Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Processing Solutions (PPS) division today announced the launch of an expedited EMV implementation process for U.S. chip card issuance.
Some chip card implementations may require direct project involvement by card brands. To get in front of any significant scheduling bottlenecks, partners like PPS can now manage installs for Visa issuers. For qualifying processor clients, Visa provides a streamlined EMV implementation path for select chip card profiles. PPS is the first processor to make such a program available to its financial institution clients.
According to John Postle, general manager of PPS, "Everyone's eyes are on EMV right now and it is only a matter of when for U.S. financial institutions that have yet to adopt the cards. We are very excited to introduce a plan for EMV deployment that will mean greater efficiency and ease for our clients."
Through the expedited process, PPS can reduce financial institutions' implementation costs, testing requirements, and overall timeframes. PPS' process for certain chip card profiles can be as simple as for non-chip products; no host-to-host testing is necessary and card validation is optional.
To qualify for the streamlined process, a processor must have successfully completed a prior U.S. chip issuance project with Visa as well as meet other eligibility requirements. PPS enables banks and credit unions to consolidate card processing services with a single point of contact for settlements, adjustments, and reconciliations.