In today's world of instant gratification, making customers wait days to start using a new or replaced card puts you at a disadvantage to other cards in wallet. That's why instant digital issuance is one of the most sought after features by both consumers and financial institutions.
When a card is lost or stolen, spend momentum is stopped, forcing cardholders to switch to another card in wallet while they wait for a replacement. Some customers will stay with that new card after a replacement due to habit, rewards build or card-on-file preferences. Instant digital issuance allows you to maintain top of wallet status after a card replacement by pushing tokenized cards to payment wallets such as Apple Pay, or providing Virtual Card Numbers to use online.
44% of customers say instant issuance would influence where they bank. Particularly among young customers, instant digital issuance sends a message that a financial institution provides fast and easy-to-use products that fit their lifestyle, helping you build accounts, deposits and balances.
Establish top-of-wallet behavior right away with instant issuance. 100% of instantly issued cards are activated and 70% of cards are used within 5 days.