Creditcall CTO: Migrate Systems To EMV Now

By Bernadette Wilson

Jeremy Gumbley, CTO of Creditcall, tells how the U.S. compares to other countries’ progress in their EMV migration at a year before the deadline, as well as what IT solutions providers should be doing for their customers now.

Q: Our readers’ merchant customers have until October 2015 to implement EMV-enabled systems to avoid responsibility for fraudulent payment card transactions. Can you explain how that date and the upcoming shift in liability originated?

Gumbley: The October 2015 Liability Shift deadline was a joint effort created by payments brands in the U.S. In August 2011, Visa announced its plan to speed up EMV migration in the U.S. by implementing retailer incentives, processing infrastructure acceptance requirements and a counterfeit card liability shift. Shortly after that, MasterCard, Discover, and American Express announced their roadmaps to EMV in the U.S. with an agreed liability shift deadline of October 2015.

The main driver behind the push towards EMV acceptance in the U.S. is the technology’s ability to combat fraud.  

Please log in or register below to read the full article.