ORNL Federal Credit Union in Oak Ridge, Tenn., will be the first financial institution to conduct an EMV transaction on MasterCard's Maestro network with PSCU, the payment processing CUSO announced.
The 160,000-member, $1.5 billion institution began deploying the technology to read the cards, which rely on an embedded chip for authentication, in September. First Data, the Atlanta-based card processing giant, was certified last week by MasterCard to process Maestro EMV transactions.
"First Data has supported EMV processing for more than a decade," said Tom Gandre, chief operating officer for PSCU. "We're confident in First Data's EMV expertise and ability to deliver a successful execution for its ATM clients, and delighted to be among the first in the U.S. payments industry to launch this capability."
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