Card Issuing Is Becoming Digital First | HPS

Why It Matters

This shift reduces reliance on physical cards, accelerates product time-to-market and cuts operating costs, creating opportunities for banks and acquirers to scale internationally and for fintechs to offer richer, integrated payment services. The trend amplifies competitive pressure to adopt orchestration and modern, microservices architectures to capture volume and retain customers.

Summary

HPS pre-sales consultant Gom says card issuing is shifting to a digital-first model driven by fully digital onboarding, instant virtual cards deployable to wallets, and rising demand for numberless (PAN-less) plastic for security. He highlights payment orchestration as essential to stitch together KYC, scoring, loyalty and value-added services across disparate systems. The market is also seeing momentum in cross-border acquiring as acquirers seek scale and cost efficiencies, while microservices-based platforms promise faster feature rollout and immediate cost savings. Overall, banks and fintechs are prioritizing agility, security and volume-driven economics in payments technology.

Original Description

Why is card issuing becoming digital first?

At Money20/20 Europe 2024, we spoke with Guillaume Leclerc from HPS about the major shifts transforming payments orchestration, digital banking, and card issuing.

As customer expectations evolve and digital wallets become the norm, financial institutions are rethinking how cards are issued, onboarded, and managed.

In this interview, discover:

• Why digital card issuing is accelerating

• How changing consumer habits are reshaping payments

• Why Gen Z users increasingly prefer phones over physical cards

• The impact of BNPL and digital onboarding on payments orchestration

• How cross-border payments are evolving in real time

• Why banks are adopting microservices architecture for greater agility

• The growing trend toward bundled virtual and physical cards

Leclerc explains why consumers increasingly expect instant card issuance, immediate wallet integration, and seamless onboarding experiences — all while financial institutions navigate growing complexity across payments ecosystems.

From digital-first banking and BNPL to cross-border payments and microservices, this conversation explores the technologies driving the next generation of financial services.

Watch more interviews from Money20/20 Europe :

https://ffnews.com/fintech-tv/event/2024/money20-20-europe-2024/card-issuing-is-becoming-digital-first-hps-money20-20-europe/

@Money2020Tv @hpsworldwide4248