CPI™ (Nasdaq: PMTS), a payments technology leader, has renewed its multi-year service agreement with Vericast. The agreement strengthens a strategic relationship that now spans 24 years. CPI will continue serving as Vericast’s preferred supplier for payment solutions. The renewed agreement covers physical cards and integrated payment technology. It also includes Card@Once® instant issuance. The solution helps financial institutions provide cards to customers without extended delivery waits.
The banking and payments industry is still driven by consumer expectations. Now financial institutions are being asked to provide greater convenience, security and faster access to accounts. Hence instant issuance has become a key feature of modern card services. This is what consumers want, according to a 2025 Vericast survey. Nearly three-quarters of respondents said instant card access is important to them. Specifically, 74% said they felt it was important to get a credit or debit card immediately from their financial institution.
Demand has risen among younger generations of customers. In fact, the survey showed that 86% of Millennials indicated a preference for instant issuance. Also, 85% of Gen Z respondents stated that they place importance on instant issuance. This suggests new changes in the price. Customers are expecting more convenience in the sphere of financial services. Hence, payment technology development is being widely studied by banks and credit unions.
“Consumer expectations continue to evolve, and financial institutions need solutions that can evolve with them,” said Nicole Machado, Vice President of Product Management, Card Solutions at Vericast. “For nearly a quarter of a century, Vericast and CPI have combined our complementary strengths to help our clients deliver better cardholder experiences. Together, we provide the scale, expertise, and innovation needed to help drive-long term engagement for banks and credit unions.”
Longstanding Payment Technology Relationship
Vericast has played an important role in expanding instant issuance across financial institutions. The company was one of CPI’s first resellers to offer Card@Once instant issuance. CPI launched Card@Once in 2011 as the market’s first SaaS-based instant issuance solution. Since then, Vericast has helped extend the technology to financial institutions of different sizes.
The renewed agreement continues this collaboration across payment solutions. It also supports institutions seeking stronger card issuance capabilities. Furthermore, the relationship gives banks and credit unions access to integrated payment technology. Card@Once supports the growing need for instant card issuance. It can help financial institutions respond to customers when they need a replacement or new payment card.
The partnership also connects instant issuance to broader card services. These services include physical card production, personalization and fulfillment. Combined, these capabilities enable a more connected card delivery process.
Supporting Faster Cardholder Experiences
The renewed CPI and Vericast relationship comes as banks and credit unions focus on customer experience. Financial institutions must respond to consumers who expect faster access to payment services. Instant issuance can help institutions meet those expectations at the point of service. It also gives customers access to payment cards without relying only on traditional delivery methods.
CPI will combine Card@Once instant issuance with additional card production services. These services include end-to-end manufacturing, personalization, and fulfillment. The company also provides a Las Vegas-based print-on-demand solution. This capability supports financial institutions that need flexible card production and fulfillment.
Together, these services can help institutions support card activation from day one. They also give financial institutions tools for building longer-term relationships with cardholders. The partnership reflects the broader evolution of payment technology. Consumers increasingly expect financial products to offer speed, convenience, and accessibility.
“Consumer expectations move fast, and issuers need partners who move faster,” said Peggy O’Leary, Chief Commercial Officer at CPI. “With Vericast, we’re combining Card@Once instant issuance with end-to-end manufacturing, personalization, and fulfillment, including our Las Vegas-based print-on-demand solution, so financial institutions can drive activation from day one and build relationships that last.”
The continued collaboration gives CPI and Vericast a platform to address changing cardholder expectations. It also reinforces the role of instant issuance in modern banking technology. As consumer demand evolves, financial institutions continue seeking payment solutions that can support faster service. CPI and Vericast will continue their longstanding collaboration through integrated card solutions and instant issuance technology.
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News Source: Businesswire.com
