Card Lifecycle Management

Once launching card issuing projects, our customers usually forget that it is a long-term activity that requires constant verification and improvements. It is very important that you understand and manage your card holders and use best practices in card lifecycle management. Let me summarize key activities from a timeline perspective. 

Stage 1 - choosing a card issuing partner

Obvious step. Everybody focuses on financials and technical integration. Very few people check value-added services and other products. Almost no one is aware of PCI DSS & other security requirements that will make your life easier on stage 4 and later ones. Another common mistake is that you do not check the financial stability of your card issuing partner as if it is not important for your business and users. 

Stage 2 - implementation

Obviously important. No comments. Check Dev Zone and implement. Make sure your developers read specs carefully. Make sure you understand AML and KYC regulations so that you can comply with rules and the project can be built on strong fundamentals. A common mistake is not to consider Stage 4 - card lifecycle management processes are forgotten.

Stage 3 - launch 

Everybody focuses on this moment, plans campaigns, distributes cards. And usually this is the last implementation step of this new product. It is a mistake. 

Stage 4 - card lifecycle management

Once you are up and running, it is very important that you are able to monitor your portfolio, create reports, organise personalised campaigns and manage your portfolio in a very active way. There are several rules to follow in order to maximise your portfolio's earnings and performance. The most important ones are summarised below:

Card issuing is a long-term activity. Please do not think that you will launch it and everything will work properly. You should be constantly working to attract more users and teach existing users how to use the cards so that they add real value to your business. Good luck!

Thanks for reading.






Revision #3
Created 4 May 2024 13:07:17 by Krzysztof Drzyzga
Updated 12 May 2024 11:13:53 by Justyna Mazurek