MISSISSAUGA, ON, and LANGLEY, BC, Sept. 14 /CNW/ - Threshold Financial
Technologies Inc. (Threshold) and FICANEX Services Limited Partnership
(Ficanex), operator of THE EXCHANGE® network in Canada, jointly
announced today that EMV capability has been implemented on THE
EXCHANGE® network, allowing transaction processing of chip enabled debit
cards. THE EXCHANGE® network is a full-function ATM network supporting
nationwide surcharge-free access in Canada, with a membership of over
225 financial institutions across the country.
As part of the EMV implementation, Threshold has architected PIN change
functionality on THE EXCHANGE® network, allowing members' cardholders to
use any enabled ATM on the network to complete a PIN change on their
chip card, in addition to being able to visit their own institution to
perform this function. Most service providers who connect ATMs to THE
EXCHANGE® network are expected to enable their ATMs for PIN change over
the coming months, with full access expected by mid-2011. THE EXCHANGE®
network is the first network in Canada to provide PIN change service to
"We are delighted to have reached this milestone," stated Linda
Matheson, General Manager at Ficanex. "We are committed to providing our
members with value-based, feature-rich services, and supporting EMV is a
key part of that strategy. We are particularly proud of the fact that
we are Canada's first network to offer the value-added service of a PIN
change, which we believe will be extremely beneficial to our members and
their cardholders, allowing them convenience and flexibility." Matheson
went on to say, "We are very fortunate to have a capable and supportive
technology partner in Threshold; they have very strong partnership
qualities that make accomplishments such as this one easier to attain
than might otherwise be possible."
Threshold has been the Central Switching Provider to THE EXCHANGE®
network since 2009 and provides transaction processing services, as well
as a broad range of technology-based solutions to the Canadian financial
services marketplace, including some of Canada's largest financial
"We are very pleased to have been able to support Ficanex in delivering
this service to its members," commented Matthew McIver, President of
Threshold. "This particular accomplishment is part of our organization's
broader strategy to support its client base in achieving EMV support,
and is one of many facets of our environment that is EMV enabled. Many
of our clients will issue chip debit cards by year end, and with the
majority of them being members of THE EXCHANGE® network, having access
to these services will be invaluable to them."
About THE EXCHANGE® Network
THE EXCHANGE® ATM network enables participating financial institutions
to offer their cardholders convenient access to a very large,
proprietary ATM network at an affordable cost. THE EXCHANGE® network
offers the only inter-institutional, full-function ATM network in Canada
and consists of over 225 members offering surcharge-free access on over
2,400 ATMs nationwide. More information is available at www.the-exchange.ca.
About Threshold Financial Technologies Inc.
Threshold Financial Technologies Inc. is a wholly owned subsidiary of
Versent Corporation ULC, a privately owned Canadian company with more
than 900 employees throughout North America. Threshold has been actively
involved in the payments industry since 1997 providing leading edge,
feature-rich, and value-based EFT processing and ATM solutions to
Canadian retailers and financial institutions. The Company has existing
relationships with a broad range of banks and credit unions, as well as
major retailers. For more information, see www.threshold-fti.com.
SOURCE THRESHOLD FINANCIAL TECHNOLOGIES INC.
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