FIS has launched a cloud-based, instant issuance system for EMV-chip cards.
FIS Instant Card is designed to enable financial institutions to instantly issue credit, debit and prepaid cards from any location, FIS says in a May 12 press release. It enables banks and credit unions to produce EMV-chip cards when customers open a new account or need an emergency replacement card.
The Jacksonville, Fla.-based vendor will manage all server hardware, security modules, card profiles, encryption keys, EMV data preparation, PCI compliance and other services. The technology supports embossed or flat cards, blank or pre-printed card stock, edge-to-edge four-color or monochrome print, EMV and mag-stripe encoding, as well as PIN selection and change.
The goal is to create a completely instant solution, synchronize in-branch and central fulfillment, and to fully integrate EMV-chip technology, says Anthony Jabbour, executive vice president of FIS North American Financial Institutions, in the release. “This is another step in our ongoing effort to help financial institutions enhance their customer experience and deepen customer relationships," Jabbour says.
Instant Card automatically issues a new card through a synchronized card account opening and activation process that avoids dual data entry when cards are re-issued after they expire for individual and bulk card reorders.
Instant EMV issuance is also supported by vendors such as EFT Source, which saw its instant-issue volume nearly double in the aftermath of Target's holiday-season data breach.