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EFT Source's Card@Once? Receives U.S. Patent for Unique Instant Issuance Process

Thursday, May 2, 2013 9:30 AM

EFT Source, Inc., a provider of turnkey card programs and personalization services for ATM and debit cards for financial institutions, announced that its instant issuance solution Card@Once received a patent from the United States Patent and Trademark Office, declaring its Payment Card Industry Data Security Standard (PCI DSS) compliant process as unique to the industry.

Instant issuance technology allows financial institutions to instantly deliver financial transaction cards, reducing the delivery time from days to minutes. Card@Once’s patented branch card printer network eliminates the need for financial institutions to develop full infrastructure to support the printing of personalized payment cards. The Card@Once network is monitored 24/7 by EFT Source’s technical team to ensure any network issues are identified and eliminated immediately; thus removing unexpected technical delays for the institution.

In addition, the patent grants exclusive rights for:

  • The secure communication and storage of card file data across the Internet to and from the Card@Once printer at the branch;
  • A perimeter network coupled to the card services provider network;
  • A virtual private network for secure data encryption and communication between the branch card printer network and the card services provider network;
  • The card file data that is programmed to the card, including the PIN calculation data; and
  • The communication of successes or errors to the branch across the network.

Card@Once provides secure, instant issuance of debit, pre-paid and reloadable cards at the branch location. In addition to higher levels of convenience, Card@Once increases activation rates and interchange revenue, increases levels of customer satisfaction and provides a cost savings for financial institutions of up to 30 percent over traditional issuance methods. Within the last 18 months, more than 100 financial institutions have successfully deployed the patented solution, evidencing its success and positive impact on the financial services industry.

“EFT Source has been a participant in the development of instant issuance since its inception, and the case for its adoption is now much stronger due to the development of technology in recent years,” said Bill Dinker, president of EFT Source. “This patent establishes Card@Once and its PCI DSS certified card printer network as truly unique and is reflective of our commitment to refining instant issuance technology.”

About EFT Source Inc.

Established in 1977, EFT Source provides financial institutions with turnkey card programs and secure personalization of ATM and debit cards – from conceptual art to creative fulfillment services. Based in Nashville, Tenn., EFT Source also has a production facility in Colorado Springs, Colo., and a facility in Green Bay, Wis. that focuses on marketing and print services. For more information, visit www.eftsource.com.

(Source: Business Wire )
(Source: Quotemedia)


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