Digital payments are a crucial part of modern commerce. Adapting to this shift in consumer payment habits is essential for banks, credit unions and fintechs to stay competitive in how they meet the expectations of their customers and partners and open new opportunities. However, these institutions occupy a middle ground between card issuance, payment data tokenization, technical transaction processing, and infrastructure administration – presenting costly challenges. For example, running an in-house payment tokenization and processing solution is costly and complex, and historically there has been no single vendor that could provide all of these services, forcing banks and credit unions to juggle multiple third-party vendors.
The technology partnership between DECTA and Entrust provides a solution, offering a timely and cost effective way for banks, credit unions and fintechs to provide cardholders a comprehensive digital card experience from a single technology source.