Industry-wide reliance on instant card issuance continues to grow
Increased interchange revenue by 45 percent within the first 30 days;
Increased transactions by 28 percent within the first six months;
Saved more than $7,300 in total card production costs within the first
Increased average transactions per month by 22 percent within the
first year; and
Increased total active cards by 20 percent within the first year.
NASHVILLE, Tenn.--(BUSINESS WIRE)--
Source announced that since April 2013, it has realized a 211
percent increase in the total number of financial institutions using its
patented, EMV-capable instant issuance solution, Card@Once.
The company is a provider of turnkey card programs and personalization
services for ATM and debit cards for financial institutions.
Card@Once seamlessly integrates with core systems, eliminating the need
for financial institutions to develop a full infrastructure to support
instant issuance and enabling them to deliver fully functioning, payment
cards to customers within seconds. When new or replacement cards are
requested, the information is securely transferred from the branch
location to EFT Source where it is processed into an encrypted print
file and returned electronically. Card@Once encodes the data and prints
the card, allowing the customer to walk away with a ready-to-use,
permanent debit card.
In Mercator Advisory Group’s recent report, “Instance
Issuance of Debit Cards: The Newest Best Practice,” Ron Mazursky,
director of Debit Advisory Services at Mercator, said, “The question is
no longer whether, but when, financial institutions in the United States
will adopt the practice of instant issuance of debit cards.” EFT
Source’s continued growth of its customer base is evidence of the
industry’s increasing reliance on instant issuance.
Since 2013, financial institutions have leveraged EFT Source and
Card@Once to realize numerous benefits, including:
“Due to its ability to cut costs, increase interchange revenue and boost
customer loyalty, instant issuance has gained significant momentum –
especially within the last year. Our growing customer base is a
testament of that,” said Bill Dinker, president of EFT Source. “As a
Software-as-a-Service, Card@Once bypasses price and security concerns,
providing banks and credit unions with a powerful tool that can be
quickly adopted to strengthen business.”
About EFT Source Inc.
Established in 1977, EFT Source provides financial institutions with
turnkey card programs and secure personalization of ATM and debit cards
– from conceptual art to creative fulfillment services. Based in
Nashville, Tenn., EFT Source also has a production facility in Colorado
Springs, Colo., and a facility in Green Bay, Wis. that focuses on
marketing and print services. For more information, visit www.eftsource.com.
For EFT Source, Inc.
Michael Touchton, 678-781-7215
Source: EFT Source Inc.