TSYS announced Monday (June 8) that it has enhanced its card production capabilities with an eye on the October 2015 transition to EMV and chip cards in an effort to help businesses navigate the liability shifts that will occur with that transition.
The company, which through its services arm offers consulting and other aids to firms issuing chip cards, said in a release that its Chip Card on Demand manufacturing service launch seeks to help merchants by allowing chips to be added to EMV-capable magnetic strip cards. Alternatively, chips can also be added to customized cards issued from TSYS Card Shop during production, the company said.
The new TSYS offerings allow issuers to have more control over their chip card migration strategy, as they can issue the magnetic strip cards if and when they are needed. They can also design, build and launch new cards for certain parts of their portfolios, with an eye toward more efficient inventory management.
“We have worked with our U.S. clients since last year as they prepare to issue chip cards in 2015, and it was clear to us early on that we could create an improved process,” Bob Kellum, group executive of Output Services at TSYS, said in the company statement. “This solution lets our issuers focus more on strategy and execution and less on managing new operational challenges. We have also included Chip Card on Demand in TSYS Card Shop to create custom chip cards.”
TSYS said its Chip Card on Demand service is up and running and will be implemented by several U.S. commercial and consumer card issuers beginning in summer 2015.
The deadline for EMV is fast approaching, yet many industry participants find that fewer than half of POS terminals will be able to meet the fall deadline or even be EMV-capable by the end of this year.