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#1976868 - 11/17/14 07:31 PM EMV Strategy
CosmoKramer Offline
Junior Member
Joined: Jul 2005
Posts: 47
I'm curious on what other banks plans are for EMV. We're contemplating a phased roll-out over 12-18 months starting in Q1/Q2 of 2015.

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#1986864 - 01/07/15 04:00 PM Re: EMV Strategy CosmoKramer
THSCPA Offline
100 Club
Joined: Sep 2004
Posts: 112
New York
I would also be interested in what other Banks are doing for their EMV roll out.

Are you doing a mass reissue or in stages based on card expirations?
Last edited by THSCPA; 01/07/15 04:01 PM.
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#1988209 - 01/13/15 02:51 PM Re: EMV Strategy CosmoKramer
Susielou Offline
Gold Star
Joined: Aug 2005
Posts: 321
Does anyone know for sure what the date is for ATM to be EMV ready?

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#1988692 - 01/14/15 07:16 PM Re: EMV Strategy CosmoKramer
MtnHiker Offline
Joined: Dec 2014
Posts: 78
New England
We are scheduled to begin working with our processor this year to implement.

Once implemented, we are debating between waiting for cards to naturally expire over the following three years, or just reissuing all cards with January expirations in January (without regard to year), February in February, etc so that we have them all reissued in 12 months once implemented.

I'm wondering what others are doing in regards to chip+PIN vs Chip+sig. We are hearing the norm is PIN on debits and Sig on credits, to keep in line with pre-EMV conventions. I'm wondering, why not PIN on both? What I hear in answer to that question is that there is so much of a "learning curve" with using PIN on a credit card. My opinion is that it isn't much of a learning curve vs. the security of cardholder authentication.
Nothing I say should be considered legal advice or the opinion of my employer.

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#1988714 - 01/14/15 08:07 PM Re: EMV Strategy CosmoKramer
BetsyS Offline
Gold Star
Joined: Jun 2009
Posts: 468
We're a small bank with both debit and credit portfolios. I am holding off EMV implementation on my debit BINs; no earlier than Q1 2016. Very few merchants in our area can support chip, so we're looking at dual issuance (both Chip and Mag) Fraud will still be a factor, and since we block & reissue on data breaches, issuing EMV will drive up the reissuance cost as things currently stand.

On the credit side, we have an affluent card base that travels, and we have had several requests for EMV cards. Our BINs are shared with other banks, and I am waiting for our vendor to certify the implementation process, which should hopefully be soon. I'll begin with a selective issuance targeting those that travel. We will follow up with our other cards once we see more merchants supporting EMV in our area.

As to Chip vs Signature, It's my understanding Signature is Visa's preferred method. I have yet to request an implementation proposal, but reports I've received from other Visa issuers are that certifying Chip+PIN really drives up the implementation costs. I've had very little feedback from MC issuers.
Let's start at the very beginning; A very good place to start...

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#1990743 - 01/23/15 07:16 PM Re: EMV Strategy CosmoKramer
Susielou Offline
Gold Star
Joined: Aug 2005
Posts: 321
I am still wondering if anyone knows the date that ATMs will be required to be EMV ready?

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#1993354 - 02/04/15 04:45 PM Re: EMV Strategy Susielou
Love Cruising Offline
100 Club
Joined: Mar 2009
Posts: 248
I was trying to find something issued by the FDIC or CFPB on the subject, but I did not find anything. Can someone guide me as to where I can read about the subject and by when would banks need to be up and running in order to comply.

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#1993498 - 02/04/15 08:49 PM Re: EMV Strategy CosmoKramer
BrianC Offline
Power Poster
Joined: Nov 2004
Posts: 5,977
This is not a compliance related issue so you won't hear anything from the regulatory agencies. VISA/MasterCard are changing how liability is assigned for transactions depending on whether the issuer and/or the acquirer has switched to EMV. For most signature based domestic transactions, this liability shift will occur in October 2015. Pay at the pump transactions will be given until October 2017.

Here is info from MasterCard

Here is info from VISA

You should reach out to your debit card processor, ATM processor, and cash advance processor to discuss what options will work best for your institution should you choose to make the switch.
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!

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