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.
Why Cards Should Be a Focus for Digital Transformation
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.
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 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.
Cards that are instantly issued and pushed to digital wallets are nearly 100% activated and 70% are used within five days.
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.
In the last two years, 2.8 billion records were exposed in data breaches, many of them with payment information.