A new state of the art facility to be opened in Chicago
LAS VEGAS, May 14, 2014 /CNW/ - IntelCav, a Brazilian based company which is part of the Inteligensa Group and one of the largest EMV Chip Bank Card manufacturers in the world, announced that it is merging with Teraco, a high volume, high quality American card manufacturer, to provide a wide variety of chip cards to the U.S. market. The major focus of this venture is on the EMV Migration that is moving forward at a rapid pace in the U.S. and Canadian banks. In addition to Bank Cards, IntelCav is also a Smart Card and Technology provider for the Mass Transit, Telecomm, Identification and Authentication markets.
The new Joint Venture combines the resources and talents of Teraco and IntelCav to establish a new, large, state of the art facility in Chicago to leverage the existing manufacturing, operations and sales organization from Teraco. The expectation is to take the yearly production capacity of this new plant to 120 million chip cards. The new plant will also have significant capacity for magnetic stripe and chip card personalization and fulfillment services; customized solutions for Card Processors and Banks. Teraco's Midland, TX facility will continue to produce high volume non-secure cards.
IntelCav has more than 10 years of expertise in EMV Migration throughout Brazil, Mexico and the rest of Latin America. IntelCav has supported many financial institutions in the region with their EMV Migration processes which are already in an advanced phase for chip based credit, debit and prepaid cards. "We have produced more than 1.4 billion payment cards in our Brazilian plants of which 600 million were chip based," commented the founder of IntelCav, Mr. Venanzio Cipollitti. "Our experience is relevant and together with Teraco we are ready to provide efficient, modern, competitive and absolutely safe solutions, both in EMV card manufacturing and personalization services for the U.S. market", remarked Mr. Cipollitti, President and CEO of the Inteligensa Group companies.
"We also believe that the Dual Interface card is a global trend, which enables the use of a single chip card in contact and contactless mode. We will have the production capacity for it also," added Casey Campbell, President and CEO of Teraco. "We are very excited to join forces with IntelCav, as well as opening a new facility and the unique and challenging opportunity that the migration represents."
"This joint venture will allow IntelCav to continue its worldwide expansion into different chip card markets that are growing rapidly in many countries. It will mark the beginning of a new era for our company," commented Mr. Alvaro de Oliveira, CEO of IntelCav.
Both IntelCav and Teraco, now as a Joint Venture, will present some of their most innovative solutions during the 3rd edition of CARTES North America that will take place from May 13th to 15th, 2014, at the Mirage Hotel, in Las Vegas.
CONTACT: Angela Cavaliere, 58-212-954-1004, [email protected]
SOURCE: Inteligensa Group