ST. PETERSBURG, Fla. — PSCU says it is the nation's first CUSO certified to issue EMV-enabled debit cards on First Data's Debit Solutions platform in advance of the October EMV liability shift deadline.
"By working closely with First Data, PSCU has established a process to ensure all of our member-owner credit unions are deployed on debit EMV quickly and consistently," PSCU President and CEO Chuck Fagan said in a statement. "Backed by proven implementations processes and support, we expect to see the first wave of member credit unions go live in the beginning of June, with others to follow soon after."
Many financial institutions have already rolled out credit EMV, but debit has been a longer process, and PSCU said that it is leveraging its scale to be first to market with debit EMV for credit unions.
PSCU began issuing EMV credit plastic in 2011 and recently announced that it has issued more than one million chip-enabled cards to credit union members.
"With our focus on providing safe, secure transactions to all consumers, First Data is pleased to partner with PSCU and its member-owners to bring EMV to the U.S. marketplace," said Andrew Gelb, First Data's EVP, financial services. "The next several months will be critically important as financial institutions of all sizes transition to chip card technology, and we are ready to provide the support needed to navigate the EMV certification process."