New Resource Can Help Retailers Navigate The EMV Transition
By Christine Kern, contributing writer
EMV Central resource page from RSPA aims to support the EMV transition process
As retailers face the looming deadline for the transition to EMV and the shift in liability for fraud, the RSPA, the industry association for the Point of Sale technology ecosystem, has announced the creation of EMV Central, a new resource page on the RSPA website designed to support their EMV Education and Awareness Campaign.
The resource page includes several files for download, including “EMV at a Glance,” and “EMV General Overview,” and “EMV FAQs for Developers.” These resources provide a wealth of information that can help retailers make sense of the EMV transition process.
Among the information available through the new resource is the EMV primer page. According to the “EMV at a Glance” resource, with the new legislation, effective October 1, 2015, merchants will assume liability for fraud loss if the loss was the result of non-compliance with EMV terminal requirements. Although the U.S. is not requiring chip and pin technology yet, merchants will be required to accept chip and signature at a minimum by October 1. Merchants are responsible for upgrade costs, and most EMV terminals today have NFC, EMV, and mag stripe technology as well as the ability to accept ApplePay.
The second resource, “The EMV Overview,” outlines requirements for merchants in the EMV transition, and also highlights the need to implement end-to-end encryption for tightest security, suggesting that adding Payment Card Industry Data Security Standards (PCI DSS) and end-to-end encryption are recommended as best practices. The source also provides a list of additional resources that might be helpful for making the EMV conversion.
The Third Resource, “EMV FAQs For Developers,” delineates the three levels of EMV certification, and highlights the differences between being “EMV ready,” and “EMV capable.” It also discusses semi-integrated approaches, and situations when a direct integration to EMV would be most suitable, among other common questions. This resource also highlights the fact that EMV is not a mandate for merchants, developers, or dealers. It merely shifts the liability if merchants chose not to migrate to EMV.
The new resource page will be of great value to retailers who need to implement the EMV technology .By clearly identifying the steps and options in the program, merchants can make sound decisions regarding the transition process.