May 2022

Why Instant Issuance Matters

The credit card industry is undergoing a massive transformation, from the appearance and functionality of credit card products to the habits and preferences of consumers. Instant issuance has taken on an entirely new shape and utility, and it is becoming increasingly central to how both financial institutions and small businesses conceive and design their core offerings. It is the fastest way for cardholders to receive their new credit cards. Upon approval, they can instantly add a virtual card to their digital wallet. This allows any newly-approved cardholder to start spending immediately with their card.

As a digital-first, cloud-based credit card platform, Deserve is proud to be on the leading edge of instant issuance, helping businesses easily issue digital credit cards. Curious? We thought so. Let’s take a look at exactly what instant issuance means in the digital age and how you can advance your business by adding it to your credit card offering with Deserve.

Why instant issuance matters for consumers

As one of the most secure ways of carrying money, instantly issued digital cards are fully encrypted to prevent fraud and help cardholders spend worry-free. For any digital wallet transaction, the cardholder needs to authenticate their purchase with Face ID or a PIN, which makes it far more secure than a physical card that someone else could find and use.

Beyond consumers’ need for secure payment methods, their behaviors and demands are also evolving at an incredibly rapid pace. The e-commerce space, for example, had already been experiencing considerable growth, but only a few months after the emergence of COVID-19, that growth had already accelerated by 4 to 6 years. Consumers are also developing an unrelenting preference for digital payment methods, both online and in stores. In a recent international survey conducted by Visa, almost half of consumers stated that they wouldn’t shop at a store that failed to implement some form of contactless payment option. And, according to our survey from March 2022, 60% of respondents reported regularly spending with digital credit cards instead of physical.

However, meeting the demands of consumers isn’t the only reason that businesses should make instant issuance part of their credit card programs.

Why instant issuance matters for businesses

At Deserve, we created our Digital First Card that is, you guessed it, digital-first and only exists as a virtual card. Now, some of our partners such as Seneca Women, Earnest, and Krowdfit are leveraging our instant issuance technology for their credit card programs because, in addition to the evolving demands of consumers, the potential benefits of instant issuance for businesses and financial institutions are many. Let’s focus our attention on two advantages: innovation and cost savings.


Businesses launching co-branded card offerings, or any credit products for that matter, need reliable ways to make their products stand out from the competition. In addition to all of Deserve’s other platform features, instant issuance allows businesses to go above and beyond in what they can offer their consumer bases, facilitating innovation in everything from functionality to convenience. For example, in addition to providing consumers with instant access to their digital cards or wallets, businesses can supplement offerings with useful and convenient applications, such as personalized expense management tools and interactive rewards programs.

Cost savings

Providing consumers with instant access to a digital card or wallet eliminates the cost of issuing printed plastic cards or paper checks (something even the environment will be thankful for). Additionally, advancing tokenization and cloud-based technology can potentially cut costs by helping businesses reduce costly overseas transaction fees and lower the risk of losses due to fraud or theft.

An "instant" future

No more waiting 10 days for a credit card to come in the mail. At Deserve, we’re leading the transformation of credit cards from plastic to code. From instant issuance and flexible rewards to our unparalleled speed-to-market and crypto integrations, our platform combines industry-leading features to help businesses increase brand awareness and share of wallet.

What are you waiting for? Check out our website today and learn how you can partner with Deserve.

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