PRINCETON JUNCTION, N.J., Aug. 28, 2014 (GLOBE NEWSWIRE) -- ATM owners and operators have been urged to begin planning for U.S. EMV chip migration as soon as possible to protect themselves from potential fraud losses. To assist with the migration, the EMV Migration Forum today released a comprehensive white paper to serve as an educational guide for ATM providers, acquirers, processors and vendors preparing to implement EMV at the ATM in the U.S.
The white paper, "Implementing EMV at the ATM: Requirements and Recommendations for the U.S. ATM Community," was developed by the Forum's ATM Working Committee and can be downloaded for free at http://www.emv-connection.com/implementing-emv-at-the-atm-requirements-and-recommendations-for-the-u-s-atm-community/.
"ATMs are an extremely important component in the U.S. migration to chip technology. Though migrating may seem like a daunting task, thorough planning, communication and coordination will help to ensure success. This white paper provides valuable information and planning activities to help ease implementation challenges and aid in complying with EMV requirements," said Randy Vanderhoof, director of the EMV Migration Forum.
The white paper includes technical details about chip transactions, information about which functions must be implemented to provide EMV compliance at the ATM, and recommended planning activities for implementation. The white paper covers these topics in detail:
- Fundamental EMV concepts
- Basic EMV requirements for ATMs
- Migration planning
- General considerations
- Recommended and suggested best practices
- ATM transaction processing with EMV
"This EMV implementation guide for the ATM is available thanks to the support of the ATM industry and the contributions of many Forum members that generously volunteered their time and expertise. The end result is a thorough and accurate white paper that ATM owners and/or operators can reference through every stage of their migration," said David Tente, U.S. executive director of the ATM Industry Association (ATMIA).
"The National ATM Council recently recommended that our member companies and the independent ATM sector as a whole implement aggressive programs to ensure EMV compliance by October 2016. As a contributor to the drafting of this white paper, NAC is confident that the extensive information provided will assist the U.S. ATM industry as a whole in making the transition to chip card technology. NAC applauds the EMV Migration Forum and the ATM Working Committee for their efforts to help inform the ATM community and make the EMV transition as smooth as possible for all parties involved," said Bruce Renard, executive director of the National ATM Council (NAC).
"Implementing EMV at the ATM: Requirements and Recommendations for the U.S. ATM Community" was created as a general overview and guide. Each ATM owner/operator will undoubtedly have unique needs. The EMV Migration Forum therefore encourages each ATM owner/operator to work closely with their vendors, processors and payment network representatives to ensure a smooth transition to EMV.
This white paper is part of the EMV Migration Forum's ongoing efforts to provide the education necessary for the U.S. to successfully move to chip cards. For more information on the Forum and additional resources, visit http://www.emv-connection.com and follow @EMVForum on Twitter.
An executive summary of the white paper is available at http://media.globenewswire.com/cache/22744/file/28484.pdf
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 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/
CONTACT: Megan Shamas Montner & Associates Tech PR 203-226-9290 firstname.lastname@example.org
Source:EMV Migration Forum