The Birth of Digital Issuance
The Birth of Digital Issuance

Ciphertext Solutions: IssueDirect Digital Issuance

Traditional debit and credit card issuance methods fall short of satisfying today’s tech-savvy bank customers who are looking for convenience and security.

The issuance of the physical card is time-consuming, expensive, and sorely out of touch with today’s digital world. Customers do not want to wait 7-10 business days for a physical card to arrive by mail, only to find that the card has been lost or stolen in the process.

Making matters worse, mailing a new or reissued card can cost a financial institution as much as $12.75 per card. Coupled with the fact that 20% of all reissued cards are never even activated, which poses a significant loss in yearly revenue for financial institutions.


Other solutions have been put in place to attempt to alleviate these problems – to only have new ones arise. For example, instant issuance card machines have been placed at certain branches to offer customers the ability to receive a card immediately. Although instant issuance at local branches seems convenient to your customers, there are risks associated with this service. Identity thieves have used fake IDs to acquire new cards on the spot, which allow them to use the card immediately for fraudulent purchases. This solution has become such a common problem, that in fact, one of the largest banks in the United States had to cancel this program.

All things considered, convenience and security are highest on your customers’ list of priorities when it comes to card issuance.  Customers do not want to wait 7-10 business days for a physical card to arrive by mail, then go through a multi-tier authentication process to activate the digital wallet that may take a couple more days. The other current option of instant issuance at a local branch poses issues, inconvenience, and risk, for most people’s busy lifestyles.

With all the security risk and inconvenience associated with cards, why not go virtual?

In 2018 alone, the use of digital wallets increased by 53%. The widespread adoption of this technology is quickly defining digital wallet as a standard in everyday commerce.

The current challenge with issuing cards is why Ciphertext Solutions developed Digital Issuance through IssueDirect. Digital Issuance helps financial institution enhance their mobile banking application, so customers can have instant access to their cards.

IssueDirect’s Digital Issuance, allows your customer to dynamically create a debit or credit card and add it to their mobile wallet anytime, anywhere, globally. The process is simple, the request for a new card is made through your existing mobile banking app, then a new virtual card is generated immediately.     Next, with a push of the button, your customer can instantly add the card to their digital wallet through our proprietary technology, making the card immediately ready for use. Within seconds of requesting a new card, a customer can be making a purchase, it’s that easy.

With IssueDirect from Ciphertext Solutions, you can meet your customers’ mobile demands. Our Digital Issuance solution will provide accountholders with the ability to have instant access to their cards, giving them the experience they expect. Thus, closing the mobile expectation gap and staying ahead of the competition.


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