US-based financial services systems giant Fiserv has announced that it has begun providing personalisation services for EMV chip cards and will implement EMV payments processing solutions in 2012.
“As the US payments industry looks for ways to minimize card-related fraud loss and comply with new data security standards, EMV provides a next-generation alternative to magnetic stripe bank cards,” says Jorge Diaz, president of Fiserv Output Solutions.
“Increasingly, US travellers abroad find that their magnetic stripe bank cards are rejected,” Diaz adds. “This leads to embarrassing and compromising situations that can now be avoided with EMV chip cards. Along with greater convenience and merchant acceptance, cardholders may also benefit from reduced card fraud.”
The adoption of dual-interface chip technology also helps prepare the US payment infrastructure for the arrival of NFC mobile payments, Fiserv adds, by building the necessary infrastructure to accept and process chip transactions that support either a signature or PIN at the point of sale.
“Fiserv is committed to delivering the payments technology that our clients want now, while anticipating what they will need in the future,” says Diaz.