CHICAGO, May 17, 2016 /PRNewswire/ -- Arroweye Solutions, a leading card marketing and production firm, finished the first quarter of 2016 with record revenue growth of 58 percent over Q1, 2015. This continues the momentum that Arroweye saw in the second half of 2015 when the company also grew the on-demand card business more than 50 percent. Driven by the need to fulfill EMV and traditional mag-stripe card orders in the most timely and flexible way possible, bank and prepaid clients are leveraging Arroweye's patented Digital On-Demand technology at a record pace.
Arroweye's technology provides just-in-time card production and card marketing materials to banks, credit unions, prepaid payments companies and retail gift card brands, all without the risk or extra expense of printing and storing card inventory.
"On-Demand technology is perfectly suited for EMV card production, because it maximizes flexibility and eliminates the antiquated practice of pre-printing and storing cards. This is a huge advantage for EMV cards, which can cost as much as ten times more than mag stripe cards," said Arroweye Solutions CEO Render Dahiya. "In this dynamic regulatory environment, more banks and other card issuers are choosing Arroweye to maintain optimal flexibility and reduce risk as they transition cardholders to EMV-enabled cards."
This impressive momentum will continue as Arroweye has more than 15 new programs launching with financial institutions in the second quarter. Several financial services organizations, including Mountain America Credit Union, the 11th largest credit union in the country by number of members, are coming online in second quarter, which will drive continued growth into the second half of 2016.
Arroweye is a leading, single-source provider of innovative card marketing and production solutions for the payment card industry. The company's digital on-demand technology creates a more efficient and cost-effective model for card marketers and issuers, giving them a highly customizable solution to increase their program's speed to market, adoption rates and profitability. Founded in 2000, Arroweye offers the first fully-digital card solution approved by Visa, MasterCard, American Express and Discover and continues to partner with some of the largest prepaid, credit/debit card programs in the financial and card services industries. For more information, visit www.arroweye.com.
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SOURCE Arroweye Solutions