Payments processor TMG announced a new web-based tool to help credit unions better manage their plastic card stock. TMG, headquartered in Des Moines, Iowa, said this task has become more complicated for many financial institutions in recent years as global demand for EMV chip plastic has increased.
"As TMG has assisted our issuing partners through the EMV process, we have seen ordering and reordering times ebb and flow," TMG product manager Chole Casber said.
Casber continued, "However, on average, we are seeing approximately a 140% increase in production times for EMV cards."
According to a statement from TMG, Inventory Management is an enhancement to TMG's proprietary, web-based cardholder account management application, Springboard. The tool displays daily plastic and collateral stock information in an easy-to-understand interface.
"Our intent with this tool is to allow clients to take control of their inventory and gain visibility of up-to-date information to prevent any lapse in stock availability and/or outage," Casber said.
"Additionally, with EMV comes chip expiration. Knowing the expiration attached to a particular stock helps our clients plan even more specifically around seeking expiration extensions or placing necessary reorders," he added.
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