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The Ondot Card App received a major upgrade this week with the addition of a new digital issuance feature for credit and debit cards.
According to the announcement, "digital issuance is one of the most requested features by both consumers and financial institutions." Digital Issuance allows financial institutions to offer a digital version of a credit or debit card that credit union members and consumers can add to their mobile wallet, such as Apple Pay, before the physical card arrives.
"Available for both new cards and replacement of lost or stolen cards, the digital card is accepted anywhere you can pay with mobile wallets, and significantly increases card activation rates and early usage," the company said in a statement.
"This is easily the number one capability requested by our financial institution clients," Prasanna Narayan, Ondot's vice president of product management, said. "Ondot has worked to deliver this in a way that seamlessly fit into issuers' existing processes, so financial institutions can launch this quickly."
Card App is a platform that enables credit unions to provide members with an easy and intuitive way to use and manage their digital credit and debit cards.
This news follows the announcement by Visa and MasterCard last month as both companies are making new investments into digital issuance because fewer people are going into physical branches during the pandemic.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
