Are Your Machines Ready for ATM EMV Compliance and Chip-Based Transactions?
July 28, 2015
Is your ATM fleet ready for EMV? By October 1, 2016, ATM owners must meet EMV compliance requirements or risk liability for fraudulent transactions.
Below are some questions and answers to help owners and operators of ATMs achieve ATM EMV compliance.
What is EMV?
EMV stands for Europay, MasterCard, and Visa, the companies that created the global standard for credit cards equipped with computer chips and technology. Unlike magnetic-stripe cards, every time an EMV card is used for payment, the card chip creates a unique transaction code that cannot be used again. The result is less card fraud, better protection for consumers, and a reduction in the costs related to fraud investigations and resolutions.
Who is required to comply with EMV?
All businesses that accept credit card payments, as well as all owners and operators of ATMs, must comply with EMV requirements. Merchants conducting point-of-sale transactions must comply by Oct. 1, 2015, while ATM owners and operators have until October 2016 before the liability shift occurs.
What is the “liability shift”?
Merchants and ATM owners/operators who do not comply with EMV requirements will risk bearing the liability for any fraudulent transactions that occur on their devices and machines.
Who Can Help My ATMs Become EMV-Compliant?
J&P Site Experts provides all the hardware necessary to get your machine EMV ready, also known as chip enabled. The sooner you convert, the better protection you’ll be providing to your customers. J&P carries EMV card readers, Talladega cores and other ATM parts affected by EMV, as well as anti-skimming devices to thwart customer data theft at the ATM. All NCR EMV upgrade kits come with a 90-day warranty.
Call 262.346.8451 to talk to one of J&P’s experts about your ATM fleet, and what you’ll need to gain EMV compliance.
Will EMV stop data theft at the ATM?
EMV technology won’t prevent data breaches from occurring, but it will make it much harder for criminals to benefit from the information they steal.