MONETT, Mo., Aug. 27, 2013 /PRNewswire/ -- 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.
About JHA Payment Processing Solutions (PPS)
JHA Payment Processing Solutions®, a division of Jack Henry & Associates, Inc. (NASDAQ: JKHY), provides payment solutions to the financial industry including ATM, debit, and credit card solutions. These innovative solutions include one of the largest switch processors in the United States, online real-time transaction authorization and processing, signature and PIN-based processing, in-house and outsourced fraud prevention and detection solutions, cardholder awards programs, card program management and profitability solutions, card manufacturing and personalization, instant issue and activation, marketing materials and programs, and renowned customer service. JHA Payment Processing Solutions are sold to financial institutions regardless of
core processing platform, cross sold to the core credit union clients supported by Symitar®, and select products are sold to the core bank clients supported by Jack Henry Banking®. Additional information is available at www.weknowpayments.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. Additional
information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
SOURCE Jack Henry & Associates, Inc.