Since the implementation of EMV in Europe and other parts of the world, fraudulent card withdrawals have fallen in countries that have adopted chip and PIN technology and shifted to markets that still rely on magnetic stripe cards — like the U.S.
According to a recent report from the U.S. Secret Service, the cost of a skimming incident in the U.S. has risen to $50,000 on average, up from $30,000 a few years ago.
Card skimming represents 80 percent of all attacks against the ATM — the number one ATM crime globally. A Mercator Advisory Group report estimates U.S. card issuers’ total losses from credit and debit card fraud at $2.4 billion. In addition, merchants suffer billions of dollars in fraud losses every year.
To help you understand the implications of EMV on ATMs in the United State, we have put together a comprehensive EMV Resource Center.[/column] [column size=”2-5″ last=”1″ style=”0″]
Liability Shift Deadlines
Oct. 1, 2015:
- Merchant POS Terminals
excluding fuel selling terminals
Oct. 1, 2016:
- MasterCard ATM Transactions
Oct. 1, 2017:
- Visa ATM Transactions
Oct. 1, 2017:
- Automated Fuel Terminals
U.S. EMV Migration Guide: What You Need to Know
The Guide addresses EMV and why the U.S. is migrating to chip and PIN technology, what you should be doing now to prepare for the October 2016 MasterCard liability shift.
EMVCo, owned by American Express, JCB, MasterCard, UnionPay and Visa, manages, maintains and enhances the EMV Integrated Circuit Card Specifications.
News articles, case studies and white papers on the U.S. migration to EMV.
Smart Card Alliance
News and the activities of the Smart Card Alliance US EMV Migration Forum, research on EMV, contactless payments, mobile payments and NFC technology.
Case Study │ How to Make ATMs EMV-Compliant Without Breaking the Bank
Sponsored by Triton, this case study discusses how Canadian IAD Access Cash made the switch to EMV while managing costs.
White Paper │Preparing for EMV in the United States
Sponsored by Triton, this white paper discusses the benefits of EMV technology and preparation for deployment.
White Paper │ EMV Compliance Mandate Delivers Financial Hit
Sponsored by Triton, this white paper discusses EMV at a glance, compliance options and insurance for technology changes.
White Paper │ Battling Card Fraud through Chip and PIN Technology
Sponsored by Diebold, this white paper discusses card fraud globally and in the U.S., and why EMV is gaining traction in the United States.
White Paper │ EMV – The Global Standard
Sponsored by Wincor-Nixdorf, this white paper provide an overview of EMV, its specifications and certifications, and explain how Wincor Nixdorf integrates its products with EMV.
Webinar │ What U.S. Financial Institutions Need to Know About EMV
Sponsored by Diebold and ATMarketplace, this recorded webinar gives the viewer a basic background on EMV, explains the security benefits of implementing chip and PIN technology and discusses factors FIs should consider before migrating to EMV.
Webinar │ EMV Migration Lessons from the Trenches
Sponsored by NCR and ATMarketplace, this recorded webinar discusses how Canadian bank CIBC approached EMV migration, what lessons they learned, and provides advice and recommendations for U.S. banks starting the EMV migration process
Need more information about EMV? Contact one of our ATM experts!