When a card is newly issued, lost, stolen or compromised, instant issuance puts a new one into cardholders’ hands in a matter of minutes instead of days.
For many financial institutions, instant in-branch card issuance complements central card issuance – mailed cards – enabling consumers to walk out of a branch with an activated debit or credit card, including EMV® chip cards.A 2015 Consumer Experience Survey commissioned by Fiserv looked at consumer preferences for channels and payments, including how consumers view instant card issuance. The study revealed several key trends and findings:
- 1 in 5 received their debit card in-branch, among all debit card users who received a new card within a year
- 48 percent of all debit card users and 63 percent of millennial debit card users think it’s important to receive debit cards in-branch
- 82 percent of instant issuance cards are permanent cards