St. Petersburg, Florida – (October 15, 2013) –PSCU has taken its expertise in EMV card program implementations and deployment strategies directly to its Member-Owner credit unions through a series of educational seminars and workshops being conducted across the U.S. The cooperative’s goal is to deliver useful information that credit unions can leverage to build migration strategies that are cost and capabilities appropriate for each institution. The topics covered in the six-hour sessions include the differences between offline and online EMV, ATM EMV processing, the state of the industry on debit EMV, certification procedures and card reissue strategies.
“Through these roadshows, we’re helping our credit unions outpace the competition with solutions that mitigate fraud, enable greater spending convenience for international travelers and pave the way for future mobile payments innovations,” said Tom Gandre, PSCU’s Chief Operating Officer. “We have to be aggressive on this front because the benefits from reductions in fraud claims and losses, together with the appeal of EMV to specific member segments, have significant value to our credit unions. EMV is happening and getting ready is a matter of when, not if.”
To date in 2013, 56 credit unions have attended PSCU’s EMV learning events in Minnesota, Arizona and Virginia. Upcoming seminars will be held this year in Chicago, San Francisco and Nashville. “The EMV session by PSCU was extremely helpful,” said Anna Smith, a Product Engineer from Arizona State Credit Union. “The information was presented clearly and concisely, and all participants’ questions regarding critical areas of concern were covered.” Fellow attendee, Brian Johnson, Vice President of Product Management at Arizona State Credit Union, remarked “The importance of having a debit strategy and thorough ATM review really stood out to me. I left with a solid to-do list including setting up an EMV migration plan, budgeting for process changes and exploring the details of our owned or shared BIN.”
EMV cards offer enhanced card authentication, transaction authorization and cardholder verification. With technology and cost implications still factoring into the pace of adoption of EMV cards in the U.S., PSCU’s EMV roadshows are helping credit unions overcome a number of challenges in their efforts to meet migration timelines. PSCU currently offers EMV programs for credit and prepaid reloadable card programs.
Established in 1977, PSCU (St. Petersburg, Fla.) is the nation’s leading credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. The company is owned by nearly 700 member credit unions representing 16 million credit, debit, prepaid, online bill payment, mobile and electronic banking accounts. Comprehensive 24/7/365 member support is delivered through four contact centers located throughout the United States that handle more than 18 million inquiries a year.
Through a focus on collaboration and initiatives to mine the collective intelligence from all corners of the cooperative, PSCU’s Member-Owners are positioned at the leading edge of innovation. The combination of PSCU’s commitment to leadership in mobility and excellence in risk management, strategic consulting and technology creates PSCU’s foundation for the strongest partnerships with its Member-Owners. For more information, visit the PSCU website at www.pscu.com.