Navy Federal selects Proxama for EMV migration
Proxama PLC (AIM: PROX), the international mobile commerce Company specialising in proximity marketing and provider of end-to-end payment solutions for card issuers, proudly announces that Navy Federal Credit Union, the world’s largest credit union, has selected Proxama’s Payment Application Manager as part of their solution to migrate their portfolio of approximately four million debit cards to the EMV chip card standard.
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Proxama’s Payment Application Manager is a fully-featured smart card lifecycle management system that will not only support central and instant issuance of Navy Federal’s Visa debit cards with chips containing the EMV application, but will manage the lifecycle of those cards and applications unlike entry-level data preparation systems that discard the EMV data once a card has been produced. Payment Application Manager forms the core of Proxama’s Digital Enablement Platform, which delivers a road-mapped solution from mag-stripe through EMV cards to mobile payment based on HCE and other models.
“Proxama is immensely pleased to announce its selection by Navy Federal as a strategic supplier” said Mike Woods, CEO of Proxama’s digital payments division. “With EMV migration now firmly underway in the U.S., Proxama’s unrivalled legacy of supporting EMV card issuers and processors around the world has stood us in good stead in enabling us to provide Navy Federal with a robust and future-proofed EMV solution. We look forward to a long and successful relationship with Navy Federal.”
“EMV is the next right thing to do for our members” said Molly Steele, Assistant Vice President Debit Cards. “We serve the military and their families and we’re happy to provide the added layer of security for their peace of mind.”