Dynamic Card Solutions and Verient Announce Instant Issuance of Customized Payment Products

Tue Jul 14, 2009 10:15am EDT
 
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DCS` CardWizard Software Integrates with Verient`s InfiniPAY Platform to Enable
Secure and Convenient Instant Issuance of "Made-to-Order" Payment Products
ENGLEWOOD, Colo.--(Business Wire)--
Dynamic Card Solutions (DCS), the leading instant card issuance, PIN selection
and PIN change provider for financial institutions, and Verient, a leading
developer of technologies and products for customizing multiple payment choices,
today announced a technology integration that allows financial institution
customers a more convenient and secure way to create an advanced payment
customization program. By combining DCS' CardWizard® instant issue software and
Verient's flagship InfiniPAY payment customization platform, financial
institutions can now instantly offer their customers highly tailored multiple
payment products from a single cardholder account. 

DCS' patented CardWizard software and Verient's patent-pending InfiniPAY
platform can be securely integrated into financial institutions' card management
systems and online banking portals. Consumers can simply sign on to their
banking website and, through Verient's software application, create a
"Made-to-Order" payment product with the features and parameters they require.
Customers will be able to use any of their accounts, such as credit card,
checking, savings or home equity line of credit, and can create multiple payment
products in a variety of form factors, including a physical card, contactless
sticker or NFC chip on a mobile phone. 

Delivery of the "Made-to-Order" payment card is simple. Once the payment
controls and parameters have been set up by the customer, Verient's InfiniPAY
platform works in conjunction with DCS' CardWizard instant issue software and
associated hardware to instantly issue the card or other payment form factor at
the branch location. DCS' CardWizard software interacts with Verient's InfiniPAY
platform to securely transfer all the data and then personalize it onto an
associated plastic, fob, sticker or other NFC-chip enabled device. Customers can
simply walk into their full service location and immediately receive their
"Made-to-Order" payment product. 

Within Verient's InfiniPAY application, each card or other payment form factor
has a unique pseudo number and can have unique controls defined by each
individual customer, such as authorized amount, merchant type, location, time
and channel of use, as well as activation and expiration date. For example, a
customer who is traveling internationally can create a card that is linked to
their bank or credit card account and set it so that it can be used only in
specific countries at specific times; a customer can ask for a card product to
be used only in a specific merchant type(s); or a parent can create a card for a
child with full parental control. The solution works seamlessly with the
merchant and financial institution legacy systems, and the unique pseudo number
protects against fraud and identity theft because the merchant never receives
the customer's original account number. In addition, customers can instantly
change control parameters on the "Made-to-Order" card through a web browser, by
sending an SMS message, or though an interactive voice system. 

"We are pleased to be integrating Verient's InfiniPAY platform to CardWizard and
offering financial institutions another way to increase customer service and
satisfaction through our instant issue platform with "Made-To-Order" cards,"
said Ron Zanotti, senior vice president of DCS. "We live in a high-tech, high
service, instant information and gratification society. A customer waiting for
their cards to arrive in the mail five to 10 days after they order them just
doesn't make sense today, especially if the financial institution has a branch
delivery network. Consumers want everything quickly and instant issue gives them
what they want." 

"Integrating our innovative InfiniPAY platform with the industry leader of
instant card issuance, Dynamic Card Solutions, provides financial institutions
with a powerful combination they cannot find anywhere else," said Rajesh
Shakkarwar, founder and chief executive officer of Verient. "Today's customers
ask for instant, highly customized solutions and now they will be able to create
multiple cards or other payment form factors each one tailored to their unique
and individual needs and delivered on demand." 

For more information about Verient`s payment customization platform, please
visit www.verient.com. 

For more information about DCS` instant issue technology offerings, please visit
www.instantissuance.com. 

About Verient

Verient develops technologies and products that enable financial institutions
and merchants to customize payment choices for their customers, thereby offering
more convenient and more secure transactions for both Internet and in store
purchases. This capability results in the capture of additional customer
payments for the financial institution, thus increasing revenue, while at the
same time reducing fraud losses. 

The Verient InfiniPAY platform is compatible with existing merchant acquirers,
card and EFT networks as well as financial institutions' legacy authorization
and settlement systems. Verient's unique architectural approach (one issued and
nine pending patents), and software-as-a-service model, provides financial
institutions a fast, easy and economical path to offering payment options
specifically tailored to customer needs. 

Verient is located in the heart of Silicon Valley and is funded by DoCoMo
Capital and Global Catalyst Partners. For more information about Verient, please
visit our Web site at www.verient.com. 

About Dynamic Card Solutions

Founded in 1996 and a wholly owned subsidiary of Dynamic Solutions
International, Dynamic Card Solutions (DCS) develops instant issuance and PIN
selection solutions for banks, credit unions and retailers that issue EMV,
contactless and magnetic stripe cards. DCS is the leading instant issuance
provider for Visa® and MasterCard® debit cards. The company offers fully
integrated solutions that allow financial institutions and retailers to quickly
and securely issue debit, credit and ATM cards instantly at branch or store
locations. Issuing cards instantly increases customer service, card sales and
revenue, and eliminates current card issuance costs. DCS' system includes a
user-friendly administration component that provides full reporting, card
inventory and more. All solutions utilize encryption and are compliant with
recommended security procedures for instant issuance. For additional
information, call 303-754-2000 or visit the Dynamic Card Solutions Web site at
www.instantissuance.com. 

© 2009 Dynamic Card Solutions. All Rights Reserved. All trademarks, service
marks and trade names referenced in this material are the property of their
respective owners.





Dynamic Card Solutions
Kristin Eckmann, 303-840-4428
eckmann@instantissuance.com
or
Verient
Jeff Weikert, 408-410-3697
jweikert@verient.com



Copyright Business Wire 2009

 

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