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August 27, 2010

DCS partners US credit union for instant issuance

Payment solutions provider Dynamic Card Solutions (DCS) has signed a deal with American Eagle Federal Credit Union to supply its instant issuance technology and personalisation service, 'CardWizard'.

By Verdict Staff

Payment solutions provider Dynamic Card Solutions (DCS) has signed a deal with American Eagle Federal Credit Union to supply its instant issuance technology and personalisation service, ‘CardWizard’.

Instant issuance means consumers receive their card immediately in-branch when opening an account, a contrast to the traditional process of receiving it by post.

DCS’ ‘CardWizard’ program and FCP 20/20 flat card printers will instantly issue unembossed personalised Visa debit cards at the branch level.

“We are very pleased that American Eagle Federal Credit Union selected DCS as their instant issue vendor of choice,” said Ron Zanotti, senior vice president of DCS.

“Our sustained customer growth is a significant sign that more and more financial institutions are recognizing instant issuance as highly beneficial for building better customer relationships and loyalty.”

A study commissioned by US ATM network operator PULSE recently revealed that instant issuance technology is one of the key tactics card issuers are implementing to encourage greater use of debit cards.

The 2010 Debit Issuer Study found that 35% of issuers offered instant issuance in either some or all of their branches last year, up from 28% in 2008. Additionally those institutions considering deployment of the technology increased to 36% last year, from 26% in 2008.

“Financial intuitions are really focusing on improving their card, payments and branch delivery programs to attract and retain customers; especially the younger generation of consumers who are more technology savvy and require convenience in every aspect of their life, including banking,” Zanotti said.

“Instantly issuing and personalizing cards, stickers, and mobile phones allows financial institutions to remain current and competitive with all consumer segments.  DCS’ CardWizard is the only instant issuance platform that can provide a PCI compliant, turn-key platform with all these capabilities.”

DCS’ instant card issuance and PIN solutions are now installed in more than 5,500 retail bank locations both domestically and internationally.

 

Instant Issuance a key tactic for card issuers

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