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ICBA Bancard, FIS Accelerate Contactless Card Adoption

Jan 24, 2019

ICBA Bancard is partnering with FIS to accelerate adoption of contactless EMV chip cards among community banks over the next year. ICBA’s payments services subsidiary will help support community banks in their migration to contactless cards, which cost about a third more to produce than chip cards and are expected to reduce retail cash payment volume by $190 billion through 2022.

“With first-generation EMV-chip cards beginning to expire and nearly 70 percent of all merchant terminals in the United States equipped with near-field communication, the stage is set for rapid contactless adoption in the community banking industry,” ICBA Bancard President and CEO Tina Giorgio said.

Read ICBA Release