BankPro taps Arroweye to launch dual interface debit cards in the Caribbean
BankPro, a subsidiary of FxPro Group based in the Bahamas, has partnered with paytech firm Arroweye Solutions to deliver dual interface debit cards to its customers in the Caribbean.
BankPro taps Arroweye for dual interface debit cards
Dual interface technology means debit cards can be used to complete in-person transactions via two separate means of verification, either through entering a PIN into a traditional chip reader or by tapping the card on a contactless-enabled payment terminal.
Arroweye provides digital on-demand payment card production and fulfillment services and enables banks, credit unions and fintech companies to launch customisable card programmes for customers.
The US-based vendor will support BankPro’s debit card programme with its on-demand production model, which the company says “eliminates the need for pre-printed card inventory, enabling financial institutions to respond quickly to market demands and customer needs”.
For BankPro, which also offers e-money and digital investment solutions within its professional banking services suite, the partnership is set to power its “ambitious growth trajectory”, according to Paolo Broccardo, its chief operating officer.
Broccardo explains that the selection of Arroweye’s solution was due to its “just-in-time production capabilities”, which he says will remove “the expense and hassle of inventory management” while also enabling the company to scale the programme “in response to customer growth”.
The deployment of Arroweye’s solution marks the latest fintech development in the Caribbean following a string of similar partnerships in the region in recent months. Some of the most notable include Capital Union Bank’s core banking upgrade with Avaloq’s Web Banking solution, and RF Group’s adoption of ERI’s Olympic Banking System in February, among others.
