THE ROAD TO U.S. EMV MIGRATION Information and Strategies to Help Your Institution Make the Change

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "THE ROAD TO U.S. EMV MIGRATION Information and Strategies to Help Your Institution Make the Change"

Transcription

1 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 payments industry to develop both chip card technology and global EMV specification for payments. EMV is designed to leverage the advanced processing capabilities of chip card technology in securely storing and transmitting card payment credentials. The card payments industry in the United States is one of the last to enable EMV. But the card brands have announced plans and increasing risks associated with compromised merchants resulting in counterfeit card fraud have accelerated efforts to enhance the U.S. payment infrastructure to support EMV-based payments. This white paper aims to educate individuals about EMV, and focuses on its deployment in the U.S., as well as considerations for ATM terminal owners and important business considerations for issuers.

2 EMV SPECIFICATION EMV is the chip card payment specification standard that was developed by Europay, MasterCard and Visa (from which the specification gets its name). The standard is managed by EMVCo, which is owned by American Express, JCB, MasterCard and Visa. EMV s objective is to facilitate the global interoperability and security of chip cards and acceptance terminals, as well as provide certifications for issuer card programs and terminal devices. CHIP CARD TECHNOLOGY Embedded in the plastic of chip cards is an Integrated Circuit Card (ICC) microprocessor. The chip functions similarly to a computer: it has an operating system, communication protocols, applications and a secure element. While the secure element actually is the memory storage area of the chip, many publications use the term secure element to refer to the entirety of the microprocessor. EMV SECURITY EMV defines the communication protocols by which payment credentials can be provisioned to the chip and cryptographically stored and encrypted. A portion of the payment credentials stored in the chip is a group of unique cryptographic keys used to establish and encrypt the communication protocols when the credentials are transmitted from the chip card to the terminal chip card reader. The credentials that are transmitted, unlike mag-stripe payment credentials, use the card s unique cryptographic keys to generate dynamic cryptograms for each transaction. Dynamic cryptograms prevent the ability to clone the EMV credentials, which aids in protecting against skimming and counterfeit fraud. DRIVING U.S. EMV MIGRATION There is no mandate from any network or regulatory agency in the U.S. payments industry that requires issuers or merchants to upgrade their cards or terminals to EMV. However, several driving forces are pushing issuers and merchants to enable EMV. One of the major driving forces is the prevention of counterfeit fraud. Counterfeit fraud is increasing, with high-profile merchant security compromises of mag-stripe card data becoming more common. Mag-stripe counterfeit fraud is expected to continue to grow, as fraudsters migrate to those countries that have yet to enable EMV. This includes the U.S., one of the last EMV holdouts. And increasingly, U.S. consumers are likely to encounter problems with their U.S.-issued, mag-stripe-only cards being accepted at merchants in those countries that have migrated to EMV. Another major driving force is the shift in fraud liability. Visa, MasterCard and Pulse have announced plans to accelerate EMV migration in the U.S. (see page 3), and an integral part of the plan is the decision to shift fraud liability from the party either the merchant or issuer that enabled their device for EMV to the party that did not enable EMV. The general concept is that whoever enables the more secure technology passes the liability for fraud to the less secure party. In the event both parties have enabled EMV, the issuer is held liable. 2

3 The following chart outlines the dates of the liability shifts. LIABILITY SHIFT DATES VISA MASTERCARD PULSE October 2015 POS Counterfeit POS Counterfeit POS Counterfeit October 2016 ATM Liability* October 2017 ATM Liability October 2017 POS Fuel Dispensers POS Fuel Dispensers POS Fuel Dispensers NYCE, Shazam, Nets and Star have not announced liability shift dates. *ATM Liability Shift for Maestro Cross-Border has already taken effect. The chart below outlines various liability scenarios descending from most secure to least secure. TRANSACTION TYPE ISSUER MERCHANT/ATM PROCESSED AS LIABILITY Card Present EMV EMV EMV Issuer Card Present EMV Mag-stripe Mag-stripe Merchant/ATM Owner Card Present Mag-stripe EMV Mag-stripe Issuer Card Present Mag-stripe Mag-stripe Mag-stripe Issuer PAYMENT ECOSYSTEM AND EMV All stakeholders in the card payment ecosystem, including issuers, processors, networks, acquirers, merchants, terminal manufacturers and card fulfillment vendors, are affected by EMV. The changes necessary to implement EMV require most of the existing processes to be updated in order to support the issuance, transmission and acceptance of EMV. This is further complicated by the size and complexities of the U.S. payments industry. 3

4 REGULATION II (AKA THE DURBIN AMENDMENT) AND EMV One such complexity of the U.S. payments industry is the impact of Regulation II on EMV. Regulation II requires that debit cards maintain a minimum of two unaffiliated payment network options that are available to a merchant for use in processing. With EMV, the ability to route the transaction depends on the payment applications that can be loaded to the chip and selected for use during processing. While Visa and MasterCard have EMV applications, the regional or pinned networks which most issuers enable as a secondary unaffiliated network have neither an EMV application nor the infrastructure immediately available to support EMV. This complication prevents issuers from obtaining the ability to begin rolling out Durbin-compliant debit chip cards. Also, in order to support debit EMV, U.S. payment terminals must have the ability to deal with an EMV card that has multiple payment applications; however, most are designed to only support a single payment application per chip card. Recently, the traditional pinned networks have started cross-licensing Visa and MasterCard EMV applications. They also are creating new network specifications that debit issuers, processors and acquirers will use to begin certification to eventually enable a Durbin-compliant debit chip card. MAG-STRIPE STILL ON EMV CHIP CARDS During the migration from mag-stripe to EMV, issued cards will have both EMV and mag-stripes to allow transaction activity at all devices. During the transition, EMV will be the first authentication method that s used for terminals equipped with EMV technology. For terminals not equipped with EMV technology, mag-stripe will be the default authorization method, and the liability will be defined by network rules. It is important to note that the mag-stripe on EMV cards is still at risk of being compromised. If the card is used for transactions at non EMV devices, and if this merchant or device is compromised, those mag-stripe credentials can then be used to create counterfeit cards and commit fraud. In all likelihood, the issuer would want to issue a new card number and replace the EMV/mag-stripe card. 4

5 EMV ACQUIRING AT ATMS While much of the EMV discussion focuses on chip cards, the deployment of advanced terminals and readers that are capable of interfacing and receiving the credentials from these cards is equally important in the enablement of EMV. In order to ensure interoperability, these more advanced terminals must go through rigorous testing and certification. For financial institutions electing to enable EMV acceptance at their fleet of ATMs, there are specific hardware and software requirements, timeframes and costs to consider. FRAUD LIABILITY SHIFT AND BANK ATMS Again, with the deployment of EMV in the U.S., fraud liability passes from the party that has enabled the more secure technology (EMV transaction processing) to the less secure party (mag-stripe transaction processing). Today, with a mag-stripe ATM transaction, the card issuer is liable for fraudulent activity. However, impending fraud liability shifts will change that responsibility. While the general point-of-sale (POS) fraud liability shift is scheduled for October 2015, ATMs have a later date scheduled: the EMV fraud liability shift for MasterCard ATM transactions is Oct. 1, 2016, while the EMV fraud liability shift for Visa ATM transactions is Oct. 1, This graduated schedule for the ATM fraud liability shift gives financial institutions additional time to consider their strategies and implementation timeframes. EMV TERMINAL REQUIREMENTS ATMs require card readers that are capable of interfacing with the EMV chip. EMV card readers primarily interface with cards by maintaining physical contact with the chip on the front of the card while it is inserted, as opposed to reading the swiped mag-stripe on cards currently in use. EMV optionally supports a wireless or contactless form of interface leveraging near-field communication (NFC) to transmit and receive credentials. ATM software from the terminal vendor is required to have received Level 2 certification from EMVCo, which manages EMV standards. ATM hardware that interfaces with the chip card requires Level 1 certification. These certifications will take place with the hardware/software manufacturer and terminal drivers, who will work with the appropriate parties to ensure that these certification levels are met. Following these EMV fraud liability shift dates, the bank ATM owner will be liable for any fraudulent activity occurring on any EMV-enabled chip cards (both internationally and domestically issued) if the ATM is not EMV-enabled. While ATM-related fraud remains relatively low and is not currently the responsibility of the ATM owner, financial institutions should consider the possibility of these related fraud losses before upgrading or enabling EMV acceptance at their ATMs. 5

6 BUSINESS CONSIDERATIONS Industry research suggests that the cost to upgrade the U.S. ATM fleet to accept EMV-enabled cards could be upward of $500 million. Banks that need to upgrade their ATMs should look to do so now to ensure resource availability. Banks that are in the process of updating their ATMs, or are considering doing so, should contact their terminal vendors to ascertain potential options and costs. For ATMs that have existing card readers in need of replacement, you should consider the customer experience. There are two types of card readers capable of EMV: motorized-insertion readers and dip-and-clip readers. Motorized-insertion readers will continue to operate as they do today. With dip-and-clip readers, the customer will remove their card and receive instructions to re-insert and leave their card in the reader during the entire transaction. This change will require customer re-training, because if the customer forcibly removes the card after re-insertion, the clip could be damaged. ISSUING EMV CHIP CARDS For institutions that are considering issuing EMV chip cards, the implications are significant in terms of the complexities, timing and costs of implementation. FRAUD LIABILITY SHIFT AND BANK DEBIT CARDS With today s mag-stripe transactions, fraud liability for card-present transactions is the responsibility of the card issuer. However, if both parties issuers and merchants have enabled EMV, then transaction fraud liability still remains with the card issuer, albeit for significantly more secure transactions. For card-present transactions, there is only one situation in which liability will switch to the merchant: the shift occurs when the card issuer has given its customer an EMV chip card, but the merchant has not yet enabled EMV acceptance. In this scenario, the issuer has chargeback rights to recover these specific fraud losses. It will take merchants years to update their point-of-sale terminals to support EMV, with smaller merchants projected to take the longest. In the meantime, many merchants will still be using the mag-stripe to process EMV cards. This practice will still expose EMV cards to potential fraud well into the future. So, until the market reaches the point at which EMV cards can be processed without the use of mag-stripe functionality, banks will be placed in a situation of having to reissue the now more expensive EMV debit card should its mag-stripe become compromised. 6

7 EMV ISSUANCE IN THE U.S. EMV chip cards use sophisticated technology that features many different options and configuration profiles. Several of these options were developed to support offline functionality, in which the chip on the card performs various functions that, in the U.S., would be the responsibility of the issuer s online authentication system to conduct. Without the need to enable offline functionality, EMV deployment from an options and profile perspective narrows fundamentally to one decision: to include contactless interface with each card or not. EMV CARD INTERFACE OPTIONS EMV chip cards are typically deployed in one of two forms: contact only or dual interface. With contact-only cards, the metallic area on the front of the card is its contact plate. A microprocessor chip is embedded directly behind the contact plate. With an EMV contact transaction, the card is inserted into a card acceptance device (e.g., a payment terminal). The card reader must maintain physical contact with the plate and chip for the duration of the transaction. This connection enables the chip to get power from, and exchange data with, the terminal. This is often referred to as dip to pay. Dual-interface cards include both the contact interface and the contactless interface. Contactless EMV works by holding a contactless chip-enabled card, which also contains an integrated antenna that s placed in the border of the card, within proximity of a contactless-capable EMV reader. The reader wirelessly powers the chip embedded in the card and allows exchange of data via NFC. This is often referred to as tap to pay, because the card never has to leave the customer s possession. Contact-only EMV cards are the most common form of EMV implementation, due in large part to costs with issuing the more expensive dual-interface cards and the lack of NFC-enabled terminals. 7

8 EMV ROLL-OUT STRATEGY After your bank s card program has been upgraded to begin issuing EMV cards, there are several approaches to consider when rolling them out to your existing card base. One approach is to reissue the entire existing card base at one time. However, this approach results in fairly significant upfront costs, as well as a steeper learning curve for consumers and branch staff alike, which slows the overall experience of working with EMV transaction data. The generally accepted industry approach is to upgrade your existing card base as cards expire. Spreading the costs out, while both building on EMV experiences and working to educate cardholders on its use, allows banks to take a more systematic, successful approach to EMV migration. Additionally, with this approach, banks can still target specific customer segments that would be inclined toward EMV-enabled cards. For example, consumers who frequently travel internationally will increasingly be challenged when attempting to use a non-emv debit card, as most of the rest of the world has already adopted EMV. In order to continue to support these valued customers, the bank can preemptively identify these travelers and reissue/upgrade their existing cards to include EMV chip functionality. Estimated EMV-Related Costs for Bank Consideration EMV-Related Setup Costs: $5,000-$10,000 Program Setups Testing and Certifications EMV Chip Cards: $3-$7 per card Monthly Support Costs: $50-$250 EMV Transaction Cryptogram Validation Costs: $0.005-$0.05 per transaction 8

9 EMV AND PLASTIC CARD LAYOUT AND ART With the embedded EMV chip, banks will need to work with card issuers to redesign their card layout and art. That s because the EMV chip placement is on the front of the card, to the left above the PAN (see images below). PURPLE: Issuer Logo BLUE: Verbiage RED: Logo (primary network) GREEN: Logo (secondary network) FRONT OF THE CARD The placement of the chip significantly reduces the area available for the issuer s logo, and requires issuers to reevaluate their logo placement as part of the overall card design. Banks should strongly consider moving the brand hologram to the back of the card, as pictured in layouts 2 and 3. BACK OF THE CARD The placement of the chip makes a similar impact to the back of the card, reducing the area for the signature and CVV2/CVC2. The bank verbiage can be placed to the right of the hologram, and banks also should consider shortening the verbiage as a result of the limited space and the requirement to list the bank s phone number (not a third party) on the card. 9

10 CSI EMV ISSUER ROADMAP CSI currently is certifying EMV-capable ATMs. For those ATMs that meet the minimum requirements, CSI intends to support banks ability to accept EMV in the first quarter of We also continue to work with card vendors and networks to certify EMV chip card issuance readiness, and anticipate the ability to support upgrading card programs for EMV in the first quarter of CONCLUSION Many banks are still in the discovery phase regarding EMV technology, as well as weighing the benefits of implementing an EMV-enabled card program. While each day brings news of another data breach related to card fraud, which results in both monetary and reputational risks, banks also face the cost of putting EMV cards in rotation and maintaining them well ahead of most merchants. The most important question for a bank surrounds timing: When should my bank jump in? The answer will vary for each bank, as each institution considers market conditions, card replacement strategies and customer demographics. And the upcoming fraud liability shifts should be considered as a factor in the decision as well. Regardless of the timing your bank chooses, launching an EMV card program will benefit your institution and its customers. Though it is not without increased costs in terms of plastics and processing, EMV is a more secure technology that will greatly reduce counterfeit card fraud. As you weigh the pros and cons on issuing EMV cards, consider not only the operational costs, but also the reputational benefits that may come from customers who recognize EMV as the more secure card option. These customers will likely reach for their EMV-enabled card more often than their non-emv cards, even if they are using them at terminals not yet equipped for EMV technology. ABOUT CSI Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet solutions, payments processing, print and electronic distribution, and regulatory compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI s reputation and have resulted in the company s inclusion in such top industry-wide rankings as the FinTech 100, Talkin Cloud 100 and MSPmentor Top 501 Global Managed Service Providers List. CSI s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit 10 KY_110514_201_V2

Community Financial Institution EMV Readiness

Community Financial Institution EMV Readiness Community Financial Institution EMV Readiness EMV is a trademark owned by EMVCo LLC 2014 First Data Corporation. All Rights Reserved. Copyright 2014 First Data Corporation EMV Timeline 2011: EMV technology

More information

Payments Transformation - EMV comes to the US

Payments 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 information

THE 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 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 information

EMV and Small Merchants:

EMV 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 information

What is EMV? What is different?

What 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 information

Visa Recommended Practices for EMV Chip Implementation in the U.S.

Visa 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 information

EMV and Restaurants: What you need to know. Mike English. October 2014. Executive Director, Product Development Heartland Payment Systems

EMV 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 information

American Express Contactless Payments

American Express Contactless Payments PRODUCT CAPABILITY GUIDE American Express Contactless Payments American Express Contactless Payments Help Enable Increased Convenience For Card Members At The Point Of Sale American Express contactless

More information

What Merchants Need to Know About EMV

What 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 information

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 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 information

U.S. Smart Card Migration: Stripe to EMV Claudia Swendseid, Federal Reserve Bank of Minneapolis Terry Dooley, SHAZAM Kristine Oberg, Elavon

U.S. Smart Card Migration: Stripe to EMV Claudia Swendseid, Federal Reserve Bank of Minneapolis Terry Dooley, SHAZAM Kristine Oberg, Elavon 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 Who We Are Claudia

More information

Heartland Secure. By: Michael English. A Heartland Payment Systems White Paper 2014. Executive Director, Product Development

Heartland 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 information

Practically Thinking: What Small Merchants Should Know about EMV

Practically 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 information

EMV 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 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 information

EMV: Background and Implications for Credit Unions

EMV: 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 information

A Guide to EMV. Version 1.0 May 2011. Copyright 2011 EMVCo, LLC. All rights reserved.

A 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 information

EMV and Restaurants What you need to know! November 19, 2014

EMV 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 information

The 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 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 information

What Issuers Need to Know Top 25 Questions on EMV Chip Cards and Personalization

What 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 information

EMV Frequently Asked Questions for Merchants May, 2014

EMV 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 information

EMV : Frequently Asked Questions for Merchants

EMV : 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 information

Preparing for EMV chip card acceptance

Preparing 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 information

Emerging 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 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 information

toast 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 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 information

EMV Card Plan & Worksheet

EMV Card Plan & Worksheet EMV Card Plan & Worksheet Ready To Begin Your EMV Journey? When you re ready to begin your EMV card journey, you ll need to make a series of specific decisions regarding your program. If you re new to

More information

A Brand New Checkout Experience

A 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 information

A Brand New Checkout Experience

A 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 information

Understand the Business Impact of EMV Chip Cards

Understand 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 information

OpenEdge Research & Development Group April 2015

OpenEdge 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 information

A RE T HE U.S. CHIP RULES ENOUGH?

A 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 information

EMV Acquiring at the ATM: Early Planning for Credit Unions

EMV Acquiring at the ATM: Early Planning for Credit Unions EMV Acquiring at the ATM: Early Planning for Credit Unions EMV Adoption Recent data breaches and planned Network Liability shifts have increased the interest in EMV at the ATM and have affected the planned

More information

Your Reference Guide to EMV Integration: Understanding the Liability Shift

Your 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 information

U.S. EMV Debit Implementation Guidelines for POS Acquirers

U.S. EMV Debit Implementation Guidelines for POS Acquirers U.S. EMV Debit Implementation Version 1.0 August 15, 2014 About Debit Network Alliance Debit Network Alliance LLC (DNA) is a Delaware limited liability company owned by ten U.S. Debit Networks, and open

More information

Save Money on Credit Card Processing. So how do you save money on credit card processing? It is a very simple process.

Save Money on Credit Card Processing. So how do you save money on credit card processing? It is a very simple process. 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 information

Dates VISA MasterCard Discover American Express. support EMV. International ATM liability shift 2

Dates 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 information

Implication 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. 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 information

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 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 information

EMV 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 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 information

EMV EMV TABLE OF CONTENTS

EMV 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 information

PCI and EMV Compliance Checkup

PCI 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 information

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 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 information

FAQ EMV. EMV Overview

FAQ 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 information

How to Prepare. Point of sale requirements are changing. Get ready now.

How 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 information

Planning For EMV Technology. Your Guide to Making the Transition

Planning For EMV Technology. Your Guide to Making the Transition Planning For EMV Technology Your Guide to Making the Transition Table of Contents What is EMV? How does it work? Why is it happening? Who will be affected? Is POS terminal replacement necessary? Is this

More information

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 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 information

Euronet s EMV Chip Solutions Superior Protection with Enhanced Security against Fraud

Euronet 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 information

EMV FOR U.S. ACQUIRERS: SEVEN GUIDING PRINCIPLES FOR EMV READINESS

EMV 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 information

A Guide to EMV Version 1.0 May 2011

A Guide to EMV Version 1.0 May 2011 Table of Contents TABLE OF CONTENTS... 2 LIST OF FIGURES... 4 1 INTRODUCTION... 5 1.1 Purpose... 5 1.2 References... 5 2 BACKGROUND... 6 2.1 What is EMV... 6 2.2 Why EMV... 7 3 THE HISTORY OF EMV... 8

More information

EMV: A to Z (Terms and Definitions)

EMV: A to Z (Terms and Definitions) EMV: A to Z (Terms and Definitions) First Data participates in many industry forums, including the EMV Migration Forum (EMF). The EMF is a cross-industry body focused on supporting an alignment of the

More information

EMV in Hotels Observations and Considerations

EMV 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 information

EMV: Preparing for the shift

EMV: 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 information

Fall Conference November 19 21, 2013 Merchant Card Processing Overview

Fall 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 information

Card Technology Choices for U.S. Issuers An EMV White Paper

Card 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 information

Card Payments Roadmap in the United States: How Will EMV Impact the Future Payments Infrastructure?

Card Payments Roadmap in the United States: How Will EMV Impact the Future Payments Infrastructure? Card Payments Roadmap in the United States: How Will EMV Impact the Future Payments Infrastructure? A Smart Card Alliance Payments Council White Paper Publication Date: September 2012 Publication Number:

More information

NEWS BULLETIN 2015-16

NEWS 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 information

Mobile Near-Field Communications (NFC) Payments

Mobile Near-Field Communications (NFC) Payments Mobile Near-Field Communications (NFC) Payments OCTOBER 2013 GENERAL INFORMATION American Express continues to develop its infrastructure and capabilities to support growing market interest in mobile payments

More information

Plotting a Course for EMV Compliance

Plotting a Course for EMV Compliance Plotting a Course for EMV Compliance Plotting a Course for EMV Compliance PCI compliance...emv compliance by now, you ve heard repeatedly that your store or restaurant must be EMV-compliant by the recently

More information

Making the Move to EMV: The Risks and the Rewards

Making the Move to EMV: The Risks and the Rewards White paper A First Capital Payments Smart Guide Making the Move to EMV: The Risks and the Rewards Understanding, Implementing, and Benefitting From EMV Technology By: Hiram Hernandez, Jr. CEO, First Capital

More information

Payment 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 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 information

Mitigating Fraud Risk Through Card Data Verification

Mitigating 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 information

Introductions 1 min 4

Introductions 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 information

EMV and Encryption + Tokenization: A Layered Approach to Security

EMV 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 information

EMV FAQs for developers

EMV FAQs for developers EMV FAQs for developers You accept the Information presented herein as is, without any representation as to its accuracy or completeness. What are the three levels of EMV certification? There are three

More information

EMV ADOPTION AND YOU: WHAT YOU REALLY NEED TO KNOW

EMV ADOPTION AND YOU: WHAT YOU REALLY NEED TO KNOW : WHAT YOU REALLY NEED TO KNOW WHAT IS EMV? EMV specifications are a global set of guidelines developed by Europay, MasterCard and Visa (EMV) in the 1990s to standardize embedded chip card technology.

More information

PREPARING FOR THE MIGRATION TO EMV IN

PREPARING 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 information

Secure Payments Framework Workgroup

Secure Payments Framework Workgroup Secure Payments Framework Workgroup EMV for the US Hospitality Industry Version 1.0 About HTNG Hotel Technology Next Generation (HTNG) is a non-profit association with a mission to foster, through collaboration

More information

The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses. National Computer Corporation www.nccusa.com

The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses. National Computer Corporation www.nccusa.com The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses Making the customer payment process convenient,

More information

U.S. Bank. U.S. Bank Chip Card FAQs for Program Administrators. In this guide you will find: Explaining Chip Card Technology (EMV)

U.S. Bank. U.S. Bank Chip Card FAQs for Program Administrators. In this guide you will find: Explaining Chip Card Technology (EMV) U.S. Bank U.S. Bank Chip Card FAQs for Program Administrators Here are some frequently asked questions Program Administrators have about the replacement of U.S. Bank commercial cards with new chip-enabled

More information

PCI 3.1 Changes. Jon Bonham, CISA Coalfire System, Inc.

PCI 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 information

The Canadian Migration to EMV. Prepared By:

The 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 information

EMV Overview. Get Familiar with EMV & Our Plans to Support it

EMV Overview. Get Familiar with EMV & Our Plans to Support it EMV Overview Get Familiar with EMV & Our Plans to Support it What is EMV? Understanding EMV & the Technology that Powers EMV Cards EMV, which stands for Europay, MasterCard and Visa, is the technology

More information

OpenEdge Research & Development Group April 2015

OpenEdge 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 information

Tokenization: FAQs & General Information. www.tsys.com BACKGROUND. GENERAL INFORMATION What is Tokenization?

Tokenization: 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 information

Why You Should Adopt EMV Chip Card Technology

Why 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 information

PREVENTING PAYMENT CARD DATA BREACHES

PREVENTING 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 information

EMV DEBIT ROUTING VERIFONE.COM

EMV DEBIT ROUTING VERIFONE.COM EMV Debit Routing Overview Complying with the EMVCo requirements, card network requirements and meeting the Durbin Amendment debit routing regulation (Regulation II), while managing debit card processing

More information

WHITE PAPER U.S. JOINING WORLDWIDE EMV MOVEMENT

WHITE PAPER U.S. JOINING WORLDWIDE EMV MOVEMENT U.S. JOINING WORLDWIDE EMV MOVEMENT EXECUTIVE SUMMARY The U.S. payments industry has relied on magnetic stripe-based card technology for decades, but most countries have or are in the process of transitioning

More information

Fiscal Service EMV Education Series EMV-Compliant Point-of-Sale Card Acceptance for Federal Agencies. Fiscal Service / Vantiv July 27, 2015

Fiscal Service EMV Education Series EMV-Compliant Point-of-Sale Card Acceptance for Federal Agencies. Fiscal Service / Vantiv July 27, 2015 Fiscal Service EMV Education Series EMV-Compliant Point-of-Sale Card Acceptance for Federal Agencies Fiscal Service / Vantiv July 27, 2015 Disclaimer: This communication, including any content herein and/or

More information

E M V I M P L E M E N TAT I O N T O O L S F O R S U C C E S S, P C I & S E C U R I T Y. February 2014

E M V I M P L E M E N TAT I O N T O O L S F O R S U C C E S S, P C I & S E C U R I T Y. February 2014 E M V I M P L E M E N TAT I O N T O O L S F O R S U C C E S S, P C I & S E C U R I T Y February 2014 A G E N D A EMV Overview EMV Industry Announcements EMV Transaction Differences, What to Expect Solution

More information

Apple Pay. Frequently Asked Questions UK

Apple 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

Credit Card Processing, Point of Sale, ecommerce

Credit 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 information

Chip Card (EMV ) CAL-Card FAQs

Chip Card (EMV ) CAL-Card FAQs U.S. Bank Chip Card (EMV ) CAL-Card FAQs Below are answers to some frequently asked questions about the migration to U.S. Bank chipenabled CAL-Cards. This guide can help ensure that you are prepared for

More information

Apple Pay. Frequently Asked Questions UK Launch

Apple 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 information

Android pay. Frequently asked questions

Android pay. Frequently asked questions Android pay Frequently asked questions June 2015 Android Pay - FAQs In May 2015, Android Pay was announced by Google. Android Pay is Google s payments solution that allows consumers to do in-store and

More information

EMV Chip and PIN. Improving the Security of Federal Financial Transactions. Ian W. Macoy, AAP August 17, 2015

EMV Chip and PIN. Improving the Security of Federal Financial Transactions. Ian W. Macoy, AAP August 17, 2015 EMV Chip and PIN Improving the Security of Federal Financial Transactions Ian W. Macoy, AAP August 17, 2015 Agenda 1. Executive Order 13681 2. What Is EMV? 3. Federal Agency Payment Card Acceptance Environment

More information

Target Security Breach

Target 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 information

PAGE ONE Economics CLASSROOM EDITION. The Smart-Chip Credit Card: A Current Solution

PAGE 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 information

WHITE PAPER SECURE PAYMENTS: A MULTI-PRONGED APPROACH

WHITE PAPER SECURE PAYMENTS: A MULTI-PRONGED APPROACH SECURE PAYMENTS: A MULTI-PRONGED APPROACH EMV, ENCRYPTION, TOKENIZATION & SECURE COMMERCE ARCHITECTURE With the pressure being put upon merchants these days to become EMVcompliant, it may be confusing

More information

EMV ADOPTION AND ITS IMPACT ON FRAUD MANAGEMENT WORLDWIDE

EMV 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 information

Key Considerations in Launching Your EMV Program

Key Considerations in Launching Your EMV Program Key Considerations in Launching Your EMV Program Shoreline, a Gemalto company +2bn END USERS BENEFIT FROM OUR SOLUTIONS $2.7bn 2014 REVENUE 14,000+ EMPLOYEES 116 NATIONALITIES 180+ COUNTRIES WHERE OUR

More information

Wayne EMV Solutions. Protect your business with a complete EMV Solution inside and out.

Wayne EMV Solutions. Protect your business with a complete EMV Solution inside and out. Wayne EMV Solutions Protect your business with a complete EMV Solution inside and out. The transition to Europay, MasterCard, Visa (EMV) standards: Significantly reduce your risk of payment card fraud

More information

PCI DSS Compliance Services January 2016

PCI DSS Compliance Services January 2016 PCI DSS Compliance Services January 2016 20160104-Galitt-PCI DSS Compliance Services.pptx Agenda 1. Introduction 2. Overview of the PCI DSS standard 3. PCI DSS compliance approach Copyright Galitt 2 Introduction

More information

Prevention Is Better Than Cure EMV and PCI

Prevention 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 information

Changing 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 Changing Consumer Purchasing Patterns John Mayleben, CPP SVP, Technology and Product Development Michigan Retailers Association Michigan Retailers Association! Michigan Retailers Association is trade

More information

Mobile Payment: The next step of secure payment VDI / VDE-Colloquium. Hans-Jörg Frey Senior Product Manager May 16th, 2013

Mobile Payment: The next step of secure payment VDI / VDE-Colloquium. Hans-Jörg Frey Senior Product Manager May 16th, 2013 Mobile Payment: The next step of secure payment VDI / VDE-Colloquium May 16th, 2013 G&D has been growing through continuous innovation Server software and services Token and embedded security Cards for

More information

First Data s Program on EMV

First 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 information

EMV Chip Card Payment Standard: Perspective

EMV Chip Card Payment Standard: Perspective Ellen Walsh Technology Overview 11 June 2002 EMV Chip Card Payment Standard: Perspective Summary EMV is an interoperability and compatibility standard for chip cards that allows cards to operate from any

More information

welcome to liber8:payment

welcome 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 information

Enhancing 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 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 information

PayPass M/Chip Requirements. 10 April 2014

PayPass M/Chip Requirements. 10 April 2014 PayPass M/Chip Requirements 10 April 2014 Notices Following are policies pertaining to proprietary rights, trademarks, translations, and details about the availability of additional information online.

More information