Due to the necessary precautions many are taking right now, contactless payments are seeing a progressively sharp increase in demand. Financial institutions are looking to quickly add dual-interface payment cards into their card portfolios to provide secure, safe and convenient payment options for their customers. By partnering with Matica Technologies, Altra Federal Credit Union is at the forefront of this service – soon offering instantly issued EMV dual-interface debit cards to its members.
“From the beginning, we knew that Matica would be able to deliver on our strategy of getting a card into the hands of our members as fast as possible, while also providing peace-of-mind when they make purchases”
Based out of Wisconsin, Altra Federal Credit Union has been utilizing Matica’s Cards on the Spot™ software to instantly issue debit cards for over 10 years. Since the program’s inception, Altra’s members have been able to receive a new or replacement debit card in less than five minutes – eliminating the seven to 10 business days it takes to receive a debit card and providing members quick access to funds. Additionally, Altra offers a number of different card designs that members can choose from – including over 30 from local schools.
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“From the beginning, we knew that Matica would be able to deliver on our strategy of getting a card into the hands of our members as fast as possible, while also providing peace-of-mind when they make purchases,” said Josh Goodman, manager of Payment Operations at Altra. “Matica’s agile team has been able to customize the instant issuance program to fit our needs – this includes the ability to add any design that we want as well as to integrate into our core system – which were key selling points for us. Altra now boasts a higher penetration rate than other credit unions in our peer group, and we believe that one of the greatest contributors stems from the fact that we offer secure instant issuance.”
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