February 8, 2022
The Digital Card Issuance Opportunity
BY DAWN SIRRAS ON FEBRUARY 8, 2022
Our world is becoming more and more digitally inclusive by the moment. Consumers have flocked to ordering groceries and take out through digital channels. Employers are embracing digital workforces with Zoom meetings and Slack huddles becoming mainstays. The payments industry is no exception to this trend.
Consumers expect real-time, automated, easy transactions when it comes to purchasing and even receipt of payment cards.
While in-branch instant card issuance sought to address consumer demand for timely access to new cards, it still lacks the flexibility consumers desire for usability. Digital card issuance may just be the answer to not only close that gap but also present a unique opportunity to revolutionize the way members interact with their credit union.
What is Digital Issuance?
Differing from instant card issuance, where payment cards can be immediately issued to a consumer when they head into a branch, digital issuance removes the need for physical interaction by issuing a card’s credentials straight to the consumer’s mobile wallet or mobile banking app. The consumer has immediate access to the card to begin making purchases.