The time of offline shopping is fast becoming a thing of the past. After the coronavirus pandemic, when many were left in forced isolation, people have appreciated all the benefits of online shopping. Virtual sellers and delivery services became rabidly popular, and this continued even after the strict quarantine measures were lifted. Businesses that had previously focused only on the “live” buyer had an urgent need to move to the virtual plane. And it became a matter of survival for many.
Software developers quickly responded to market changes and offered businesses several innovative solutions to simplify online settlements with customers, suppliers, and partners. The simplest and most convenient developments in this direction are card issuing platforms. These multifunctional solutions allow you to launch your card programme, fully manage it, and control your finances.
Card issuing platform: what is it?
The traditional scheme: when you need a payment card, you turn to the bank, and for all questions that concern the further use of bank plastic, you also turn to the banking institution. It is still a more or less acceptable option for a private person. However, businesses only sometimes have enough time and resources to visit banks for each card from the whole project. Modern technologies allow you to get away from tradition and get more independence.
Any company, regardless of size and status, can use special software for independent card issuance and payment card programme management. It is the Wallester multifunctional platform, which has extensive functionality. The platform’s main advantage is that it allows you to not depend on the whims of banking institutions.
The main features of the card issuance platform
The very name “card issuance platform” indicates the main function of this software. It can be used to issue physical and virtual cards, debit cards, credit cards and prepaid cards. Let’s list the other options that are available to the users of the platform:
- Card programme management. Limit functions are available on the platform. Limits can be set on individual cards and on types of transactions. It can be used to block cards in case of theft or loss, unblock them back and re-issue them on expiry;
- View data on each card. The user can independently monitor their balance via the mobile application. In it, you can also view the PIN code of your card and other useful information;
- Tokenisation. The platform allows you to link your card to any digital wallet, which significantly increases the security of making payments;
- Make payments. Up to 1,500 payments can be made simultaneously. They are carried out in seconds and without problems. It does not matter where the cardholder is at the moment of payment. All card payments are made instantly;
- Transaction protection. The platform’s developers used modern encryption methods and protection protocols. The 3D Secure protocol introduces an additional authentication step to prevent unauthorised persons from accessing customer funds.
These are only the main features of the platform. It has many options for analysing the company’s financial activities and for competent budgeting.
Who uses a card-issuing platform?
Companies from any sphere can use card-issuing platforms. The potential of this software is almost limitless as it is easily customisable to suit the needs of any business. Any company that needs cards for quick and convenient settlements with partners, suppliers and customers is interested in using the platform.
The platform is constantly updated and modernised. Its functionality is growing rapidly. The solution is easily integrated with software that the company already has. It makes the platform in demand in the following business areas:
- Lending. When a credit organisation issues cards, it can loan a client much more quickly. The need to wait for bank approval is eliminated, significantly improving the service. The platform is relevant for companies issuing any loans;
- Online trading. Marketplaces can pay with partners and customers worldwide much faster if they have their card programme. The most in demand for them are electronic cards;
- Fintech. Operational efficiency is important for companies in this sphere, and the platform allows them to make quick mutual settlements with clients;
- Banking. Modern software is much more efficient and secure than the traditional software used by banks;
- Tourism. Travel agencies do business with partners all over the world. The speed of payment directly affects the quality of their services. A proprietary card programme allows travel agencies to instantly pay an unlimited number of invoices, no matter where in the world the recipient is located;
- Insurance. A proprietary card programme speeds up the process of paying the insurance amount. It helps to increase customer loyalty and the number of positive reviews about the insurance company;
- Streaming. They always strive to find new, more convenient payment solutions in this sphere.
The platform allows you to issue more than payment cards. With its help, you can create cards for bonus programmes, gift cards, and any other cards needed for business.
Another bonus of using the platform to issue cards is the possibility of popularising your brand. For this purpose, you can use the White Label solution. Cards with an exclusive design in corporate colours always attract the attention of others and serve as a kind of advertising for the brand. The presence of many useful business functions is the secret of the popularity of card-issuing platforms.
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