CORRECTION: Story On Xcard Systems

Published November 10, 2008, 7:19 p.m. EST

Updated August 27, 2020, 12:58 a.m. EDT

1 Min Read

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FRAZIER, Penn. – A story in the Nov. 6 Credit Union Journal Daily Briefing about the delay in the pilot program for the secure credit union payment card Xcard misstated several aspects of the card.

X-Card Systems, LLC is the name of the CUSO. which owns the Xcalibur Card device. The card uses old style magnetic stripe point of sale devices (POSD’s) but secures this old technology through a new magnetic stripe emulation system and does not have a magnetic stripe on the card.

Also, while the developers hope to gain approval for the card to be used by all card types, including Visa, MasterCard, Discover and American Express, the company is still in the process of obtaining the approval of the major card companies.

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