PSCU Educating Credit Union Execs on EMV Options, Pitfalls
Executives from 56 credit unions have sat through PSCU-hosted, six-hour long sessions on the arrival of smart chip cards in payments, the big payments CUSO said.
The topics covered around EMV cards include the differences between offline and online EMV, ATM EMV processing, the state of the industry on debit EMV, certification procedures and card reissue strategies, the CUSO said.
“Through these roadshows, we’re helping our credit unions outpace the competition with solutions that mitigate fraud, enable greater spending convenience for international travelers and pave the way for future mobile payments innovations,” said Tom Gandre, chief operating officer at PSCU in St. Petersburg, Fla.
“We have to be aggressive on this front because the benefits from reductions in fraud claims and losses, together with the appeal of EMV to specific member segments, have significant value to our credit unions. EMV is happening and getting ready is a matter of when, not if,” Gandre said.
So far, the CUSO has hosted sessions for executives in Minnesota, Arizona and Virginia. Additional seminars this year will be held in Chicago, San Francisco and Nashville, Tenn., PSCU said.