A new EMV On-Demand solution was launched at Money2020 by Arroweye Solutions just yesterday. This new development provides financial institutions with a more effective strategy to manufacture, personalize, and fulfill EMV chip cards with a more advanced cost-control system as well as higher return on investment.
Arroweye Solutions is a prominent single-source provider of innovative card marketing and production solutions for the payment card industry – this company’s digital on-demand technology is responsible for creating more efficient and cost-effective models for card marketers and issuers, providing them with an easily customizable solution to keep their program’s speed high enough to stay in the market along with increasing adoption rates and profitability.
Although this company was just founded in 2000, Arroweye already claims the title of providing the first fully-digital card solution approved by major credit card companies Visa, MasterCard (News - Alert), American Express, and Discover, and continues to maintain a relationship with these leading names in credit/debit card programs.
Obviously, Arroweye has a faithful audience due to its partnerships with these major names, but this new development and movement to EMV chip brings nothing certain but the certainty of the unknown, as stated by Render Dahiya, CEO of Arroweye Solutions: “From increased production costs to uncertainty about overall return on investment, it’s no surprise issuers are apprehensive about transitioning their programs.”
With this EMV On-Demand development, financial institutions are able to control costs when testing select EMV card programs, all without losing flexibility or the speed to market. Issuers have more choices, which leads to boosted program performance as well as strengthened customer relationships, with this new unique platform. It’s pretty hard to ignore the long line of benefits that come with this innovation from Arroweye Solutions – their digital on-demand production platform requires no inventory management, so programs can be launched from setup to card fulfillment package all in a matter of days. After building their reputation for more than a decade, Arroweye Solutions is finally ready to remove uncertainty from EMV card production by extending the benefits of digital on-demand into an EMV platform.
Dahiya recognizes that a “one-size-fits-all model simply doesn’t work in today’s market and the EMV transition is no exception.” That’s why the company continues to stress that there will be no sacrifice in flexibility and program performance with the adoption of EMV – it will only enrich the experience for both issuer and customer by integrating customers’ preferences into individual card marketing campaigns, gaining greater brand relevance and usage for card programs and differentiating them from the competition in the international market.
Edited by Alisen Downey