SOUTH BEND, Ind. — Member Gateways, LLC is piloting the XCalibur card, a new initiative designed for use with existing point of sale devises and debit and ATM card transactions.
Also referred to as XCard, it was created by XCard Holdings, LLC and is being engineered and developed with the assistance of IBM Global Engineering Solutions. The pilot is in conjunction with XCard Systems, LLC a CUSO that will be co-owned by credit unions and has been created to implement the pilot program.
The card is an electronic device that has the same look, feel, size and flexibility of conventional plastic cards, according to Members Gateway. It is designed to use existing point of sale devices and secure credit, debit and ATM card transactions and data “through a unique front and back end application for a total fraud prevention solution.”
Mark Cox, creator of the XCard, developed the device as a way to significantly diminish the increasing dollars being lost to fraud and theft of plastic cards.
The upcoming pilot program and subsequent product release will initially be offered exclusively to participating credit unions around the country, according to Deborah Jones, senior vice president, strategic development with Member Gateways.