1. EMV in the U.S.
- can the banks
meet the deadlines?

3. As the payment systems drive EMV migration forward in the
U.S., many commentators are observing that the current
deadlines will be difficult to meet, especially for some of the
big U.S. banks.
What are the challenges faced by banks, why should they
comply and what should they be doing to give themselves the
best chance of meeting the deadlines?
EMV in the U.S. - can the banks
meet the deadlines?

4. The liability shift dates are approaching fast. At a
high level, this will start in April 2013 when the major
payment brands will begin providing PCI relief for all
acquirer banks that support merchant acceptance of
chip transactions. Further down the line, in October
2015, we will see a liability shift for fraudulent
transactions from payment systems to acquirer banks
and merchants.
1. What is the challenge?

5. The current target dates set by the payment systems
are aggressive considering the size of the U.S. market;
the current state of issuer programmes to upgrade to
EMV. One of the immediate considerations they face is
whether or not to implement an EMV solution in-house
or use a hosted service based on factors such as short
and long-term costs, time-to-market, risk, resources and
IT infrastructure, for example.
2. What does this mean for banks?

6. There are numerous benefits associated with the
implementation of EMV. Primarily, the technology is
more secure and offers increased protection against
fraudulent transactions.
As a global standard, EMV also provides an
interoperable framework for worldwide payment
acceptance.
3. Why comply?

7. Issuers will benefit from additional cost savings as the
payment systems will have reduced requirements for
Payment Card Industry (PCI) audits, and will be even
more so once liability shifts occur in 2015.
As technologies such as near field communication
(NFC) require an EMV infrastructure to be in place,
migration to EMV also provides a framework for on-
going development and deployment of value added
innovative technologies.

8. The best advice for banks is to engage with the wider
industry and with EMVCo’s latest figures showing
that 5% of POS terminals in the U.S. already support
EMV, it is important not to get left behind. Speak with
consultants, integrators, service providers and vendors
that have experience and can offer lessons learned from
implementing EMV solutions in other regions such as
Canada, Europe and Asia. There is no need to reinvent
the wheel.
4. What should U.S. banks be doing?

9. While the deadline is fast approaching and much
work is still to be done, stakeholders that act now and
get good advice will be well positioned to meet the
deadlines.
Hoping that deadlines will be delayed or extended
is not recommended, and could lead to rushed and
inadequate strategies being implemented that have not
addressed the long-term objectives of the organisation.
So, can banks meet the deadline?

10. With over 20 years of expertise, Bell ID is considered the world’s leading provider of
lifecycle management solutions for tokens (e.g. EMV smart cards, mobile NFC phones)
deployed in single and multi-application programmes.
www.bellid.com
Todd Freyman
Vice President for the Americas
t.freyman@bellid.com