FIME today announced a new go-to-market EMV consulting kit for Issuers to effectively issue EMV chip cards.
Even with the October 2015 fraud liability shift just around the corner, many small to medium sized financial institutions throughout the U.S. have not yet begun the transition to issuing EMV chip cards. For financial institutions to fast-track and simplify EMV chip card issuance, leading payments consultancy FIME today announced a new go-to-market EMV consulting kit for small to medium banks and credit unions. The EMV Starter Kit for Issuers is an out-ofthe-box consulting services package that includes all of the key components needed to effectively issue EMV chip cards.
Financial institutions looking to accelerate and streamline the issuance of any combination of contact, contactless, credit or debit EMV chip cards can take advantage of FIME’s competitive issuing consulting package, available immediately for only $10,000. For more details, visit https://www.fime.com/paymentsystems.html.
“The transition to EMV chip cards is not a trivial task, and with the fraud liability shift only seven months away, issuers need to take ownership of their implementation projects,” said Xavier Giandominici, director of FIME America. “This starter kit gives issuers all of the necessary tools to make the best decisions for their business and their EMV issuance project with the benefit of complete, end-to-end support from EMV experts.”
Financial institutions that opt-in to FIME’s consulting kit will gain knowledge on EMV chip cards; save time and money by speeding up project execution; increase confidence in business decisions with the guidance from FIME experts’ advice; configure their chip cards to match their business needs; be ready to comply with the October 2015 fraud liability shift; understand the technical choice available and the impact on business requirements; and accelerate issuing projects with step-by-step support along the certification process.
With this comprehensive offer, FIME closes the gap between financial institutions and issuing service providers by utilizing its global expertise and extensive experience to seamlessly guide financial institutions through EMV implementation from start to finish. fime.com
The consulting services are divided into a series of predefined steps in order to simplify and expedite the EMV implementation for issuers, focusing only on these aspects of the project which require specific attention:
1. Current environment analysis. An EMV issuance expert from FIME will interview the product managers, logical security, IT management, corporate branding, POS and ATM suppliers, personalization bureaus and other project stakeholders in order to analyze and diagnose what needs to be done to get a financial institution EMV-ready.
2. EMV Workshop. FIME provides a full day of on-site training to educate business management and operations staff on the basics and essentials of EMV chip technology. Training covers why, how and when a financial institution should make the transition to EMV chip technology.
3. Card profile business requirements and specification. For many small to medium-sized financial institutions, understanding the technical details of the EMV standard is out of scope for in-house resources. FIME combines industry expertise with the data from the initial environment analysis to determine what specifications your financial institution needs to support to issue EMV chip cards. FIME then builds all of this data into a personalized card profile, the technical specifications for an EMV chip card.
4. Card issuance follow-up with issuing card providers. A FIME expert will provide assistance during meetings with an issuing service provider and help financial institutions interpret technical aspects through their business requirements.
5. Card validation and certification support. By taking advantage of FIME’s more than 20 years of experience in EMV product certification, issuers will have the confidence that they and their personalization bureau have the most specialized support on the market for card personalization certification.
Financial institutions have the option to customize their consulting kit by adding on FIME’s test tools and testing and certification services.
FIME also provides end-to-end consulting services for large financial institutions, merchants and other payments stakeholders. For more information, visit FIME Payment portal online.
Want more information? Get in touch with FIME’s issuing consultants at issuingNA@fime.com.