Compass Plus, the global payments software provider, has announced the launch of its Instant Issuance solution based on TranzAxis, its specialist open development banking platform.
TranzAxis Instant Issuance is an innovative solution that enables financial institutions to issue EMV and magstripe cards in-branch in a matter of minutes. There are a number of advantages of this type of issuance for both the issuer and the cardholder, which include speed and convenience, increased customer loyalty, increased card activation rates and decreased distribution costs, all of which come together to help a financial institution optimize its overall issuing process, making the most of their financial technology investment.
Since the launch of TranzAxis Instant Issuance, Compass Plus has embarked upon a project with Mühlbauer, the top manufacturer of high-end personalization equipment, in order to promote TranzAxis in the global market while enabling Mühlbauer to further expand its business into the banking sector, particularly instant card issuance.
"We are very excited to see more and more applications being developed on our new open development banking platform, TranzAxis, launched in November 2011," said Maria Nottingham, chief marketing and public relations officer at Compass Plus. "The TranzAxis Instant Issuance solution is another great example of how the platform's extensive capabilities can be utilized quickly to develop new fully customizable applications fit to serve an array of geographic markets and industry sectors."
TranzAxis Instant Issuance supports the Mühlbauer range of equipment as well as Evolis, CIM, DataCard, Matica and HID Fargo Printers line. Compass Plus also offers centralized and decentralized card issuance solutions, all of which can be very easily integrated into any card management system.