Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
ATM Association Urges Networks To Delay Chip Card Migration
SIOUX FALLS, S.D. (3/11/13)--The U.S. ATM Industry Association (ATMIA) urged a consistent approach to chip card migration (EMV) for ATM deployers and operators--specifically pertaining to the resulting imminent liability shift--in an open letter to Global Payment Networks.

ATM owners and operators will become responsible April 19 for foreign transaction fraud at any of the more than 425,000 U.S. machines. However, the retail merchant liability timeline extends to 2015, ATMIA said.

The deadline is not realistic because a proven solution that can be consistently provided to the entire network has not been created or agreed upon by the payment networks and the ATM industry, the letter said. The near-term issue with the deadline is not only the ATM operators' inability to deploy a workable solution, but also that they are not permitted to decline transactions that may be fraudulent, ATMIA said.

Also, there are longer-term issues that need to be resolved, including software development in several areas, and the specific testing and certification procedures that all ATM networks and processors will require, ATMIA said.

ATMIA, established in 1997, is a non-profit global trade association with more than 3,700 members in 60 countries.

Last month, the National ATM Council sent a letter to MasterCard requesting a delay in migration to EMV (News Now Feb. 19).
RSS





print
News Now LiveWire
Watching #SuperBowlXLIX this Sunday? Look for regional #creditunion #commercials @CltMetroCU @BECU @golden1cu #Seahawks #Patriots
1 day ago
Philadelphia's American Bakery Workers FCU liquidated by @TheNCUA; @trumarkonline assumes shares
1 day ago
More branch shutterings by @Citi: 4th-largest bank to close 10% of #Chicago area branches HT @CrainsChicago http://t.co/2vAvgucLY5
1 day ago
56% struggle with subprime credit scores says @cfed survey HT @washingtonpost http://t.co/RHmMvuhNtw
1 day ago
How to use social media for crisis communications Feb. 10 webinar from @SBAgov, @AgilityRecovery http://t.co/d16t8RHr7n
1 day ago