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October 29, 2019

Ondot Systems launches Card App for issuers

Ondot Systems, which offers digital card services, has launched the new Card App for debit and credit issuers. The white-label app can be linked to an issuer’s mobile banking app.

Issuers can use the app to offer consumers transparency for both physical and virtual cards. Ondot Card App enables instant signup and provides a digital card immediately.

Users will also be able to add cards to mobile wallets such as Apple Pay and Google Pay. Furthermore, the app offers transparency in transaction and merchant details.

Ondot added that the Card App allows card controls, including on/off, geographic limits, ATM and online transactions control and transaction alerts.

The app offers spend insights to enable smart spending. It also facilitates the management of card-on-file and recurring merchants, and tracking of credit wellness.

Ondot Systems CEO Vaduvur Bharghavan said: “Payment cards are undergoing their biggest transformation in 50 years, driven by massive digital and AI investment from banks and tech giants.

“Card products like Apple Card are establishing the new normal for consumer experience – not just a few basic card features stuffed deep within a generic banking app, but cardholder experiences that anticipate consumer needs and guide consumer actions in moments that matter.”

The company added that the new app allows integrations across fintech, issuers and processors.

Case studies found that the app provides a 25% profitability increase of debit and credit card portfolios for regional and community issuers. This is made possible through a 23% surge in card usage and 25% decrease in operational costs.

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