Chip and PIN Sought Out by Traveling Members
The $24 billion State Employees’ Credit Union is not waiting around for the widespread of adoption of chip and pin cards.
In 2011, the cooperative in Raleigh, N.C., rolled out the cards to all members enrolled in a debit card program, said Sallie Cowell, a vice president in charge of card systems.
That, McNelley said, may have put an end to many wait-and-see strategies that had been followed by uncertain merchants and financial institutions. As a result, chip and PIN deployment may be in the 2013 plans for many institutions.
SECU is already well on its way. Still, Cowell stressed that to successfully deploy chip and PIN cards, there needs be significant education of employees and members. Because the cards are dipped and not swiped at card readers, they needs to sit in the reader a few extra seconds as the device digests the information on the chip.