News
Colorado State's new card combines ID with debit services
Dynamic Card Solutions, developer of CardWizard®, the leading instant issue and PIN selection software application for financial institutions, today announced that the company’s solution can now be used by financial institutions and their retail partners to issue chip-based Visa® and MasterCard® co-branded credit cards instantly at retail store locations.
Trusted by over 400 financial institutions that issue ATM, debit, credit and prepaid cards, DCS' CardWizard now offers significant value to financial institutions looking to offer co-branded EMV credit cards with retailers by increasing profits for both parties.
Integrating seamlessly with core applications, card management systems and data preparation systems, DCS makes it easy for retail stores to quickly set up individual kiosks or member service areas in store or franchise locations. As with traditional credit cards, customers who want to sign up for an EMV credit card must complete the application process. Once approved, the customer instantly receives a personalized, activated EMV store credit card that can be used for a store purchase within the same visit. Retailers have the option to attach store promotions, reward programs or first-time discounts to individual cards which increases the sales penetration of the card program.
“Thanks to contactless and EMV cards capabilities, many financial institutions and retailers are recognizing the benefits of transitioning from magnetic stripe cards to smart card solutions which increase security and add multi-application functionality to their cards,” said Spencer Clark, director of international markets for DCS.
Instantly issuing EMV credit cards at the branch or in retail point of sale locations eliminates the cost of hiring a third party vendor to issue a plastic card as well as associated delivery risks and costs. With instant issuance—which requires customers to present identification in order to receive a new or replacement card—financial institutions provide an added level of security to protect customers' personal and financial information.
Additionally, by allowing retail customers to offer instantly issued chip-based credit cards, financial institutions can begin to recognize the benefit of interchange revenue sooner because customers have instant access to the open-loop credit cards.
For more information about DCS' instant issuance technology, visit www.instantissuance.com.
Contacts
Dynamic Card Solutions
Kristin Eckmann, 303-840-4428
eckmann@instantissuance.com