Company to Activate Instant Issuance of EMV Credit Cards
TORONTO, May 13, 2015 /PRNewswire/ - IA360°, an industry innovator in Service, Technology & Data launches non-traditional Instant Issuance of EMV Credit Cards, Mobile Wallet and Wearables to be activated in retail stores and at events in North America.
Instant Issuance improves the card issuing process by enabling new and existing customers to receive a fully-functioning, active payment card within minutes. For financial institutions this creates opportunities to increase activation rates and interchange revenue. The sooner a card is issued and activated, the faster financial institutions can benefit from an immediate return on their investment.
The technology used by IA360° allows clients to issue cards in real time improving customer satisfaction and retention. The Smart Payment Association found that 83% of cards issued through this technology activate immediately and are used more frequently*. By eliminating the bulk of the issuance process clients realize significant cost savings from paper and printing costs to courier and support.
"We were provided the challenge of how to address the two-week time lag between a new customer credit card application and the time they are able to hold, use their permanent Chip/PIN card, and experience all the features & benefits that product has to offer," said Geoff Conant, Founder and Senior Vice President of IA360°. "We now offer a solution that sees the time from application to 1st purchase reduced to five-minutes or less allowing the customer to use their EMV card and experience all it has to offer immediately."
*Smart Payment Association, Instant Issuance, A SPA White Paper December 2013, p.9
About IA360°
An industry innovator in Service, Technology & Data, IA360° is a full-service solutions provider that gives organizations the competitive edge to be leaders in today's fast-paced environment. The company takes the guess work out of Instant Issuance, combining cutting-edge technology with full-service solutions to issue credit, debit, pre-paid & loyalty cards anywhere. With a focus on real-time service and in-depth support, IA360° removes all of the challenges of connecting major North American financial institutions immediately with their customers. For more information check out: www.IA360.com
SOURCE IA360°
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