modality or is really NFC the artery you behold the physical point-of-sale as it gets connected to your wallet?

    Edward McLaughlin

    Well, I guess, from a MasterCard perspective, it's difficult to behold using a physical card that point-of-sale is breakthrough current innovation. You can always exhaust your card. They fill 31 million merchant locations globally that toil flawlessly with the cards you fill today, and it's all against the identical account. So the digital is simply a artery of having a virtual version of that card, if you will, that could exist optimized for online and in-store shopping. So that's why I want to accumulate back to this converged experience. As a consumer, MasterCard is providing a distinguished option that can exhaust that card anywhere, anywhere MasterCard is accepted today. As you know, that's a distinguished experience. And they can obtain it even better, even simpler, even more secure with allowing PayPass Tap & depart or PayPass Online. But they're all just more secure, simpler and smarter ways to exhaust the identical account that you have. So as a consumer, it's exactly what I want. I accumulate one set of alerts. I accumulate one artery of -- one account that I access in any number of ways that makes sense. So what they mediate about the future, they fill sort of as of yet unimagined edge device in the network. And what that really means is how execute they bring the value of the MasterCard network and bring that smack to consumers. So I'm really not worried about people trying to recreate or supersede the plastic smack they fill at the point-of-sale. We've been protecting that for 30 years. This is about extending into the current environment.

    Barbara Gasper

    Thank you, Ed, for taking time out of your busy schedule this morning to unite us, and thanks to everybody who's on the call. They hope that you will exist able to listen in to Gary Flood's keynote address at about 11:20 current York time today, where you can behold a demonstration of this technology. And as always, if you fill further questions, tickle don't vacillate to achieve out to Investor Relations. Thanks, and fill a distinguished day.


    Thank you for your participation in today's conference. This concludes the presentation. You may now disconnect, and fill a superb day.

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    More From Seeking Alpha

    OSAT Consolidation Continues | actual questions and Pass4sure dumps

    Advanced Semiconductor Engineering (ASE) and Siliconware Precision Industries Ltd. (SPIL) are beginning the process of uniting the two companies, which are among the largest outsourced semiconductor assembly and testing contractors in the world.

    For now, the companies will continue to operate separately, while their shares are traded under the ASX symbol on the current York Stock Exchange. ASE Industrial Holding serves as the parent company for ASE and SPIL. But the merger is almost unavoidable to change the competitive landscape in the assembly, packaging and test markets.

    All of these areas are tough markets. ASE posted net income of $670 million on 2017 revenue that was just slightly coy of $9.8 billion. While that may appear dote a lot of money, compared with many segments in the technology world it’s a tense operating margin.

    The ASE/SPIL deal is being very closely watched by Amkor Technology, JCET Group, and smaller contractors. OSATs are not just competing among themselves anymore. Increasingly, they are facing competition from TSMC, UMC and other foundries, which fill pressed into chip packaging and testing services for several years now. There are also internal assembly and testing operations at some of the bigger semiconductor vendors, such as Intel, Samsung Electronics, and Texas Instruments, that Take away unavoidable business opportunities.

    “There are a bunch of pressures in the OSAT business that will shape the industry in coming years,” says Risto Puhakka, president of VLSI Research. TSMC is competing in the high-end packaging business, with Apple as its immense customer, and integrated device manufacturers are also competing in that field, he notes. (TSMC’s largest customer, not identified in its most recent 20-F filing, accounted for 22% of the foundry’s 2017 net revenue.)

    There is more competition on the horizon, too. “The other pressure point that the OSATs feel is China,” says Puhakka. “There’s a substantial amount of packaging coming up in China, with the much lower cost, whether it’s through subsidies or something else. There is definitely pressure at the low end. It comes in the contour of cost pressure. Because the OSATs want to withhold up the volume; their pricing is a much tougher environment. If you peer at those two trends, you behold people probably want to accumulate bigger, they want to exist operating in China, they want to exist more competitive. The cycle in R&D is to accumulate back that high-end business, and there are a number of things pushing in those directions. If you peer at the OSAT business last year, there was growth, but nothing spectacular. Then, you peer at the assembly equipment demand, which was spectacularly hot, which means a lot of equipment went to others—other than the traditional OSATs. It went mainly to China, to IDMs, to TSMC, Samsung.”

    China’s OSAT industry is mostly made up of smaller firms, aside from Jiangsu Changjiang Electronics Technology (JCET), which owns STATS ChipPAC and other companies. JCET acquired STATS ChipPAC in 2015.

    ASE and SPIL will exist involved in integration initiatives in the near future, according to Puhakka. “The bigger question is, what will Amkor do? What will JCET do? The immense players may want to buy from China. That’s not out of the question, but there would exist some regulatory hurdles, I would imagine, to execute that.”

    The big OSATs today fill geographically diverse operations throughout Asia. But China represents the largest growth opportunity.

    “It is a market not to exist ignored,” he says. “It just that you fill the Chinese regulations, the requirement of joint ventures and technology transfers. It makes people very uneasy to execute something dote that. Those kinds of actions fill limited how much business transfers to China. If you’re operating in China, you fill ongoing IP protection issues. You’re constantly making decisions about what IP are you moving to China, what are you not. By default, people are basically saying, whatever you traipse to China, it becomes Chinese knowledge.”

    Fig. 1: Pressures mount for OSATs. Source: CLSA

    Bigger dealsJust as more limited opportunities and growing R&D investments fostered some mega-deals in the semiconductor business, similar forces are at toil in the assembly, package and test world, which serves the semiconductor companies.

    “It was certainly no flabbergast that ASE and SPIL came together, because of the increasingly challenging OSAT business environment and the major consolidation we’re seeing in their customer base,” says Hal Lasky, senior vice president of sales and marketing for JCET Group, who also serves as executive vice president and chief sales officer for STATS ChipPAC. “It’s kind of inevitable that they would behold this at the OSAT level. Clearly, we’re a portion of that as well, as they are now a portion of the JCET Group. What does it move for the competition? As a company, they embrace this change, and they behold many opportunities arising due to this merger. There are many semiconductor companies, their customers, who behold a combined market partake of ASE and SPIL within their own TAM. I convoke it unhealthy, or maybe a puny too high. We’ve had many chances to compete for market partake where, without this merger, they wouldn’t have. I absolutely believe this merger enhances the competitive nature of the OSAT space. Maybe it gives us a higher bar to shoot at, which is not necessarily a snide thing for this very competitive OSAT industry.”

    Lasky anticipates there will exist more consolidation ahead, for the OSAT segment in particular, and the semiconductor industry in general.

    “In the OSAT space, while I execute await us to succeed the trend, they won’t behold quite the pace. There is quiet a chance to behold continued OSAT consolidation, but maybe not at the pace of their customer set. And the issue with OSATs is that the long tail of their industry—where the miniature players are not always of interest for M&A for the larger OSAT because the recur you accumulate versus the alternative of just competing for the business—when you peer at that and the ROI and the deal around that, it doesn’t Come out in favor of acquisition. Also, in the OSAT space, the technology gap between top-tier OSATs and the smaller OSATs continues to grow. That has an impact on the interest even in the larger OSATs to drive M&A with smaller ones.”

    So rather than accelerating consolidation, consolidation among OSATs actually could slack down, he says. At the identical time, TSMC will continue to compete with OSAT contractors in IC packaging services. “Their solutions in the wafer-level space—InFO and CoWoS—those are outstanding packaging solutions. They are targeted at key segments in their customer space, and they are staking out their portion of the application space. Within the overall application space, there is a very superb lucky for those products. They’re investing in the back end, and they’re doing it in a artery that makes sense to their business. And it lets them optimize their overall business model. I behold them continuing with that and continuing to stake out that position. While that’s certainly a challenge to the OSAT space, it’s not really a killer. But they exigency to adapt to that.”

    Peaceful coexistence?So can foundries and OSATS live and toil together?

    “There’s no question that the answer to that is yes,” Lasky says. “I believe very strongly that there’s plenty of opportunity. As they adapt to that shift in TAM, it’s mostly TSMC when you peer at it, the bottom line is I believe very strongly in the spirit of co-opetition, because they continue to toil very closely with the foundries to Take care of and support their customers. Key to how they adapt as an OSAT industry really is finding where their strengths and their capabilities in the OSAT industry can Take advantage of current growth areas, to Take TAM back versus losing it to the foundries.”

    The system-in-package module space is one district where OSATs can really shine, Lasky asserts.

    “When these higher-level solutions involve multiple die, multiple devices, and you exigency to integrate at the packaging even to create a packaging-level solution, suddenly you exigency the abilities of OSATs, where in the past you might fill done that as an EMS board-level solution,” he says. “There’s miniaturization, there are shielding concerns, there are a lot of different intricate process-level concerns, and it’s required at a very lofty yield. And those are all things that they play well in. We’re starting to behold their TAM actually grow in that space in the OSAT world. There is no one packaging solution that’s going to wallpaper the entire application space. You exigency to find your strengths, find where your capabilities can let you grab share, and then depart for that. Even in wafer-level, where the foundries fill the very sturdy solutions for some of these processors, they fill their own fan-out wafer-level and wafer-level CSP solutions that don’t obtain sense in the foundry space. The OSAT can execute a better job.”

    Ron Huemoeller, corporate vice president of Amkor and head of corporate R&D, likewise sees immense changes and challenges in the OSAT industry.

    “It’s a changing competitive environment and the OSAT market continues to narrow at the top, with only two OSATs remaining dominant in all phases of technology, ASE and Amkor, following the merger of SPIL and ASE. With fewer choices, more dependence on the premier OSATs is inevitable. It is well-known to note that developing and manufacturing current package platforms is expensive, and it requires a lofty degree of engineering expertise. It also requires perpetual funding in R&D to maintain competitiveness. Adding current blocks of capacity is very expensive – continually challenging ROI.”

    Whether that will lead to more consolidation, and how quickly, remains to exist seen.

    “The OSAT business requires scale,” says Prasad Dhond, Amkor’s vice president and universal manager of automotive. “There will continue to exist some even of consolidation as players try to combine their resources to compete. This might now exist more applicable to the smaller (Tier 2 and Tier 3) players, though. Foundries are making a push into unavoidable segments of high-end packaging. They view this as an break to cross-sell additional services and also to obtain their business stickier. However, from a fundamental business model standpoint, packaging margins are lower than what foundries are used to. It is not clear if foundries will exist willing to obtain weighty CapEx investments in packaging when they could exist using the capital for something else.”

    So does that move everyone will co-exist in their own space?

    “One of the key aspects of foundry success in entering into the OSAT market segment is the bundling of their silicon with advanced packaging technology,” Huemoeller observes. “They secure the silicon sale by attaching it to the package technology. Foundries and OSATs are key components of the ecosystem. The foundries won’t engage in all aspects of the assembly and test business. There are niche areas they will play in, but there will always exist a exigency for them to toil with OSATs for other applications and if volumes exceed unavoidable thresholds.”

    Behind the ASE-SPIL dealIn its 20-F filing with the Securities and Exchange Commission for 2017, ASE provided an in-depth peer at market pressures and developments in this space.

    “We fill significantly expanded their operations through both organic growth and acquisitions in recent years,” ASE says. “For example, they acquired the controlling interest of Universal Scientific in 2010 to expand their product offering scope to electronic manufacturing services; they also entered into a joint venture agreement with TDK Corporation in May 2015 to further expand their business in embedded substrates; in June 2016, they entered into the Joint partake Exchange Agreement with SPIL to Take advantage of the synergy upshot of business combination between SPIL and us; furthermore, they entered into a joint venture agreement with Qualcomm Incorporated in February 2018 to expand their SiP business. They await that they will continue to expand their operations in the future. The purpose of their expansion is mainly to provide total solutions to existing customers or to attract current customers and broaden their product range for a variety of end-use applications. However, rapid expansion may set a strain on their managerial, technical, financial, operational and other resources. As a result of their expansion, they fill implemented and will continue to implement additional operational and fiscal controls and hire and train additional personnel. Any failure to manage their growth effectively could lead to inefficiencies and redundancies and result in reduced growth prospects and profitability.”

    It adds, “The successful consummation of the SPIL Acquisition is topic to a number of factors, including, among other things, obtaining all necessary antitrust or other regulatory approvals in Taiwan, the United States, the PRC and other jurisdictions where they execute business. They received a no-objection epistle in respect of the partake Exchange from the TFTC on November 16, 2016. On May 15, 2017, they received a epistle from the FTC confirming that the non-public investigation on the partake Exchange has been closed. On November 24, 2017, they received approval from the Ministry of Commerce of the People’s Republic of China (MOFCOM) for the partake Exchange under the condition that ASE and SPIL maintain independent operations, among other conditions, for 24 months. In the event these conditions cannot exist satisfied, they may re-evaluate their interest in SPIL and may consider, among other legally permissible alternatives, to dispose their SPIL shares at a loss, which may significantly move their fiscal position. Notwithstanding the above, even if they are successful in consummating the SPIL Acquisition, they will exist topic to regulatory restrictions requiring us to maintain divide operation of SPIL for a era of time, and they may kisser challenges in successfully integrating SPIL into their existing organization or in realizing anticipated benefits and cost synergies afterwards. Each of these risks could fill a material adverse upshot on their business and operations, including their relationship with customers, suppliers, employees and other constituencies, or otherwise adversely move their fiscal condition and results of operations.”

    The 20-F says, “The packaging and testing business is capital-intensive. They will exigency capital to fund the expansion of their facilities as well as fund their research and evolution activities in order to remain competitive. They believe that their existing cash, marketable securities, expected cash flux from operations and existing credit lines under their loan facilities will exist enough to meet their capital expenditures, working capital, cash obligations under their existing debt and lease arrangements, and other requirements for at least the next twelve months. However, future capacity expansions or market or other developments may cause us to require additional funds…If they are unable to obtain funding in a timely manner or on acceptable terms, their results of operations and fiscal conditions may exist materially and adversely affected.”

    ASE has a co-opetition relationship with TSMC. The two companies fill had a “strategic alliance” since 1997. ASE serves as the foundry’s non-exclusive, preferred provider of packaging and testing services for microchips fabricated by TSMC.

    ConclusionWhile OSATs will fill one larger competitor to deal with in the near future, those companies peer forward to the fray. TSMC’s muscling in on the high-end packaging business, especially when it comes to Apple’s custom application processors for the iPhone and the iPad, is a competitive challenge.

    Yet OSATs retain expertise in the areas of SiP modules, molded interconnect substrates, substrate-like printed circuit boards, semiconductor embedded in substrate, and other emerging technologies. And while competition continues to ratchet up, there are always current opportunities around the edges for companies with the expertise and investment dollars to continue eking out a hardy living.

    Related StoriesMIS Packaging Takes OffMolded interconnect substrate emerges as packaging option for analog, power ICs and cryptocurrency chips.Toward High-End Fan-OutsDenser interconnects, stacked die could compete 2.5D approaches.What Next For OSATsASE’s COO opens up on the future of fan-out, growth prospects, and where the next opportunities will account for up.

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