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Friday, July 22, 2016

Cardless ATMs address EMV, security concerns

With deadlines for the next wave of the EMV (Europay, Mastercard and Visa) chip card liability shift set to take effect for ATM network operators on Oct. 1, 2016, for Mastercard branded card ATM transactions, and Oct. 1, 2017, for Visa-branded cards; the race to adapt ATM equipment is on. However, a number of innovative financial industry players are finding ways to navigate beyond EMV's limitations.

In a mid-July 2016 agreement with Payment Alliance International, FIS NYCE Payments Network became the first national payment network to support mobile phone-to-ATM transactions, according to FIS.

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Spotlight Innovators:

North American Bancard | Harbortouch | Sage | UMS | USAePay