TSYS Enhances Card Production in the Migration to Chip Cards
June 08 2015 - 09:00AM
Business Wire
New Functionality Provides Chip Cards On
Demand
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.
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.
About TSYS
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150608005391/en/
TSYSMedia RelationsCyle Mims,
+1-706-644-3110cylemims@tsys.comorTSYSInvestor RelationsShawn
Roberts, +1-706-644-6081shawnroberts@tsys.com
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