TSYS Enhances Card Production in the Migration to Chip Cards
New Functionality Provides Chip Cards On Demand
Columbus, Ga.- TSYS (NYSE:TSS) announced today the enhancement of its card production capabilities to provide issuers more flexibility, simplicity and speed to market in the transition through the October 2015 chip liability shift. TSYS Chip Card on DemandSM is a new card manufacturing service that allows chips to be added to EMV®-capable magnetic stripe cards or customized cards from TSYS Card ShopSM — as needed by issuers — during the production process.
“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”
This enhancement provides more control of the chip card migration so that issuers can continue to issue magnetic stripe cards as needed, build new card designs and launch new cards for all or a portion of their portfolio. This increases efficiency and reduces the need for management of chip inventories, applet changes and chip specifications.
“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,” said Bob Kellum, group executive of Output Services, TSYS. “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.”
“Chip technology provides enhanced security, resulting in reduced fraud from counterfeit, lost and stolen cards,” said Todd Sherman, head of Global Commercial Bankcard Client Services at U.S. Bank. “This solution from TSYS gives us added flexibility as we continue to bring this technology to our commercial card customers.”
TSYS Card ServicesSM offers a full range of options and the consultative advice to help clients issue chip cards that fit specific business needs. Chip Card on Demand is available now, and will be implemented by numerous North American consumer and commercial card issuers this summer. TSYS helps its U.S. clients optimize their portfolios, leveraging its experience in other markets with chip migration to create a smooth transition to this new payment technology. For more information on TSYS Chip Card on Demand, or other chip-related best practices and resources, visit www.tsys.com/CountdownToChip.
At TSYS® (NYSE:TSS), we believe payments should revolve around people, not the other way around. We call this belief People-Centered Payments®. By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend®, A TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and was named one of the 2015 World’s Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more, visit us at www.tsys.com.
About U.S. Bank
U.S. Bancorp (NYSE:USB), with $410 billion in assets as of March 31, 2015, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The company operates 3,172 banking offices in 25 states and 5,016 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.