EMV Strategy

Posted By: CosmoKramer

EMV Strategy - 11/17/14 07:31 PM

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.
Posted By: THSCPA

Re: EMV Strategy - 01/07/15 04:00 PM

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?
Posted By: Susielou

Re: EMV Strategy - 01/13/15 02:51 PM

Does anyone know for sure what the date is for ATM to be EMV ready?
Posted By: MtnHiker

Re: EMV Strategy - 01/14/15 07:16 PM

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.
Posted By: BetsyS

Re: EMV Strategy - 01/14/15 08:07 PM

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.
Posted By: Susielou

Re: EMV Strategy - 01/23/15 07:16 PM

I am still wondering if anyone knows the date that ATMs will be required to be EMV ready?
Posted By: Love Cruising

Re: EMV Strategy - 02/04/15 04:45 PM

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.
Posted By: BrianC

Re: EMV Strategy - 02/04/15 08:49 PM

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
http://www.mastercardadvisors.com/_assets/pdf/emv_us_aquirers.pdf

Here is info from VISA
http://usa.visa.com/download/merchants/visa-merchant-chip-acceptance-readiness-guide.pdf

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.