The Payment Processing Solutions (PPS) division of Jack Henry & Associates has announced it will begin offering chip-and-signature debit and credit cards to its credit union customers, according to the Credit Union Times.
The Visa-branded cards are also equipped with the standard magnetic stripe for use in traditional card readers.
Star One Credit Union in Sunnyvale, Calif., with $5.6 billion in assets, is currently beta testing the card.
“Frequent overseas travelers represent an important membership segment for many credit unions,” said John Postle, general manager of JHA Payment Processing Solutions.
While the EMV (Europay, MasterCard and Visa) cards have been widely adopted in international markets, the PPS expects it to gain traction in the United States because of the enhanced security.
“There are only a few institutions in the nation currently issuing microchip cards, and we believe PPS is ahead of the curve and well-positioned to take advantage of the growing demand for this technology,” Postle said.
The PPS division sells ATM, debit and card solutions, including card manufacturing, processing and fraud prevention services to FIs.
