Business operations and consumer interactions with their finances have changed since the COVID-19 pandemic. Credit unions are revisiting the branch experience and considering updated technology and conversions to contactless to provide a touch-free payment experience. Instant card issuance can enable issuers to provide new or replacement payment cards to members in branch, with EMV® or dual interface contactless capability, quickly and conveniently.
To get started, identify the type of hosting model from which to build your instant issuance card program. For many years, financial institutions had only one choice: Software-for-Purchase (SFP). There are six compelling reasons why a secure cloud-based Software-as-a-Service (SaaS) model is a solid choice:
The benefits of instant issuance are clear and can provide credit unions with advantages over the competition. With the flexibility, cost-effectiveness, and fast implementation of the SaaS cloud-based model, credit unions can serve members with speed and convenience.
ROB DIXON is director of product and business development at CPI Card Group.
EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.