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The good news: instant card issuances offers financial institutions a simple way to reinforce card security and boost customer engagement and satisfaction.
Instant card issuance has been proven to increase revenue for financial institutions by producing five additional debit transactions per month. Cardholders are choosing their instant issued cards on a regular basis—in fact, instant issuance has been shown to lead to a five percent increase in overall transaction volume.
Many customers demand instant gratification but don’t know that instant issuance is an available option. From 2000-2015, Mintel reports noncash payments have grown at a compound annual growth rate of 12.16, meaning even if consumers are unaware of instant issuance, it’s the (growing) trend of the future that needs to be on their radar.