Everlink Payment Services has teamed up with Collabria Financial Services to launch the next generation of Instant Card Issuance (ICI) solutions.

Scheduled to launch this fall, the new solution will help financial institutions instantly issue personalised MasterCard and Visa card credit cards to their customers.

Further, financial institutions that have partnered with Everlink and Collabria will benefit from real-time account processing with zero lag time.

Once a credit card application is approved, the credit union and bank staff can immediately produce personalized credit cards for their members and clients.

Everlink said that its existing ICI clients will also be able to support Everlink’s next generation of ICI solutions, such as the new MasterCard and Visa Card services.

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Everlink president and CEO Mark Ripplinger said: "Everlink is proud to offer the next generation of Instant Card Issuance, continuing our tradition of providing innovative and cost-effective solutions for our clients.

"Everlink’s next-gen ICI will immediately position our clients with the very latest in ICI technology, and with a very effective upgrade path as current Everlink ICI clients can easily take advantage of this new offering with minimal effort.

"We are very pleased to introduce our next-gen ICI as our first formal engagement with Collabria, and excited by the potential for other new offerings made possible by this partnership."