U.S. Smart Card Migration: Stripe to EMV Claudia Swendseid, Federal Reserve Bank of Minneapolis Terry Dooley, SHAZAM Kristine Oberg, Elavon
|
|
- Francine Hood
- 8 years ago
- Views:
Transcription
1 U.S. Smart Card Migration: Stripe to EMV Claudia Swendseid, Federal Reserve Bank of Minneapolis Terry Dooley, SHAZAM Kristine Oberg, Elavon UMACHA Navigating Payments 2014 October 8, 2014
2 Who We Are Claudia Swendseid Senior Vice President Federal Reserve Bank of Minneapolis Serves on the Minneapolis Bank s senior management committee Provides executive oversight to operations, customer service, technology & payments functions, as well as to the Financial Services Policy Committee Support Office Conducts industry relations on behalf of the Federal Reserve System, serving as a liaison to selected national banking & business associations Vice Chair, Accredited Standards Committee X9, Financial Industry Standards Federal Reserve Banks Provide financial services to depository institutions & U.S. government Supervise & regulate financial institutions Establish & execute U.S. monetary policy Maintain a stable financial system & contain systemic risk 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 2
3 Who We Are Terry Dooley Executive Vice President & Chief Information Officer SHAZAM Leads SHAZAM s product development, application development & IT infrastructure, corporate & IT security, vendor & customer relationship management, security consultative services, & business continuity groups Chair of the Payments Processing Information Sharing Council (PPISC) Chair of the Secure Remote Payment Council (SRPc) Vice chair of the Debit Network Alliance (DNA) The SHAZAM Network is a single-source provider of core, risk management, card, ATM, marketing, merchant, mobile & ACH 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 3
4 Who We Are Kristine Oberg Vice President & Global Industry Strategist Elavon, Inc. Responsible for vertical segmentation strategy Specific domain expertise includes public sector, healthcare, e-commerce, recurring billing, & B2B payments While a product development leader in Treasury Management at U.S. Bank, she introduced the bank s first commercial bill payment, check conversion, & remote deposit products Background includes strategic planning, product development & innovation, product management, & experience in card acquiring, issuing, ACH, & cash management A wholly-owned subsidiary of U.S. Bancorp 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 4
5 Agenda Status of U.S. EMV Migration Key Roadmap Dates: ATM is next Trends in Card Issuance & Acceptance Debit Card Regulatory Issues Stakeholders Points of View Potential Impact on Card Not Present Fraud Disclaimer: Opinions expressed are those of the individual presenters, not their respective organizations 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 5
6 Status of U.S. EMV Migration 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 6
7 U.S. EMV Migration Roadmaps Key Dates Visa MasterCard Discover American Express October 2012 PCI audit relief April 2013 Acquirers & processors required to support merchant acceptance of EMV transactions October 2013 Account Data Compromise (ADC) relief (50%) PCI audit relief April 2015 October 2015 October rd party ATM acquirer processors & subprocessors required to support EMV data Card-present counterfeit liability takes effect excluding automated fuel dispensers (AFD) ADC relief (95% - 100%) ATM liability shift Lost or stolen liability shift 2013 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. October 2017 ATM liability shift Card-present counterfeit liability takes effect for automated fuel dispensers Lost or stolen liability shift for AFD 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 7
8 When & How Will ATMs Be Impacted? Processors must gear up to accept EMV transactions Visa s roadmap calls for U.S. third party ATM acquirer processors to be certified to handle EMV transactions by October 2015 o ATM manufacturers only recently made available the option of purchasing EMV card readers & software Looming ATM liability shift affects acquirers & issuers Currently, card issuers bear the liability for fraudulent ATM transactions. In October 2016 MasterCard s ATM liability shift occurs; in October 2017 Visa s ATM fraud liability shift takes place. o Shift applies to all ATMs that use magnetic stripe card readers rather than new EMV card readers. Accountability for counterfeit fraud transactions will shift to the party acquirer or issuer - that has not adopted EMV chip technology. The principle is that the party that is the cause of a contact chip transaction not occurring will be financially liable for any resulting card present counterfeit fraud losses. The ATM industry has a great deal to do to implement EMV technology 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 8
9 U.S. Issued Chip Cards By the end of 2015, more than 575 million U.S. cards will include EMV chips (almost 1 in 2) Many are signature-based rather than PIN Industry is exploring enhanced security options like tokenization & point-to-point encryption Perspective: about 1.3 billion magnetic stripe cards are in circulation in the U.S. Source: EMV Cards to Top 575 Million in U.S. in 2015, August 14, Based on data from nine key card issuers Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 9
10 Card Brand Roadmaps Motivate Merchants with Carrots & Sticks Carrots PCI audit relief Ability to accept chip cards from customers Sticks Starting in October 2015, fraud liability for card-present disputed transactions will shift to the party that is not EMV-enabled o Some merchants face later dates for liability shift 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 10
11 Merchant Acceptance Is Slow Only about 10% or less of U.S. point-of-sale (POS) systems are capable of accepting chip card transactions And only 1% of all U.S. POS terminals are enabled or live Testing & certification required first; & the queue is long EMV Readiness at POS Not capable, 90% Live/ Enabled, 1% Capable, 10% Source: USA Today, Data Breaches Heighten Talk of Chip-PIN Cards, February 3, Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 11
12 Is There a Positive Cost/Benefit Proposition for EMV Acceptance by Merchants? Acceptance: Pros Acceptance: Cons Reduces counterfeit fraud in cardpresent transactions Avoids assuming liability shift Reduces PCI reporting cost May help protect against fraud loss shifts to U.S. from countries adopting EMV Supports standard card payment methods across countries Ability to accept EMV cards from international travelers New investments in equipment, software, & infrastructure Protection still needed for card lost or stolen fraud & card-not-present fraud CNP fraud may increase Check out may take longer; cards may be forgotten more often Complexity of supporting different card brand roadmaps May not integrate readily with mobile payment acceptance 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 12
13 The Saga of Debit Card Regulatory Issues Durbin amendment required that all debit cards be able to support at least two debit networks in order to enable merchant routing choice. The EMV specification was not designed to support this. Considerable discussion & debate ensued as the industry tried to find a workable solution. Just as a framework for a solution was beginning to emerge in July 2013, Judge Richard Leon of the U.S. District Court rejected Regulation II, the Federal Reserve's implementation of the Durbin amendment. Leon stated that the dual routing provision is applicable to signaturedebit as well as PIN-debit transactions. This ruling introduced substantial uncertainty that slowed the industry's EMV migration until the high-profile Target data breach in late While EMV would not have stopped the breach, it certainly would have impeded the criminals' ability to monetize it, & the lack of EMV technology in the United States took center stage in subsequent media coverage & congressional hearings. This scrutiny, combined with a January 2014 ruling by the U.S. Federal Court of Appeals striking down Judge Leon's opinion, has re-energized the U.S. EMV migration Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 13
14 Stakeholders Points of View 2013 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 14
15 EMV Migration Forum Cross-industry body working together to facilitate the U.S. migration More than 140 member companies, including global payments brands, issuing financial institutions, merchants, processors, acquirers, regional debit networks, industry associations & suppliers Members pay fees to Smart Card Alliance Entire group meets about every 3 months Working Committees include: Debit, Testing & Certification, ATM, Card-not-Present, Communication & Education, & EMV Deployment Coordination Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 15
16 Main Benefits of Chip Cards Improved usability of U.S. cards in worldwide EMV markets Reduced POS counterfeit fraud (benefits issuer) Harder to skim data from EMV transactions Chips authenticate card readers & EMV cards to one another at POS, & can detect tampering Reduced fraud from foreign EMV cards used as mag stripe cards in U.S Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 16
17 Potential Impact on Card Not Present Fraud 2013 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 17
18 Impact on Fraud Chip cards mainly reduce counterfeit fraud at POS, but fraudsters are making strides Chip cards don t change cardholder authentication per se, PIN or signature are both choices Chip cards alone don t prevent data breaches, but can reduce the resulting damage Clear-text card numbers sent from chip to POS Source: Digital Transactions, EMV: Has Its Day Come? February, Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 18
19 Chip Card Impact on Cardnot-Present Fraud Chip cards don t protect card-not-present transactions in the e-commerce space; other solutions must be applied Other countries have seen fraudsters target CNP once chip cards take hold Fraud attacks shift to most vulnerable channels 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 19
20 Card-not-Present (CNP) Fraud after EMV (local currency) Sources: Financial Fraud Action UK, The Observatory for Payment Card Security, Canadian Bankers Association, Australian Payments Clearing Association France data is not available yet Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 20
21 Importance of Securing CNP Transactions EMVCo s current & upcoming next generation standards do not cover how to secure card-notpresent transactions Gap is being addressed by the EMV Migration Forum CNP Working Committee, which is identifying & assessing effectiveness of CNP fraud mitigation tools; white paper expected later in 2014 ASC X9F Data & Information Security Subcommittee has offered to collaborate 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 21
22 Questions? 22
23 Contact Information Claudia Swendseid Federal Reserve Bank of Minneapolis Kristine Oberg Elavon Terry Dooley SHAZAM Network 2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 23
24 Resources EMV Migration Forum public educational website EMV in the U.S.: Putting it into Perspective for Merchants and Financial Institutions, FirstData EMV for U.S. Acquirers: Seven Guiding Principles of EMV Readiness, MasterCard Advisors Post Durbin & Pre-EMV: Payment Acceptance Trends Evolving for Retailers, Association for Financial Professionals PostDurbinandPre-EMV.pdf The Efficiency & Integrity of Payment Card Systems, FRB Philadelphia Discussion Paper, U.S. EMV Roadmap Announcements Visa MasterCard Discover American Express Card Payments Roadmap in the U.S.: How Will EMV Impact the Future Payments Infrastructure? Smart Card Alliance Contactless Mobile Payment, EMVCo Managing the Migration to EMV & NFC Payment Technology, Frost & Sullivan The Migration to EMV Chip Technology: EMV Implementation in the U.S., Gemalto FRB Atlanta Blogs on EMV Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 24
Card Network Update Chip (EMV) Acceptance in the United States At-A-Glance
Card Network Update Chip (EMV) Acceptance in the United States At-A-Glance Allegiance Merchant Services is committed to assisting you in navigating through the various considerations that you may face
More informationEMV and Small Merchants:
September 2014 EMV and Small Merchants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service
More informationPayments Transformation - EMV comes to the US
Accenture Payment Services Payments Transformation - EMV comes to the US In 1993 Visa, MasterCard and Europay (EMV) came together and formed EMVCo 1 to tackle the global challenge of combatting fraudulent
More informationTHE FIVE Ws OF EMV BY DAVE EWALD GLOBAL EMV CONSULTANT AND MANAGER DATACARD GROUP
THE FIVE Ws OF EMV BY DAVE EWALD GLOBAL EMV CONSULTANT AND MANAGER DATACARD GROUP WHERE IS THE U.S. PAYMENT CARD INDUSTRY NOW? WHERE IS IT GOING? Today, payment and identification cards of all types (credit
More informationA RE T HE U.S. CHIP RULES ENOUGH?
August 2015 A RE T HE U.S. CHIP RULES ENOUGH? A longer term view of security and the payments landscape is needed. Abstract: The United States is finally modernizing its card payment systems and confronting
More informationEMV in Hotels Observations and Considerations
EMV in Hotels Observations and Considerations Just in: EMV in the Mail Customer Education: Credit Card companies have already started customer training for the new smart cards. 1 Questions to be Answered
More informationTHE ROAD TO U.S. EMV MIGRATION Information and Strategies to Help Your Institution Make the Change
THE ROAD TO U.S. EMV MIGRATION Information and Strategies to Help Your Institution Make the Change Advancements in technological capabilities, along with increasing levels of counterfeit fraud, led the
More informationPayments Fraud: It's Not Fun & Games
Payments Fraud: It's Not Fun & Games Claudia Swendseid Senior Vice President Payments Information & Outreach Office Federal Reserve Bank of Minneapolis NACHA Payments 2015 Claudia Swendseid Senior Vice
More informationEMV and Restaurants: What you need to know. Mike English. October 2014. Executive Director, Product Development Heartland Payment Systems
October 2014 EMV and Restaurants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service marks
More informationWhat is EMV? What is different?
U.S. consumers are receiving new debit and credit cards with embedded chip technology that better stores and protects cardholder information. These new chip cards are part of the new card standard, Europay,
More informationHow To Comply With The New Credit Card Chip And Pin Card Standards
My main responsibility as a Regional Account Manager for IMD is obtain the absolute lowest possible merchant fees for you as a business. Why? The more customers we can save money, the more volume of business
More informationEMV and Restaurants What you need to know! November 19, 2014
EMV and Restaurants What you need to know! Mike English Executive Director of Product Development Kristi Kuehn Sr. Director, Compliance November 9, 204 Agenda EMV overview Timelines Chip Card Liability
More informationA Brand New Checkout Experience
A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small
More informationA Brand New Checkout Experience
A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small
More informationWhat Merchants Need to Know About EMV
Effective November 1, 2014 1. What is EMV? EMV is the global standard for card present payment processing technology and it s coming to the U.S. EMV uses an embedded chip in the card that holds all the
More informationCPIM Academy. Cash 257 Merchant Services and Revenue Collection
CPIM Academy Cash 257 Merchant Services and Revenue Collection 2015 Objectives Feel prepared to discuss/understand basics of merchant processing Understand Service Fees Difference between credit and debit
More informationPreparing for EMV chip card acceptance
Preparing for EMV chip card acceptance Ben Brown Vice President, Regional Sales Manager, Wells Fargo Merchant Services Lily Page Vice President, Wholesale ereceivables, Wells Fargo Merchant Services June
More informationUnderstand the Business Impact of EMV Chip Cards
Understand the Business Impact of EMV Chip Cards 3 What About Mail/Telephone Order and ecommerce? 3 What Is EMV 3 How Chip Cards Work 3 Contactless Technology 4 Background: Behind the Curve 4 Liability
More informationDates VISA MasterCard Discover American Express. support EMV. International ATM liability shift 2
Network Updates Summer 2013 We are committed to working closely with you on achieving your business goals. As a part of this commitment, we carefully monitor Network changes and summarize them for your
More informationEmerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER
Emerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER SHAZAM, Senior Vice President Agenda The Ugly Fraud The Bad EMV? The Good Tokenization and Other Emerging Payment Options
More informationHeartland Secure. By: Michael English. A Heartland Payment Systems White Paper 2014. Executive Director, Product Development
A Heartland Payment Systems White Paper 2014 Heartland Secure. By: Michael English Executive Director, Product Development 2014 Heartland Payment Systems. All trademarks, service marks and trade names
More informationAll Things Payments & EMV. www.thestrawgroup.com / www.paymentspulse.com
All Things Payments & EMV www.thestrawgroup.com / www.paymentspulse.com Section 1: Payments Primer History and major payments milestones Merchants having the ability to accept card brands is the foundation
More informationPayment Card Industry Update and Cyber Risk Management
Payment Card Industry Update and Cyber Risk Management CRAIG A. HOFFMAN, ESQ. BAKERHOSTETLER ADAM COTTINI, MANAGING DIRECTOR, CYBER LIABILITY PRACTICE, ARTHUR J GALLAGHER & CO. OCTOBER 22, 2015 2014 ARTHUR
More informationHow to Prepare. Point of sale requirements are changing. Get ready now.
How to Prepare for EMV Point of sale requirements are changing. Get ready now. The EMV mandate is fast approaching. Now is the time to plan a strategy to prepare for this change. 2 EMV: The Backstory 3
More informationImplication of EMV Migration for the U.S. Transportation Industry. May 1, 2015. Implication of EMV Migration for the U.S. Transportation Industry
Implication of EMV Migration for the U.S. Transportation Industry 1 Introduction Transportation payment methods are constantly evolving. When cash handling became too expensive and inconvenient, the metal
More informationCredit Card Processing, Point of Sale, ecommerce
Credit Card Processing, Point of Sale, ecommerce Compliance, Self Auditing, and More John Benson Kurt Willey HACKS REGULATIONS Greater Risk for Merchants Topics Compliance Changes Scans Self Audits
More informationEMV FAQs. Contact us at: CS@VancoPayments.com. Visit us online: VancoPayments.com
EMV FAQs Contact us at: CS@VancoPayments.com Visit us online: VancoPayments.com What are the benefits of EMV cards to merchants and consumers? What is EMV? The acronym EMV stands for an organization formed
More informationOpenEdge Research & Development Group April 2015
2015: Security, Merchant Readiness & the Coming Liability Shift OpenEdge Research & Development Group April 2015 solutions@openedgepay.com openedgepay.com 2015: Security, Merchant Table of Contents The
More informationPayment Methods. The cost of doing business. Michelle Powell - BASYS Processing, Inc.
Payment Methods The cost of doing business Michelle Powell - BASYS Processing, Inc. You ve got to spend money, to make money Major Industry Topics Industry Process Flow PCI DSS Compliance Risks of Non-Compliance
More informationThe Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group
The Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group Abstract: Visa Inc. and MasterCard recently announced plans to accelerate chip migration in the
More informationEMV ADOPTION AND ITS IMPACT ON FRAUD MANAGEMENT WORLDWIDE
EMV ADOPTION AND ITS IMPACT ON FRAUD MANAGEMENT WORLDWIDE A Mercator Advisory Group Research Brief Sponsored by FICO January 2014 Table of Contents Introduction...3 The EMV Standard and What It Does...3
More informationPREVENTING PAYMENT CARD DATA BREACHES
NEW SCIENCE TRANSACTION SECURITY ARTICLE PREVENTING PAYMENT CARD DATA BREACHES DECEMBER 2014 UL.COM/NEWSCIENCE NEW SCIENCE TRANSACTION SECURITY OVERVIEW From research on the latest electronic transaction
More informationEMV's Role in reducing Payment Risks: a Multi-Layered Approach
EMV's Role in reducing Payment Risks: a Multi-Layered Approach April 24, 2013 Agenda EMV Rationale Why is this worth the effort? Guides how we implement it EMV Vulnerability at the POS EMV Impact on CNP
More informationNEWS BULLETIN 2015-16
NEWS BULLETIN Maine Automobile Dealers Association 180 Civic Center Drive P. O. Box 2667 Augusta, Maine 04338-2667 DIAL 623-3882 e-mail:info@maineautodealers.com FAX 623-2318 DISTRIBUTION General Manager
More informationFraud Protection, You and Your Bank
Fraud Protection, You and Your Bank Maximize your chances to minimize your losses Presentation for Missouri GFOA April 2011 By: Terry Endres, VP, Government Treasury Solutions Phone: 314-466-6774 Terry.m.endres@baml.com
More informationCash 257 Merchant Services and Revenue Collection
CPIM Academy Cash 257 Merchant Services and Revenue Collection 2015 Objectives Feel prepared to discuss/understand basics of merchant processing Understand Service Fees Difference between credit and debit
More informationRetail Business Technology Expo 2011
Retail Business Technology Expo 2011 Press Pack Stand # 212 March 16-17, 2011 For further information please contact: Clare Cockroft PR Manager Tel: +44 (0)114 292 6416 ccockroft@tnsi.com ANNOUNCES PLANS
More informationTarget Security Breach
Target Security Breach Lessons Learned for Retailers and Consumers 2014 Pointe Solutions, Inc. PO Box 41, Exton, PA 19341 USA +1 610 524 1230 Background In the aftermath of the Target breach that affected
More informationThe Canadian Migration to EMV. Prepared By:
The Canadian Migration to EMV Prepared By: December 1993 Everyone But The USA Is Migrating The international schemes decided Smart Cards are the way forward Europay, MasterCard & Visa International Produced
More informationWhy You Should Adopt EMV Chip Card Technology
Why You Should Adopt EMV Chip Card Technology A perspective on EMV following the liability shift. Get ready now. EMV chip card technology is here. It is crucial to plan a strategy before implementing EMV.
More informationVisa Recommended Practices for EMV Chip Implementation in the U.S.
CHIP ADVISORY #20, UPDATED JULY 11, 2012 Visa Recommended Practices for EMV Chip Implementation in the U.S. Summary As issuers, acquirers, merchants, processors and vendors plan and begin programs to adopt
More informationPCI and EMV Compliance Checkup
PCI and EMV Compliance Checkup ATM Security Jim Pettitt Director, ATM Security Diebold Incorporated Agenda ATM threats today Top of mind risk PCI Impact on Security U.S. EMV Migration Conclusions / recommendations
More informationPREPARING FOR THE MIGRATION TO EMV IN
PREPARING FOR THE MIGRATION TO EMV IN THE U.S. A Mercator Advisory Group Research Brief Sponsored by Merchant Warehouse 2010 Mercator Advisory Group, Inc. 8 Clock Tower Place, Suite 420 Maynard, MA 01754
More informationYour Reference Guide to EMV Integration: Understanding the Liability Shift
Your Reference Guide to EMV Integration: Understanding the Liability Shift UNDERSTANDING EMV EMVCo was formed in February 1999 by Europay, MasterCard and Visa to establish and maintain global interoperability
More informationPractically Thinking: What Small Merchants Should Know about EMV
Practically Thinking: What Small Merchants Should Know about EMV 1 Practically Thinking: What Small Merchants Should Know About EMV Overview Savvy business owners know that payments are about more than
More informationThe Path to Compliance: Selecting Another PIN Debit Network
The Path to Compliance: Selecting Another PIN Debit Network By: Kevin Barry General Manager, STAR Network 2011 First Data Corporation. All trademarks, service marks and trade names referenced in this material
More informationTokenization: FAQs & General Information. www.tsys.com BACKGROUND. GENERAL INFORMATION What is Tokenization?
FAQ Tokenization: FAQs & General Information BACKGROUND As technology evolves, consumers are increasingly making their purchases online or through mobile devices and digital wallet applications and their
More informationCard-Not-Present Fraud in a Post-EMV Environment: Combating the Fraud Spike
Card-Not-Present Fraud in a Post-EMV Environment: Combating the Fraud Spike Prepared for: 2014 RSA. All rights reserved. Reproduction of this white paper by any means is strictly prohibited. TABLE OF CONTENTS
More informationHealthcare Payment Security Is Your Patient s Card Data Exposed? May 24, 2016
Healthcare Payment Security Is Your Patient s Card Data Exposed? May 24, 2016 PRESENTER BIOS Michael Fidler Vice President Elavon Healthcare Payment Solutions Michael D. Fidler is Vice President, Healthcare
More informationEMV: Preparing for the shift
EMV: Preparing for the shift The impending shift in liability for card-present fraud is driving a transition to EMV, which comes replete with new retail IT requirements and consumer-facing changes to the
More informationEMV and Chip Cards Key Information On What This Is, How It Works and What It Means
EMV and Chip Cards Key Information On What This Is, How It Works and What It Means Document Purpose This document is intended to provide information about the concepts behind and the processes involved
More informationChanging Consumer Purchasing Patterns. John Mayleben, CPP SVP, Technology and Product Development Michigan Retailers Association
Changing Consumer Purchasing Patterns John Mayleben, CPP SVP, Technology and Product Development Michigan Retailers Association Michigan Retailers Association! Michigan Retailers Association is trade
More informationPCI 3.1 Changes. Jon Bonham, CISA Coalfire System, Inc.
PCI 3.1 Changes Jon Bonham, CISA Coalfire System, Inc. Agenda Introduction of Coalfire What does this have to do with the business office Changes to version 3.1 EMV P2PE Questions and Answers Contact Information
More informationPAGE ONE Economics CLASSROOM EDITION. The Smart-Chip Credit Card: A Current Solution
PAGE ONE Economics CLASSROOM EDITION An informative and accessible economic essay with a classroom application. Includes the full version of Page One Economics, plus questions for students and an answer
More informationPrevention Is Better Than Cure EMV and PCI
Prevention Is Better Than Cure EMV and PCI Prevention Is Better Than Cure An independent view on the effectiveness of EMV and PCI in case of large-scale card compromise. Over the past couple of months,
More informationA Guide to EMV. Version 1.0 May 2011. Copyright 2011 EMVCo, LLC. All rights reserved.
A Guide to EMV Version 1.0 May 2011 Objective Provide an overview of the EMV specifications and processes What is EMV? Why EMV? Position EMV in the context of the wider payments industry Define the role
More informationEMV FOR U.S. ACQUIRERS: SEVEN GUIDING PRINCIPLES FOR EMV READINESS
EMV FOR U.S. ACQUIRERS: SEVEN GUIDING PRINCIPLES FOR EMV READINESS BY PHILLIP MILLER, GUY BERG, JEFF STROUD, AND STEVEN PAESE Acquirer EMV 1 enablement is a critical first step to full chip migration in
More informationU.S. House Small Business Committee. On Behalf of the National Grocers Association. October 6, 2015
U.S. House Small Business Committee On Behalf of the National Grocers Association October 6, 2015 The National Grocers Association (NGA) appreciates the opportunity to submit comments for the record to
More informationChargebacks: Another Payment Card Acceptance Cost for Merchants
Chargebacks: Another Payment Card Acceptance Cost for Merchants Fumiko Hayashi, Zach Markiewicz, and Richard J. Sullivan January 216 RWP 16-1 http://dx.doi.org/1.18651/rwp216-1 Chargebacks: Another Payment
More informationSuzanne Lynch Professor of Practice Economic Crime Utica College sl6-15 1
Suzanne Lynch Professor of Practice Economic Crime Utica College sl6-15 1 The most significant trend is decreasing paper payments and increasing electronic payments. Many organizations are also seeing
More informationEMV and Encryption + Tokenization: A Layered Approach to Security
EMV and Encryption + Tokenization: A Layered Approach to Security 2012 First Data Corporation. All trademarks, service marks and trade names referenced in this material are the property of their respective
More informationtoast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard
toast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard Table of Contents For more than 40 years, merchants and consumers have used magnetic stripe credit cards and compatible
More informationCard Technology Choices for U.S. Issuers An EMV White Paper
Card Technology Choices for U.S. Issuers An EMV White Paper This white paper is written with the aim of educating Issuers in the United States on the various technology choices that they have to consider
More informationwelcome to liber8:payment
liber8:payment welcome to liber8:payment Our self-service kiosks free up staff time and improve the overall patron experience. liber8:payment further enhances these benefits by providing the convenience
More informationTable of Contents. Overview. What is payment processing? Who s Who. Types of Payment Solutions. Online Transactions. Interchange Process
Overview Credit Card Processing 101 is your go-to handbook for navigating the payments industry. This document provides a quick and thorough understanding on how businesses accept electronic payments,
More informationPCI Security Standards Council
PCI Security Standards Council Jeremy King, European Director 2013 Why PCI Matters Applying PCI How You Can Participate Agenda 2 Why PCI Matters Applying PCI How You Can Participate Agenda About the PCI
More informationPayment Card Industry (PCI) Data Security Standard. PCI DSS Applicability in an EMV Environment A Guidance Document Version 1
Payment Card Industry (PCI) Data Security Standard PCI DSS Applicability in an EMV Environment A Guidance Document Version 1 Release date: 5 October 2010 Table of Contents 1 Executive Summary... 3 1.1
More informationThe Migration to EMV Chip Technology
The Migration to EMV Chip Technology IIIIII EMV Implementation in the U.S. http://www.gemalto.com IIIIII Table of Contents 1. Introduction...3 2. Why EMV and Why Now?...4 3. What is EMV?.............................................................6
More informationWhat Issuers Need to Know Top 25 Questions on EMV Chip Cards and Personalization
Frequently Asked Questions What Issuers Need to Know Top 25 Questions on EMV Chip Cards and Personalization Issuers across the United States are beginning to embark in the planning and execution phase
More informationDATA SECURITY, FRAUD PREVENTION AND COMPLIANCE
DATA SECURITY, FRAUD PREVENTION AND COMPLIANCE December 2015 English_General This presentation was prepared exclusively for the benefit and internal use of the J.P. Morgan client or potential client to
More informationFall Conference November 19 21, 2013 Merchant Card Processing Overview
Fall Conference November 19 21, 2013 Merchant Card Processing Overview Agenda Industry Definition Process Flows Processing Costs Chargeback's Payment Card Industry (PCI) Guidelines for Convenience Fees
More informationFAQ EMV. EMV Overview
FAQ EMV EMV Overview What are the benefits of EMV cards? A: Several factors are driving the U.S. card market to migrate to chip-based cards using the EMV specifications. EMV offers advantages for consumers,
More informationWe believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating
Given recent payment data breaches, clients are increasingly demanding robust security and fraud solutions; and Financial institutions continue to outsource and leverage technology providers given their
More informationChip-and-PIN: Success and Challenges in Reducing Fraud
Chip-and-PIN: Success and Challenges in Reducing Fraud Douglas King Retail Payments Risk Forum Working Paper Federal Reserve Bank of Atlanta January 2012 Abstract: Traditional payment cards have evolved
More informationEMV for U.S. Merchants. Are there good reasons to migrate? WHITE PAPER
Are there good reasons to migrate? WHITE PAPER It s November 4th, 2015 and your monthly statement for merchant processing has just arrived. What you see has you dazed and confused. Instead of the usual
More informationEMV EMV TABLE OF CONTENTS
2 TABLE OF CONTENTS Intro... 2 Are You Ready?... 3 What Is?... 4 Why?... 5 What Does Mean To Your Business?... 6 Checklist... 8 3 U.S. Merchants 60% are expected to convert to -enabled devices by 2015.
More informationGuide to Payment Processing
Guide to Payment Processing What s Inside: Industry Players Components of Payment Processing Reading Your Merchant Statement Understanding Fees Processing Methods Trends Need-to-Know Vocabulary Guide to
More informationACQUIRER OR ACQUIRING BANK A financial institution (often a bank) where a merchant has an account to process transactions and card payments
A TO Z JARGON BUSTER A ACQUIRER OR ACQUIRING BANK A financial institution (often a bank) where a merchant has an account to process transactions and card payments ATM Automated Teller Machine. Unattended,
More informationEMV A Gated Parking Systems Perspective PIE 2014. March 18 th 2014
EMV A Gated Parking Systems Perspective PIE 2014 March 18 th 2014 EMV & Gated Parking Systems Past practice PCI EMV in Canada NFC Contact & contactless Terminals Certification Support What s next? Past
More informationMitigating Fraud Risk Through Card Data Verification
Risk Management Best Practices 11 September 2014 Mitigating Fraud Risk Through Card Data Verification AP, Canada, CEMEA, LAC, U.S. Issuers, Processors With a number of cardholder payment options (e.g.,
More informationThe Cost of Compliance
The Cost of Compliance The Payment Card Industry Data Security Standard (PCI DSS) aims to protect sensitive cardholder data throughout the life cycle of ecommerce transactions. The standard puts heavy
More informationIntroductions 1 min 4
1 2 1 Minute 3 Introductions 1 min 4 5 2 Minutes Briefly Introduce the topics for discussion. We will have time for Q and A following the webinar. 6 Randy - EMV History / Chip Cards /Terminals 5 Minutes
More informationHow To Protect Your Restaurant From A Data Security Breach
NAVIGATING THE PAYMENTS AND SECURITY LANDSCAPE Payment disruptions impacting restaurant owners today An NCR Hospitality white paper Almost every month we hear a news story about another data breach that
More informationOpenEdge Research & Development Group April 2015
2015: Development, Merchant Readiness & the Coming Liability Shift OpenEdge Research & Development Group April 2015 developers@openedgepay.com openedgepay.com 2015: Development, Merchant Table of Contents
More informationThoughts on PCI DSS 3.0. D. Timothy Hartzell CISSP, CISM, QSA, PA-QSA Associate Director
Thoughts on PCI DSS 3.0 D. Timothy Hartzell CISSP, CISM, QSA, PA-QSA Associate Director Agenda 1 2 3 Global Payment Card Statistics and Trends PCI DSS Overview PCI DSS Version 3.0: Important Timelines
More informationEMV GATHERS STEAM AS U.S. MOVES TOWARD LIABILITY SHIFT
W H I T E P A P E R EMV GATHERS STEAM AS U.S. MOVES TOWARD LIABILITY SHIFT Approaching deadlines will shift liability of card-present counterfeit fraud from issuers to acquirers and merchants. That combined
More informationEMV : Frequently Asked Questions for Merchants
EMV : Frequently Asked Questions for Merchants The information in this document is offered on an as is basis, without warranty of any kind, either expressed, implied or statutory, including but not limited
More informationEMV: Background and Implications for Credit Unions
900 Elkridge Landing Road Suite 400 Linthicum, Maryland 21090 410-855-8500 FAX 410-855-8599 www.firstannapolis.com EMV: Background and Implications for Credit Unions November 2012 TABLE OF CONTENTS EXECUTIVE
More informationData Security Basics for Small Merchants
Data Security Basics for Small Merchants 28 October 2015 Stan Hui Director, Merchant Risk Lester Chan Director, Merchant Risk Disclaimer The information or recommendations contained herein are provided
More informationTestimony of Scott Talbott, Sr. V.P. for Government Relations, Electronic Transactions Association (ETA)
Testimony of Scott Talbott, Sr. V.P. for Government Relations, Electronic Transactions Association (ETA) House Small Business Committee Hearing on the EMV Deadline and What It Means for Small Business
More informationFirst Data s Program on EMV
First Data s Program on EMV Independent Software Vendors November 2014 Copyright 2013 First Data Corporation 1 Agenda EMV Overview & Background Processing Certification EMV Complementary Products Rapid
More informationVisa U.S. Merchant EMV Chip Acceptance Readiness Guide. 10 Steps to Planning Chip Implementation for Contact and Contactless Transactions
Visa U.S. Merchant EMV Chip Acceptance Readiness Guide 10 Steps to Planning Chip Implementation for Contact and Contactless Transactions Visa U.S. Merchant EMV Chip Acceptance Readiness Guide 10 Steps
More information2015 Visa Payment Security Symposium Webinar
The Power of Partnership AUGUST 12-13 HYATT REGENCY BURLINGAME, CA 2015 Visa Payment Security Symposium Webinar Diana Greenhaw Sr. Director, Global Data Security and Third Party Risk Lester Chan Director,
More informationEuronet s EMV Chip Solutions Superior Protection with Enhanced Security against Fraud
Serving millions of people worldwide with electronic payment convenience. Euronet s EMV Chip Solutions Superior Protection with Enhanced Security against Fraud Copyright 2011 Euronet Worldwide, Inc. All
More informationEMV Frequently Asked Questions for Merchants May, 2014
EMV Frequently Asked Questions for Merchants May, 2014 Copyright 2014 Vantiv All rights reserved. Disclaimer The information in this document is offered on an as is basis, without warranty of any kind,
More informationCyber - Security and Investigations. Ingrid Beierly August 18, 2008
Cyber - Security and Investigations Ingrid Beierly August 18, 2008 Agenda Visa Cyber - Security and Investigations Today s Targets Recent Attack Patterns Hacking Statistics (removed) Top Merchant Vulnerabilities
More informationEnhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011
Enhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011 On 5 th March 2010, The Association of Banks in Singapore announced key measures to adopt a holistic
More informationApple Pay. Frequently Asked Questions UK Launch
Apple Pay Frequently Asked Questions UK Launch Version 1.0 2015 First Data Corporation. All Rights Reserved. All trademarks, service marks and trade names referenced in this material are the property of
More informationHow Secure are Contactless Payment Systems?
SESSION ID: HT-W01 How Secure are Contactless Payment Systems? Matthew Ngu Engineering Manager RSA, The Security Division of EMC Chris Scott Senior Software Engineer RSA, The Security Division of EMC 2
More informationApple Pay. Frequently Asked Questions UK
Apple Pay Frequently Asked Questions UK Version 1.0 (July 2015) First Data Merchant Solutions is a trading name of First Data Europe Limited, a private limited company incorporated in England (company
More information