CPI Card Group® Launches Push Provisioning Service

Rhea-AI Summary

CPI Card Group (NASDAQ: PMTS) has launched its Push Provisioning service, allowing issuers to tokenize Mastercard debit and credit cards for various mobile wallets, including Apple Pay and Google Pay. This solution addresses the need for a comprehensive issuance strategy by supporting mobile payment experiences. Issuers benefit from CPI's digital infrastructure, minimizing internal resource challenges while providing a customized mobile wallet experience. The focus on mobile capabilities positions CPI competitively in the evolving payment landscape.

Positive

• Launch of Push Provisioning service enhances issuer offerings.
• Supports tokenization for major mobile wallets improving user experience.
• Reduces issuer's internal resource burden with CPI's digital infrastructure.
• Addresses growing consumer demand for mobile payment solutions.

Negative

• None.

New Solution from CPI^® Helps Issuers Unlock the Potential of a Complementary Digital and Physical Issuance Strategy

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, today unveiled its Push Provisioning service. This new dynamic solution facilitates the tokenization of a Mastercard^® debit and credit card through in-app provisioning to a large network of mobile wallets including Apple Pay^®, Google Pay^™, Samsung Pay^® and Click to Pay.

Issuers are recognizing the importance for some consumers of complementing a physical card issuance strategy with a provisioning solution that supports mobile wallet usage. CPI’s Push Provisioning solution enables issuers to overcome internal challenges, such as a lack of resources and limited infrastructure, to be able to offer a mobile payment solution as part of an omni-channel experience for cardholders.

“Some consumers view the provisioning of payment card credentials into mobile wallets as an expected part of their experience and an issuer’s value proposition,” said Lane Dubin, SVP and General Manager, Prepaid, Personalization Solutions and Instant Issuance for CPI Card Group. “Issuers need to be able to compete in mobile arenas – not only for the revenue opportunity, but also for the success of their overall issuance strategy. We’re thrilled to introduce Push Provisioning to support issuers in this effort.”

With CPI as their technology partner, issuers can adopt a push provisioning strategy that delivers a satisfying, on-demand customer experience for cardholders. Through the Company’s robust digital infrastructure and existing relationships, CPI frees issuers from the complex back-end responsibilities and constant maintenance that in-house push provisioning would otherwise require. Issuers are able to provide cardholders with a custom-branded mobile wallet experience, all while CPI accommodates cardholders when they change their preferred app or mobile wallet by constantly expanding compatibility.

To learn more about CPI’s Push Provisioning, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220323005260/en/

ICR Inc. for CPI Card Group

Sourav Das

203-682-8283

media@cpicardgroup.com

Source: CPI Card Group Inc.

FAQ

What is CPI Card Group's new service called?

CPI Card Group's new service is called Push Provisioning.

How does Push Provisioning benefit issuers?

It allows issuers to tokenize debit and credit cards for mobile wallets, enhancing customer experience and reducing internal resource challenges.

Which mobile wallets are compatible with CPI's Push Provisioning?

Push Provisioning supports Apple Pay, Google Pay, Samsung Pay, and Click to Pay.

What is the significance of mobile wallet provisioning for cardholders?

It meets consumer expectations and enhances the overall value proposition of issuers.

When was the Push Provisioning service announced?

The Push Provisioning service was announced in the press release dated March 23, 2022.