Evolis, a provider of decentralized issuance systems of payment cards, and CPI Card Group, a provider of financial and EMV chip card production and related services, have extended their partnership agreement to provide US banks with the EMV-capable instant card issuance solution Card@Once.
Evolis, a provider of decentralized issuance systems of payment cards, and CPI Card Group, a provider of financial and EMV chip card production and related services, have extended their partnership agreement to provide US banks with the EMV-capable instant card issuance solution Card@Once. CPI Card Group and Evolis have been partnering since 2011 to provide CPI's patented instant issuance solution, Card@Once, which has been deployed by thousands of bank branches throughout the United States.
Card issuers leveraging the Card@Once solution can issue a fully functioning, personalized EMV debit or credit card immediately after opening a bank account or to replace a lost or stolen card. Facing the challenge of digital disruption, many financial institutions are looking to bring more innovative services into their traditional network. The in-branch personalization of payment cards allows a bank to issue a debit or credit card in a few minutes. Instant issuance has many benefits: banks achieve more operational flexibility through a decentralized solution while reducing their shipping costs, and customers benefit from fast and more convenient service.
The secured card personalization device developed by Evolis enables CPI to offer a fully managed instant issuance service that can be deployed without the need to install any software at the card issuer. Thanks to the high reliability and remote monitoring capabilities of Evolis card printers, the Card@Once solution benefits from an unmatched uptime of 99.8 percent.
Facilitator for the EMV migration process
Card@Once, which is PCI DSS compliant, is one of the few EMV-capable instant card issuance solutions available in the US market. Evolis foresees a strong growth in the demand for instant issuance solutions in the coming years, mainly driven by the current EMV card migration. Through this partnership, CPI continues to be well positioned to address the needs of card issuers.
"Consumers today expect banks and credit unions to provide products that are both convenient and cutting-edge in terms of security, which today means seamlessly building in EMV capabilities into debit and credit cards," said Troy Bernard, Director, EMV and Emerging Products at CPI Card Group. "Through our partnership with Evolis we are able to offer an instant issuance solution that raises the bar in terms of quality and reliability for our customers and the consumers they serve."