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U.S. EMV chip migration: issuer processing considerations

The U.S. is now more than four years into its migration to EMV® chip technology to reduce counterfeit card fraud and promote global interoperability. With 52% of merchants currently enabled to accept chip cards , issuers have questions about how to process and authorize transactions for both chip transactions at enabled merchants as well as magnetic stripe transactions for the remaining merchants that haven’t yet migrated.

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Top take-aways from the 2017 Payments Summit

We’re just getting back from the Secure Technology Alliance Payments Summit, a three-day payments event in Orlando, Florida. We heard a lot of good discussion, both on-stage and in the exhibit hall, around technologies that are really disrupting the payments industry. Some of the conversations we found most interesting were around EMV® chip technology and contactless and mobile payments. Here are some of our top take-aways from the event.

I want to issue contactless EMV chip cards, where do I start?

There are a lot of benefits to using dual-interface EMV chip cards. More ways for the cardholder to pay means top of the wallet status for their card and greater convenience while giving the same level of security as contact EMV. They also allow for faster transactions and are equally secure, which makes for happy cardholders. Learning from those experiences, card issuers who want to get ahead on the next wave should seriously consider adding contactless EMV cards to their portfolio of card offerings.

chip cards

First steps for issuing EMV chip cards

As a card issuer in the U.S., you have a big decision to make when it comes to issuing EMV chip cards. While the case for issuing chip cards is strong, it’s important to be educated on what the process entails, and what you need to do to ensure a streamlined and efficient process.

Discussing EMV with Joe Santana

EMV® chip has had a staggering impact on the payments ecosystem since its introduction roughly twenty years ago. With migration progressing at different paces globally and the way we transact continuing to evolve – as wearables and smartphones shake up the ecosystem even more – EMV sits at the centre of the payments world. But why is EMV so important, what do stakeholders need to know and what are the next steps? We spoke to our EMV expert Joe Santana, to give us a global overview.

How do faster EMV solutions like Quick Chip and M/Chip Fast impact me?

Last year, American Express, Discover, Mastercard, and Visa each released their own “faster EMV®” processing solutions for optimizing online-only EMV transactions. These solutions give consumers the perception of a faster chip card transaction by allowing them to insert and remove their chip card from the terminal without waiting for the transaction to be finalized.

ATM

3 things all small banks and independent ATM owners should know before upgrading to EMV

While many major banks in the U.S. have already made the switch to EMV chip cards to curb in-store counterfeit card fraud, smaller banks and independent ATM owners are still working on their issuance and/or ATM enablement projects. For smaller banks and ATM owners looking to get their migration plans in place, these are some key business considerations for EMV at the ATM.

Plotting a course to mobile payments success

Consumers are adjusting to paying with a ‘tap’, demanding greater convenience and efficiency from their payment solutions. Mobile payments have seen a huge boost in consumer adoption in recent years, spurred on by the backing of digital giants, with mobile payment revenues estimated to surpass $1 trillion in 2019.

The demand for contactless is growing. Are you ready?

There is a lot for U.S. issuers and acquirers to consider when thinking about incorporating contactless payments into their offering. And depending where they are in their EMV migration, it’s a bigger decision than just “yes” or “no.” With most banks having already issued their first round of chip cards, now is the time to consider incorporating EMV contactless in their next round of issuance, as well as NFC mobile payments.

EMV at the ATM

Considerations and tips for ATM owners implementing EMV

Migrating to EMV at the ATM isn’t the same as migrating in stores – there are a lot of ATM-specific implementation, testing and certification considerations that should be considered to make the transition as smooth as possible.

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