By Christine Kern, contributing writer
The migration to EMV chip technology to secure card-present transactions and reduce in-store counterfeit card fraud also creates an important need to secure the card-not-present (CNP) environment as well.
The EMV Migration Forum will host a one-hour webinar, “Near-Term Solutions to Address the Growing Threat of Card-Not-Present Fraud,” on Sept. 24, 2015 at 1 p.m. EDT. The program, led by Randy Vanderhoof, EMV Migration Forum; Francine Dubois, NagraID Security; Rodman Reef, Reef Carson Consulting; and Neeraj Gupta, Vantiv, was developed by the Forum’s Card-Not-Present Fraud Working Committee. The webinar will provide guidance and information on the tools necessary to complement EMV implementation strategies and create a card-not-present fraud mitigation program using multilayered approach.
“It’s important that the payments industry makes a concerted effort during the migration to chip cards to protect against the redirection of fraud from in-store to the card-not-present channel,” said Randy Vanderhoof, director of the EMV Migration Forum.
The webinar is based on the Card-Not-Present Fraud Working Committee’s recently-released white paper, “Near-Term Solutions to Address the Growing Threat of Card-Not-Present Fraud.” To read the white paper, click here, and to register for the webinar, click here.
Vanderhoof also recently addressed concerns about the U.S. EMV transition during a presentation at Retail Solutions Providers Association (RSPA) RetailNOW 2015, explaining that the complexity of the transition makes it particularly challenging: every part of the payment ecosystem has to change, including merchants, consumers, issuers, and acquirers.
The EMV Migration Forum has created several significant resources to help in the transition process. The first is www.GoChipCard.com, which includes basic educational materials about EMV technology and the transition. It includes a number of graphics and infographics, all of which are available for distribution and reposting by resellers to education their customers. Another forum resource is www.EMVConnection.com, a site sorted by information pertinent to issuers, merchants, acquirers, and consumers. The site includes webinars, workshops, white papers, links to other standards and specification bodies, a glossary of terms, links to the EMV co-standard bodies and VISA, MasterCard American Express, and Discover.