Tsys (TSS) today announced that it has successfully achieved Europay/MasterCard/Visa (EMV) payment processing certification by card brands Visa, MasterCard, American Express and Discover.
EMV is a global standard for secure and convenient payment using bank cards and the EMV payments infrastructure. The majority of regions within the global marketplace are currently in various stages of adoption of this secure payment standard, and the U.S. is working towards beginning the adoption process.
This certification signifies that all TSYS processing platforms have achieved the card brands' mandated requirement that acquirer processors be able to process EMV chip-based contact, contactless and mobile transactions. TSYS passed extensive test parameters on its payment processing platforms for each card brand.
"We are extremely pleased that we have achieved all card brand certifications and can support acquirers and their merchants as they move towards acceptance of EMV chip card payment transactions," said Eric Barth, group executive of product management for TSYS' Merchant Services segment. "TSYS is now well positioned to support our acquirers and merchants as the market evolves in the coming months and years."
EMV provides another layer of protection against the use of counterfeit, lost, or stolen payment cards and also against skimming. Issuers, merchants, and consumers as well as acquirers/processors all benefit from EMV.