Jack Henry & Associates, Inc. (JKHY) confirmed that its JHA Payment Solutions group is live with MasterCard and Visa for EMV debit card processing, and will soon support Discover.
JHA Payment Solutions is actively processing EMV debit transactions today, and has been processing EMV credit transactions for more than four years. The group is committed to large scale EMV debit implementations, with hundreds currently in progress, and to helping its financial institution clients be ahead of the industry pace for EMV card issuance.
Minnesota-based Winona National Bank is one of the banks that JHA Payment Solutions has supported with EMV debit activity. Kim Duitsman, its vice president of operations, said, "Jack Henry has helped our institution be at the forefront of preparing for the U.S. EMV changeover. By deploying EMV debit, we do expect our reported fraud incidences with these cards to drastically decline."
JHA Payment Solutions drives early adoption of new technologies, particularly when it impacts the security of a financial transaction and of the end cardholder. For this reason, Jack Henry & Associates has also aggressively helped take clients live with Apple Pay; of the 400 financial institutions now active with Apple Pay, more than 65 of them are Jack Henry & Associates clients, and there are an additional 200 in the queue. JHA Payment Solutions is also in development to support Samsung and Android Pay, the latest in device-based wallets.
Greg Adelson, general manager of JHA Payment Solutions, said, "While the Oct. 1, 2015, deadline was set as a firm recommendation for all payment processing parties to be EMV compliant, we recognize that it is a long-term initiative for the entire ecosystem to be ready. At Jack Henry & Associates, we have been working with the networks and card manufacturers to ensure what was in our control was completed on time, allowing our financial institutions to take advantage of the liability shift when they were ready to do so. We will continue to partner with our banks and credit unions on EMV or any other payment processing developments, providing the superior support and service they have come to expect from Jack Henry & Associates."