Navy Federal Selects Proxama EMV Migration Solution
Proxama PLC, the international mobile commerce company specialising in proximity marketing and provider of end-to-end payment solutions for card issuers, announced that Navy Federal Credit Union, the world’s largest credit union, has selected Proxama’s Payment Application Manager as part of their solution to migrate their portfolio of approximately four million debit cards to the EMV chip card standard.
Proxama’s Payment Application Manager is a fully-featured smart card lifecycle management system that will not only support Navy Federal’s Visa debit cards with chips containing the EMV application, and will manage the lifecycle of those cards and applications. Payment Application Manager forms the core of Proxama’s Digital Enablement Platform, which delivers a road-mapped solution from mag-stripe through EMV cards to mobile payment based on HCE and other models.
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“Proxama is immensely pleased to announce its selection by Navy Federal as a strategic supplier” said Mike Woods, CEO of Proxama’s digital payments division. “With EMV migration now firmly underway in the U.S., Proxama’s unrivalled legacy of supporting EMV card issuers and processors around the world has stood us in good stead in enabling us to provide Navy Federal with a robust and future-proofed EMV solution. We look forward to a long and successful relationship with Navy Federal.”
Proxama PLC is an International mobile proximity commerce and payment solutions company. Proxama provides end to end digital solutions to banks and card issuers to securely transition their card portfolio onto mobile for Near Field Communication (NFC) contactless payments as well as solutions for EMV enablement, Electronic PIN Delivery, tokenisation and card issuance management.