Fiserv Inc. has announced the addition of instant credit and debit card issuance services to its central issuance business. This will give financial institution clients the ability for branch staff to provide consumers in a branch location with a plastic Visa or MasterCard branded debit or credit card upon new account opening, or as a replacement for a lost or stolen card.
"With the addition of instant issuance to our central issuance business, Fiserv is the only company that can offer a seamless card issuance solution for financial institutions," said Jorge Diaz, president of output solutions at Fiserv. "Because of this, we are able to counsel clients on the best solution to meet their business objectives — whether that is central or instant issuance, or a strategic combination of the two approaches."
Instant issue cards from Fiserv can be delivered using one of two options:
- Temporary secure vault cards provide the benefits of instant issuance without an investment in hardware and software. A non-personalized Visa or MasterCard debit card is issued in-branch, providing the majority of customers with immediate access to an account until the permanent card is received in the mail. Cards can be ordered in bulk or with a PIN and stored in a secure vault.
- Permanent instant issue cards allow the issuance of personalized cards in the branch. Fiserv offers card personalization equipment and Instant Issue software for a variety of cards including ATM, debit, credit, gift, contactless and EMV cards. Financial institutions also gain access to the same product suite available for centrally issued cards including The Card Collection, a portfolio of nearly 80 designs, as well as full-image photo cards, which allow customers to personalize cards.
Fiserv provides a connection between its central issuance bureau and instant issuance solutions deployed at financial institutions. Through that connection, data from every instantly issued card is stored, greatly simplifying card replacement or reissuance. In addition, the solution is integrated with the Fiserv card processing platform for activation and single entry.
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