Arroweye Solutions Closes out 2012 with Historic Results
New partnerships, open loop capabilities drive more than 40 percent growth
CHICAGO--(BUSINESS WIRE)-- Arroweye Solutions, the industry's only fully digital on-demand payment card provider, today revealed record-breaking performance results for 2012, including 40 percent growth, due in part to a nearly 175 percent uptick in open loop card production.
"In the last five years, the needs of card issuers and program managers have changed extensively and traditional card production models, which are slow, bulky and require inventory investment, simply don't make sense in today's marketplace," said Render Dahiya, Arroweye Solutions CEO. "Last year, we experienced a surge in demand for our digital on-demand solution because it is more nimble and more efficient. This is a clear indication that card issuers and program managers are recognizing the value of our zero inventory model."
In 2012, Arroweye achieved several company milestones, including locking in 27 new client partnerships, a record for the company in any 12-month period. Those partnerships fulfill a vast variety of client needs, including representing all four major network brands plus closed loop cards for national retailers, as well as developing new and innovative secure packaging for cards on POS displays. The company experienced growth across all segments, with open loop products more than doubling in volume.
Arroweye's successful year is due in part to its recent American Express approval, which positions Arroweye as the first to produce on-demand cobranded cards from all four open loop networks. Arroweye also secured its eighth technology patent in 2012 that protects it's unique on-demand plastic production process.
"Arroweye brought the benefits of an on-demand solution to the marketplace and adoption of the model is growing exponentially," said Dahiya. "In light of emerging payments, regulatory uncertainty and growing competition, issuers and retailers are recognizing that our model is more valuable than ever. The retailers and financial institutions we support are able to bring their customers truly personalized, innovative solutions that are targeted to their needs, while demonstrating that they understand the uniqueness of their brand and can help support its growth. Our on-demand model is the only model in the marketplace that allows them to provide that value at a competitive cost."
Arroweye's technology combines front-end web-based tools for card design and customization with an on-demand production operation that consecutively prints, manufactures, personalizes and fulfills cards all within their Visa, MasterCard, Discover, and American Express approved, secure facility.
About Arroweye Solutions, Inc.
Arroweye is a card marketing and production partner that provides just-in-time, highly customized plastic gift, incentive and payment cards and carriers. With a unique combination of web-based design tools and on-demand manufacturing and personalization capabilities, Arroweye is the first fully-digital provider of plastic cards within the open-loop and closed-loop payments industries. The company provides gifting solutions, including customized greeting cards and a suite of stored value retail gift card solutions. Arroweye was founded in 2000 and is based in Chicago, IL. For more information, visit www.arroweye.com.
for Arroweye Solutions
Courtney Schiesher, 312-854-8395
KEYWORDS: United States North America Illinois
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