CPI Card Group Inc. (PMTS) announced a broadened partnership with Fiserv that will enable banks and credit unions to print and activate personalized payment cards on‑site at branch locations. The collaboration builds on CPI’s Card@Once instant‑issuance technology, which allows a financial institution to produce a fully activated card in a matter of minutes, improving customer experience and activation rates.
The deal is part of CPI’s strategic pivot from a traditional card manufacturer to a payment‑technology platform. Integrated PayTech, the high‑margin segment that now accounts for roughly 55% of gross margin and 40% of EBITDA, is expected to grow at more than 15% annually. The partnership will accelerate that growth by giving CPI access to Fiserv’s network of over 10,000 financial institutions, a channel that can deliver higher margins and recurring revenue compared with legacy card manufacturing.
CPI’s Q4 2025 results showed revenue of $153.1 million, up 22% year‑over‑year, while net income fell 23% to $15 million due to acquisition and integration costs. The partnership is positioned to offset those headwinds by expanding the high‑margin Integrated PayTech segment and deepening relationships with community banks and credit unions that demand rapid card deployment solutions.
Fiserv had previously partnered with Entrust for next‑generation instant issuance, but the new alliance will replace or enhance those solutions with CPI’s Card@Once platform. The move is designed to help Fiserv compete against digital‑only issuers and to provide a seamless, unified issuance experience that banks and credit unions have been seeking. John Lowe, President and CEO of CPI, said, “We are excited to partner with Fiserv to provide our market‑leading integrated payment solutions to thousands of U.S. financial institutions. Together with Fiserv, we’re connecting physical and digital payments to help banks and credit unions drive greater customer engagement by delivering the seamless, unified issuance experience consumers demand.”
Investors responded with a mixed reaction, reflecting differing views on the partnership’s immediate impact. The alliance is expected to strengthen CPI’s competitive position, accelerate the adoption of instant card issuance, and provide a new revenue stream that aligns with the broader shift toward integrated payment solutions.
Overall, the expanded alliance positions CPI to capture a growing market for on‑demand card production, enhance customer experience for financial institutions, and reinforce its transition to a high‑margin payment‑technology platform.
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