Card marketer and producer Arroweye Solutions‘ momentum from the second half of 2015 has continued into 2016, according to numbers released earlier this week.
1Q16’s revenue growth over 1Q15 was 58 percent. The company saw similar growth in its on-demand card business in the second half of 2015.
In a release the company cited industry need to timely fulfill the needs of EMV and traditional mag-stripe card holders as the main reason for that growth.
Arroweye’s technology provides just-in-time card production and card marketing materials to banks, credit unions, prepaid payments companies and retail gift card brands, all without the risk or extra expense of printing and storing card inventory.
“On-Demand technology is perfectly suited for EMV card production, because it maximizes flexibility and eliminates the antiquated practice of pre-printing and storing cards,” CEO Render Dahiya said. “This is a huge advantage for EMV cards, which can cost as much as ten times more than mag stripe cards.”
“In this dynamic regulatory environment, more banks and other card issuers are choosing Arroweye to maintain optimal flexibility and reduce risk as they transition cardholders to EMV-enabled cards.”
With more than 15 new initiatives soon to launch, Arroweye expects its growth to continue.
Tony Zerucha is the managing editor of Bankless Times.
A two-time LendIt Journalist of the Year nominee, Tony has written more than 2,000 original articles on the blockchain, peer-to-peer lending, crowdfunding and emerging technologies over the past seven years, making him one of the senior writers in the alt-fi sector.
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