Datacard CardWizard Software Used by HarborOne Credit Union to Instantly Issue Debit Cards

by Mercator Advisory Group 0

Instant debit card issuance can be a strong competitive differentiator, especially as consumers have come rely on plastic more than paper for their everyday spend. Switching to an instant card issuance strategy can pay off for issuers just in mitigating card replacement costs alone.

“There are many benefits to offering instantly issued debit cards to our members – first and foremost, the security and convenience of hand delivering the card in the branch differentiates us and gives us a competitive advantage in the marketplace,” said Wayne Dunn, senior vice president and chief technology officer at HarborOne. “In addition, because we now have the ability to instantly activate our debit cards, our members can start using their cards immediately, which increases their satisfaction because they leave the branch with a fully functional card, while increasing card usage rates and helping us achieve that ever so important top-of-wallet status.”

But the real power behind this service lies in the education opportunity it presents for the financial institution. Rendering the card in branch provides an unparalleled opportunity to communicate the features and benefits of the issuer’s debit card program. As larger issuers claw back debit card benefits, this is a good strategy for reminding consumers why they should consider a local financial institution.

Read the entire press release here: