#  EMV Implementation: Smart Cards are Coming to the US  

 



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**June 2014 -** Otherwise known as EMV, this global standard for secure payments involves dynamic digital data in every transaction. This makes these types of transactions extremely secure and reduces the risk of fraud. EMV will benefit “Card Present’ transactions, only.

Beginning October 2015, the merchant will be financially liable for all account data compromises originating from NON EMV-compliant POS terminal.

Current terminals at use across the University (FD100/FD400) can be EMV-enabled with added peripheral. The cost of the peripheral approximates $100 per terminal. If you are not using the FD100 or FD400 terminal, please contact your Credit Card Accountant to determine if the terminal be retrofitted or if it needs to be replaced. We urge you to contact Stephanie Breen if you have any questions related to EMV implementation via payment applications.

When a consumer uses an EMV-enabled device to pay at an EMV terminal, it can be instantly identified as an authentic, approved payment instrument belonging to that consumer through a process called dynamic authentication. When used with a PIN (Personal Identification Number), the chip verifies that the consumer is indeed holding his or her own device.



 

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 See also:- [ Merchant News ](/resource-type/merchant-news)