All-at-once EMV

Why some CUs choose to roll out chip cards all at once

Financial and operational limits pressed most credit unions into rolling out EMV (Europay, MasterCard, Visa) cards to their members over time.

And while card processors generally recommend that approach, some credit unions have decided to adopt EMV all at once.
Mass reissuance makes sense for some credit unions, says Tom Davis, CSCU’s senior vice president of finance and technology. Those that go that route do so, he says, largely for one of three reasons:

  1. They’re killing two birds with one stone

The reissuance is being done in coordination with another project such as a brand changes from Visa to MasterCard, or significant changes to their loyalty program.

  1. They view the counterfeit fraud risk as too great

The credit union has crunched the numbers and the cost of the reissuance is worth the cost of the potential fraud losses in their portfolio.

continue reading »