Operating under the MasterCard shield until October 2016 and Visa protection until October 2017, U.S. ISOs are not at risk for the financial losses resulting from fraudulent skimming attacks taking place at their ATMs. After these deadlines, owners of Non-EMV ATMs will be held responsible and liable for ALL fraudulent activity taking place at their machines.
Know your risk, limit your liability, protect your business and plan your EMV migration with the Team at Capital Vending & Distribution
The U.S. is two years into its migration to EMV chip technology. More than 80 countries are already using the more secure form of payment, and other markets’ experiences have proven that it significantly reduces counterfeit card fraud.
As an ATM owner, you have many things to consider when planning for your migration to EMV. For example, liability shifts have been established by MasterCard (October 2016) and Visa (October 2017) to encourage the adoption of EMV. Some debit networks, too, have implemented liability shift dates; ask the networks supported about their policies. Though they are not mandates, the shifts are intended to assign liability for counterfeit card fraud to the party in the transaction that is using the less secure magnetic stripe technology.
Testing & Certification
ATM owners are responsible for multiple levels of certifications. It is also important to note that the certifications required by the relevant payment networks are designed to test functionality that is important to them, and ensure that EMV data is handled correctly by the terminal and the network as per their specifications. These certifications will not cover all types of testing that an ATM owner, acquirer or issuer will need to perform. Regression, new feature, specific EMV, performance, volume and stress testing may be needed prior to certifying with a payment network. It is vital to certify the exact ATM configuration and software that will be used in production; therefore, internal testing should be completed prior to initiating formal certification with the networks. It is very likely that ATM vendors have already obtained all EMV approvals and that the network certifications will be completed by the ATM processor.