25% of Card Replacement Calls Point to an AI Opportunity

This news highlights a shift in how credit cards and financing accounts are managed. About one-quarter of all customer service calls for card issuers are related to simple card replacements. For retailers and operators, this is a pain point. When a customer loses a card or deals with a technical issue, their ability to spend at your store stops immediately. The report suggests that lenders are moving toward AI-driven automation to handle these requests instantly. For your business, this means the 'friction' of a lost card is decreasing. Modern issuing platforms are now using AI to verify identities and ship new cards—or issue digital replacements—without the long hold times that lead to abandoned purchases. If your financing partner is lagging on tech, your customers are more likely to stop using that line of credit when a hurdle arises. Better AI at the lender level ensures that your customers stay 'open for business' even when their physical plastic is compromised. Expect to see your financing partners rolling out more self-service tools that keep the credit flowing with less manual intervention.

Source: PYMNTS

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