Jacksonville, Fla.-based JM Associates Federal Credit Union is the first financial institution to use Star CertiFlash, a new PIN debit application offered by First Data Corp.’s Star Network that advances point-of-sale security using one-time card number technology.
The STAR CertiFlash technology is programmed onto a contactless chip embedded within a payment device. For each transaction, the chip encrypts and transmits a card number that is good for only a single use.
The CertiFlash application is built on First Data’s mobile payment specifications, designed to meet the needs of financial institutions and merchants.
The credit union volunteered to be the first financial institution to test the product. In its pilot credit union employees successfully used the technology to purchase items from participating merchants.
What do you think about this? Send us your feedback. Click Here.