North Carolina SECU Launches Secure Microchip Debit Cards
RALEIGH, N.C. – North Carolina State Employees’ CU is the latest credit union to add EMV microchip technology to its debit card portfolio, making it one of the first financial institutions in the country to add the microchips for increased transaction security over traditional magnetic stripe cards.
Chip cards securely store and process data efficiently. The cards are more difficult to copy, providing enhanced security against lost, stolen and counterfeit card fraud. As the next evolution of electronic payments, backers say EMV technology cards are helping to make the payment system even more secure.
The $22 billion credit union will begin its migration in March, with a completion target date for late 2011.
Oberthur Technologies will provide the non-profit cooperative with the technology needed for its EMV migration.