As U.S. issuers, merchants, acquirers and processors continue their migrations to EMV chip technology for more secure payments, many stakeholders may ask: “What is the least complex way to deploy chip for my organization?”
To help merchants and acquirers develop their strategies for implementation, payment network members of the U.S. Payments Forum (formerly the EMV Migration Forum) have updated the guide outlining their minimum requirements for chip deployment, including changes to incorporate requirements for the recently announced faster EMV solutions from American Express, Discover, MasterCard and Visa.
The EMV Minimum Requirements Matrix is intended for U.S. issuers, merchants, acquirers, processors and vendors who are planning deployments of EMV chip programs in the U.S. Its primary goal is to help stakeholders understand the minimum requirements of chip deployment for the payment networks reflected in the document. The document provides a tool for stakeholders to use as a baseline from which they can work with their partners to determine their best strategy to meet implementation requirements.
“Having the most current minimum requirements for chip implementation compiled in one place provides a starting point for merchants and acquirers in their chip deployments, whether they plan to implement all of the features or choose a simpler deployment such as the new faster EMV specifications,” said Randy Vanderhoof, director of the U.S. Payments Forum. “This resource is just one example of how the U.S. Payments Forum and its members will continue to provide guidance on the most critical aspects of the chip migration.”
The matrix focuses on the minimum card and terminal requirements for payment networks Accel, American Express, Armed Forces Financial Network (AFFN), China UnionPay, Discover, Jeanie, MasterCard, NYCE, PULSE, SHAZAM, STAR and Visa for the U.S. market. These participants have documented their respective minimum card and terminal configurations for EMV compliance. While the document addresses minimum requirements, decisions regarding deployment of chip technology will differ by stakeholder and involve a balancing of considerations, such as business needs and preferences, deployment timing, complexity and associated initial and future costs.