Credit Card Issuing: U.S. Bank Launching Immediate Mobile Card Issuing App
- U.S. Bank has announced a new iPhone-dedicated mobile app for instant issuing of virtual credit cards to be used on-the-spot.
- The user downloads the app for free and can directly apply for a credit. His request is instantly accepted and associated with a virtual card for POS or online use.
- The app also provides the customer with a series of services to help him manage and track back his expenses. Also, it enables direct access to the U.S. Bank’s mobile website as well as to its partners’ discount offerings.
- This solution is currently being tested and, for now, relies on a unique partnership. The offer must however be expanded to new merchants before the end of the year; an Android version should also be proposed.
- Instant card issuing has been under consideration for years: the waiting period between the customer’s application for a card and its delivery had to be reduced, most of all in the context of credit offers. U.S. Bank has opted for a less complex solution, which is also less expensive to set up than POS printing equipment. This added value service benefits to both retailers and customers.
- The use of Smartphones seems to allow for the development of innovative, convenient and cheaper service offers. U.S. Bank’s solution also makes it possible to add further mobile-appropriate services to the financing offer.