In recent years, much of the focus for instant issuance solutions of payment cards shifted from educating credit unions on its benefits to helping enhancing its on-demand convenience for members.
Instant issuance for new starts and reissues gives members reasons to visit credit unions, which can then deliver securely-activated payment cards directly to them. The question becomes how to set up the infrastructure: software-for-purchase (in-house) or software-as-a-service process (outsourced).
Rob Dixon, head of product and business development for the Littleton, Colo.-based CPI Card Group’s Card@Once solution held, when a credit union looks at an instant issuance program, there’s several business case drivers to choose from including higher activation and utilization.
The average time to receive a shipped physical card from most financial institutions is seven to 10 days. In addition, consumers getting their card by mail don’t always activate it immediately, which obviously diminishes transactions and the fees associated with them.
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