4 Ways To Help Your Clients And Their Customers Transition Seamlessly To EMV

By Billy Cripe, CMO, Field Nation

Over the last year, EMV (Europay, MasterCard, and Visa) has achieved mass recognition within the U.S. There are over 1 billion EMV cards used throughout the globe, and the system is the standard for debit and credit payments in many European countries. Despite this, the U.S. has lagged behind in the transition to chip and pin technology — until now.

Research into the industry has indicated that by the end of 2015, around 59 percent of businesses in the U.S. will be EMV-compliant and thereby improve their protection against fraud. However, as financial institutions of all sizes and ambitions prepare for EMV migration, many hold more questions than answers, leaving IT solution providers to wonder how they can assist their clients — and the clients of their customer — prepare for the EMV transition.

1. Remind Your Customers To Re-Think Their Reliance On E-Commerce. Experts predict that fraud involving “card-not-present” transactions will increase significantly after EMV execution, due to online crimes being easier to commit than retail fraud. For those that can’t convert to point of sale (POS) systems, the best way for IT providers to protect themselves is to ensure that they're following the best practices available for conducting card-not-present transactions. This may include verifying the CVV2 security codes of cards for all transactions, using address verification in the form of AVS match, and staying alert of suspicious transactions.

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