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Here is a payroll debit card. It is a pre-paid debit card used to pay employees their payroll wages.

Payroll Cards – Payouts made simpler and seamless

Picture this scenario – a collections agency appointed by a lender has hired 1000+ feet-on-street (FOS) workforce to facilitate collections from delinquent customers. The dilemma in front of the agency is that almost 60% of these FOS contract workers don’t have a formal savings bank account. How do you manage to pay their salaries? 

In recent times we have witnessed the rise of the gig economy which consists of consultants, freelancers and  blue collared workforce. As per a NITI Aayog report, in India, the gig workforce is expected to expand to 2.35 crore workers by 2029-30. According to Statista’s 2021 report, India has the second largest unbanked population in the world at a staggering 20% of the population. The above facts and figures coupled together provide a massive opportunity for financial inclusion, perhaps one of the reasons why India has seen green shoots in the Fintech sector, which at large, is trying to solve for the financial inclusion of the new to bank & new to credit base of the population.

The answer to the above challenges lies in a payroll card. Payroll cards are prepaid cards that employers use to load an employee’s salary or wages in lieu of a formal cheque. The funds are distributed each payday, providing an alternative to direct deposit for those who cannot or will not hold a traditional account. Payroll cards are always reloadable, which means a worker uses the same card all the time instead of being issued a new card each payday.

Employees can conveniently access their wages with this setup without the need to maintain an account with a financial institution. They can receive their funds instantly, sometimes up to 48 hours early, depending on the issuer of the card.  They don’t need to worry about carrying large sums of cash to purchase necessary items. This also helps enterprises and MSMEs to promote digitisation of payments in-line with the government’s Digital India mission. 

The Pros and Cons of Payroll cards

As with any system of compensation, organisations and employees need to be aware of the  pros and cons of payroll cards before using or implementing this type of system. Here are the crucial points to consider:

 

Benefits of Payroll cards:

 

 

 

 

Challenges of Payroll cards:

 

 

In conclusion, Payroll cards become the logical choice for enterprises and corporations who have a sizable workforce new to the financial ecosystem. They are easy to issue, can be modularized as per the requirements of the enterprise and help in fund management both for the employees and the employer. This can also become an alternate revenue channel for enterprises.

At CARD91, we offer a flexible, robust & scalable full- stack card issuance platform. We work closely with Fintechs & enterprises to help them launch new age card programs in the shortest possible turnaround time (TAT) supporting multiple use cases such as Expense Management & corporate cards, and Payroll Cards to name a few. Our platform is agile which helps us stitch together a custom card program as per the needs of the client. 

 

Still struggling with employee & vendor payouts? Get in touch with sales@card91.io to understand how we can help you transform your payouts to your employees & vendors.

 

Authored by Bhushan Sawant, Director, Sales & Partnership

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The Evolution of Prepaid Cards: Empowering Financial Inclusion and Digital Transactions in India and Beyond

Introduction:

Prepaid cards have experienced a remarkable transformation over the past few decades, emerging as a powerful tool in the financial landscape. Originally introduced as a convenient means for gifting and travel, these cards have evolved with advancements in technology to meet the changing consumer needs.

Prepaid Cards in India:

In India, prepaid cards have had a significant rise in popularity due to their numerous benefits. Initially embraced as a safe and convenient alternative to carrying cash, these cards quickly became prevalent in various sectors, from retail and transportation to online shopping. Their proliferation was further accelerated by the expansion of the country’s digital infrastructure.

One pivotal moment in the evolution of prepaid cards in India was the advent of e-commerce and the widespread adoption of mobile wallets. Leading banks and fintech companies integrated prepaid cards into their mobile applications, enabling users to make quick and secure digital transactions. This integration propelled prepaid cards into the forefront of India’s burgeoning digital payment ecosystem.

The Indian government also played a crucial role in promoting prepaid cards to drive financial inclusion. Millions of unbanked and underbanked individuals gained access to digital financial services by advocating for their adoption in government schemes and benefits disbursement. Prepaid cards became a gateway to the formal banking system, empowering individuals previously excluded from traditional financial services.

Prepaid Cards on the Global Stage:

The transformation of prepaid cards is not limited to India alone; it has reverberated globally. Prepaid cards have become an integral part of the financial landscape in many countries, catering to a diverse range of consumer needs. They have emerged as an alternative to traditional bank accounts for the unbanked and underbanked population, providing access to vital financial services.

The rapid growth of e-commerce and the increasing demand for seamless digital transactions have fueled the global adoption of prepaid cards. Payment processors and fintech companies have collaborated to issue virtual prepaid cards, making online shopping more accessible and secure for consumers worldwide. These cards have played a pivotal role in bridging the gap between individuals and the digital economy.

Another significant application of prepaid cards globally is in the travel industry. Prepaid travel cards have become the preferred choice for international travellers, offering favourable exchange rates and enhanced security. They provide a practical alternative to carrying foreign currency, enabling travellers to make hassle-free transactions.

Expanding Functionality and Rewards:

Today, prepaid cards have expanded their functionalities beyond basic transactions to address evolving consumer preferences. Many prepaid cards now incorporate rewards programs, cashback offers, and other loyalty benefits. These additional features aim to attract and retain users, fostering a sense of value and engagement.

Conclusion:

The evolution of prepaid cards in India and globally has been transformative, empowering financial inclusion and enabling seamless digital transactions.

As prepaid cards continue to adapt to changing consumer preferences and technological advancements, they are poised to play an increasingly significant role in shaping the future of the financial landscape. With their convenience, security, and versatile functionalities, prepaid cards will continue empowering individuals and businesses alike, fostering financial inclusion and contributing to the growth of the digital economy.

Card91 presents a diverse collection of prepaid cards, catering to both domestic and international transactions, accompanied by a convenient switch system. Our integrated solutions empower businesses and authorised dealers with effortless operations, facilitating a wide range of applications. To gain a deeper understanding of our innovative solution, please contact us at sales@card91.io. Our team will be delighted to assist you and explore how our offerings can cater to your specific requirements.

Let’s unlock new possibilities together!

-Written By Khushboo Bakhru, Partnership & Sales

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New to Credit – A millennial’s wishlist from Credit Cards

After reading Amit’s blogpost that projects a whopping doubling of the credit card customer base within the next 4 years, I could not help but wonder which is the major segment of India’s population that could qualify as “The Aspirational Indians”. It didn’t take me a lot of effort. With the cues that the economic growth of India is throwing at us – premiumisation trend, luxury / revenge travel, rising number of entrepreneurs, etc. – I could easily conclude that it’s the Gen-Z that’s driving credit card growth.

 

Okay, now how do you lure this class of potential credit card customers? I remember students of top B-schools getting free credit cards from established issuers. But what about the rest of the young aspirationals? We all know there’s enough competition with some legacy Issuers who’ve got the proverbial “first-mover advantage”, but that also implies they’ve got the legacy systems! How can the next generation of Issuers work using first principles and craft a lean and superior product? We, at CARD91, will surely answer this question in the next few days to come ☺

 

However, for now, let’s just focus on the specific preferences, lifestyle, and spending habits of this demographic. Here are some features that I felt could be appealing:

 

Instant Card Issuance:

Millennials hate to wait! If an Issuer imbibes this core principle, a major advantage over legacy Issuers is already gained. Quick and easy application processes with instant card issuance for immediate use are absolutely non-negotiable for Gen Z.

 

Credit Card on UPI:

Although one may be new to credit card, UPI is omnipresent now! Gen Z is pretty familiar and comfortable using UPI and therefore, this is one of the must-have features to capture the market especially when the legacy issuers are still struggling to make it functional.

 

Reward Programs for Online Shopping, Food Delivery, Dining, and Entertainment:

Tailored rewards or cashback for online shopping on popular e-commerce platforms, special discounts on food delivery services or dining at partnered restaurants, and exclusive access to movie theatres, streaming services, music subscriptions, and live events are a must have!

 

Low Forex Markup for International Travel:

Unlike the previous generations, Gen Z is more keen to discover the world from an early age. Since it may still not be earning much, a LOW / ZERO FX mark-up feature on credit cards is surely a hotseller!

 

Travel Rewards for International or Domestic Trips:

Millennials are explorers in the true sense – domestic or international travel is always on their mind, and on the cards 🙂. Travel-related benefits such as discounts on domestic flights, hotel bookings, or holiday packages within India, exclusive lounge access, and waiver on fuel surcharge are needed in every credit card targeted at this generation.

 

Local Lifestyle Perks:

Millennials consider work-life balance very important in their overall well-being and are spoilt for choices when it comes to including “life” in their lifestyle! An Issuer must get into partnerships with local brands, gyms, spas, or wellness services to provide discounts or exclusive offers.

 

Financial Management Tools:

Millennials are eager to learn about building a large corpus. Budgeting features, spending insights, and real-time notifications to help cardholders manage their finances effectively can be a good attraction. An educational initiative on how to get maximum benefit from a credit card by being a transactor can help. Also, a tie-up with any personal finance assistant offering discounted or complimentary services is a plus point.

 

Customized Offers:

Millennials love personalized experiences! AI-led tailored promotions and discounts based on spending patterns and preferences can be a good draw.

 

Gamified Rewards:

Accelerated rewards with increasing spends and other milestones can hold this generation’s interest and drive higher card usage.

 

Language and Regional Support:

Although we are a large, English speaking nation, there’s an even larger chunk of population (Gen Z included) that still prefers Hindi or a local language. To create that “wow” factor, the Issuer can offer customer service and mobile app interfaces that support multiple languages and cater to regional preferences. 

 

Student-focused Features:

Career development is an important focus area for this generation. The Issuer that can give access to online courses, career-building resources, student discounts, or networking events to support professional growth will surely have an edge over others.

 

Flexible Credit Limits:

Millennials are either yet to start their professional journey or are in a very early stage. Cards that allow for flexible credit limits based on income and spending habits, giving users more control, are certainly more acceptable.

 

Green Initiatives:

With the increasing exposure to sustainability initiatives in academic institutions over the last few years, even my daughter teaches a lesson or two to me! Issuers offering cards manufactured in an eco-friendly manner or those with features that contribute to environmental causes will be able to emotionally connect with Gen Z millennials!

 

Collaborations with Local Influencers:

This generation has a far more extensive online social presence than physical presence. Partnering with popular local influencers or celebrities who are active online for exclusive offers and promotions can drive higher card usage.

 

Understanding the local culture, preferences, and the unique challenges faced by millennials in India is crucial to design the right credit card product that resonates with this demography. Additionally, keeping up with the rapidly evolving digital landscape and incorporating technology-driven solutions will likely appeal to the tech-savvy nature of millennials.

 

If you’re an Issuer, no time better than the present to launch a credit card product for this generation. 

 

Authored by Shailabh Kothari, Director – Sales and Alliances at CARD91

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Unlocking the Power of Reward Loyalty Programs in Credit Cards: Enhancing Value-added Services

In today’s fast-paced world, credit cards have become an integral part of our financial landscape, offering convenience, security, and flexibility for seamless transactions both online and offline. However, credit cards go beyond mere payments, providing a range of value-added services that enhance the overall user experience. One such service gaining prominence is the Reward Loyalty Program.

 

Reward Loyalty Programs incentivize cardholders for their spending habits and loyalty to a particular credit card issuer. These programs offer various benefits, including differential reward points, closed-loop EMI programs, meta-data engines, and cardholder-defined actions, significantly enhancing the cardholder’s experience.

 

Differential Rewards Points:

A key feature of Reward Loyalty Programs is the differential rewards points system, allowing credit card issuers to offer rewards based on cardholders’ spending patterns. This feature goes beyond Merchant Category Codes (MCC) or Transaction Identification (TID), allowing customization based on parameters such as pin code, duration, or specific MCC for particular dates. For instance, cardholders may receive 5x reward points during special occasions like birthdays or wedding anniversaries, adding a personalized touch to the rewards program.

 

Meta Data Engine:

The Meta Data Engine enhances portfolio management for credit card issuers by efficiently processing vast amounts of data for better decision-making. This tool empowers portfolio and product teams to collaborate effectively, enabling them to identify new opportunities and convert potential customers into cardholders.

 

Card Holder Defined Actions:

The Card Holder Defined Actions feature empowers cardholders to take various actions through mobile applications, such as increasing credit limits or using reward points as per their preferences. Integration with aggregator EUROP Assistance enables cardholders to redeem rewards across various industries and companies, enhancing flexibility and utility.

 

In conclusion, Reward Loyalty Programs in credit cards offer a holistic approach to enhancing the cardholder experience, particularly appealing to the millennial demographic. By offering personalized rewards, affordability through EMI options, efficient data management, and user-defined actions, credit card issuers can differentiate themselves and add significant value to their customers’ financial journeys, aligning with the evolving preferences of the millennial generation.

 

Authored by Deepak Bhatt, Director of Sales at CARD91

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CARD91 introduces Optimus – Credit Card Issuance: REDEFINED

In today’s ever-evolving financial landscape, optimizing credit card management processes is imperative for sustained growth and regulatory compliance. That’s why I’m excited to introduce Optimus – an advanced credit card tech stack meticulously developed by CARD91. Optimus, derived from Latin meaning “The Best,” signifies a significant advancement in credit card life-cycle management, empowering financial institutions and raising customer service standards. 

 

With its customer-centric approach, Optimus enables financial institutions to meet the diverse needs of digitally savvy users. Through secure onboarding and a seamless digital journey, Optimus facilitates faster customer onboarding and improved service quality. By providing personalized rewards and streamlining processes, Optimus enhances customer satisfaction, elevating the overall customer experience and delivering added value to help institutions stand out in the rapidly growing credit card market.

 

Here are key features that position Optimus as a game-changer in credit card management

 

Regulatory Compliance and Modernity:

Optimus is meticulously designed with a modern and modular framework to ensure strict adherence to industry regulations. This architecture provides financial institutions with a robust platform to navigate complex regulatory landscapes confidently. By upholding regulatory standards, Optimus mitigates the risk of penalties and legal issues, fostering a secure operational environment.

 

Configurable Credit Programs:

Optimus offers unparalleled configurability, allowing institutions to tailor credit programs to diverse customer needs and market dynamics. From setting credit limits to defining spending criteria and incentivizing usage, Optimus provides the flexibility to orchestrate credit programs seamlessly. This adaptability empowers institutions to stay agile and responsive to evolving market demands, driving innovation and maintaining competitiveness.

 

Customised Rewards:

Optimus enables financial institutions to offer personalized rewards tailored to individual cardholders’ preferences and spending habits. Whether it is cashback on specific categories, discounts at preferred merchants, or exclusive access to events, Optimus empowers institutions to create bespoke rewards programs that resonate with their customers, fostering stronger loyalty and engagement.

 

Digital-First Approach: 

Optimus offers a digital-first approach, prioritizing a user-centric experience aligned with modern expectations. By leveraging optimized digital channels and streamlined processes, Optimus enhances convenience and accessibility for cardholders, ensuring seamless interactions and efficient credit card management.

 

In conclusion, Optimus represents a transformative milestone in credit card management technology. With its robust regulatory compliance, configurable features, rewards program, and digital-first approach Optimus empowers financial institutions to navigate intricate regulatory environments while delivering unparalleled customer experiences.

 

I also extend my heartfelt congratulations to the exceptional CARD91 team for their dedication and innovation in launching Optimus

 

Ready to experience the future of credit card management? 

Reach out, and let us demonstrate the power of Optimus. Book DEMO now.

 

(Blog Authored By: Ajay Pandey, CEO & Co-Founder CARD91)

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Enhancing Security and Transparency: A Comprehensive Guide to Issuer-Led Tokenization

In today’s digital era, the security of financial transactions is of utmost importance. With the rising prevalence of cyber threats and data breaches, it’s crucial for financial institutions to adopt robust security measures to protect sensitive card information. One such innovative solution gaining traction is issuer-led tokenization. Let’s explore what issuer-led tokenization is, how it works, and why it’s important, all explained in straightforward terms.

 

Understanding Issuer-Led Tokenization:

Issuer-led tokenization is a sophisticated security measure designed to safeguard sensitive card data during transactions. Unlike traditional methods of storing card details, tokenization replaces this information with unique identifiers, known as tokens. These tokens retain the essential characteristics of the original data but are meaningless to unauthorized parties. In the context of card on file (CoF) transactions, issuer-led tokenization ensures that card data is securely stored and transmitted, minimizing the risk of data breaches and fraudulent activities.

 

Process of Issuer-Led Tokenization:

 

  1.  Token Generation: Card issuers generate unique tokens for each cardholder, securely storing them on devices and issuer systems.
  2. Customer Consent: Before tokenizing card data, card issuers obtain explicit consent from the cardholder, ensuring transparency and accountability in the tokenization process.
  3. Tokenized Transactions: During payments, meaningless tokens are transmitted instead of sensitive card details, ensuring security and confidentiality.
  4. Secure Storage: Encrypted tokens and card details are securely stored, preventing unauthorized access and data breaches.
  5. Compliance with Regulatory Guidelines: Issuer-led tokenization adheres to regulatory guidelines, including restrictions on storing actual card data and requirements for explicit customer consent.

 

Significance of Issuer-Led Tokenization:

 

Issuer-led tokenization offers several benefits, including:

  1. Enhanced Security: By replacing sensitive card data with tokens, issuer-led tokenization strengthens the security of card transactions, reducing the risk of data breaches and fraudulent activities.
  2. Transparency and Accountability: Explicit customer consent and adherence to data storage guidelines promote transparency and accountability in the tokenization process, fostering trust between cardholders and issuers.
  3. Regulatory Compliance: Compliance with regulatory guidelines ensures that card issuers maintain the integrity and security of card data, mitigating potential risks and liabilities.

Issuer-led Vs Acquirer-led tokenization:

Tokenization, whether led by the issuer or the acquirer, serves as a crucial security measure in today’s digital payment landscape. When led by the issuer, tokenization involves the replacement of sensitive card details with unique tokens, enhancing security and protecting cardholder information during transactions. On the other hand, when led by the acquirer, tokenization offers merchants flexibility by allowing them to manage tokens and streamline payment processes. While issuer-led tokenization prioritizes security and cardholder control, acquirer-led tokenization focuses on merchant convenience and transaction efficiency. Both approaches contribute to a safer and more secure digital payment ecosystem, ensuring trust and reliability for all parties involved.

 

In Conclusion:

Issuer-led tokenization represents a significant advancement in the security and transparency of digital payments. By incorporating explicit customer consent and adhering to regulatory guidelines, card issuers can enhance the security of card transactions while maintaining transparency and accountability. As digital payment ecosystems continue to evolve, issuer-led tokenization emerges as a key strategy to safeguard sensitive card information and uphold the integrity of financial transactions.

 

Authored by Astha Bishnoi, Manager – Partnership & Sales at CARD91

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Revolutionising Transit within India: Pure NCMC Cards for Effortless Mobility

In India, where millions rely on public transportation for their daily commute, the introduction of the Pure National Common Mobility Card (NCMC) is a game-changer. The Pure NCMC are PPIs for usage at Mass Transit Systems only. It aims to facilitate seamless travel across metros, trains, buses, auto-rickshaws, and cabs, while also serving as a convenient method for toll and parking payments. This unified card, transcending regional limitations, embodies the concept of “One Nation, One Card,” significantly simplifying the travel process and enhancing efficiency for countless commuters nationwide.

 

Streamlining Travel Payments with Stand-alone NCMC Cards:

 

 

  1. Seamless Integration: NCMC Cards seamlessly integrate with metro, buses, rail, and waterways, offering commuters a hassle-free payment experience.
  2. Versatile Usage: Extend NCMC Cards to toll payments and parking fees, streamlining the entire travel payment process without the need for multiple cards or cash.
  3. KYC Exemption: NCMC Cards can be issued without the need for Know Your Customer (KYC) verification, accelerating the card issuance process.
  4. Reloadable and Perpetual Validity: NCMC Cards can be reloaded multiple times, with maximum card balance of INR 3000 at any point of time.. This ensures that commuters always have sufficient balance, with perpetual validity for uninterrupted access to funds.
  5. Transaction Restrictions: NCMC Cards restrict cash withdrawals, refunds, or funds transfers, ensuring they are solely used for travel-related purposes (specified Merchant Category Codes), and preventing misuse.
  6. Interoperability: NCMC cards are interoperable across different transit systems, enhancing convenience for users.

 

Effortless Payment Process with Pure NCMC Cards

 

NCMC cards run on the prepaid card rails of NPCI. They can be loaded electronically or by paying cash at designated counters. Payment with Pure NCMC cards is straightforward. Commuters tap or swipe the card at designated readers upon entry and exit for metros, buses, auto-rickshaws, or cabs. Fare deductions are automatic, eliminating the need for cash or multiple tickets. Similarly, for toll and parking payments, users tap or swipe their Pure NCMC card at respective terminals, streamlining transactions.

 

Transforming Travel with Pure NCMC Cards

Pure NCMC Cards are transforming travel in India, offering a seamless, efficient, and secure payment solution for commuters. As India moves towards a digital-first economy, the widespread adoption of NCMC Cards promises to usher in a new era of convenience and accessibility in travel payments, benefiting millions of commuters across the country.

 

At CARD91, we offer a flexible, robust, and scalable card issuance platform, collaborating with Banks, NBFCs, Fintechs, and enterprises to launch new-age card programs quickly. Our platform is ready to provide Pure NCMC cards, NCMC wallets in GPR cards, and NCMC through Credit cards, ensuring innovation and efficiency in digital payments.

 

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Authored by Astha Bishnoi, Manager – Partnership & Sales at CARD91

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Design Thinking in Credit Card Stack Development: Creating User-Centric Experiences

In today’s rapidly evolving financial landscape, where customer expectations are continually shifting, developing credit card stacks requires a strategic approach that places users at the center. Design thinking emerges as a powerful methodology for crafting credit card solutions that not only meet but exceed user expectations. Let’s explore how design thinking principles can be applied to create credit card stacks that resonate with modern consumers, leveraging the elements provided below:

 

 

1. Empowering Credit Card Issuance: A Unified Approach with One-Stop TSP Full Stack

A cohesive credit card issuance ecosystem is essential for seamless operations. By adopting a One-Stop Technology Service Provider (TSP) approach, integrating components like switch/processor, CCMS, UPI, ACS for 3DS, NCMC, Bank portal, co-brand portal, and a cardholder Mobile App, financial institutions can streamline processes and enhance user experiences. This consolidation enhances efficiency and provides a unified experience for both customers and financial institutions.

 

2. Modular Flexibility: Tailoring Solutions to Specific Needs

Every bank has unique requirements when it comes to credit card offerings. Modular flexibility allows banks to cherry-pick modules according to their needs, whether it’s a Rewards Engine, Instalment Plan/EMI module, NPA Management, or the entire stack. This approach ensures that the credit card solution aligns perfectly with the bank’s objectives and target market.

 

3. Highly Configurable for Diverse Credit Card Programs

Credit card programs cater to different customer segments and needs. They also work with different cobrand partners to power different use cases. A highly configurable credit card stack enables banks to orchestrate diverse programs seamlessly. Whether it’s secured/unsecured, retail/business/corporate, or charge/credit cards, the stack can adapt to different program requirements. This configurability empowers financial institutions to offer tailored solutions that resonate with their target audience.

 

4. Delivering a Fintech-Like User Experience

In today’s digital era, user experience is paramount. A customer-centric approach to mobile app design and user journey is essential for success. From DIY features to 100% digital onboarding, the mobile app must be intuitive, seamless, and user-friendly. By prioritizing user experience, banks can enhance engagement, loyalty, and satisfaction among their customers, setting themselves apart in a crowded market.

 

5. Rapid Implementation and Seamless Integration

Time is of the essence in credit card stack deployment. Banks need solutions that offer faster implementation, customization, and integration with minimal manual intervention. A well-designed stack should seamlessly integrate with existing systems like CBS, CRM, IVR, FRM, Collections System, Mobile Banking App, and Net Banking portal. This integration ensures operational efficiency and a cohesive user experience across all channels.

 

6. Rule-Based Operations: Ensuring Compliance and Personalisation

Compliance and personalization are two cornerstones of credit card operations. Rule-based systems within the credit card stack facilitate validations for regulatory compliance, including co-branding arrangements. Moreover, these systems allow for personalized actions at both aggregate and single-account levels, along with event-based notifications for consent and alerts, ensuring transparency and proactive communication with users.

 

7. Leveraging ML/AI for Real-Time Actions

Integrating machine learning and artificial intelligence enhances the capabilities of credit card stacks. Real-time actions such as fraud risk management and personalization of rewards/offers become more effective and efficient with ML/AI algorithms. By leveraging data analytics, banks can promptly detect fraudulent activities while delivering targeted offers that resonate with individual users, thereby increasing engagement and satisfaction.

 

8. Future Compatibility and Innovation

Anticipating future innovations and regulatory changes is crucial in the ever-evolving landscape of finance. A well-designed credit card stack is built from first principles, with scalability and adaptability to accommodate future advancements. For example, customization to support emerging technologies like Credit Line Management on UPI ensures that the stack remains future-proof, enabling banks to stay ahead of the curve while minimising costs.

 

In conclusion, design thinking offers a holistic approach to credit card stack development, emphasizing user-centricity, innovation, and efficiency. By embracing modular flexibility, configurability, and advanced technologies, financial institutions can create credit card solutions that not only meet the demands of today’s consumers but also adapt seamlessly to upcoming demand.

 

Authored by Astha Bishnoi, Manager – Partnership & Sales at CARD91

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