October 1st wasn't the finish line….rather the starting line of EMV as the new normal.

Take these steps to become EMV® enabled now.

 
 

EMV has arrived.® Are you prepared?

As of Oct. 1, 2015, if your customers pay with an EMV chip card and you don't have an EMV-enabled terminal, you may be liable for any transactions found to be fraudulent.

 
 

Why EMV?

It's simple: EMV can dramatically help reduce counterfeit and lost/stolen payment card fraud. Although the technology is relatively new in the United States, the benefits of EMV are too significant to overlook for long.

 
 

25% Transactions

While the U.S. only accounts for 25% of the world's payment card transactions, more than half of all fraudulent card transactions happen here.

$10B Losses

Losses due to card fraud in this country topped $10 Billion in 2015.

2X Fraud

Credit card fraud rates have doubled in recent years, representing 10 cents out of every dollar transacted.

-27% Fraud

Fraud in the United Kingdom dropped 27% between 2007 and 2012, the years when EMV chip cards became widely accepted in that country.

 
 

EMV in the USA

617 M New EMV Cards

Industry watchers estimate that there will eventually be 617 million EMV-enabled chip cards in circulation in the U.S by the end of 2016.

98 %  

By the end of 2017, 98% of all cards issued will be chip enabled.
 
 
 

As merchants adopt EMV technology and EMV chip cards achieve wider circulation, using chip cards will become second-nature to consumers. EMV not only helps you protect your business from potential liability, but also shows your customers that you care about the security of their data.

EMV represents a more secure future for card payments. It promises to reduce card fraud and counterfeiting, potentially transforming the payment processing landscape.

 
 

What makes EMV more secure?

Unlike magnetic stripe cards, EMV chip cards send data that changes with each transaction. EMV chip cards transmit a variable algorithm with each transaction, making the data more secure than the static data found on magnetic stripe cards.

 
 
  • The consumer inserts the card into an EMV reader or taps it on a contactless terminal to make a transaction, with no hand-off of a card to the merchant and no swipe.
  • EMV technology makes it virtually impossible for thieves to duplicate cards, thereby reducing card fraud at the point-of-sale.
  • Only EMV-capable terminals can read and decode the chip card.
 
 

The impact of EMV on your business

The U.S. was the last member of the top 20 world economies to commit to a liability shift associated with chip payments. Named for the three companies that created it – Europay, MasterCard, and Visa – EMV is a tiny chip embedded in payment cards that is virtually impossible to counterfeit and offers stronger security than magnetic stripe cards. As adoption grows, consumers will increasingly use EMV chip cards in their payment card transactions.

U.S. Payments since the 10/1 liability shift

EMV related chargebacks are real and the numbers have risen dramatically. Counterfeit fraud makes up the majority of fraud overall.

EMV certification testing is complex and time consuming. First Data helps make the process as efficient as possible.

The Credit/Debit buttons of the magstripe world are evolving into PIN Bypass, which allows for consumer choice of PIN entry.

Tipping works with EMV. Whether the tip amount is known up front or adjusted post-transaction via a tip line on the receipt.

 
 

Why EMV is important now

As criminals recognize EMV implementations are underway, they look towards merchants that haven't adopted EMV technology and card-not-present merchants.
Businesses still using magnetic stripe only terminals, are on the hook for fraud costs if someone uses a counterfeit or lost or stolen EMV payment card.
 

EMV arrived on October 1, 2015. But it’s not too late to adopt EMV technology.

Start by building your EMV Action Plan Today

Check off the tasks you've completed!
Get More Information
Visit www.firstdata.com/emv for more information about EMV.

Past Deadline

Talk to your First Data Relationship Manager
You can review certified EMV-capable solutions, discuss multi-layered security options and learn more about how to help avoid chargebacks. If you develop your own solution, your First Data relationship manager can help you secure space on the EMV certification calendar.

Past Deadline

Perform a Cost Analysis
Perform a cost analysis of what it will cost to update your location(s) to EMV capable solutions.

Past Deadline

Prepare your Location(s)
Talk to your store operators and employees about EMV and what to expect.

Past Deadline

Develop a Marketing Plan
Let your customers know that you care about protecting their data by promoting enhanced security at your location(s).

Past Deadline

Develop a Training Plan
Ensure that every employee knows how the new Security and EMV capable solutions operate. In turn, employees will be better equipped to help customers use their chip cards correctly.

Past Deadline

Implement New Solutions
Execute your plans for implementation, training and marketing. Use of EMV technology helps to minimize chargebacks and reduce potentially fraudulent transactions.

Past Deadline

Create an Ongoing Plan
Work with your First Data Relationship Manager to continue to learn about EMV and enhanced security measures for your business.

Past Deadline

 

Contact your First Data relationship manager or visit Firstdata.com/EMV for more information.