CUETS

CUETS

October 05, 2005 13:00 ET

CUETS: Credit Union MasterCard Leading the Way to Chip

REGINA, SASKATCHEWAN--(CCNMatthews - Oct. 5, 2005) -

Credit Union MasterCard will be on the leading edge of chip technology in Canada

Today, CUETS, the primary supplier of payment cards and merchant services to Canadian credit unions, announced an aggressive plan to implement and support chip technology for its complete line of card products. By being an early entrant into the Canadian market with smart card technology, CUETS will offer its credit union partners the ability to provide their members superior fraud protection, sophisticated, flexible and convenient payment options, and enhanced loyalty rewards programs, potentially all on one card.

"CUETS' reputation for leading advancements in payment technology is well known in the financial community," says CEO Stan Kuss, noting that CUETS processed the first Maestro acquiring transaction in Canada, and the first secure Internet transaction in the country using the secure electronic transactions protocol. "Embracing chip cards is a natural evolution for CUETS. With nearly 25 years of experience in providing proven card and merchant management systems, and industry recognized customer service programs, CUETS is positioned to deliver high quality, cost-effective, chip card support and products to its 450 credit union and caisse populaire partners."

Since the first days of exploring the use of smart cards in Canada, CUETS has been actively involved in the campaign to adopt chip card technology in the country. It participated on the national task force that created Canada's first chip standards (Chip Card Migration Program), and has been involved in a number of chip trials. CUETS is also a member of several national committees engaged in developing smart card strategies for the credit union system.

CUETS, through its ownership participation in Unified Network Payment Solutions (UNPS), is taking a lead in preparing the marketplace for the shift in payment technology by developing chip-ready merchant terminals and hardware for deployment.

"We look forward to working with credit unions and merchants in developing smart card solutions that fit their unique business needs," says Kuss. "CUETS is also committed to a seamless transition to chip technology for its Credit Union MasterCard cardholders."

About CUETS

CUETS is a national supplier and partner in the Canadian co-operative system, providing a complete range of advanced payment systems and services to credit unions, caisses populaires, cardholders, merchants and other organizations. CUETS offers MasterCard( products and services, backed by one of the most widely recognized brands in the world. The CHOICE REWARDS( loyalty program gives participants flexibility in merchandise and travel rewards selection. To learn more about CUETS, visit www.cuets.ca.

Contact Information

  • CUETS
    Karey MacLean
    Corporate Communications Officer
    (306) 566-1559
    Website: www.cuets.ca