CPI Card Group Inc. (OTCQX: PMTS, TSX: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today highlighted its dual interface metal card solution, which uniquely captures two major trends in consumer payments: metal and contactless. The Company’s patented Encased Steel and Encased Tungsten cards feature dual interface EMV® technology, enabling both contact and contactless transactions to elevate the overall customer experience even further.
CPI’s dual interface metal cards are developed to allow the cards to overcome the design and functional limitations of conventional metal cards – helping financial institutions unlock a world of card design potential for metal cards with leading-edge contactless capability. Metal cards available from CPI can feature many of the design treatments available on plastic, such as high definition printing and spot gloss, without having to sacrifice the weight and gravity of a metal component. In addition, CPI’s dual interface metal cards offer multi-directional contactless read-ranges with the ability to communicate with a payment reader regardless of how the card is held, maintaining consumer convenience and a frictionless transaction at the point-of-sale. For today’s financial institutions, offering cardholders the sophistication of metal and the seamlessness of contactless payment in a single card can serve as a major competitive differentiator.
“Our dual interface metal cards represent a breakthrough in production innovation, considering the manufacturing complexities that must be navigated to achieve a high-functioning contactless card that maintains a premium metal look and feel,” said Guy DiMaggio, SVP and General Manager, Secure Card Solutions, CPI Card Group. “We take pride in engineering solutions that ensure our customers don’t have to settle for one trend over another. We look forward to more financial institutions enhancing their portfolios with contactless-capable metal cards.”
For financial institutions, the opportunity at the intersection of metal and contactless is ripe – the number of U.S. cardholders is projected to reach nearly 191 million by 2022, with 70 percent of U.S. retailers already having point-of-sale terminals capable of accepting contactless payments. In “The Road to Contactless,” a new white paper, the Company explores the factors surrounding the U.S. market on the cusp of a contactless payment revolution. The white paper addresses the contactless trend thus far and what may be in its near future, and educates financial institutions on how to assess contactless programs of their own.
To download “The Road to Contactless,” click here.
To learn more about CPI’s dual interface metal card solutions, click here.
About CPI Card Group®
CPI Card Group® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. CPI helps our customers foster connections and build their brands through innovative and reliable solutions, including financial payment cards, personalization and fulfillment, and Software-as-a-Service (SaaS) instant issuance. CPI has more than 20 years of experience in the payments market and is a trusted partner to financial institutions and payments services providers. Serving customers from locations throughout the United States, CPI has a large network of high security facilities, each of which is registered as PCI compliant by one or more of the payment brands: Visa, Mastercard®, American Express and Discover®. Learn more at www.cpicardgroup.com.
EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC