PRINCETON JUNCTION, N.J., June 19, 2013 (GLOBE NEWSWIRE) -- To more broadly address the challenges impacting the U.S. payments ecosystem's move to EMV chip payments, the EMV Migration Forum today announced an expansion of its Working Committees to include the ATM Working Committee and the Card-Not-Present Fraud Working Committee. The Forum also announced its next members-only meeting for June 27-28, 2013, hosted by McDonald's at Hamburger University in Oak Brook, IL. Member registration information is available at http://www.cvent.com/events/emv-migration-forum-meeting-june-13/event-summary-403fa5c3460d4d8e81eb221ee1b2a08f.aspx.
The EMV Migration Forum, an independent cross-industry organization, was formed to address issues that require broad cooperation and coordination across the payments space in order to successfully introduce secure EMV contact and contactless technology in the United States. Forum membership has grown to 135 member organizations from the entire payments industry, including global payment brands, financial institutions, merchants, processors, acquirers, regional debit networks, industry suppliers and industry associations.
"The tremendous growth of our membership and their broad cross-industry participation in the working committees has allowed us to create new committees to address additional challenges that are critical to a successful move to EMV," said Randy Vanderhoof, director of the EMV Migration Forum. "Having committees dedicated to providing input, solutions and expertise to address challenges with ATM and card-not-present transactions will complement our other projects and allow even more individuals and organizations to have a voice in U.S. EMV migration."
The two new committees have quickly aligned around goals and initial projects. They join the Communications and Education, Debit, U.S. Coordination, and Certification and Testing Working Committees in carrying out the work and the vision of the Forum.
The goal of the ATM Working Committee is to create a more positive EMV migration experience for consumers. To achieve this, the committee will explore the challenges of EMV migration for the U.S. ATM industry, work to identify possible solutions to challenges, and facilitate the sharing of best practices with the various industry constituents.
The goal of the Card-Not-Present Fraud Working Committee is to create a comprehensive best practices strategy to mitigate card-not-present fraud in the new EMV chip card environment, using a balanced approach considering all key stakeholders - issuers, consumers, merchants, acquirers, networks and third parties.
The upcoming June meeting will update attendees on the progress being made by the working committees and include working sessions for attendees to explore in more detail the key challenges that the payments industry faces in moving to EMV. In addition, there will be several stakeholder updates and EMV educational sessions to provide members with the latest EMV information.
EMV Migration Forum meetings are for member organizations and industry associations representing groups of stakeholder members only. Membership information, member lists and membership applications are available at http://www.emv-connection.com/membership-information/.
About U.S. EMV Migration
Commonly used globally in place of magnetic stripe, EMV chip technology drastically reduces card fraud in a face-to-face card-present environment; provides global interoperability; and enables safer and smarter transactions across cards and contactless channels. American Express, Discover, MasterCard and Visa have all announced their plans for supporting an EMV-based payments infrastructure in the U.S., with acquirer processor readiness mandates to support chip data in place for 2013, and 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 an alignment of the EMV implementation steps required for global and regional payment networks, issuers, processors, merchants, and consumers to ensure a successful introduction of more secure EMV contact and contactless 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.smartcardalliance.org/pages/activities-emv-migration-forum.