Bank / Credit Union

Co-op Financial Services intros digital card issuance

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May 21, 2021

Co-op Financial Services has launched digital card issuance for credit and debit cards. This is part of an effort to help improve credit union and member engagement, according to a press release.

The solution issues card credentials through a credit union's mobile app or online system, so the member can add the card directly to their digital wallet. Members can request a new card and receive it digitally, or the system will automatically reissue the card when it expires.

"Co-op Digital Card Issuance solves real problems for both credit unions and cardholders," Bruce Dragt, chief product officer for Co-op, said in the release. "When a card is lost, so too is the opportunity to engage with that member. Payments is the path to primary financial relationships, and credit unions can't afford to lose out on the daily — sometimes hourly — touchpoints with members who rely on them for everyday financial transactions. Digital issuance puts that card right back into play, delighting the cardholder and reactivating critical revenue streams for the credit union."