Switch launches CardSavr to notify issuers about cards-on-file activation

Monday 26 February 2018 10:52 CET | News

Switch, a fintech company, has launched CardSavr to notify card issuers that the reissued cards are placed into circulation after activation on ecommerce sites.

The CardSavr ROI (return on investment) model is structured specifically to increase revenue or redeem the significant revenue lost by issuers and merchants.

Due to loss, theft and fraud, billions of credits cards are reissued each year. The API also provides visibility to track and increase the usage of newly issued cards.

The challenge to sustain healthy credit card circulation is compounded by:
• The increasing number of cardholders engaging in online commerce;
• The average consumer carries 3.2 credit cards in their wallet;
• The average email address is associated with more than 130 online accounts.

CardSavr assists ecommerce sites without any need for integration by the merchants, resulting in a greater reach for card updates than conventional methods currently employed by the card networks.

The API enables card issuers to embed Switch’s card-updating technology into their existing web and mobile banking application infrastructures with 100% control of the user experience.

Switch’s CardSavr API is a standard REST API that supports basic CRUD operations for cards-on-file. Advanced cryptography practices are utilised that exceed the PCI requirements for transaction security and confidentiality of cardholder data.

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Keywords: Switch, CardSavr, cards, Issuer, ecommerce, card-on-file, fintech, online payments
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce