Mexico. Banking in Latin America is spreading more and more, with studies that ensure that 86% of young people between 18 and 30 years old have a debit card, using it mostly to make purchases.
As for credit cards, Latin America is the third region in the world with the highest annual growth of this type of card, billing more than US $ 760,000 million in purchases annually, with Argentina, Chile and Colombia as the countries where more cards of this type have been issued since 2008.
Due to the massification of these cards, the ability to issue them and deliver them to the customer for immediate use is key to increasing the competitiveness, both of financial institutions and merchants that deliver their own cards, maintaining the high levels of security expected of them and replacing the slow and expensive system of issuing cards that are sent by registered mail.
An example of an entity that issues secure debit cards quickly is the Greek bank Piraeus Bank. The bank required an innovative, easy-to-implement, fast and cost-effective solution for instant debit card issuance directly at its offices, and found it with HID Global's FARGO technology, used today in 300 of its branches in Europe.
Piraeus Bank's Director of IT Operations, Harris Voutsas, explained that "the solution is truly economical and its integration capacity is unbeatable in the bank's high-security IT environment", implemented in just three months and with a return on investment in just one year, also benefiting its customers, who can use their new card immediately.
In turn, Dimitrios D. Garbis, Chief Operating Officer of CubeIQ, a company specializing in financial solutions for the region, said that the solution with FARGO means a significant reduction in costs for financial institutions, since "computers or additional software are not required to implement card printing."
For this reason, "HID Global's secure card issuance solutions have proven to be the most reliable and robust on the market," said Craig Sandness, Global Vice President of Secure Issuance for Enterprises at HID Global, contributing to a better banking experience for financial institution customers.
