PRINCETON JUNCTION, N.J., Jan. 7, 2014 (GLOBE NEWSWIRE) -- EMV chip technology is coming to the U.S. payment system to reduce counterfeit card fraud, provide global interoperability and enable safer and smarter transactions across card and mobile NFC payments channels. All U.S. payment industry stakeholders need to learn how migrating to EMV chip payments can help them to achieve these benefits and ready their organizations for the October 2015 shift in fraud liability. To provide essential foundational education to the payments community, the EMV Migration Forum is offering a free webinar, "EMV 101," on Jan. 22, 2014.
"With a payments ecosystem as complex as the U.S., card issuing banks and retailers should start now and engage in ongoing education throughout all stages of EMV chip migration," said Randy Vanderhoof, director of the EMV Migration Forum. "The EMV Migration Forum provides several levels of education, but this foundational 'EMV 101' tutorial is the most critical in preparing organizations for their move to EMV chip payments."
"EMV 101," featuring Guy Berg, senior managing consultant of MasterCard Advisors, will be held on Jan. 22 at 1 p.m. EST (10 a.m. PST). Free registration is available at https://www4.gotomeeting.com/register/294088327.
The webinar will provide a comprehensive overview of EMV chip technology, with topics including:
- EMV payment processes and how they differ from magnetic stripe transactions
- EMV chip security and risk management features
- Options for card authentication, cardholder verification and transaction authorization
- EMV specifications and references
- EMV implementation status - globally and in the U.S.
The webinar is part of the EMV Migration Forum's ongoing efforts to provide U.S. stakeholders with knowledge that is critical in planning and implementing a successful migration to EMV chip payments. The webinar will be recorded and added to the extensive library of EMV resources found at www.emv-connection.com, which includes additional tutorials and educational information specifically for issuers, merchants, acquirers/processors and consumers.
The EMV Migration Forum is holding its next one-day Working Committee Meeting on Feb. 3, 2014 in Salt Lake City, in conjunction with the Smart Card Alliance 7th Annual Payments Summit, which will take place Feb. 5-7. Visit http://www.cvent.com/events/emf-1-day-working-committee-meeting-february-14/event-summary-0653e4df3258461b845342115d0f5463.aspx for more information.
About U.S. EMV Migration
Commonly used globally in place of magnetic stripe, EMV chip technology helps to reduce card fraud in a face-to-face card-present environment; provides global interoperability; and enables safer and smarter transactions across contact and contactless channels. EMV implementation was initiated in the U.S. market in in 2011 and 2012 when American Express, Discover, MasterCard and Visa announced their roadmaps for supporting an EMV-based payments infrastructure. Acquirer processor readiness mandates to support EMV were established for 2013, with liability shifts for managing fraud risk in a face-to-face environment set for 2015.
About the EMV Migration Forum
The EMV Migration Forum is a cross-industry body focused on supporting the EMV implementation steps required for global and regional payment networks, issuers, processors, merchants, and consumers to help ensure a successful introduction of more secure EMV chip technology in the United States. The focus of the Forum is to address topics that require some level of industry cooperation and/or coordination to migrate successfully to EMV technology in the United States. For more information on the EMV Migration Forum, please visit http://www.emv-connection.com/emv-migration-forum/
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Source:EMV Migration Forum