Jack Henry & Associates Live for EMV Debit Card Processing
-- Company maintains cardholder security as priority with advancing technologies --
MONETT, Mo., Sept. 29, 2015 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today the company confirmed that its JHA Payment Solutions group is live with MasterCard and Visa for EMV debit card processing, and will soon support Discover.
JHA Payment Solutions is actively processing EMV debit transactions today, and has been processing EMV credit transactions for more than four years. The group is committed to large scale EMV debit implementations, with hundreds currently in progress, and to helping its financial institution clients be ahead of the industry pace for EMV card issuance.
Minnesota-based Winona National Bank is one of the banks that JHA Payment Solutions has supported with EMV debit activity. Kim Duitsman, its vice president of operations, said, "Jack Henry has helped our institution be at the forefront of preparing for the U.S. EMV changeover. By deploying EMV debit, we do expect our reported fraud incidences with these cards to drastically decline."
JHA Payment Solutions drives early adoption of new technologies, particularly when it impacts the security of a financial transaction and of the end cardholder. For this reason, Jack Henry & Associates has also aggressively helped take clients live with Apple Pay; of the 400 financial institutions now active with Apple Pay, more than 65 of them are Jack Henry & Associates clients, and there are an additional 200 in the queue. JHA Payment Solutions is also in development to support Samsung and Android Pay, the latest in device-based wallets.
Greg Adelson, general manager of JHA Payment Solutions, said, "While the Oct. 1, 2015, deadline was set as a firm recommendation for all payment processing parties to be EMV compliant, we recognize that it is a long-term initiative for the entire ecosystem to be ready. At Jack Henry & Associates, we have been working with the networks and card manufacturers to ensure what was in our control was completed on time, allowing our financial institutions to take advantage of the liability shift when they were ready to do so. We will continue to partner with our banks and credit unions on EMV or any other payment processing developments, providing the superior support and service they have come to expect from Jack Henry & Associates."
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve almost 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. 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.
JKHY
SOURCE Jack Henry & Associates, Inc.
Share this article