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PEGACLSA_6.2V2 Certified Lead System Architect (CLSA) 62V2

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

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

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Pegasystems Certified Lead System Architect

PEGA roles. | killexams.com actual Questions and Pass4sure dumps

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

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

Pega systems concerned such titles to highlight utility is build by course 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 soundless benefit it;

certified Senior gadget Architect (CSSA) -can moreover subsist 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 level are IT/Pega event, knowledge of applied sciences (Oracle tools,Programming, application server);

In Pega ‘Architect’ doesn't equal to ‘Developer’ .There are examples of projects the site complete 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 comprise 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 moreover subsist followed on PDN -Pega developers network web site. Your travel complete the time begins from the 1st step -CSA, then that you would subsist able to select 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 subsist measured and analyzed . i would subsist 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 | killexams.com actual Questions and Pass4sure dumps

  • ST33 1B milestoneST33 relaxed component combines efficacious cyber-insurance draw 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 flexible structure has enabled ST to lead the building 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 benign elements, combining convenience with powerful resistance to cyber-attacks.

    "ST33 chips maintain pushed the evolution of embedded security for the ubiquitous related sane objects equivalent to smartphones, wearables, and IoT contraptions that gain synchronous world work," illustrious 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 glimmer 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 consume 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 considerable smartphone OEMs to install fresh eSIM based mostly instruments, taking knowledge of a smaller and thinner WLCSP (Wafer degree Chip Scale package) apparatus and GSMA-compliant Personalization-on-Wafer industrial movement.

    In 2018, ST became the primary chip brand to merit 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 mammoth scope 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 current 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 pick up more from lifestyles, ST stands for complete times.augmented.

    In 2018, the business's web revenues maintain been $9.66 billion, serving more than one hundred,000 valued clientele worldwide. further tips can moreover subsist discovered at www.st.com.

     

    For more information gratify contact:

    STMicroelectronicsMichael MarkowitzDirector Technical Media RelationsMichael.Markowitz@st.com+1 781 591 0354

    [1] ST33 apparatus versions meet elevated 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.

    Attachments


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

    This attach 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 progress and progress of industrial interiors and tenant areas that present a heathy, sustainable and productive drudgery 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 considerable of CNH Architects. In her mature drudgery 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 section 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 second working on assorted tasks at CNH, together with a fireplace station, corporate café, church, day charge and a brace 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 excessive 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 charge and animal charge 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 attach up are the author's own. need to submit on Patch? Register for a user account.


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    Citrix Systems Management Discusses Q3 2013 Results - Earnings convene Transcript | killexams.com actual questions and Pass4sure dumps

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

    Mastercard Incorporated - Special convene | killexams.com 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 cognomen is Catherine, and I will subsist your operator for today. [Operator Instructions] As a reminder, this convene is being recorded for replay purposes.

    I would fancy to turn the convene over to Ms. Barbara Gasper, Head of Investor Relations. gratify proceed, ma'am.

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

    The press release on terminal night's announcement can subsist organize on the Investor Relations section of their website, mastercard.com. They maintain moreover posted some hotlinks to a few things that Ed will advert to in his remarks. Also, a replay of this convene will subsist posted to their website for one week through May 15.

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

    With that, I'll now turn the convene over to Ed McLaughlin. Ed?

    Thanks, Barbara, and yes, we're calling here from CTIA in fresh Orleans, which if you're not familiar with, it is one of the largest global telecom events for the year. terminal night, they announced the PayPass Wallet Services, and we've gotten much response so far. Also, in about 2 hours, we're going to subsist demonstrating the PayPass Wallet Services to probably a few thousand people as section of Gary Flood's keynote here at the conference. And this will subsist streamed live if you'd fancy to see it in action. They attach 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 maintain the keynote streaming.

    But first, let's remove a tiny bit of time to follow up on any questions you may maintain on the wallet services announcement from terminal night. So I believe 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 fresh 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 subsist faster, simpler and more secure for consumers to gain purchases, both in-store or online, with a click of the mouse, palpate on the tablet or tap their smartphone.

    The PayPass Wallet Services are comprised of 3 distinct components: the first would subsist is enhanced merchant payment acceptance capability, which includes both their PayPass Contactless NFC technology for in-store and a fresh 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 turn more browsers into buyers. It eliminates the need for customers' particular bit -- to enter particular shipping, card and other information. And that's a much benefit, particularly when you're on diminutive or mobile script.

    The PayPass acceptance benefits are moreover specifically designed to subsist very simple for merchants to integrate into their current store and online business. They accept MasterCard today. It's very light 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 maintain with their customers, not meddle with them. So for example, consumers could consume the identical login and applications they maintain today from their bank and seamlessly pick up much fresh payment capabilities and other service.

    The wallet is moreover open so consumers will subsist able to consume 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 subsist any number of wallets the consumers can consume that will remove handicap 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 gain purchases wherever PayPass is accepted, online or in-store.

    And finally over time, the wallet services will subsist expanded to comprise other value-added services fancy 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 fancy to remove a second 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 subsist able to pick up one. And as I mentioned earlier, the PayPass Wallet is designed to subsist white-labeled and branded by monetary 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 routine of distribution will subsist through their partners, we're actively testing the PayPass Wallet with their employees, and they will maintain it live later this year on paypass.com.

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

    As they want to emphasize, the PayPass Wallet Services are designed to enhance, not to meddle with, the relationship their banks and other partners maintain with their customers today. They believe the integration model will moreover greatly accelerate the achieve to consumers they can bring to merchants, so the merchants can remove handicap of a better checkout undergo online and in-store. We've been working closely with merchants to design the service, particularly to gain 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 moreover 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 fancy Ogone, Sage Pay and CardinalCommerce. And as you've already seen with the drudgery we're doing with Isis, with Google, with others, there will subsist ongoing announcements of places and partners where the PayPass services will subsist used with digital wallet.

    Another question which came up is, so why did you Go with the PayPass branding to the digital service? And the reply is pretty simple. They asked consumers. They loved the ease and convenience of Tap & Go 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 moreover 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 maintain shipped home or any other combination in between from any digital device they may maintain in any account. Their converged PayPass digital wallet services provide a secure course 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 maintain today. How does my existing apparatus apply? And the worthy advice is, PayPass Online, the online shopping component, can drudgery purely browser-based, so you can consume 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 subsist a commerce device. This is really an infrastructure that enables it.

    Now to consume the PayPass Contactless in-store directly from the phone, the phone will need to subsist able to support and secure NFC transaction. And I believe you saw terminal week, the PayPass ready certification program they announced, working with handset manufacturers fancy Samsung, HTC, Nokia, RIM and others to gain certain as their fresh NFC-equipped smartphone achieve to market, they're complete ready for PayPass enablement.

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

    And of course, what's the economic model? How does MasterCard gain money in complete of it? And the PayPass Wallet Services we've just announced are natural extensions of their business model, optimized to digital world. First, they augment their volumes and transactions as they capture more partake of consumers disburse on MasterCard, particularly in the e-commerce space. Second, in the future, they add fresh features such as inControl and they charge 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 pick up 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 gain it complete work. They maintain always been supportive of economic system, and this takes the MasterCard business model and simply extends it to support complete of these fresh device.

    And the terminal considerable question is when will complete this subsist in the market? And as I said at their Investors Day terminal 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 maintain seen, we've been working with partners already fancy 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 subsist 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 fancy 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 tiny bit of a feel for what the wallet services are and directly address some of the questions I know you may maintain had.

    So with that, Barbara, I believe they soundless maintain some time to open it up for more questions.

    Barbara Gasper

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

    Question-and-Answer Session

    Operator

    [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 wait on us what differentiates the MasterCard Wallet versus V.me 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 sight at V.me, there maintain been quite a few announcements for Visa Inc. and Visa Europe. So the specifics on the initiatives, I really maintain to shelve for them. But from a MasterCard perspective, what they want to attain is design these services for integration. We're not trying to pick up in front of their partners' brands but rather enable commerce to happen, and that's very considerable for merchants. We've moreover been emphasizing the ease of the immigration for the merchant, gain it very light for them, they accept the MasterCard today, inaugurate working with the wallet service. But unlike some of the other initiatives you've seen out there, I don't maintain to rewire my settlement systems or address my consumers in a fresh way. The other thing that's considerable for consumers is the PayPass Wallet Services delivered genuine digital card transaction. So complete of my liability rights, my settlement guarantees, my rewards and other things are there. So I'm not subject to some sort of transaction randomization or other things that may meddle with the transaction itself. And probably the most unique feature is rather than saying there's going to subsist 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. believe of it almost as the digital equivalent of the lower right-hand side of the card. We're giving merchants a much acceptance undergo 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 consume 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 pick up to scale. But it's also, though, where they allow consumers to pick up any number of experiences environment that are specifically tailored for the relationship they maintain with that partner. So being able to consume the identical login that they consume for my mobile banking application and not having to learn something else is a much benefit. Being able to pick up actual monetary 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 building a network of wallet and adding a lot of value to merchant. The terminal piece I would emphasize is this convergence that's going on privilege now. And merchants will interpret you, I'm not e-commerce or in-store, it's both, but sometimes even both simultaneously. Because the extraordinary 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 turn 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.

    Operator

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

    Darrin D. Peller - Barclays Capital, Research Division

    Ed, while the wallet consume in physical point-of-sale in NFC terms is probably soundless some time off during that need for acceptance at point-of-sale. Can they await to see the click-to-buy online trudge more quickly and enable materially increases in your online market volume, maybe remove partake from PayPal? And then how light is it for online merchants to really accept it? How many merchants online attain you need to maintain for this to subsist a broad acceptance of scale where consumers are comfortable using it?

    Edward McLaughlin

    Yes, they see several things happening there. One of the primary is there's been a lot of shift in behavior. I'm certain 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 shape 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 see for that, and moreover because where a lot of the shopping is today is using these device to Go online. They attain believe that's where you'll see a lot of the initial usage. But I wouldn't discount in any course the PayPass in-store. We've had 40% growth in just the terminal year in the number of merchant that are adopting to over 400,000 merchants. They maintain countries fancy Canada, where over 10% of their transactions are already contactless. And this is something we've been working on. If you sight 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 moreover for contact and contactless. Just fancy they saw in Canada and other markets, merchants don't maintain to retrofit their apparatus to attain this, but it will subsist section of their natural upgrade cycle. So they see 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 maintain mobile and other devices supported seamlessly to tell.

    Operator

    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 maintain many, many, many branded wallets offered by consumers, respective banks around the world, how attain you handle the targeted marketing that the merchant might want to attain into the wallet but you maintain 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 subsist using the acceptance sequel will complete subsist connected to the MasterCard network. So you may maintain seen with the offer services they maintain today where it's offered through specific destinations, but it moreover has the ability to publish out. So it will provide a distribution channel for merchants. Now the specific consumer undergo will subsist up to their partner, and they await there'll subsist a lot of tailored experiences out there. So consumers can select 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 moreover for other services.

    Operator

    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 maintain wallet capabilities. So can you give us a sense -- you listed a bunch of banks that maintain signed on from the get-go. What percent of those already maintain 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 maintain 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 maintain wallet initiatives and they embraced, they fancy the conception that we're building an open acceptance network to allow that wallet to subsist that much easier to consume at a wide scope of merchants. They maintain other institutions that vow they're interested in the white label now, but may progress to their in-house version later, which they believe is great. I attain believe in the future, they may maintain some banks that maintain attach this side of application in site and realized it into scale and will subsist looking for on-behalf services from MasterCard. So that's the key to the architecture that they maintain here. They can either provide this on-behalf services or link in to what monetary institutions they have. And economics and timing are really going to drive complete of these in position. But I wouldn't vow it's 100% yet?

    Operator

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

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

    Can you talk at complete about sort of the future as you see -- I fancy the open architecture. I just wanted to know if you believe that in the future when we're shopping online, attain complete these wallets pick up integrated, fancy what if I had a MasterCard account at 2 different monetary institutions, what if I maintain a Visa account online? How attain they see the future? Obviously, we're not going to maintain that many wallets. Does your product actually give the chance to consume different passwords to access different institutions but complete linked into the identical wallet?

    Edward McLaughlin

    I believe what you see there, I pick up to consume the word disambiguation into that, which is great, but consumers may maintain more than one wallet, just fancy you may maintain more than 1 car for whatever reason that you do. So when they pick up 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 believe you're absolutely right. What merchants want to say, is want to provide this mechanism. And that's why it really is fancy the acceptance drudgery that we've always done and know that a consumer has a wallet that is participating in the network, I can consume it anywhere they see. So it really a natural extension of that. I believe the relationship that banks and partners maintain with consumers will just subsist enhanced to incorporate online shopping and a lot of the benefit that they maintain and people will naturally orient towards you serving them back.

    Operator

    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 believe about or wait on us believe about what this means for your efforts, along with Google Wallet, as you guys believe about the mobile efforts there? And then in terms of competition in the online world, is the competition purely aimed at benign of sort of one-click effort, I guess, either, obviously, would subsist the most pertinent there. So I'm just trying to believe about the competitive dynamics both against Google Wallet and the eBay PayPal?

    Edward McLaughlin

    Sure. I'm really joyful you asked because what we're doing with Google, what you're doing with Isis, the drudgery we're doing with their other technology partners, this is complete section 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 drudgery better, by generating the value from MasterCard, that's what's best for people who maintain MasterCards today. That's what's best for their organization. That's an considerable section of their strategy. And I believe the other thing which is important, when you sight at any specific course of interacting, whether it's the online button, the tap in the store or any of the other things you'd see coming out of MasterCard Lat, in my mind, it's not that transaction itself, it's the overall MasterCard number. The account you maintain and the relationship you have. So I think, while there's a battle for who has that solitary online transaction, it benign of missed as a consumer and what we're building for. And the reason they talk about this converging world is this is already happening. I could subsist in my cab -- in a cab on with my mobile shopping online. I tap to pick up out of the cab, and when I pick up 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 much because I pick up to consume whatever interface makes the most sense for whatever specific I'm trying to do, but it's complete tied back to the identical account, complete handled by the MasterCard network. They maintain the identical rights and rules and everything that comes from genuine MasterCard transactions. So I don't believe there's a battle for specific transactions. It's really was providing what's best for consumers in complete of the environments they want to shop. And their ability to give better experiences and more secure experiences online in your fresh NFC-enabled handset, that's soundless anchored on the much acceptance they maintain in the plastic world today, which people love. That's really the strength across the board, so I wouldn't focus on much on one specific edge device or transaction key.

    Operator

    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 nosy if you could talk about within the wallet, there's often the talk of slotting fees for hosting cards and then the battle to subsist top of wallet. Could you talk about that concept and then to what degree that is moreover a section of the economic model for the products you've launched?

    Edward McLaughlin

    Yes, and I said earlier, they see this as just a analytic extension of MasterCard's business model. And you attain need to subsist heedful with some of the proposals we've seen out in the marketplace for aggressive routing of consumers transaction and forcing them and complete of that. They believe the consumer absolutely has to select how they're paying and how they want to pay, and this is designed to enable them. So again, if you believe this from a MasterCard perspective, we'll maintain the ability to provide on-behalf services. We'll subsist generating a lot of value in fresh transactions for merchant, and I really see that as the basis for the economics year. And if you attain a much job for merchants and reducing dropout, reducing queue time, driving more sales and give consumers the undergo the really want, the bits in the middle will sort themselves out.

    Operator

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

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

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

    Edward McLaughlin

    We maintain thoughts for that, and I believe they maintain a much strength as they you can consume 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 consume 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 Go in at Home Depot today and tap my PayPass-enabled smartphone and it works great. The other thing is, if you sight at, as I said earlier, markets fancy 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 moreover will see millions of NFC-enabled handsets coming into the market, if you sight at their PayPass ready certification program that they moreover talked about terminal week. And the terminal 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 much piece of research, and those types of value are what drives decision. Carrefour, one of their mammoth retail partners, they said they were getting 20% to 40% faster time through queue using PayPass. So obviously, they moved complete their store loyalty and other cards to remove handicap of contactless. And to your captious point, the captious mass, I can consume it today in any cab in fresh York. And so it becomes a near daily transaction for me when I'm around the city. But attain you believe it's something to build over time? I attain think, as they said earlier, rather than trying to retrofit gear for a solitary value proposition. This is going to subsist section of the balanced upgrade cycle. complete of the major terminal manufacturers are including contactless as far as their measure mill. complete of the incentives and the model they maintain to provide benefit for the adoption of EMV incorporates moving both contact and contactless. I believe the actual answers will subsist more than ready when consumers and the apparatus are.

    Operator

    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 see 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 course you see the physical point-of-sale as it gets connected to your wallet?

    Edward McLaughlin

    Well, I guess, from a MasterCard perspective, it's hard to see using a physical card that point-of-sale is breakthrough fresh innovation. You can always consume your card. They maintain 31 million merchant locations globally that drudgery flawlessly with the cards you maintain today, and it's complete against the identical account. So the digital is simply a course of having a virtual version of that card, if you will, that could subsist optimized for online and in-store shopping. So that's why I want to pick up back to this converged experience. As a consumer, MasterCard is providing a much option that can consume that card anywhere, anywhere MasterCard is accepted today. As you know, that's a much experience. And they can gain it even better, even simpler, even more secure with allowing PayPass Tap & Go or PayPass Online. But they're complete just more secure, simpler and smarter ways to consume the identical account that you have. So as a consumer, it's exactly what I want. I pick up one set of alerts. I pick up one course of -- one account that I access in any number of ways that makes sense. So what they believe about the future, they maintain sort of as of yet unimagined edge device in the network. And what that really means is how attain they bring the value of the MasterCard network and bring that undergo to consumers. So I'm really not worried about people trying to recreate or replace the plastic undergo they maintain at the point-of-sale. We've been protecting that for 30 years. This is about extending into the fresh environment.

    Barbara Gasper

    Thank you, Ed, for taking time out of your sedulous schedule this morning to combine us, and thanks to everybody who's on the call. They hope that you will subsist able to listen in to Gary Flood's keynote address at about 11:20 fresh York time today, where you can see a demonstration of this technology. And as always, if you maintain further questions, gratify don't falter to achieve out to Investor Relations. Thanks, and maintain a much day.

    Operator

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

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    More From Seeking Alpha


    OSAT Consolidation Continues | killexams.com actual questions and Pass4sure dumps

    Advanced Semiconductor Engineering (ASE) and Siliconware Precision Industries Ltd. (SPIL) are surge 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 fresh York Stock Exchange. ASE Industrial Holding serves as the parent company for ASE and SPIL. But the merger is almost certain 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 modest of $9.8 billion. While that may look fancy a lot of money, compared with many segments in the technology world it’s a tight 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 maintain pressed into chip packaging and testing services for several years now. There are moreover internal assembly and testing operations at some of the bigger semiconductor vendors, such as Intel, Samsung Electronics, and Texas Instruments, that remove away certain 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 mammoth customer, and integrated device manufacturers are moreover 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 shape of charge pressure. Because the OSATs want to withhold up the volume; their pricing is a much tougher environment. If you sight at those two trends, you see people probably want to pick up bigger, they want to subsist operating in China, they want to subsist more competitive. The cycle in R&D is to pick up back that high-end business, and there are a number of things pushing in those directions. If you sight at the OSAT business terminal year, there was growth, but nothing spectacular. Then, you sight at the assembly apparatus demand, which was spectacularly hot, which means a lot of apparatus 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 subsist involved in integration initiatives in the near future, according to Puhakka. “The bigger question is, what will Amkor do? What will JCET do? The mammoth players may want to buy from China. That’s not out of the question, but there would subsist some regulatory hurdles, I would imagine, to attain that.”

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

    “It is a market not to subsist ignored,” he says. “It just that you maintain the Chinese regulations, the requirement of joint ventures and technology transfers. It makes people very uneasy to attain something fancy that. Those kinds of actions maintain limited how much business transfers to China. If you’re operating in China, you maintain 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 trudge 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 drudgery in the assembly, package and test world, which serves the semiconductor companies.

    “It was certainly no surprise 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 moreover serves as executive vice president and chief sales officer for STATS ChipPAC. “It’s benign of inevitable that they would see this at the OSAT level. Clearly, we’re a section of that as well, as they are now a section of the JCET Group. What does it subsist of value for the competition? As a company, they embrace this change, and they see many opportunities arising due to this merger. There are many semiconductor companies, their customers, who see a combined market partake of ASE and SPIL within their own TAM. I convene it unhealthy, or maybe a tiny 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 spoiled thing for this very competitive OSAT industry.”

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

    “In the OSAT space, while I attain await us to follow the trend, they won’t see quite the pace. There is soundless a desultory to see 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 diminutive players are not always of interest for M&A for the larger OSAT because the return you pick up versus the alternative of just competing for the business—when you sight at that and the ROI and the deal around that, it doesn’t achieve 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 level in the larger OSATs to drive M&A with smaller ones.”

    So rather than accelerating consolidation, consolidation among OSATs actually could tedious 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 worthy proper for those products. They’re investing in the back end, and they’re doing it in a course that makes sense to their business. And it lets them optimize their overall business model. I see 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 need to accommodate to that.”

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

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

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

    “When these higher-level solutions involve multiple die, multiple devices, and you need to integrate at the packaging level to create a packaging-level solution, suddenly you need the abilities of OSATs, where in the past you might maintain 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 elevated yield. And those are complete things that they play well in. We’re starting to see 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 need to find your strengths, find where your capabilities can let you grab share, and then Go for that. Even in wafer-level, where the foundries maintain the very sturdy solutions for some of these processors, they maintain their own fan-out wafer-level and wafer-level CSP solutions that don’t gain sense in the foundry space. The OSAT can attain a better job.”

    Ron Huemoeller, corporate vice president of Amkor and head of corporate R&D, likewise sees mammoth 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 preponderant in complete 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 considerable to note that developing and manufacturing fresh package platforms is expensive, and it requires a elevated degree of engineering expertise. It moreover requires perpetual funding in R&D to maintain competitiveness. Adding fresh blocks of capacity is very expensive – continually challenging ROI.”

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

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

    So does that subsist of value 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 complete aspects of the assembly and test business. There are niche areas they will play in, but there will always subsist a need for them to drudgery with OSATs for other applications and if volumes exceed certain thresholds.”

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

    “We maintain 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 moreover 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 remove handicap of the synergy sequel 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 fresh customers and broaden their product scope for a variety of end-use applications. However, rapid expansion may site a strain on their managerial, technical, financial, operational and other resources. As a result of their expansion, they maintain implemented and will continue to implement additional operational and monetary 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 subject to a number of factors, including, among other things, obtaining complete necessary antitrust or other regulatory approvals in Taiwan, the United States, the PRC and other jurisdictions where they attain 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 subsist 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 palpate their monetary position. Notwithstanding the above, even if they are successful in consummating the SPIL Acquisition, they will subsist subject to regulatory restrictions requiring us to maintain divide operation of SPIL for a epoch of time, and they may countenance challenges in successfully integrating SPIL into their existing organization or in realizing anticipated benefits and cost synergies afterwards. Each of these risks could maintain a material adverse sequel on their business and operations, including their relationship with customers, suppliers, employees and other constituencies, or otherwise adversely palpate their monetary condition and results of operations.”

    The 20-F says, “The packaging and testing business is capital-intensive. They will need capital to fund the expansion of their facilities as well as fund their research and progress activities in order to remain competitive. They believe that their existing cash, marketable securities, expected cash flood from operations and existing credit lines under their loan facilities will subsist 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 occasions 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 monetary conditions may subsist materially and adversely affected.”

    ASE has a co-opetition relationship with TSMC. The two companies maintain 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 maintain one larger competitor to deal with in the near future, those companies sight 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 fresh opportunities around the edges for companies with the expertise and investment dollars to continue eking out a wholesome living.

    Related StoriesMIS Packaging Takes OffMolded interconnect substrate emerges as packaging altenative for analog, power ICs and cryptocurrency chips.Toward High-End Fan-OutsDenser interconnects, stacked die could rival 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 expose up.



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