Chicago-based card marketing firm Arroweye Solutions unveiled its new open-source, universal EMV On-Demand solution at the Money2020 convention on Monday.
The platform provides data integration and supports both online and offline card authentication, as well as a number of cardholder verification methods. Arroweye was the first firm approved by Visa, MasterCard, American Express and Discover to produce payment cards on-demand.
“For card issuers, the migration to EMV chip cards is filled with unknowns,” Arroweye CEO Render Dahiya said. “From increased production costs to uncertainty about overall return on investment, it’s no surprise issuers are apprehensive about transitioning their programs. EMV On-Demand enables financial institutions to control costs when testing select EMV card programs, without losing program flexibility or speed to market. With our unique platform, issuers can access more choices, which help boost program performance and customer relationships, while evaluating the other considerations of integrating EMV into their portfolio.”
The solution is powered by the company’s on-demand production platform, which requires no inventory management and can launch programs from setup to card fulfillment package within days. For more than 10 years, Arroweye has sought to develop its brand based on digital on-demand card production and fulfillment technology.
“A one-size-fits-all model simply doesn’t work in today’s market and the EMV transition is no exception,” Dahiya said. “Issuers don’t have to sacrifice flexibility and program performance because they’re adopting EMV. With EMV On-Demand, financial institutions can incorporate customers’ unique preferences and dynamic rich content into individual card marketing campaigns. Card programs can gain greater brand relevance and usage differentiating from the competition in the international market that comes with EMV.”