The EMV migration in the U.S. turned the payment card market on its head during the first quarter (1Q/16), as merchants struggled to catch up and assist/educate frustrated customers.
During 1Q/16 EMVCo updated its EMV Payment Tokenization Specification – Technical Framework bulletin. The update will provide the payment community with a global, consistent framework to implement ‘Payment Account Reference’ (PAR). To be used by merchants, acquirers and payment processors, PAR can enhance security by limiting references to a cardholder’s primary account number (PAN) in the payment ecosystem.
In 2015, EMV card issuance in the U.S exceeded original industry expectations, hitting nearly 600 million units, while China showed continued success, achieving record shipments near the 850 million mark. The two countries led significant worldwide market growth, accounting for 53% of the more than 2.6 billion total EMV cards shipped in 2015, according to ABI Research.
Only 22% of retailers currently support EMV transactions, but another 53% of retailers plan to implement this capability within 12 months. According to a special report from Boston Retail Partners (BRP), the threat posed by data security breaches continues to consume retailers’ resources 38% of retailers indicate that payment/data security is a top priority.
Visa certified CPI Card Group products to extend the maximum market life of Visa EMV cards to 12 years, in compliance with Visa’s recently announced EMV chip card approval policy. The comprehensive Visa product line includes cards meeting a variety of authentication needs, such as online only cards, dynamic data authentication (DDA), and dual-interface DDA/CDA chip cards.
Gemalto’s Payment business grew by +23% in 2015. The Americas posted the largest growth, with revenue almost doubling compared to previous year on strong sales of EMV payment cards and rapid expansion of issuance services in the U.S.
MD-based Merchant Link launched EMV for Oracle Hospitality’s Restaurant iPOS Suite, including 3700, 9700, Simphony 1, and Simphony 2. Out of the lab and into pilot and production, Merchant Link has released EMV for Oracle merchants.
During 1Q/16, Electronic Payment Exchange (EPX) buddied with GuestVision Technology Solutions to function as the company’s preferred EMV payment processor. Through this partnership, EPX will provide GuestVision with EMV-ready, fully integrated payments solutions for its customers, including Fantastic Sams locations nationwide.
NCR received EMV certification from First Data for its Epsilon payments application. Deployed by small and large operators, NCR Epsilon is a reliable, fast, secure site-based payment processing application that has been providing multi-host online/offline payment processing for the retail industry since 1999.
PDQ Signature Systems, a PA-based restaurant and QSR Point of Sale provider, now supports US EMV through virtually all US processors via Datacap’s integrated payments solutions. As one of the first POS providers in the country to install EMV-enabled payments in August 2015, PDQ Signature Systems now has thousands of EMV-enabled merchants utilizing Datacap’s NETePay software.
CardFlight has a new integration with Stripe to empower developers to accept EMV chip card payments from within their own mobile applications.
CardFlight will make available mobile card readers that support EMV chip card and swiped magnetic stripe payments to Stripe merchants and developers.
Moneris Solutions was accredited in the first quarter to self-certify EMV-chip and PIN, and chip and signature terminals for five major credit card brands. With this authorization, Moneris is the only processor in North America with the ability to perform self-certification for merchants on behalf of American Express, Discover, MasterCard, Visa and Union Pay.
PA-based Datacap Systems completed US EMV level 3 certification with WorldPay and released an EMV-capable version of NETePay available for download immediately. NETePay for WorldPay’s host-based processing platform provides hundreds of point of sale providers with the ability to deliver US EMV functionality via an evolving list of PIN Pads through one simple out-of-scope interface.
NJ-based KOAMTAC teamed with e-Nabler, developer of the mobile POS software eMobilePOS. Through this partnership, merchants will be able to deploy turn-key tablet and handheld based POS solutions that comply with EMV payment requirements.
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