CPI Extends 24-Year Vericast Partnership to Meet Rising Instant…

Event summary

CPI Card Group renewed a multi-year service agreement with Vericast, extending a 24-year partnership.
The deal focuses on providing physical cards and Card@Once® instant issuance solutions to U.S. banks and credit unions.
74% of consumers in a Vericast survey prioritize instant card issuance, with 86% of Millennials and 85% of Gen Z respondents emphasizing its importance.
Vericast has been a key reseller of CPI’s Card@Once® since its 2011 launch as the first SaaS-based instant issuance solution.

The big picture

The renewal underscores the strategic importance of instant issuance in the payments industry, as financial institutions seek to enhance customer convenience and security. With consumer preferences shifting toward immediate access, CPI and Vericast are positioning themselves to capitalize on this trend, particularly among younger demographics. The longstanding partnership highlights the stability and scalability of their combined solutions in a rapidly evolving market.

What we're watching

Consumer Expectations: How the growing demand for instant issuance will shape CPI’s product roadmap and Vericast’s service offerings.
Market Penetration: Whether CPI and Vericast can sustain their leadership in instant issuance as fintechs and neobanks expand their market share.
Technological Innovation: The pace at which CPI integrates new digital payment solutions alongside its physical card offerings.