EMV Migration

EMV Migration

emv

Know the Facts on EMV
Regulators Sound Off: PIN is not the Answer
Co-sponsorship Letter to Congress


KNOW THE FACTS ON EMV

Claim: EMV will only be effective with PIN authentication.

The Facts:

 

Claim: Merchants have spent between $30 billion and $35 billion on POS equipment for EMV, which is more than banks have to spend.

The Facts:

 

Claim: Merchants can’t get EMV POS equipment certified fast enough to deploy.

The Facts:

 

Claim: Chip-and-PIN cards are already in wide use around the world and have significantly reduced fraud.

The Facts:

 

The EPC shares information about the increased security and overall benefits to consumers, financial institutions and businesses of the migration to EMV (Europay, MasterCard and Visa), a global standard that uses a chip to generate a unique one-time code to authenticate credit and debit card transactions that involves chip-compatible cards and point-of-sale (POS) terminals, and the associated liability shift.

Find EMV resources here> 

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