Tuesday, September 11, 2012
"The liability shift will apply to all MasterCard-branded products across all transactions initiated at U.S. ATMs," the company said.
The imposition of EMV standards on ATMs is an effort to stop fraud in channels not yet protected with the security protocol, Mike Weitzman, MasterCard Group Executive for U.S. Markets, said. "We're providing our issuers, acquirers and ISOs flexibility and sufficient time to manage their ATM technology decisions," he said.
Julie Conroy McNelley, Research Director with Aite Group LLC, said, "An upgrade of existing U.S. ATM systems is a necessary next step in the evolution of financial institutions' tactics to keep pace with fraudsters."
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