A Closer Look EMV Chip Payments Best Practices

The challenges of introducing Europay Mastercard Visa technology in the United States and best practices for deploying EMV chip payments at retail are outlined in a new white paper.

FIME, a payments consultancy, says the payment brands will start to shift liability for fraudulent transactions to merchants, starting Oct. 1, if they haven’t upgraded their systems to accept chip cards.

“Introducing EMV chip payments in the U.S. is not a simple card technology change. It is a paradigm shift of the payments ecosystem, as the chip introduces transaction, processing and system requirements that are fundamentally different from magnetic stripe,” said Xavier Giandominici, director of San Jose, Calif.-based FIME America.

The white paper educates retailers about introducing chip payments in the U.S., including:

• The fundamental changes that chip technology introduces to the U.S. payments ecosystem
• How introducing chip affects the payment acceptance infrastructure and current payment acceptance systems
• The challenges for introducing chip implementation for payment acceptance
• Opportunities for standardization to reduce implementation, integration, certification and maintenance costs
• The top chip implementation steps, best practices and considerations

The white paper can be downloaded here.