FIS™, one of the world’s largest providers of banking and payments technology, today announced that it has launched its Instant Issuance card product for banks in Asia for the production of fully personalized EMV cards in branch locations.
Historically card issuance for new and replacement credit and debit cards could take up to two weeks. Now, financial institutions can produce cards easily, cost-effectively and in very little time. FIS’ Instant Issuance eliminates many of the high costs associated with batch card production cycles with no postage costs, no risk of card intercept fraud, or expensive PIN mailers. Banks benefit from increased card sales, immediate replacement for lost, stolen or damaged cards and improved customer loyalty, while featuring VISA® and MasterCard® compliance and security requirements.
FIS’ Instant Issuance product is a cost effective solution that operates as a stand-alone solution or as part of its Cortex card management system. Cortex is one of the most advanced and comprehensive card payment solutions available in the market today and supports all the international schemes and card types, including contactless cards.
“We are excited to make the Instant Issuance product available to all of our current and prospective bank clients in the Asia region. It is a smart technology investment that helps banks to retain and grow deposits by distributing cards upon account opening,” said Christopher Yeo, general manager, Payments, FIS Asia. “Consumers can walk out of a branch with a personalised, fully functioning EMV credit or debit card in hand. This also accelerates the actual timetable for card usage – reducing the number of days from card issuance to the first transaction when compared to a standard card issuing model.”