CR2 BankWorld Cards

The CR2 BankWorld Cards is an end-to-end Card Management System designed to facilitate the issuance and management of debit and prepaid cards. According to the vendor, this solution is suitable for banking institutions, financial services providers, payment processors, card issuers, and retailers. CR2 BankWorld Cards offers a platform for controlling the entire card process, enabling self-service card controls, streamlining card issuing and production, generating revenue, improving customer experience, reducing costs, and enhancing security and anti-fraud measures.

Key Features

Powerful Card Management System: According to the vendor, this solution offers comprehensive card management capabilities for issuing and managing debit and prepaid cards. It provides a flexible platform for fraud monitoring, clearing and settlement, and lifecycle processing, conforming to all required standards and supporting a range of EMV card applications.

Self-Service Card Controls: Users can control their cards' limits and usage restrictions through a mobile app or web browser. They can freeze/unfreeze their cards, disable internet transactions, enable/disable channels, restrict travel countries and merchant types, and set spending limits. Additionally, customers can block their cards by reporting them as lost or stolen.

Card Issuing and Production: The system centralizes the issuing and production of cards, supporting both proprietary and globally branded cards such as Visa and Mastercard. It enables in-house card production for immediate customer satisfaction and offers dynamic multi-lingual and multi-currency capabilities, potentially reducing costs and improving operational efficiency.

Revenue Generation: The solution helps generate revenue through card fees and charges while maximizing card availability. It offers a range of cards, including debit, credit, and prepaid options, providing opportunities for revenue generation.

Improved Customer Experience: According to the vendor, CR2 BankWorld Cards supports international schemes, offers multi-currency choices, and provides fraud prevention measures. It also enables prepaid or online payment services, allows card personalization, and offers card alert services and a card on/off feature for added convenience and security.

Cost Reduction: By providing a single integrated platform for end-to-end card payment, management, and processing, the system potentially reduces costs and improves efficiency. It supports multi-channel operations, includes fraud detection capabilities, reduces risks and errors, and enables in-house card production.

BankWorld Prepaid Cards: This feature allows banks to have separate card-based accounts from their main bank accounts. It offers revenue generation through various fees charged to cardholders and can be easily reloaded through BankWorld self-service banking channels. It supports both magnetic stripe and Chip and PIN technologies.

Enhanced Security and Anti-Fraud Measures: The system includes a real-time monitoring system called FraudTrap, which identifies and prevents fraud. Users can define rules and check for fraudulent activity in transaction patterns. Additional security features include One Time Passwords, card on/off control, decoupled cards, and transaction notifications. The solution supports a range of international card schemes.

Switch and Payment Gateways: CR2 BankWorld Cards provides gateways to various Card Management systems, payment systems, and switches. It seamlessly integrates with systems such as Postillion, Jonet, S2M, TranzWare, and more, ensuring smooth and efficient operations.