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Proxama to provide EMV migration, card management solution for NFCU

The company says its platform will support both instant issuance and lifecycle management for the EMV debit card portfolio of Navy Federal Credit Union.

May 21, 2015

Proxama PLC, a provider of end-to-end payment solutions for card issuers, has announced that its Payment Application Manager solution will support Navy Federal Credit Union, the world's largest credit union, in the migration of the CU's portfolio of approximately four million debit cards to the EMV chip card standard.

The Proxama solution is a full-featured smart card lifecycle management system that not only will support central and instant issuance of Navy Federal EMV debit cards, but also will manage the lifecycle of those cards and applications, a press release said.

"EMV is the next right thing to do for our members" said Molly Steele, assistant VP for debit cards at NFCU. "We serve the military and their families and we're happy to provide the added layer of security for their peace of mind."

Payment Application Manager forms the core of the Proxama Digital Enablement Platform, which delivers a road-mapped solution from mag-stripe to EMV cards to mobile payment models. The company said that lifetime management sets its solution apart from entry-level EMV solutions that discard EMV data once a card has been produced.