U.S.-based payment processor Total System Services (TSYS) has launched a service called Chip Card on Demand that provides issuers the option to add EMV chips to compatible magstripe cards during the production process.
The service is intended to give issuers more flexibility as they transition to using chip-enabled credit and debit cards while still supporting magstripe cards.
TSYS said it aims to simplify the management process for chip inventory, applet changes and chip specifications. Issuers should be able to continue using existing magnetic stripe cards, launch new cards and build new card designs for some or all of their portfolio.
"We have worked with our U.S. clients since last year as they prepare to issue chip cards in 2015, and it was clear to us early on that we could create an improved process," said Bob Kellum, group executive of TSYS Output Services, in a June 8 press release. "This solution lets our issuers focus more on strategy and execution and less on managing new operational challenges."
The Columbus, Ga.-based company expects numerous North American consumer and commercial card issuers to implement this offering in the summer.