Verient and DCS Introduce Customized Payment Product

DCS and Verient introduce instant issuance of customized payment products

Englewood, Colo., July 14, 2009 -- Dynamic Card Solutions (DCS), the leading instant card issuance, PIN selection and PIN change provider for financial institutions, and Verient, a leading developer of technologies and products for customizing multiple payment choices, today announced a technology integration that allows financial institution customers a more convenient and secure way to create an advanced payment customization program. By combining DCS' CardWizard® instant issue software and Verient's flagship InfiniPAY™ payment customization platform, financial institutions can now instantly offer their customers highly tailored multiple payment products from a single cardholder account.

DCS' patented CardWizard software and Verient's patent-pending InfiniPAY™ platform can be securely integrated into financial institutions' card management systems and online banking portals. Consumers can simply sign on to their banking website and, through Verient's software application, create a "Made-to-Order" payment product with the features and parameters they require. Customers will be able to use any of their accounts, such as credit card, checking, savings or home equity line of credit, and can create multiple payment products in a variety of form factors, including a physical card, contactless sticker or NFC chip on a mobile phone.

Delivery of the "Made-to-Order" payment card is simple. Once the payment controls and parameters have been set up by the customer, Verient's InfiniPAY™ platform works in conjunction with DCS' CardWizard instant issue software and associated hardware to instantly issue the card or other payment form factor at the branch location. DCS' CardWizard software interacts with Verient's InfiniPAY™ platform to securely transfer all the data and then personalize it onto an associated plastic, fob, sticker or other NFC-chip enabled device. Customers can simply walk into their full service location and immediately receive their "Made-to-Order" payment product.

Within Verient's InfiniPAY™ application, each card or other payment form factor has a unique pseudo number and can have unique controls defined by each individual customer, such as authorized amount, merchant type, location, time and channel of use, as well as activation and expiration date. For example, a customer who is traveling internationally can create a card that is linked to their bank or credit card account and set it so that it can be used only in specific countries at specific times; a customer can ask for a card product to be used only in a specific merchant type(s); or a parent can create a card for a child with full parental control. The solution works seamlessly with the merchant and financial institution legacy systems, and the unique pseudo number protects against fraud and identity theft because the merchant never receives the customer's original account number. In addition, customers can instantly change control parameters on the "Made-to-Order" card through a web browser, by sending an SMS message, or though an interactive voice system.

"We are pleased to be integrating Verient's InfiniPAY™ platform to CardWizard and offering financial institutions another way to increase customer service and satisfaction through our instant issue platform with "Made-To-Order" cards," said Ron Zanotti, senior vice president of DCS. "We live in a high-tech, high service, instant information and gratification society. A customer waiting for their cards to arrive in the mail five to 10 days after they order them just doesn't make sense today, especially if the financial institution has a branch delivery network. Consumers want everything quickly and instant issue gives them what they want."

"Integrating our innovative InfiniPAY™ platform with the industry leader of instant card issuance, Dynamic Card Solutions, provides financial institutions with a powerful combination they cannot find anywhere else," said Rajesh Shakkarwar, founder and chief executive officer of Verient. "Today's customers ask for instant, highly customized solutions and now they will be able to create multiple cards or other payment form factors each one tailored to their unique and individual needs and delivered on demand."

For more information about Verient's payment customization platform, please visit www.verient.com .



For more information about DCS' instant issue technology offerings, please visit www.instantissuance.com .

About Verient

Verient develops technologies and products that enable financial institutions and merchants to customize payment choices for their customers, thereby offering more convenient and more secure transactions for both Internet and in store purchases. This capability results in the capture of additional customer payments for the financial institution, thus increasing revenue, while at the same time reducing fraud losses.

The Verient InfiniPAY™ platform is compatible with existing merchant acquirers, card and EFT networks as well as financial institutions' legacy authorization and settlement systems. Verient's unique architectural approach (one issued and nine pending patents), and software-as-a-service model, provides financial institutions a fast, easy and economical path to offering payment options specifically tailored to customer needs.

Verient is located in the heart of Silicon Valley and is funded by DoCoMo Capital and Global Catalyst Partners. For more information about Verient, please visit our Web site at www.verient.com .

About Dynamic Card Solutions

Founded in 1996 and a wholly owned subsidiary of Dynamic Solutions International, Dynamic Card Solutions (DCS) develops instant issuance and PIN selection solutions for banks, credit unions and retailers that issue EMV, contactless and magnetic stripe cards. DCS is the leading instant issuance provider for Visa® and MasterCard® debit cards. The company offers fully integrated solutions that allow financial institutions and retailers to quickly and securely issue debit, credit and ATM cards instantly at branch or store locations. Issuing cards instantly increases customer service, card sales and revenue, and eliminates current card issuance costs. DCS' system includes a user-friendly administration component that provides full reporting, card inventory and more. All solutions utilize encryption and are compliant with recommended security procedures for instant issuance. For additional information, call +1 303.754.2000 or visit the Dynamic Card Solutions Web site at www.instantissuance.com .

Source: Company press release. 

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