Brazilian EMV chip bank card manufacturer IntelCav, part of the Inteligensa Group, has agreed to merge its operations with American card manufacturer Teraco, to offer an array of chip cards in the US.
The merged entity will primary concentrate on the EMV migration that is moving forward at a rapid pace in the US and Canadian market.
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By integrating resources and talents of Teraco and IntelCav, the new joint venture (JV) will set up a new, facility in Chicago to boost the existing manufacturing, operations and sales organization.
The new facility is expected to produce 120 million chip cards every year. Additionally, it can also offer magnetic stripe and chip card personalization and fulfillment services; customized solutions for card processors and banks.
Inteligensa Group president and CEO Cipollitti commented, "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."
IntelCav CEO Alvaro de Oliveira said, "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."
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By GlobalDataBesides offering bank cards, IntelCav also delivers smart card and technology for the Mass Transit, Telecomm, Identification and Authentication markets.
