New credit card readers are needed by courts starting October 1, 2015 (yes, two weeks ago). The COSCA/NACM Joint Technology Committee wants to remind you about this requirement. And, they have a Resource Bulletin that can help you to understand what is happening and what you need to do.
---
EMV and Credit Card Liability: What Courts Need to Know. Adopted December 5, 2014
"Nearly every country in the world uses the global standard called EMV (short for Europay, MasterCard, and Visa) for bankcard processing because of the technology’s effectiveness in protecting cardholder data and reducing counterfeit, lost and stolen bankcard fraud. The US is finally making that shift. Merchants that accept bankcard payments (including courts) must implement devices that can read EMV chip-enabled cards by October 2015, or be liable for any fraudulent purchases made at their terminals. While addressing the requirements of EMV payment processing, courts should also evaluate the possibility of simultaneously incorporating other payment technologies, including contactless EMV and Near Field Communication (NFC). “
The full paper (PDF) is available for download here.
Nice post. Yes, I have a credit card and i am also contacting Alliance Bankcard Services. for EMV.
ReplyDelete