getnationwide.com let’s talk about emv danielle rourke
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getnationwide.com
Let’s Talk about EMVDanielle Rourke
EMVEuropay, MasterCard, Visa
EMV is a global standard for inter-operation of integrated circuit cards (IC cards or "chip cards") and IC card capable point of sale (POS) terminals and automated teller machines (ATMs), for authenticating credit and debit card transactions.
Two Kinds of EMV Cards
Chip & PIN Chip & Signature
123456 John Doe
Chip-and-PIN cards have not been heavily adopted in the US for a variety of reasons, including lack of PIN management features in ATMs.
80%
47%
FRAUD
EMVWhy is EMV more secure
EMVCompleting an EMV transaction
Accepting EMV Cards
EMV transactions (also referred to as the dip method) require that the cardholder inserts their chip card into the reader.
Today’s transactions require that the cardholder or merchant swipe their card through the magnetic stripe reader.
2015Liability Shifts in
Counterfeit Card Liability Shift The party that has made investment in EMV deployment is protected from financial liability for card-present counterfeit fraud losses on this date. If neither or both parties are EMV compliant, the fraud liability remains the same as it is today. This date excludes automated fuel dispensers.
October, 2015 – Fraud Liability ShiftMasterCard liability hierarchy takes effect. The party that has made investment in the most secure EMV options is protected from financial liability for card-present fraud losses for both counterfeit and lost, stolen and non-receipt fraud on this date.
October, 2015 – Account Data Compromise ReliefOn this date, if at least 95% of MasterCard transactions originate from EMV-compliant POS terminals, the merchant is relieved of 100% of account data compromise penalties.
Fraud Liability ShiftIn alignment with U.S. EMV migration timelines, Discover is introducing Fraud Liability Shift for Discover Network (in the U.S., Canada and Mexico) and PULSE (in the U.S.), effective October 1, 2015 at point-of-sale terminals and Oct. 1, 2017 at automated fuel dispensers. This Fraud Liability Shift policy will be a risk-based payments hierarchy that benefits the entity that leverages the highest level of available payments security. As Fraud Liability Shift is already in place for Diners Club International (effective December 31, 2012 for mandated Participants), Discover will have one standard liability shift policy in place across all networks by October 1, 2015.
October, 2015 – Fraud Liability ShiftAmerican Express will institute a fraud liability shift policy that will transfer liability for certain types of fraudulent transactions away from the party that has the most secure form of EMV technology.
ReallyWhat Does This
Mean?
CARD PRESENT
FRAUDonly
Scenario: Counterfeit
Card PresentedCard Issuer
EMV EnabledMerchant
Acquirer EMV Enabled
Merchant EMV Enabled
Financial Liability
1 No No No Card Issuer
2 No Yes Yes Card Issuer
3 Yes No No Merchant Acquirer
4 Yes Yes No Merchant
Helping merchants determine what’s best for them
YourselfAsk
Ask for identification
What is the $ amount card present fraud that could impact me?
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Which equipment makes the most sense for my business?
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Terminals & PIN Pads that are EMV/NFC Capable EMV Capable? NFC Capable?
Dejavoo V8S (SCR only) YES NO*
Dejavoo V8SP (SCR&NFC) YES YES
Pax S80 Terminal YES YES
Pax S90 WCDMA Wireless Terminal YES YES**
Verifone VX520 Dual Comm (NFC & SCR) YES YES
Verifone VX520 Dual Comm (SCR ONLY) YES NO*
Verifone Vx805/Vx520 Customer Facing PIN YES YES
Ingenico iCT220 YES YES
Ingenico iCT250 YES YES
Ingenico iWL255 (includes base) YES YES
*with Vx805/Vx820 **needs peripheral
*with Vx805/Vx820 **needs peripheral
HECK?How the
*with Vx805/Vx820 **needs peripheral
In Summary
No Mandate for EMV
www.gochipcard.com
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