Brookfield-based Fiserv Inc. has added milling and embedding to its debit and credit card production capabilities in response to growing demand for EMV chip cards.
The company, which provides technology solutions for financial institutions, in March announced it would be offering its own chip cards, dubbed The Card Collection from Fiserv. The move was aimed at making it easier for banks to transition to EMV chip-enabled cards.
With the ability to mill cards and embed the chips, Fiserv can produce the entire EMV chip card in house, allowing it to more efficiently transition clients to the more secure cards, which are aimed at preventing fraud. The company has started plastic manufacturing, embedding, testing and initialization to establish a quality chip card production process.
Card issuers have been rapidly migrating to chip technology. After an October deadline set by Visa, MasterCard, Discover and American Express, liability for fraudulent transactions at the point-of-sale will shift to the company that is least EMV-compliant in a transaction.
Fiserv also offers EMV card personalization, transaction processing, real-time payments and funds access, risk management, staff and consumer education support, and strategic guidance.
“As a leader in payments, fraud mitigation and card production, Fiserv is committed to supporting financial institutions as they migrate to EMV,” said Jorge Diaz, president, Output Solutions, Fiserv. “Adding milling and embedding capabilities to our already sophisticated facilities is a strategic move that enables Fiserv to deliver a one-stop-shop EMV solution. This is an important consideration for our clients as they prepare for the October 2015 liability shift deadline.”