Product: VIABLE
Company: Vantiv Inc
When Vantiv Inc. introduced VIABLE, an acronym for "Vantiv in a Box Leveraging EMV," the concept behind this new Europay/MasterCard/Visa (EMV) testing platform was to simplify the process of enabling, testing and validating EMV chip-based payment systems being deployed in the United States ahead of the card-brand-mandated EMV deadlines.
"Merchants using Vantiv's VIABLE solution have full control over their EMV network validation activities," said Patty Walters, Senior Vice President of EMV Corporate Strategy at Vantiv. "This new solution truly places merchants in control as they work toward the 2015 U.S. liability shift deadline."
As of October 2015, liability for fraud that occurs will shift to whichever party in the transaction chain is not EMV compliant; the petroleum industry has until 2017 before this shift occurs.
Based on mounting evidence from customers that such a product was warranted, Vantiv made the decision to partner with ICC Solutions Ltd., a provider of EMV testing tools, to develop and launch the new platform to facilitate EMV certifications of Vantiv merchants and independent software vendors.
"Adding EMV to a merchant's integrated payment system can be a significantly complex process," said Dave Maisey, Chief Executive Officer of ICC Solutions. "VIABLE will save merchants time, money and headaches by offering a significantly improved process in one easy tool."
The VIABLE testing platform assists all entities involved with formal payment association certifications through American Express Co., Discover Financial Services, Interac Inc., MasterCard Worldwide and Visa Inc., as well as EMVCo-type approval. According to Vantiv, the testing tools within the platform can also be used during development and internal quality assurance testing in all qualified environments associated with payments.
The company is also planning to present a series of sessions that will address EMV implementation and strategies for overcoming common hurdles. "As part of the VIABLE rollout and to further assist merchants in jump-starting their EMV enablement, Vantiv is hosting a bicoastal training road show for merchants and partners in the coming months," Walters noted.
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