CPI and Vericast Extend 24-Year Partnership to Meet Surging Demand for Instant Card Issuance

CPI Card Group and Vericast have renewed a multi-year service agreement, securing a strategic partnership that has spanned nearly a quarter of a century. For fintech professionals, this extension reinforces the continued dominance of physical card issuance infrastructure and the growing necessity of SaaS-based instant issuance to meet the high expectations of younger, digital-native banking consumers.

What was announced

The agreement extends a strategic relationship between CPI Card Group and Vericast that is now entering its 24th year. Under the terms of the multi-year renewal, CPI remains the preferred supplier for Vericast’s payment solutions. This includes the production of physical credit and debit cards as well as the provision of integrated payment technology, specifically the Card@Once instant issuance platform. Card@Once, which launched in 2011 as a SaaS-based solution, allows financial institutions to provide cards to customers on-site immediately upon account opening or card replacement.

The partnership leverages CPI’s end-to-end manufacturing and personalization capabilities, including a print-on-demand solution based in Las Vegas. Vericast, which serves a majority of banks and credit unions in the United States, was an early adopter of the Card@Once technology and has been a key factor in its distribution to institutions of varying sizes. The renewal is supported by 2025 survey data from Vericast indicating that 74% of consumers consider instant card delivery a priority. This sentiment is significantly stronger among younger demographics, with 86% of Millennials and 85% of Gen Z respondents identifying instant issuance as a key requirement for their financial institution.

"Consumer expectations continue to evolve, and financial institutions need solutions that can evolve with them. For nearly a quarter of a century, Vericast and CPI have combined our complementary strengths to help our clients deliver better cardholder experiences. Together, we provide the scale, expertise, and innovation needed to help drive-long term engagement for banks and credit unions."

Nicole Machado, Vice President of Product Management, Card Solutions at Vericast.

The companies involved

CPI Card Group (Nasdaq: PMTS) is a payments technology leader based in Denver. The company provides a comprehensive range of physical and digital payment solutions, including card manufacturing and SaaS-based issuance platforms. CPI has positioned itself as a primary provider for financial institutions seeking to bridge the gap between traditional physical assets and modern digital delivery through its integrated technology stack.

Vericast is a performance partner for financial institutions, operating as a major intermediary in the U.S. banking sector. The company works with a majority of banks and credit unions across the country, providing tools and services designed to enhance institutional performance and cardholder engagement. Vericast’s role in the market is characterized by its scale and its ability to distribute innovative payment technologies to a broad base of clients. The company was one of the first resellers to bring CPI’s Card@Once solution to market in 2011, helping to establish the current standard for on-site card production in the United States.

What FF News has reported before

In June 2026, FF News reported on how CPI Card Group Acquires TRISM to Dominate Instant Issuance Market, a move that solidified its technological lead in the SaaS issuance space. Additionally, the company's role in the evolving card ecosystem was highlighted during the coverage of how Infineon Launches SECORA™ Pay Green – the World’s First Contactless Payment Card Technology Allowing for Up to 100% Reduction in Plastic Waste, which addressed the growing industry focus on sustainable payment hardware and the involvement of major card technology providers.

What this means

The renewal of this 24-year partnership suggests that the physical payment card remains a cornerstone of the banking relationship, even as digital wallets proliferate. By locking in a preferred supplier status with Vericast, CPI maintains a formidable barrier to entry for competitors attempting to penetrate the U.S. credit union and community bank sectors. The industry is clearly moving toward a "phygital" model where the speed of physical delivery must match the immediacy of digital onboarding. This puts significant pressure on legacy card manufacturers who lack integrated SaaS issuance capabilities, as financial institutions increasingly view instant physical availability as a non-negotiable component of customer retention.