CPI Card Group® and Member Access Processing Bring Instant Issuance to Credit Unions

Rhea-AI Summary

CPI Card Group (PMTS) has announced a collaboration with Member Access Processing (MAP) to enhance the branch experience for credit unions. The partnership introduces Card@Once, an instant issuance solution enabling members to receive new or replacement debit cards within minutes at the branch. This SaaS-based solution alleviates the need for credit unions to manage traditional instant issuance infrastructure, with CPI handling IT setup and support.

The initiative aims to transform customer service in credit unions by providing quick, convenient access to financial services.

Positive

• Introduction of Card@Once instant issuance solution enhances member convenience.
• CPI manages IT setup and maintenance, reducing operational burdens for credit unions.
• Collaboration with MAP positions CPI as a leader in payment technology.

Negative

• None.

CPI^®’s Card@Once^® Instant Issuance Solution Allows MAP Customers to Enhance Branch Experience

LITTLETON, Colo.--(BUSINESS WIRE)-- CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, and Member Access Processing (MAP), the nation's leading provider of the Visa DPS Debit, Credit, ATM, Prepaid, and Mobile Processing platform, today announced a collaboration to provide MAP customers access to CPI’s Card@Once^® instant issuance solution.

Card@Once, the first instant issuance solution to be backed by a Software-as-a-Service (SaaS) model, empowers credit unions to offer members the convenience of visiting a branch and receiving a new or replacement card in minutes. Through the collaboration with CPI, credit unions served by MAP can be freed of the demands traditionally required to support instant issuance, such as maintaining software or servers onsite. CPI securely manages IT setup, 24/7 support and maintenance for the customer-friendly cloud-based solution, connecting credit unions and their members to the advantages of an easy, web-based and quick to implement instant card issuance technology. The solution also supports dual interface card solutions, enabling credit unions to issue contactless-capable cards to members.

“At MAP, our focus has always been on enabling a high-quality customer experience for credit union members – working with CPI helps us build on that mission,” said Cyndie Martini, MAP’s President/CEO. “By helping credit unions offer a new, innovative standard of convenience and quickly accommodate members with new or replacement cards, instant issuance brings the potential to transform the branch experience.”

“Card@Once has spent over a decade establishing a reputation for creating value, reliability and convenience for financial institutions and their customers,” said Lane Dubin, SVP and General Manager, Prepaid, Personalization Solutions and Instant Issuance for CPI Card Group. “We’re thrilled to collaborate with MAP to help credit unions tap into the benefits of instant issuance.”

To learn more about Card@Once, click here.

About CPI Card Group^®

CPI Card Group^® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. CPI helps our customers foster connections and build their brands through innovative and reliable solutions, including financial payment cards, personalization, and Software-as-a-Service (SaaS) instant issuance. CPI has more than 20 years of experience in the payments market and is a trusted partner to financial institutions and payments services providers. Serving customers from locations throughout the United States, CPI has a large network of high security facilities, each of which is registered as PCI compliant by one or more of the payment brands: Visa, Mastercard^®, American Express^® and Discover^®. Learn more at www.cpicardgroup.com.

About Member Access Processing (MAP)

Member Access Processing (MAP) is the nation's only card processing aggregator of the Visa Debit Processing Service platform for credit unions. MAP's special role in the marketplace provides our client credit unions the unique opportunity to leverage the Technology, Security, and Service of Visa for their members. MAP is a subsidiary of Currence Payment Solutions, a Credit Union Service Organization, with an unrivaled committed to the credit union movement where credit union are valued first and foremost. Working directly with Visa, MAP offer customized, turn-key Debit, Credit, ATM, Mobile, Prepaid-Reloadable, and Gift solutions — all supported by MAP's five-star training, support and service.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220405005255/en/

ICR Inc. for CPI Card Group

Sourav Das

203-682-8283

media@cpicardgroup.com

Source: CPI Card Group Inc.

FAQ

What is the Card@Once solution announced by CPI Card Group (PMTS)?

Card@Once is an instant issuance solution allowing credit union members to receive new or replacement cards within minutes.

Who is collaborating with CPI Card Group on the Card@Once solution?

Member Access Processing (MAP) is collaborating with CPI Card Group to offer the Card@Once solution.

How does the Card@Once solution benefit credit unions?

It provides credit unions with a cloud-based, easy-to-implement system that reduces the need for onsite IT management.

When was the collaboration between CPI Card Group and MAP announced?

The collaboration was announced on April 5, 2022.

What is the stock symbol for CPI Card Group?

The stock symbol for CPI Card Group is PMTS.