State Employees’ Credit Union (SECU) has announced the addition of EMV technology to its debit card portfolio, making it one of the first U.S. financial institutions to add the microchips for increased transaction security over traditional magnetic stripe cards.
Oberthur Technologies will provide the cooperative with the technology to migrate its 1.7 million debit cardholder to EMV.
SECU will begin its migration in March, with a completion target date for late 2011. “SECU’s goal is to provide products and services which offer enhanced value and protection,” says Leanne Phelps, senior vice president of SECU’s Card Services department. “The EMV technology enables us to offer members increased fraud protection along with stress-free use of their card worldwide.”
Last June the United Nations Federal Credit Union announced its migration to EMV. See a video regarding that announcement here.