It s Not Too Late for EMV What You Need To Do Now!

Transcription

1 It s Not Too Late for EMV What You Need To Do Now! September, 2015 Lindsay Breathitt, Product Marketing Steve Cole, Product Management Ray Moorman, Product Management

2 What is EMV? Fiction vs. Fact Why EMV, Why Now Agenda U.S. Market EMV timeline Features & Benefits of EMV Acceptance What you need to do today Terminal merchants What you need to do today POS merchants Questions 2

3 What is EMV? EMV is a set of international standards that defines interoperability of secure transactions across the international payments landscape. EMV helps prevent fraud. Chip produces a one time code with every transaction, making it nearly impossible to counterfeit. 3

4 EMV Fiction vs. Fact Fiction EMV is a merchant mandate There is no mandate Fact If you don t implement EMV you will be open to a breach EMV is part of the security and fraud puzzle and does not solve the problem alone Processing will be shut off if you don t switch to EMV by October 2015 Magnetic stripes will go away Your processing will not be shut off Totally False. Cards will have both chip and magnetic stripes You will be charged extra if you don t use a chip Your old hardware will stop working Solution provider: We have a product solution today for EMV Solution provider: Our solution is EMV-ready Interchange rates for EMV and card swipes are not changing as part of liability shift Existing hardware will continue to work for magnetic stripes Most solutions in the market are only partially ready EMV-ready is misleading term, and doesn t mean it s EMV-enabled

5 Why EMV, Why Now? U.S. card present fraud is above the world average and is increasing* Interoperability with global payments infrastructure Supports enhanced verification methods Offline PIN, Online PIN, Signature, No CVM 575 Million U.S. issued cards will have chips by end of 2015** *Source: Nilson Report, August **Payments Security Task Force (PST), MasterCard release 8/2014 5

6 U.S. Market EMV Timeline Key dates October 1, 2015 Liability will shift to merchants for counterfeit fraud card-present POS transactions if the merchant does not have an EMV-enabled POS device April 1, 2013 Acquirer processors were required to support merchant acceptance of chip transactions. October 1, 2017 Liability shift takes effect for transactions generated from automated fuel dispensers More than $11 billion was reported stolen due to credit and debit card fraud in 2013, up from $8 billion Javelin Strategy and Research 2014 Identity Fraud Report 6

7 Key Features and Benefits of EMV Acceptance Reduce risk of counterfeit, lost or stolen card fraud Reduce card skimming at the point of sale Accept foreign cards that are already EMV enabled Help keep your customer protected Improve Customer Experience at the payment device Future-proof your device by supporting emerging payment technologies 7

8 We interviewed 301 merchants and less than a third of merchants are currently equipped to process EMV transactions. What do you need to do to get upgraded? 8

9 Upgrade Today! EMV Terminal Options Ingenico ict220 with ipp320 EMV Reader Mag Stripe Reader Black/White Screen Contactless reader in PIN Pad Ingenico ict250 with ipp320 EMV Reader Contactless Reader Mag Stripe Reader Color Screen Contactless reader in PIN Pad 9

10 Upgrade Today! EMV Terminal Options VeriFone Vx520DC Contactless with Vx820 EMV Reader in Vx520 CTLS & Vx820 Mag Stripe reader in Vx520 CTLS & Vx820 Contactless reader in Vx520 CTLS & Vx820 Touch/Color screen on Vx820 VeriFone Vx520DC - Contactless with Vx805 EMV Reader in Vx520 CTLS & Vx820 Mag Stripe reader in Vx520 CTLS & Vx820 Contactless reader in Vx520 CTLS & Vx820 White Backlit screen on Vx805 10

11 Upgrading your POS to EMV Merchants can get started with chip cards and contactless capable payment devices by working with their resellers and POS software providers to implement the best upgrade solutions for their business. EMV Acceptance 11

12 EMV Implementation Options Standalone Vantiv/Mercury Semi-Integrated Vantiv/Mercury Fully Integrated Vantiv/Mercury 12

13 Implementation Planning Implementing EMV may require many changes: Hardware Application software Business and operational processes Merchant associate and customer checkout experience A successful implementation requires: Partnership with your vendors EMV subject matter expertise Associate and cardholder education 13

14 QUESTIONS? Visit or to learn more about EMV, chip cards, and how to better protect your business. 14