No More Waiting: Instant Cards are Here

Losing your debit or credit card used to mean days of waiting. No swiping, tapping, or spending until a replacement card arrived in the mail or you took a trip to the branch to have a new one printed. Fortunately, those days are behind you! A smarter solution is rolling out in July from SIU Credit Union: digital card issuance.

The technology to issue digital versions of cards for members allows you to access and start using your new card immediately. Whether you’re opening a new account or replacing a card that was lost, stolen, or damaged, digital issuance puts your card in your wallet – your digital wallet, that is – without the wait. Let’s explore the specifics of digital issuance, how it works, and why it’s such a beneficial tool.

What is Digital Card Issuance?

Digital card issuance, also known as virtual card access or instant digital issuance, is a process where your new debit or credit cards are provided to you in a digital format. Rather than waiting for days for your card(s) to arrive in the mail, you’ll receive an electronic version immediately.

Then, you can quickly add your digital card directly into your digital wallet on all your smart devices. The most popular digital wallets are Apple Wallet, Samsung Wallet, and Google Wallet – which are available to download from your phone’s app store.

Once you add your digital card(s) to your digital wallet, you can begin using them online and at stores with tap-to-pay checkouts.

How It Works:

Digital card issuance is designed to be a fast and simple solution for members – especially if you’re traveling and lose your cards. Here is an overview of how the process works:

• Issuing Your Card:

The credit union generates a digital version of your card, including the specific card number, expiration date, and security code.

• Delivering Digitally:

Once your card is ready, it will typically be available through online and mobile banking. You may also receive push notifications, text messages, or an email instructing you how to access your digital cards securely

• Adding to Your Wallet:

Follow the prompts on your digital wallet to add a new debit or credit card. If you don’t have a digital wallet, you can download Apple Wallet, Samsung Wallet, Google Wallet, or other options from your phone’s app store.

• Using Your Cards:

You can immediately start making purchases with your new card(s) online and with retailers that accept contactless payments.

• Receiving Your Physical Cards:

Depending on your financial institution, you may have the option to select digital or physical cards. However, most institutions will still issue you a physical card that will arrive in the mail and must be activated once received.

Exploring the Perks of Digital Issuance:

While digital card issuance is focused on speed, it’s also about making your life simpler and more secure. Here are some of the key advantages of instant access to digital versions of your debit and credit cards.

• Instant Access:

No more waiting days for your card(s) to be delivered and activated. With digital issuance, you can start using your card as soon as your account is approved or your replacement request is processed.

• Enhanced Security:

Your digital card(s) can be used through popular mobile payment systems like Apple Pay, Samsung Pay, and Google Pay. These payment systems use secure encryption and tokenization technology, which replaces your actual card number with a unique code used during transactions.

• Use Anywhere:

When shopping online or placing an order over the phone, you can quickly provide your digital card information to complete your transaction. Most brick-and-mortar retailers today offer contactless payment options, allowing you to use your digital cards during checkout.

• Emergency Preparedness:

If your debit or credit card is ever lost or stolen, the credit union can immediately send you digital versions of your new card(s). This feature is especially beneficial when traveling out of state or internationally.

• Increased Convenience:

Mobile payment systems like Apple Pay, Samsung Pay, and Google Pay make paying your way a breeze. Whether you’re paying with your smartphone or smartwatch, all your cards are only a tap away!

We’re Here to Help!

Digital card issuance provides faster, safer, and more flexible access to your money. Whether dealing with a lost card, opening a new account, or traveling, you can enjoy immediate access to your credit union card(s), right from your phone. It’s just one more way we are working to deliver better service for our members. If you have any questions about digital card issuance or want to know more about digital cards and wallets, we’re happy to help. Please stop by any of our convenient branch locations or call 618-457-3595 to speak with a team member today.

Each individual’s financial situation is unique and readers are encouraged to contact the Credit Union when seeking financial advice on the products and services discussed. This article is for educational purposes only; the authors assume no legal responsibility for the completeness or accuracy of the contents.