As the world moves towards a cashless society, more people around the world turn to cards to make convenient payments every day.
According to the World Bank, there were 7.7 billion global banking cards in circulation in 2019. This number is expected to increase to 8.3 billion in 2023. But when one considers that approximately 1.8 billion people are still unbanked, the opportunity for financial institutions, be they banks, Financial Service Providers (FSPs), Mobile Network Operators (MNOs), airlines and retailers to offer their own bank cards is still huge.
But how can a business issue their own bank cards? In this blog post, our CEO Jan Ludik, discusses how Traderoot can enable businesses to manage the holistic relationship with their cardholders.
“Traderoot Technologies is a leading provider of white label card issuing solutions” says Ludik, ”allowing businesses to easily and securely issue their own bank cards. With Traderoot’s Card Management System, a business can quickly and easily create and manage their own card programs, from start to finish.”
What does the Traderoot Card Management System consist of?
The Traderoot Card Management System consists of:
- Traderoot Card Management System (CMS)
- Traderoot Card Production and tokenisation
- Cardholder profile management system
- Cryptographic Server
- Biometric enablement
- Stand-in processor support
- Voucher walletisation
The Card Management System (CMS) and Card Production System support the full production and issuing of all card types – credit cards, debit cards and prepaid cards, corporate or personal cards, travel or gift cards, loyalty and reward cards. It can also support and manage virtual cards, e-wallets or any other type of payment token you might wish to provide to your customers.
“The system enables cards to be fully customised and branded, with a streamlined production process that caters for all your needs and those of your customers,” says Ludik. “These cards can then be integrated with the card bureau of your choice to enable either early or late binding of all card products.”
Based on Traderoot’s modern technology stack, the CMS simplifies the process of managing each and every card in your user base. It covers the full lifecycle of all cards, from the moment they are issued to the moment they expire or are cancelled.
What kind of cards can be issued?
Cards issued by our Traderoot Card Production system use the latest payment technologies – such as NFC and mobile – and offer support for all EMV-enabled (chip-and-PIN) cards and tokens while ensuring the highest level of security, reliability and scalability.
With an intuitive user interface for managing different card profiles during the card lifecycle, as well as easy-to-use card issuing software, the CMS gives you all the tools you need to deliver and manage any card product that you and your customers desire.
“It goes without saying that security is at the core of every Traderoot Fintech product,” says Ludik, “and the CMS is no different, ensuring the best level of security by using an HSM to encrypt all card data. The product is PCI PA-DSS compliant, which means that certification for PCI DSS compliance in a retail environment is made easier.”
The product also functions as a stock-keeper of all electronic value, with third-party suppliers of electronic vouchers being given access to a virtual warehouse where digital value is stored for sale to the end customer. This enables the bulk pre-loading and import of vouchers from external suppliers so that the vouchers can be based on consignment or pre-financed rules.
Using Traderoot Technologies to issue your bank cards can provide a number of benefits for your business, including increased control and flexibility over your financial transactions, the ability to offer custom branded cards to your customers or employees, and the ability to reduce fees and increase revenue through your card program.