Security and Compliance Topics
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What is EMV?
EMV is a card interoperability standard originated in Europe for the use of chip cards (also known as ‘smart cards’) which are generally accepted to reduce card payment fraud - a problem that continues to grow. Visa, MasterCard and American Express are pressing to bring EMV to the US, but delays are possible and even likely due to the extensive and complex payments infrastructure currently in place in the US, the cost and timeframe of associated changes/upgrades and the current lack of EMV specifications.
Key EMV Dates/Milestones
Effective 1 October 2012, Visa will expand the Technology Innovation Program (TIP) to the U.S. TIP eliminates the requirement that eligible merchants annually validate their compliance with the PCI DSS for any year in which at least 75% of the merchant’s Visa transactions originate from dual-interface EMV chip-enabled terminals, in addition to meeting other qualification criteria. Of course, PCI DSS compliance must be maintained even if not annually validated, and the additional qualification criteria is extensive, so this is not a silver bullet and is not relevant to MasterCard, American Express, and Discover.
Effective 1 April 2013, all acquirers are required to be able to support chip transactions. However, at this point, some US EMV requirements have not been finalized and US acquirers have not yet determined the specifications for EMV. Beware of hardware/software providers claiming early EMV support, as the requirements simply are not yet available or even known.
Effective 1 October 2015, a liability shift is scheduled to be implemented, shifting liability from acquirers to merchants for fraudulent transactions that occur at non-EMV locations that would have been avoided if EMV had been implemented at said merchant location. Merchants will need to assess the potential financial impact of this liability vs. the cost of implementing EMV.
Datacap Systems is one of the few payment middleware providers who successfully developed, certified, and implemented an integrated EMV (chip and pin) solution in the Canadian market. Once EMV specifications are available, Datacap will immediately begin development and certification, leveraging our existing knowledge-base and experience to ease the transition for our Point of Sale integration partners. Datacap stands ready to help partners and customers understand the best way to proceed.
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Are You a POS Software Developer?
Datacap offers a variety of Security-Centric interface options
-Out of Scope Interfaces (US & CAN)
-Tokenization support on NETePay (Term-based)
-Point to Point Encryption with Datacap hardware