EMV Chip&Pin
| This article is part of the Payment Processing Software Library |
|
| Get it... | |
| Install it... | |
| Connect to it... | |
| Set it up... | |
| Learn to use it... | |
|
→ Manual & User Guide | |
| Fix it... | |
|
→ Errors & Troubleshooting | |
| Get Help... | |
| More Info ... | |
| See also... | |
CreditLine Payment Processing Software Chip & Pin. This site can also be reached at http://docs.911software.com
→ Looking for better rates? Get a Free Credit Card Processing Cost Comparison!
Contents
EMV Cost: Compliance vs Non-Compliance
There is much misinformation floating around this topic. We would like to set the facts straight. Cost of EMV compliance: $250-$550/terminal Cost of EMV non-compliance: an unknown percentage of your current chargebacks. Example: the merchant has $100/year in chargebacks (clients refusing to pay for the charges). 30% of those chargebacks are due to counterfeit cards. Merchant is now responsible for $30/year in fraudulent charges. EMV compliance does NOT protect your business, if someone is stealing legitimate card information from your location and using it somewhere else. Many of the common fraud situations are not within the scope of EMV. If you do not go through the PCI compliance procedures and someone has been copying magstripes at your location, then using those cards online, you are still liable. In addition, it pays to remember, that EMV liability shift deals with counterfeit cards. People usually go to the trouble of creating fake cards so that they can make significant purchases. An night club, where a client may run up thousands of dollars is affected by the liability shift to a much greater degree than a grocery store.
EMV Deadline
EMV Deadling is October 2015.
911 Software intends to deliver EMV compatible interfaces by the deadline. We are engaging all major processors at the moment to obtain the specifications and schedule integration and testing logistics.
What is EMV Chip&Pin Contact and Contactless Transactions?
EMV (Europay,MasterCard, and VISA) Specifications require the ability to process cards enabled with an EMV chip, using special readers capable of reading the card ship and accepting pin entry (similar to debit cards). This requires special EMV compliant readers, EMV compliant cards, EMV compliant processors and EMV compliant payment processing software.
Chip & Pin or Chip & Signature?
US is adopting Chip & Signature model which will have no impact on the normal operating procedure. Basically, the card has the chip and the customer supplies the signature, they way it always worked.
Processor EMV Compliance
For the processors that are ready, we will be offering EMV solutions before the October deadline. The limiting factor is the processor readiness, we are going as fast as they allow us. At the moment, it is not clear how all the parties involved will be able to deliver the EMV solutions by the deadline. We are working with all major processors to follow their roadmaps to EMV compliance. Given that the liability shifts not only to the merchant but also to the acquirers, we are on the lookout for temporary waivers, as we have seen with MC Mandate lately.
Compatible devices
The chosen pin pad is IPP 320 and IPP350 from Ingenico. We are also looking at iWL220 and 250 series The integration and certification is rather difficult and so we will be providing the transparent drivers to our customers. All additional pin pad models would need to go through approval and integration by both ourselves and the processors.
API and Operational Difference
There is no difference in the API or Operational Procedure. Chip & Signature was designed to have a minimal impact
