August 27, 2013

Payment Processing Solutions (PPS), a division of Jack Henry & Associates (JHA), has announced an expedited EMV implementation process of U.S. chip card issuance.

According to Jack Henry, it can conduct EMV implementation for U.S. financial institutions that issue Visa-branded cards, and the process does not require direct project involvement by card brands for the install.

“Everyone’s eyes are on EMV right now and it is only a matter of when for the U.S. financial institutions that have yet to adapt the cards,’ said John Postle, general manager of PPS, in a statement.

PPS said it had to complete a U.S. chip issuance project with Visa to qualify. PPS allows banks and credit unions to consolidate at a point of contact for settlements, adjustments, and reconciliations.

EMV, the global technology standard for credit and debit card payments named after its original developers (Europay, MasterCard and Visa), features cards with embedded microprocessor chips that store and protect encrypted account user data, in contrast to the magnetic strip cards now used mostly in the U.S.

[Related Content: EMV Implementation: Who Is Ready?]

ABOUT THE AUTHOR
Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received ...