A new white paper has been released from the Smart Card Alliance Payments Council outlines possible EMV roadmap options for the United States payments industry.
The paper, “Card Payments Roadmap in the United States: How Will EMV Impact the Future Payments Infrastructure?” explains the current status of the United States and examines actions stakeholders would need to take to issue EMV cards and to accept and process EMV transactions.
Europe, Canada, Latin America, and Asia are already making the change to EMV, and many in the U.S. payments industry recognize that it’s time to take a fresh look at different approaches to EMV said Randy Vanderhoof, executive director of the Smart Card Alliance.
Factors driving the U.S. payments industry to consider a move to EMV include card-related fraud losses, the increasing annual cost of protecting existing payments systems and enhancing security features incrementally, and troubles U.S. travelers are having using their cards abroad.
White paper topics include:
- The impact of the global deployment of EMV on possible roadmap options for the U.S.
- A primer on EMV security specifications for card authentication methods, cardholder verification methods and transaction authorization approaches and implementation options for each.
- The relationship between EMV, contactless payments and Near Field Communication (NFC).
- An overview of changes required in the issuing, acquiring/processing, merchant and ATM payments infrastructure to support the different EMV roadmap options.
The white paper is available for free and can be downloaded here.