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CPI Card Group and FLEX Collaborate to Bring Instant Issuance to Credit Unions

June 12, 2018

LITTLETON, Colo.--(BUSINESS WIRE)--Jun 12, 2018--CPI Card GroupInc. (Nasdaq:PMTS, TSX:PMTS) (“CPI”), a global leader in financial and EMV® chip card production and related services, today announced an integration with Salt Lake City-based core processor, FLEX, to enable a streamlined approach to instant issuance. CPI’s Card@Once solution will be integrated with FLEX’s data processing platform, allowing credit unions to seamlessly print and provide EMV®-enabled cards to branch members onsite.

“Our aim has always been to empower our customers with options, helping them navigate and adopt new technologies using our robust set of offerings – so they manufacture their own success,” said Sean Holcomb, COO at FLEX. “The convenience and ease-of-use of Card@Once makes it a natural fit within the greater value we are creating for credit unions.”

Through the collaboration, credit unions served by FLEX will be able to leverage an end-to-end, cost-effective print solution enabling immediate response for customers when they require new or replacement cards. The Card@Once integration with FLEX also eliminates the need for dual entry, creating a more frictionless process for branch staff as they facilitate the issuance of cards to customers.

“We’re excited to be joining with FLEX to give credit unions served by FLEX a competitive edge – one that allows their customers to walk out of a branch with their new card in-hand,” said Lane Dubin, SVP and General Manager, Prepaid and Instant Issuance for CPI. “Furthermore, the ability to print and issue EMV chip cards in minutes is a remarkable value-add for credit union staff and customers alike. We look forward to equipping more credit unions with the advantages of Card@Once in the years to come.”

Glen Falls, NY-based Park Heritage Federal Credit Union and Texas-based Wellspring Federal Credit Union – two credit unions among the more than 240 served by FLEX in the U.S. – are already leveraging the integrated Card@Once solution for instant issuance. “It’s so much easier and faster than it used to be. We used to go to five different places to make a card but now it’s just one click and you’re done. We love it,” said Christine Fowler, member service manager, Parks Heritage Federal Credit Union. “Members love it, because at any other financial institution in town, you have to wait 10 days to get a card. In comparison, our members get a new card in five minutes.”

“Before, our card issuance process was double entry. We had to generate the card number in the core then go out to the processor side and set the card up manually to have a card shipped out. Anytime a member wanted to update their address, our staff had to update both systems. Now, we set the card up in FLEX and we are done,” said Jesse Busby, vice president of lending, Wellspring Federal Credit Union. “If we want to print the card, we do it with the click of one button. Our staff, specifically, is so much happier with this process.”

About CPI Card Group

CPI Card Group is a leading provider in payment card production and related services, offering a single source for credit, debit and prepaid debit cards including EMV chip, personalization, instant issuance, fulfillment and mobile payment services. With more than 20 years of experience in the payments market and as a trusted partner to financial institutions, CPI’s solid reputation of product consistency, quality and outstanding customer service supports our position as a leader in the market. Serving our customers from locations throughout the United States, Canada and the United Kingdom, we have the largest network of high security facilities in North America, each of which is certified by one or more of the payment brands: Visa, Mastercard®, American Express, Discover and Interac in Canada. Learn more at www.cpicardgroup.com.

About FLEX

FLEX was founded in 1978. Since then, the company has grown to more than 120 employees with a management team that represents some of the most experienced professionals in the industry, having a combined 110 years of experience and service. FLEX serves over 250 credit unions in locations across the country including Alaska, Hawaii, and the Eastern Caribbean. The company enjoys established relationships with all regulatory agencies, corporate credit unions and major industry partners. In recent years, credit union industry personnel ranked FLEX first among competing vendors for customer satisfaction.

EMV is a registered trademark or trademark of EMVCo LLC in the United States and other countries.

Card@Once is a registered trademark of CPI Card Group, Inc. The Card@Once product is protected by the US Patent No.:8429075 of CPI Card Group, Inc.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180612005352/en/

CONTACT: ICR Inc. for CPI Card Group

Laura Anderson, 203-682-8267

media@cpicardgroup.com

or

FLEX:

Preston Packer, 800-262-3539

Director – Sales & Marketing

preston@flexcutech.com

KEYWORD: UNITED STATES NORTH AMERICA CANADA COLORADO

INDUSTRY KEYWORD: TECHNOLOGY ONLINE RETAIL OTHER TECHNOLOGY RETAIL OTHER RETAIL

SOURCE: CPI Card Group

Copyright Business Wire 2018.

PUB: 06/12/2018 09:00 AM/DISC: 06/12/2018 09:01 AM

http://www.businesswire.com/news/home/20180612005352/en

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