Oct 10, 2018   SOURCE: BusinessWire

CPI Card Group Renews Agreement with PSCU

CPI Card Group Inc. (Nasdaq: PMTS, TSX: PMTS) (“CPI”), a global leader in financial and EMV® chip card production and related services, today announced that it has renewed its agreement with PSCU, the nation’s premier payments credit union service organization (CUSO). As such, CPI will continue to serve as PSCU’s primary manufacturer for its payment card needs.

PSCU provides a comprehensive, highly integrated suite of payment solutions to nearly 900 credit unions across the country to optimize their member experience. CPI has served as PSCU’s trusted partner for its card manufacturing needs for 15 years, supporting the CUSO as it delivers best-in-class, end-to-end solutions to credit unions. As U.S. financial institutions grappled with the migration to EMV over the last decade, CPI’s expertise in chip card manufacturing helped PSCU become one of the first to issue credit, debit and prepaid EMV cards in the credit union market. Considering CPI’s depth and leadership as a manufacturer of dual interface cards, the companies’ relationship will similarly aid PSCU in preparing its Owner credit unions for the predicted growth of contactless card payments.

“Our long-standing relationship with PSCU is a testament to a shared commitment to service excellence, and a deep understanding of our clients’ needs,” said Jason Bohrer, SVP and General Manager, Secure Card Solutions for CPI. “We are pleased to continue serving as PSCU’s primary payment card manufacturer and look forward to making it possible for PSCU to equip credit unions with solutions to keep pace with an evolving payments landscape.”

“PSCU has a history of being fast to market with emerging technologies and is dedicated to evolving its model and making strategic investments to meet the changing needs of credit unions and their members,” said Jeremiah Lotz, VP of Product Management at PSCU. “CPI enables us to continue leading the charge in bringing innovation to the credit union market. With new trends like contactless payments on the horizon, this relationship will be pivotal in enhancing our Owners’ readiness.”

About CPI Card Group

CPI Card Group is a leading provider in payment card production and related services, offering a single source for credit, debit and prepaid debit cards including EMV chip and dual interface, personalization, instant issuance, fulfillment and digital payment services. With more than 20 years of experience in the payments market and as a trusted partner to financial institutions, CPI’s solid reputation of product consistency, quality and outstanding customer service supports our position as a leader in the market. Serving our customers from locations throughout the United States and Canada, we have the largest network of high security facilities in North America, each of which is certified by one or more of the payment brands: Visa, Mastercard®, American Express, Discover and Interac in Canada. Learn more at www.cpicardgroup.com.

About PSCU

PSCU is the nation’s premier payments CUSO. Committed to service excellence and focused on innovation, PSCU offers a comprehensive, highly integrated suite of traditional and digital payments solutions for credit unions to optimize their member experience. Leveraging digital technology, PSCU supports the success of nearly 900 Owner credit unions representing over 20 million accounts through secure, best-in-class solutions including payment processing, risk management, analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms. Comprehensive, 24/7/365 member support is delivered by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. For more information, visit pscu.com.

EMV is a registered trademark or trademark of EMVCo LLC in the United States and other countries.