USE:

Ensure your card is the preferred card in the digital wallet

Digital transactions are the way of the future. Once customers sign up for a digital card, they don’t tend to switch, so you need to get to the top of their digital wallet and stay there.

With Card App, you can provide instant digital issuance and access to new or replaced cards. Push provisioning to digital wallets and virtual cards give customers the ability to start using their cards right away, giving you more opportunities to be the preferred card in their digital wallet.

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The Unprecedented Challenges and Urgency Facing Issuers Today
"The Ultimate Guide to Card Modernization, Part 1" looks at the factors that are driving the urgency to modernize, why payment cards are the ideal launch point, what characteristics a modern digital card program should have, and introduces the ideal method to deliver it to cardholders.

Digital Issuance

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. That's why instant digital issuance is one of the most sought-after features by both consumers and financial institutions.

  • New cards are instantly issued and available to push to digital wallets or to create virtual card numbers.
  • Retain spend momentum for replaced cards.
  • Create a positive first impression with new customers.
  • Improve card activation and usage rates, increasing customer growth, usage, and loyalty.

44%

44% of customers say instant issuance would influence where they bank. Particularly among younger customers, digital issuance sends a message that a financial institution provides fast and easy-to-use products that fit their lifestyle.


Push to Wallet

Push provisioning allows cardholders to quickly and easily add their bank’s credit or debit cards to their mobile wallet, enabling faster card replacement, quick onboarding, and higher activation.

  • Add cards to Apple Pay or Google Pay quickly and easily.
  • Get higher card activation and usage.
  • Achieve digital top-of-wallet status. For digital cards, wallet position is much more important than physical cards, as people rarely use the second card in their digital wallet.

Why It’s Important

  • Offering digital debit and credit cards is becoming price-of-entry for new customers.
  • Adding a card to a digital wallet means your card is more likely to be used for digital transactions.
  • With more competition from wallets for other services, retaining control of the provisioning experience helps protect the relationship with your customer.
  • Card-on-file transactions are central to the future of payments. Even face-to-face payments are often becoming card-on-file as customers start a transaction digitally and finish in person, such as getting a taxi (Uber), ordering pizza (Dominos), and buying groceries (Instacart).


70%

Cards that are instantly issued and pushed to digital wallets are nearly 100% activated and 70% are used within five days.


Virtual Cards

Virtual Cards give cardholders the ability to create temporary or one-time-use cards for online purchases. Cardholders can set their own expiration dates and spend limits for each card, and apply all of the card controls and alerts that Ondot provides for regular cards. This protects customers from data breaches and stolen cards, and gives them peace of mind to use their card confidently.

  • Create unlimited temporary cards for use online.
  • Give family members or employees single-use cards for specific purchases.
  • Set expiration date and spend limit for each card.
  • Use Ondot’s card controls and alerts for each card.

Benefits

  • As fraud moves from in-store to online, Virtual Cards reduce fraud losses from data breaches and stolen cards.
  • Virtual Cards are not affected by stolen physical cards because the card number is different.
  • Increased security leads to higher preference for this card when making online purchases.
  • Receive higher online spend from increased card engagement and confidence.

2.8B

In the last two years, 2.8 billion records were exposed in data breaches, many of them with payment information.


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