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EMV Certification Delays Preventing Merchants From Becoming EMV Compliant

EMV Certification Delays Preventing Merchants From Becoming Compliant

EMV, a global standard for authenticating payment card transactions, was first introduced as a payment security technology in the 1990s. Now, EMV cards have made their way to the U.S. as the new, more secure way to pay.

The official EMV liability shift was October 1, 2015. The liability shift holds the “weakest link” in the transaction chain accountable for covering the costs related to fraudulent transactions. Essentially, if a customer uses an EMV-capable payment method and the merchant cannot process it as an EMV transaction, the merchant is liable for paying back any fraudulent charges that might result.

Merchants throughout the country are discovering that simply purchasing EMV-capable terminals is not enough – the software used to process the EMV transactions must be certified as well. As the certification queue grows, merchants may find themselves waiting in line for months as processors, software vendors, and hardware vendors coordinate their certification efforts. In the meantime, these merchants are being hit by costly chargebacks.

Certification delays have been cited as the primary reason why many merchants still aren’t able to process EMV transactions. And these costly delays are out of the merchant’s control. Working with a semi-integrated solution can help merchants interested in mitigating the effects of a steady stream of chargebacks. Semi-integrated solutions are already pre-certified for EMV and can help merchants achieve EMV compliance quickly.

If you’re a merchant without an EMV-certified solution, our MiPoint semi-integrated solution can help. Call 800.583.0135 to ask about our current solutions or custom integrations.

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