A new study from Juniper Research has revealed that the number of payment cards issued per year over digital platforms will surpass 1.3 billion in 2027, up from 500 million in 2023.
The increase of 170 percent indicates a high level of interest in enhancing the accessibility and replacement of cards offered by issuers.
The research included their latest Competitor Leaderboard, ranking the top 16 digital ID card issuing platforms based on criteria such as their solutions’ completeness and future business prospects. According to Juniper Research, those that scored well in the rankings did so due to a breadth of customization options and many customers and capabilities, such as personalization and tracking.
The top five vendors for 2023 are Thales, G+D, FIS, Fiserv and Marqeta, according to the report. Going forward, Juniper Research noted that digital card issuing platform vendors must create solutions that are easy to use and deploy.
Nick Maynard, co-author of the report, comments: “For issuers, staying relevant in an increasingly tech‑enabled banking market is challenging. Improving the flexibility, transparency and personalization of the card issuing process is an important way issuers can increase the user experience. As such, issuers should look to design superior user experiences, leveraging the capabilities that digital card issuing platforms can provide.”
Thales’ D1 card issuing platform for physical, digital, and virtual cards uses fingerprint or selfie biometrics to verify the identity of the cardholder.
G+D recently launched the Convego Now portfolio of issuance services, which includes Auth-U for biometric authentication.
As another example, Idemia’s digital card issuance services can accommodate enrollment to biometric payment cards.
Additionally, Entrust’s digital platform for card issuance utilizes native device OS biometrics to instantly provision cards to users’ digital wallets. A new study from Juniper Research has revealed that the number of payment cards issued per year over digital platforms will surpass 1.3 billion in 2027, up from 500 million in 2023.
The increase of 170 percent indicates a high level of interest in enhancing the accessibility and replacement of cards offered by issuers.
The research included their latest Competitor Leaderboard, ranking the top 16 digital ID card issuing platforms based on criteria such as their solutions’ completeness and future business prospects. According to Juniper Research, those that scored well in the rankings did so due to a breadth of customization options and many customers and capabilities, such as personalization and tracking.
The top five vendors for 2023 are Thales, G+D, FIS, Fiserv and Marqeta, according to the report. Going forward, Juniper Research noted that digital card issuing platform vendors must create solutions that are easy to use and deploy.
Nick Maynard, co-author of the report, comments: “For issuers, staying relevant in an increasingly tech‑enabled banking market is challenging. Improving the flexibility, transparency and personalization of the card issuing process is an important way issuers can increase the user experience. As such, issuers should look to design superior user experiences, leveraging the capabilities that digital card issuing platforms can provide.”
Thales’ D1 card issuing platform for physical, digital, and virtual cards uses fingerprint or selfie biometrics to verify the identity of the cardholder.
G+D recently launched the Convego Now portfolio of issuance services, which includes Auth-U for biometric authentication.
As another example, Idemia’s digital card issuance services can accommodate enrollment to biometric payment cards.
Additionally, Entrust’s digital platform for card issuance utilizes native device OS biometrics to instantly provision cards to users’ digital wallets. Read More