Mobile payment technology provider CreditCall Ltd. and terminal manufacturer Ingenico SA both released Europay/MasterCard/Visa (EMV) solutions in the first week of November 2012, providing a potential boost to the introduction of the standard to the U.S. market.
Card companies are promulgating retail adoption of the global EMV standard by 2015, at which time liability for card-present fraud could shift to merchants whose systems are deemed unsecure in the event of a breach. EMV replaces the prevailing U.S. mag stripe card technology with a card equipped with a small microprocessing chip that securely transmits customer information to payment terminals via radio transmission.
CreditCall reported it will begin licensing its EMV Level 1 software library and expects it will reduce the EMV terminal development cycle by 18 months. It also introduced a new cloud-based EMV-certified mobile POS solution, CardEase Mobile, for smart phones and tablet devices.
CreditCall is a payment solutions provider with offices in the United Kingdom and the United States. It provides payment gateway services for "unattended payments" (such as parking meters), creates EMV-compliant mobile POS software solutions, and licenses access to its EMV software library.
"Until now, there has been no reliable industry fast track to EMV Level 1 compliance," said Jeremy Gumbley, CreditCall Chief Technology Officer. "With our new library, major reductions in terminal development time translate into substantial reductions in approval and test costs for customers."
Gumbley also believes EMV cloud technology will soon offer U.S. terminal makers, particularly in mid-level markets, a low-cost EMV solution. "Major terminal manufacturers will have their solutions," he said. "The software library will offer the smaller, more competitive manufacturers an easier way to get to compliance."
Gumbley said that when EMV was introduced in Europe, solution providers fell into two categories: progressive companies that built solutions with an eye for the future and companies that could only see the next line of products. CreditCall was able to help both, he said.
According to Gumbley, CreditCall's decision to offer EMV technology in the cloud is a sensible alternative to EMV solutions on terminals because it is a less expensive, more forgiving solution. "Also, it allows the opportunity to put other services in the cloud along with the EMV," he said. "There are lots of exciting opportunities for using terminals to interface with the cloud."
Further proof EMV is beginning to take hold in the payments market came when terminal and payment solutions provider Ingenico reported Nov. 5, 2012, that it is partnering with one of the largest merchant services providers in the U.S., Elavon Inc., to introduce the new Telium 2 series countertop and wireless terminals in the United States.
The terminal series offers payment and value-added services on a platform that supports EMV, contactless and near field communication technologies. Elavon is also offering remote terminal management and support capabilities for Telium installations in the United States.
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