PSCU, one of the nation's largest CUSOs, is now certified to issue EMV debit cards on First Data's Debit Solutions Platform and will begin deploying the cards via its 800+ member-owner credit unions across the country, according to a press release.
“We expect to see the first wave of member credit unions go live in the beginning of June, with others to follow soon after,” PSCU President/CEO Chuck Fagan said.
PSCU, which is headquartered in St. Petersburg, Fla., and whose member credit unions represent 18 million accounts, began deploying EMV credit cards in 2011 and has since issued over a million of them, according to the announcement.
The EMV-migration process has been rife with delays and controversy involving everything from negotiations between processing networks and Visa, to queues and long waits for cards and testing. There have even been calls for a delay in the October 2015 liability-shift deadline.
Earlier this month, however, the Payments Security Task Force predicted that about 63% of the credit and debit cards issued by its member institutions, which represent 50% of all U.S. payment card volume, will have EMV chips by the end of 2015.
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