TMG Know-How Spurs Launch of First EMV Compliant Card for Client UNFCU
May 18, 2010
(Des Moines, Iowa – May 18, 2010) — The United Nations Federal Credit Union (UNFCU), cites TMG’s (The Members Group) project management skills and operational knowledge as a driving force in the introduction of the first U.S. issued, globally compliant microprocessor payment card.
According to Merrill Halpern, UNFCU card services manager, the Credit Union Service Organization (CUSO) was instrumental in bringing to the table the right mix of vendor participants and depth of experience to help UNFCU reach its end goal — the delivery of a more convenient and secure payment option that its members can use anytime, anywhere they live or travel.
Slated to be delivered by the end of 2010, UNFCU, with digital security provider, Gemalto, will be able to provide members with an Europay MasterCard Visa (EMV)-based card.
“We’re in business to serve members. For us (UNFCU), the EMV-card is all about service,” said Halpern. “While important for the global traveler, this payment option also brings a higher level of payment security to the domestic cardholder, which extends beyond magstripe technology.
“Because TMG understands how credit unions operate and the importance that we place on member service, above everything else, they were able to identify other partners that we would need to tap into and develop the necessary infrastructure to deliver a product that met our members’ specific needs,” he said.
One such vendor partner was First Data. Cited by UNFCU as its ‘gateway’ into the world of First Data processing, TMG enabled the credit union to optimize the use of First Data’s global capabilities in the EMV arena.
“Our ability to link UNFCU and First Data is a direct result of the strength of our systems and the great cooperation and team effort between all parties involved, said Aris Jerahian, TMG vice president, Client Relations. “We make it our business to understand the inner workings of each of our clients. We then match their needs or opportunities with our infrastructure and industry partners for the development of value added products and services like the EMV card.”
“UNFCU has a very unique footprint. Approximately 60 percent of our members reside in the U.S., while the remainder are outside of the U.S., generally in Western Europe — Austria, Italy and Switzerland, said Halpern. “Because of this, we have very exacting requirements. TMG invested a great deal of time becoming intimate with our needs which has resulted in an industry-leading product.”
Halpern likens the EMV-based payment card as a sort of an ‘insurance certificate’ for cardholders, providing the sense that their transaction is as secure as it can be. And, for that reason, UNFCU advocates a complete roll-out of this technology throughout the U.S.
“Indications are that certain very large chain merchants in the U.S. are making plans to implement chip and PIN readers. When these inklings come to fruition, they will help add momentum to the overall effort to get more issuers to provide these types of cards,” he said.
About TMG
TMG is a wholly-owned subsidiary of the Affiliates Management Company, which is owned by Iowa credit unions and their members. As a financial and credit union service organization (CUSO), TMG is dedicated to providing innovative and flexible card processing and payment solutions to credit unions and financial institutions across North America. TMG’s core products include credit, debit, ATM and a variety of prepaid solutions, as well as online reporting, item processing, ACH and ALM services. TMG’s prepaid card products are branded ATIRA. For more information, visit www.TheMembersGroup.com.
About United Nations Federal Credit Union (UNFCU)
UNFCU is a cooperative financial institution with more than US $3.1 billion in assets, which has served the financial needs of the United Nations community since 1947. UNFCU offers a wide array of flexible savings, loan, investment and insurance products, as well as advisory services. Membership is open to staff of the United Nations, its specialized agencies, retirees and their families. UNFCU members reside in 212 countries and territories. Headquartered and with branches in New York City, UNFCU has Representative Offices in Geneva, Switzerland; Vienna, Austria; Nairobi, Kenya, and Rome, Italy. For more information about UNFCU, please visit its website at www.unfcu.org.
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For More Information:
Desiree Fletcher-Hayes (for TMG)
515-229-9820
pr@themembersgroup.com
