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EMV Adoption: Secure Payments with Chip Technology in the USA

Discover the global standard for secure payment cards using chip technology. EMV adoption is on the rise in America with major card brands implementing plans for the transition. Understand the concept of Liability Shift and the benefits of EMV technology in reducing fraud. Learn about the progress of EMV adoption worldwide and how it enhances payment security. Are you prepared for the EMV shift in the USA?

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EMV Adoption: Secure Payments with Chip Technology in the USA

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  1. R U Ready? V M E EMV: Global, interoperable standard for secure payment cards using chip technology.

  2. EMV is no longer just a “Maybe” or “Someday” … EMV is COMING to America NOW

  3. All card brands have released plans for EMV adoption in the USA.

  4. Issued a roadmap to EMV in January 2012 to align all industry groups in the implementation of EMV. MasterCard Liability Shift – October 1, 2015 In August, announced a roadmap to accelerate EMV migration in contactless and contact chip technology. Visa Liability Shift – October 1, 2015 In July, announced a roadmap to advance EMV chips for all merchants, processors and issuers. Amex Liability Shift October 1, 2015

  5. What does “Liability Shift Mean”?

  6. *After the EMV Deadline Liability Breakdown* Payment Card: EMV CHIP? X c c c X Point of Sale: EMV Ready? Shared liability, normal rules apply Card provider liable for ANY fraud. Merchant liable for ANY fraud.

  7. The EMV Transition has Already Begun! • Big banks are issuing EMV travel cards for international travelers. • Retailers such as Wal-Mart, Best Buy and Home Depot are beginning EMV change • McDonalds and Nordstrom are working towards EMV

  8. 70% of point of sale terminals are projected to by EMV equipped prior to the liability shift in 2015.

  9. Will YOU be EMV Ready when they are?

  10. What exactly is EMV? A Chip Card A Smart Card Chip & Pin

  11. A card that is embedded with a microprocessor chip. • An EMV card can be used with a signature or a PIN. • EMV technology reduces fraud that can occur with just the magnetic stripe • EMV is the global standard for payment cards. EMV Card Basics

  12. EMV Adoption Around the World 94% of European countries have completely converted to EMV 76.7% EMV adoption rate in Canada, Latin American and the Caribbean 54% EMV conversion in Asia Pacific USA is the last of the G12 Countries to adopt the EMV international standard

  13. European self-service kiosks in train stations do not accept a magnetic stripe and most require a PIN. • Many foreign merchants have abandoned the technology needed to process a magnetic stripe card. If you’ve traveled abroad lately, you may have encountered a problem.

  14. Aite Group

  15. EMV Reduces Fraud

  16. Why is EMV so secure? • EMV Transactions involve dynamic digital data that is extremely secure – not static. • A PIN verifies that the consumer is indeed using his or her card.

  17. EMV’s two authentication options combat fraud:

  18. In the American EMV roll out, all cards will have a chip&magneticstripe … Dual-Operability

  19. How it Works! A Typical EMV Transaction Payment Method Authentication Verification Online or Offline Chip & PIN Contact or or Contactless Chip & Signature

  20. 3 Levels of EMV Chips

  21. Simple chip with less complexity • Chip, Signature & Stripe implementation • Many processors aren’t supporting PIN yet • Not all POS merchants ready for PIN either First Wave of EMV in America

  22. MasterCard and Visa have recommended a basic profile for the American EMV conversion: Chip & Signature Maintain Magnetic Stripe Online Authentication

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