IntelCav, a Brazilian based company that is one of the largest EMV chip bank card manufacturers in the world, announced on May 14 that it is merging with Teraco, an American card manufacturer, to provide a wide variety of chip cards to the U.S. market.
The companies said that a major focus of this venture is on the EMV migration that is moving forward at a rapid pace at 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 facility, to be located in Chicago, will leverage the existing manufacturing, operations and sales organization from Teraco. The expected annual production capacity of this new plant is 120 million chip 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, Venanzio Cipollitti.
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, Texas facility will continue to produce high volume non-secure cards.
"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, 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."