News

Covera, EFT Source to provide instant issuance solution to CUs

November 20, 2013

EFT Source Inc., a provider of turnkey card programs for ATM and debit cards for financial institutions, and Covera, a provider of debit, credit and ATM services, have teamed up to provide the EFT instant issuance solution, Card at Once, to more than 300 credit union clients.

When a member requests a new or replacement card, the CU securely transfer data from the branch location to EFT Source, where it is processed into an encrypted print file and returned to the branch electronically. Card at Once encodes the data and the credit union prints the card, allowing the member to walk away with a ready-to-use, permanent card.

"The adoption of instant issuance has grown much stronger due to the changes in technology over recent years," said Bill Dinker, president of EFT Source. "As a result, it is quickly becoming a necessity to maintain a competitive edge."

" … Card at Once is a cost-effective, easy-to-use solution, enabling our credit unions to significantly strengthen member satisfaction while realizing benefits like a 30-percent cost savings over traditional instant issuance solutions," said Covera COO Kimberly Ploof.

With the increased demand of instant issuance, EFT Source has realized a 370 percent increase in the number of Card at Once printers across the United States during the last 12 months.

The company recently added new features to the card printer, including the ability to encode EMV chip cards to support EMV-capable cards, allowing financial institutions to fluidly migrate to the new standard when necessary.

Read more about bank automation.