On-Demand Platform Offers Cost Savings
CHICAGO-Payment card issuers stand to gain tremendously by moving card production and fulfillment to a digital on-demand platform, according to new research.
The report, issued by Arroweye Solutions, details the technology advances in card issuance and the savings and efficiencies realized with digital on-demand.
Digital on-demand technology represents a dramatic departure from traditional methods, performing all aspects of card production only when the card is ready to be fulfilled. This "just-in-time" method is the difference between four-to-eight weeks lead time with pre-purchased stock to a fully customized product in as soon as 24 to 48 hours. The zero inventory model and design flexibility gives companies the tools to develop a highly customized product to better target market segments, Arroweye said.
"Digital on-demand is a recent innovation, and we spoke with industry professionals, business partners and reviewed industry data in order to produce an accurate assessment of how on-demand technology can impact card issuance," said Arroweye Solutions CEO Render Dahiya.
The report also projects the cost savings associated with a digital on-demand model, and details the types of payment card customization that on-demand supports and enhances.
"At the core of any card program is the desire to build the kind of relationship with the customer that leads to increased activations, overall card usage and cardholder retention," said Dahiya. "What we learned developing this report is that digital on-demand enables that type of relationship-building in a more efficient, cost-effective manner."
For info: The report can be downloaded at www.arroweye.com/ArrowEye/DOD_report.html