Merchant EMV Chip Acceptance Readiness Guide is. Technology Innovation Program (TIP). Technology Innovation Program (TIP), Visa is helping.Industry Initiatives - Global Payments. The card schemes have all implemented mandates to ignite the movement of EMV technology in the U. S. The company's key policy requirements and dates are: Processors must be able to support American Express EMV chip- based contact, contactless and mobile transactions. A merchant is eligible to receive relief from PCI Data Security Standard (DSS) reporting requirements if the merchants' point- of- sale (POS) acceptance locations, where 7. American Express EMV chip- based contact and contactless transactions. Effective October 2. American Express instituted a Fraud Liability Shift (FLS) policy that transferred liability for certain types of fraudulent transactions away from the party that has the most secure form of EMV technology. Discover's approach to EMV is both universal and choice- centric, meaning it will not restrict any channel, verification process or transaction type. Discover will support: All card authentication channels - including online and offline. All cardholder verification methods - including both chip & PIN or chip & Signature transactions. All commerce channels - including contact and contactless (which includes mobile)Discover has granted PCI Audit Waivers for the annual PCI DSS audits for a merchant that processes 7. Discover has instituted a fraud liability shift for all POS terminals excluding Automated Fuel Dispenser (AFD) merchants. This liability shift benefits the issuer or merchant that leverages the highest level of available payments security. Effective October 2. AFD merchants are eligible for the liability shift. For more information, visit Discover's website. Master. Card. Master. Card announce their U. S. EMV Roadmap which included all card authentication channels, all cardholder verification methods and all commerce channels. For more information, visit Master. Card's website. https: //www. Visa. Visa announced their Accelerate U. S. EMV Chip Migration Strategy. For more information, visit Visa's website. PRNewswire via COMTEX/ - -Visa Inc. The adoption of dual- interface chip technology will help prepare the U. S. Chip technology greatly reduces a criminal's ability to use stolen payment card data by introducing dynamic values for each transaction. Even if payment card data is compromised, a counterfeit card would be unusable at the point of sale without the presence of the card's unique elements. By reducing static authentication, we diminish the value of stolen cardholder data, benefiting all stakeholders. The migration to chip technology will be an important security layer and a critical step in a comprehensive strategy to use dynamic authentication across all markets and all channels. In the longer term, we expect that the use of static verification methods such as signature and PIN will be reduced or eliminated entirely as new and dynamic forms of cardholder verification are implemented. Visa will expand TIP qualification to merchants that. The Visa Payment Security Symposium will touch on a number. EMV Adoption and Its Impact on Fraud Management Worldwide. Industry Initiatives; Fraud; Initiatives of the Payments Industry. Visa's Technology Innovation Program (TIP). TIP will eliminate the requirement for eligible merchants to annually validate their compliance with the PCI Data Security Standard for any year in which at least 7. Visa transactions originate from chip- enabled terminals. To qualify, terminals must be enabled to support both contact and contactless chip acceptance, including mobile contactless payments based on NFC technology. Contact chip- only or contactless- only terminals will not qualify for the U. S. Qualifying merchants must continue to protect sensitive data in their care by ensuring their systems do not store track data, security codes or PINs, and that they continue to adhere to the PCI DSS standards as applicable. Build Processing Infrastructure for Chip Acceptance - - Visa will require U. S. Chip acceptance will require service providers to be able to carry and process additional data that is included in chip transactions, including the cryptographic message that makes each transaction unique. Visa will provide additional guidance as part of its bi- annual Business Enhancements Release for acquirer processors to certify that their systems can support EMV contact and contactless chip transactions. Data security compliance. Technology Innovation Program. This program rewards eligible merchants by eliminating the requirement to verify compliance. Note: Acquirer reports to also include qualifying Level 1 and 2 merchants for Technology Innovation Program (TIP). Visa Recommended Practices for EMV Chip Implementation. Small Merchant Security Program Requirements. Establish a Counterfeit Fraud Liability Shift - - Visa intends to institute a U. S. Fuel- selling merchants will have an additional two years, until October 1, 2. Currently, POS counterfeit fraud is largely absorbed by card issuers. With the liability shift, if a contact chip card is presented to a merchant that has not adopted, at minimum, contact chip terminals, liability for counterfeit fraud may shift to the merchant's acquirer. The liability shift encourages chip adoption since any chip- on- chip transaction (chip card read by a chip terminal) provides the dynamic authentication data that helps to better protect all parties. In February 2. 01. Visa announced the Technology Innovation Program for international merchants. The program, which was available beginning March 3. EMV chip, and offer tangible benefits to merchants who update their POS infrastructure to accept chip cards. Visa has now expanded this program to include U. S. Visa is designing its new digital wallet with . Visa will also continue to enhance intelligent network- based fraud detection tools such as Visa Advanced Authorization and cardholder transaction alerts to complement dynamic and risk- based authentication methods. As always, effective fraud prevention requires multiple layers of security. But smartcards and smartphones using EMV adds a strong layer for payment transaction security as well as online banking, access to medical records and more. This is a welcome step toward lowering fraud at the point of sale and online. EMV chip migration, supporting mobile payment infrastructure, int'l acceptance and security bit. Fz. DA. Underpinning digital currency is one of the world's most advanced processing networks - - Visa. Net - - that is capable of handling more than 2. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.
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