#chipandpin

[love-decmber-zebra]

Ready to accept credit card #retro #imprinter #chipandpin #80s （在 Hungerford） https://www.instagram.com/p/CBX6pollQMl/?igshid=vrq691illyka

[nickelbooks]

Oooh! New #CardReader! This one is run through @squareuk , and we can take #ChipandPin, #contactless or magnetic stripe payments! Remember to book us for your event! #keepingitmobile #lovetechnology #loveyourbookshop #loveyourlocalbookshop #nickelbooks #travellingbookshop #booksaremybag#indiebounduk #bamn @booksaremybag @book_tokens @marketsmatter (at Sittingbourne) https://www.instagram.com/p/B8dvFRIg1xz/?igshid=17zas5kxqmxdt

[manchestervehiclesolutions-blog]

Our excellent pos stickers arrived this morning from @squareuk #pos #cardpayments #visa #chipandpin #contactless #mobilemechanic #vehiclebroken? #manchester #cheshire (at Manchester, United Kingdom) https://www.instagram.com/p/BpHMgFNAhM4/?utm_source=ig_tumblr_share&igshid=mk1hdi2kskeh

[upcloseanpersonal]

Now I can take payments at the door for #upcloseandpersonalmcr #applepay #visa #mastercard #chipandpin #contactless #paypalready💳 (at Upcloseandpersonalmcr)

[upcloseanpersonal]

Now I can take #Applepay #visa #americanexpress #contactless #chipandpin payments on the door for #upcloseandpersonalmcr (at Upcloseandpersonalmcr)

[micdousmi]

The Coin universal card is ready for 2012

The Coin universal card is ready for 2012

If your wallet is bursting at the seams with credit, gift and loyalty plastic, the Coin universal card is supposed to lighten the load. Just add all your information to the app, sync it with Coin and get ready to buy all the things with a swipe or an…

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[thedailygeeky]

New Post has been published on http://dailygeeky.com/2015/05/28/target-plans-to-offer-apple-pay-after-chip-and-pin-card-upgrade/

Target Plans to Offer Apple Pay After Chip-and-PIN Card Upgrade

Target Plans to Offer Apple Pay After Chip-and-PIN Card Upgrade

[403labs]

Visa’s Chip Migration Plan to Impact US Merchants

On August 9, Visa released four bulletins (this release contains links to all the bulletins) describing that card brand’s plans to accelerate the migration to EMV (named after the founding organizations, Eurocard, MasterCard, and Visa) chip technology in the US market. The plan included both merchant incentives, new requirements for acquirers and processors, and a liability shift to support the migration to chip technology. The result is that every merchant and processor in the US market will face some important decisions that impact their liability for fraud losses and PCI validation.

Specifically, Visa is offering to waive PCI compliance validation for merchants implementing POS terminals and systems that enable both contactless and contact EMV chip transactions. That is the carrot. The stick is that if merchants don’t make the necessary POS and back-office investments, the liability for fraudulent transactions will shift entirely to them.

Visa wants to accelerate the acceptance of EMV chip cards in the US market. To do that, they need US merchants to upgrade their POS devices and back-office systems to process the chip card transactions. As an incentive, Visa is extending its Technology Innovation Program (TIP) to the US market, effective October 2012.

To qualify, merchant POS terminals have to be able to support both EMV contact and contactless chips, and 75% of the merchant’s transactions have to be on those dual-interface terminals. The contact chips will be on payment cards; the contactless refers to mobile devices using Near Field Communications (NFC).

Merchants qualify for TIP by meeting four criteria:

Validating PCI compliance within the last 12 months

Not storing any sensitive authentication data (e.g., security codes, PIN, mag stripe data)

Meeting the 75% of transactions threshold on the dual-interface devices

Not having a cardholder data breach

Everybody should understand Visa is by no means giving a free pass on PCI compliance. TIP requires each merchant to be PCI compliant. All it does is say that if you meet the requirements, you do not need to “re-validate” your PCI compliance after next October. In practice, that means you may not need to file a Self-Assessment Questionnaire (SAQ) or have a QSA assessment.

Visa combined the incentive with a liability shift. Effective October 2015:

the party that is the cause of a chip-on-chip transaction not occurring (i.e., either the issuer or the merchant’s acquirer) will be financially liable for any resulting card-present counterfeit fraud losses.

That means a merchant or acquirer that does not make the investment in EMV dual-interface terminals and infrastructure (or an issuer that does not move to chip cards) will be on the hook financially for all card-present fraud.

This is worth repeating: merchants, acquirers, and issuers who are not capable of processing EMV chip transactions in four years will eat all POS fraud losses. My interpretation of the liability shift: every cardholder in the US will have an EMV chip card in about four years.

Two questions we all have are:

What will the other card brands do? If they do not follow Visa’s lead and offer the same incentives, then Visa’s action may not be enough to move the market.

Will the TIP incentives justify small and medium-sized merchants investing in EMV technology? Their cost of revalidating PCI compliance (which may be only a SAQ) may be small compared to the investment in net POS terminals and technology.

Merchants and their processors should monitor these developments as they make plans to upgrade their POS terminals and back office systems for the inevitable introduction of EMV chip cards in the US market.