CPI Card Group Inc. (Nasdaq: PMTS, TSX: PMTS) (“CPI”), a global leader in financial and EMV® chip card production and related services, today released “Payment Objects: An Evolution in Convenience,” a white paper that explores the latest converging trends impacting both open-loop and closed-loop payment object applications and shares insights on how companies can leverage the technology for success.
The rise of payment objects – any wearable or non-wearable portable device, article or item consumers can use to transact a payment – could be the next natural step in payments’ evolution, as the world grows increasingly connected through Internet-enabled devices. Almost any item can contain technology, an app or data to enable payments, transforming cups, hats, watches, keychains, necklaces, and other everyday objects into open-loop or closed-loop payment-capable devices. Considering the growing popularity of payment objects, it is an ideal time for companies to explore payment object applications of their own, particularly given the technology’s potential to elevate a brand, improve customer experience and grow market share.
“The versatility, convenience and improved experience payment objects offer consumers, paired with the transaction speed and branding potential they can deliver to issuers and merchants, suggest the technology can be truly transformative,” said Jason Bohrer, SVP and General Manager, Secure Card Solutions, CPI Card Group. “We hope this white paper helps organizations better understand the challenges and opportunities around payment objects and equips them with insights needed to capitalize on its promise.”
“Payment Objects: An Evolution in Convenience” highlights the factors behind the rise of payment objects, the challenges that remain before they can see widespread adoption and the benefits they can deliver – as well as how issuers and merchants can leverage them.
For companies interested in unlocking the potential of payment objects, CPI has introduced Adaptives™, embedded contactless technology that is approximately the size of a postage stamp. Its intentionally small size, thinness and flexibility allows companies to “adapt” the technology to a multitude of end uses and form factors that reflect their unique brand and address evolving customer preferences.
To download “Payment Objects: An Evolution in Convenience,” click here.
To learn more about CPI’s AdaptivesTM, click here.
About CPI Card Group®
CPI Card Group is a leading provider in payment card production and related services, offering a single source for credit, debit and prepaid debit cards including EMV® chip and dual interface, personalization, instant issuance, fulfillment and digital payment services. CPI has more than 20 years of experience in the payments market and is a trusted partner to financial institutions. Our solid reputation of product consistency, quality and outstanding customer service supports our position as a leader in the market. Serving our customers from locations throughout the United States, we have a large network of high security facilities, each of which is certified by one or more of the payment brands: Visa, Mastercard®, American Express and Discover®. Learn more at www.cpicardgroup.com.
EMV is a registered trademark or trademark of EMVCo LLC in the United States and other countries.
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Contacts:
Sourav Das
203-682-8283
media@cpicardgroup.com
