RANCHO CUCAMONGA, Calif. (4/23/13)--CO-OP Financial Services received its Europay-MasterCard-Visa certification with Visa, following a successful test with a credit union's global membership.
EMV-enabled Visa debit cards functioned successfully in at least six countries for members and staff of Bank-Fund Staff FCU, Washington D.C., with online transaction processing performed by CO-OP Financial Services.
"CO-OP is developing EMV technology in a phased approach and we expect to make our online EMV debit solution generally available to clients later this quarter," said Stan Hollen, CO-OP Financial Services president/CEO.
The credit union tested CO-OP's Phase I processing solution of online EMV transactions from a contact EMV card.
The credit union serves employees and family members of World Bank and the International Monetary Fund.
The credit union issued 11 EMV-enabled Visa debit cards to members and staff during the pilot, which extended from late December to early April. This is the first step in the credit union's overall EMV strategy.
Staff members used the cards in the United Kingdom, France, Spain, Romania, Peru and Uruguay."