EMV is a technical specification developed by Europay, MasterCard and Visa (EMV) that outlines the interaction between Integrated Circuit cards (also known as "Chip" or "Smart" cards) and payment processing devices such as ABMs and Point-of-Sale (POS) terminals.
On August 9, 2011 and January 30, 2012, Visa and MasterCard, respectively, announced that they are accelerating the migration to EMV contact and contactless Chip card technology in the United States and the rest of the world.
Because EMV ensures inter-operability between Chip cards and ABMs, POS terminals and other payment processing devices worldwide; it is used by many payment card networks including Visa, Mastercard, Amex and JCB. This is meant to address instances of card fraud that currently exist with traditional magnetic stripe payment processing solutions.We have already helped thousands of merchants like you make this transition.
TNS has played a significant role in Canada's migration to EMV Chip and Pin technology over the last 5 years. Partnering with the largest white label ATM processor in Canada (NRT Technology Corporation), driving over 13,000 ABMs, TNS has been living and breathing EMV for the last several years. Our technical and compliance departments have worked diligently to upgrade our processing platform, obtain network/gateway/processor certifications, certify ABM devices to our processing platform, and obtain approvals from all major card brands, including Visa, MasterCard, Interac, Amex and JCB.
Any merchant that accepts Visa and MasterCard will have to support EMV Chip card technology within the timeline set forth by Visa and MasterCard. In order to accept and process Chip cards, you will need to upgrade or replace your ABM and POS devices with EMV-enabled hardware solutions. TNS suggests that you implement the following steps immediately, to ensure that you are able to comply with the EMV timelines set out by Visa and MasterCard:Speak with your acquirer/processor about their strategy to support EMV.
You will be responsible for upgrading or replacing their POS/ATM devices with EMV enabled equipment. Therefore, speak with your ABM and POS hardware suppliers about their strategy to support EMV.
Please feel free to contact us for further questions and general inquiries.