Tradition Capital Bank partners with CorServ for improved credit cards

Following this announcement, CorServ is expected to implement its credit card programme into Tradition Capital Bank’s suite of solutions.

Tradition Capital Bank’s new approach to managing digital credit cards

Through this partnership, Tradition Capital Bank aims to add a comprehensive credit card solution to its suite of banking services and provide new capabilities to its clients. By choosing CorServ’s Account Issuer Programme, the bank plans to offer virtual cards, ghost cards, spend controls, and self-service administration to its clients.

Digital cards, such as ghost or virtual cards, are expected to reach a value for global transactions of USD 6.8 trillion by 2026, and a projected compound annual growth rate of 20.9% by 2030 compared to 2023. These cards offer a number of benefits that encourage adoption by consumers, including, among others, faster payments, increased fraud prevention, and convenience for users.

The difference between ghost cards and virtual cards is that the latter take longer to roll out, are better optimised for fraud protection as they are often single-use and include automated programmes.

Ghost cards and virtual cards can share similarities, including the digital purchasing experience they provide and the eligibility for rebates. Additionally, both cards often feature self-service administration, allowing users to manage their own cards without assistance from bank representatives. This service offers convenience and flexibility for tasks such as updating personal information, making payments, and checking statements.

CorServ’s Account Issuer Programme provides capabilities such as improved credit card product options, an optimised self-service interface for company administrators to manage their cards, customisable reports including Level 2 and 3 transaction data, and an integrated expense reporting module. These features allow Tradition Capital Bank to actively participate in credit decisions and deliver more personalised services.