Wallets stuffed with plastic cards are inconvenient and complicate the payment process. So we've introduced new web services on the Way4 digital payment software platform for issuing multi-product cards. Now, credit, debit, and prepaid functionalities can be combined into a single product, eliminating the need for separate cards and enhancing the shopping experience for cardholders at POS and online. They can easily set up and modify the default card via a mobile app or another channel if the bank supports this feature.
Within the Way4 platform, a multi-product card is defined as a single card consolidating two or more payment applications for credit, debit, and prepaid products secured with a single PIN that can be easily modified for each application as needed. The issuer can create multi-product cards using flexible rules and web services. The new Way4 multi-product card web services offer features such as temporary card blocking, card re-issuing and closure by customer request. For issuers, this represents an opportunity to create unique and competitive card products, attract a broader customer base, build loyalty, and significantly reduce operational and production costs by decreasing the number of cards issued. Both plastic and virtual multi-product cards can be issued and tokenized instantly.
Explore more advantages that Way4 provides for card issuers here.