19 April 2018

Everlink in Canadian EMV trial

06 May 2008  |  1217 views  |  0 Source: Everlink Payment Services

Everlink Payment Services, a leading provider of electronic payment services in the Canadian marketplace, has announced its participation with a major financial institution in the Kitchener-Waterloo, Ontario chip technology trial.

This trial of chip cards and terminals is designed to support the adoption of a new payment card technology that provides enhanced security and convenience to merchants and consumers.

Chip technology, widely used in more than 100 countries around the world, features an embedded computer chip that provides increased protection against counterfeit and lost and stolen card fraud. The foundation of chip technology is based on the global technical standard known as "EMV."

"This trial is an important step that will lead to a gradual but steady migration to chip technology expected to take a number of years to completely rollout in Canada," said Mark Ripplinger, president of Everlink. "There are three primary benefits that financial institutions and consumers will realize in adopting chip technology: mitigating fraud, enjoying a greater sense of confidence in the payment infrastructure and the additional functionality that this type of technology will provide. From a network perspective, financial institution brands will also be more preserved since chip cards provide the opportunity to promote a more secure transaction environment."

The cards that were distributed for the trial can also be used anywhere that credit and debit cards are accepted. The magnetic stripe will remain on the back of chip cards and chip-ready point of sale terminals and Automated Banking Machines (ABMs) will continue to recognize both chip and magnetic stripe cards.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
https://www.capgemini.comVisit https://aciworldwide.webex.com

Top topics

Most viewed Most shared
hands typing furiouslyArtificial Intelligence for fraud detectio...
12255 views 0 | 10 tweets | 6 linkedin
Speculative interest in cryptocurrencies may have peaked - BarclaysSpeculative interest in cryptocurrencies m...
10625 views comments | 16 tweets | 11 linkedin
Competing in an increasingly competitive spaceCompeting in an increasingly competitive s...
9927 views comments | 1 tweets | 2 linkedin
Revolut launches spare change savings toolRevolut launches spare change savings tool
8905 views comments | 14 tweets | 19 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job