CPI Card Group Introduces End-to-End Support for Open-Loop Digital Prepaid Cards
Enhancements Make CPI’s MYCA™ Software the Platform of Choice for Omni-Channel Card Programs
LAS VEGAS--(BUSINESS WIRE)-- Money 20/20—Booth 1025–CPI Card Group (Nasdaq:PMTS, TSX:PNT), a global leader in financial and EMV® chip card production and related services, today announced enhancements to its MYCA card ordering system that expand the gift card options available to program managers and financial institutions. CPI customers now have the ability to order and fulfill open-loop digital gift cards, which are delivered electronically through the MYCA platform and can be redeemed online.
The newly announced enhancements allow prepaid program managers to offer the option of physical or digital cards as part of their omni-channel gift, reward and incentive, and rebate programs. Consumers simply use the convenient online interface offered by MYCA to choose between a physical card delivered by mail and a digital card delivered to their email.
“With our enhancements to MYCA, CPI Card Group has eliminated significant hindrances on gift card functionality, chief among them that historically, open-loop cards were not available in a digital format,” said Lane Dubin, senior vice president of sales and marketing at CPI Card Group. “Consumer choice between physical and digital cards is becoming increasingly important to our customers, and now we can provide that flexibility alongside an easy-to-use interface that simplifies the customer journey.”
MYCA is a turnkey B2B software solution used by financial institutions, program managers, and merchants to design and order payment cards. The platform, which supports bulk card ordering and multi-currency and multi-language programs, can be integrated seamlessly into customers’ existing websites. Additionally, the software’s hierarchical structure enables fast onboarding of new programs, increasing speed to market.
This week during Money 20/20, the large payments and financial services industry event held in Las Vegas, CPI Card Group will be discussing the full range of services and solutions for prepaid card programs at its booth (No 1025).
About CPI Card Group
CPI Card Group is a leading provider in payment card production and related services, offering a single source for credit, debit and prepaid debit cards including EMV chip, personalization, instant issuance, fulfillment and mobile payment services. With more than 20 years of experience in the payments market and as a trusted partner to financial institutions, CPI’s solid reputation of product consistency, quality and outstanding customer service supports our position as a leader in the market. Serving our customers from ten locations throughout the United States, Canada and the United Kingdom, we have the largest network of high security facilities in North America, each of which is certified by one or more of the payment brands: Visa, MasterCard, American Express, Discover and Interac in Canada. Learn more at uk.cpicardgroup.com.
Note: EMV is a registered trademark or trademark of EMVCo LLC in the United States and other countries.
Source: CPI Card Group
Laura Anderson, 203-682-8267