EMV compliance is an issue that seemingly never ends, even after you upgrade. Simply updating your ATM with an EMV card reader may not keep the networks from reaching into your pocket. Are you aware that EMV ATM card readers need to be cleaned more regularly than mag-stripe card readers? EMV card readers contain landing pins that the card chip engages with, and these should be cleaned on a weekly basis. Did you also know that a dirty EMV reader can lead to EMV card transactions being converted to a FALLBACK transaction? Fallback Transactions are those transactions where an EMV chip card is used at an EMV enabled ATM and the ATM failed to read the card using the chip data. Along with a few other possible factors, a dirty reader is often the cause.
Several ATM networks have intimated that they will be issuing a PER TRANSACTION fine PER TERMINAL for any EMV ready terminal that exceeds said networks threshold for excessive fallback transactions. To avoid fines and fees, ATM Partner is dedicated to helping you make EMV migration a smooth and simple process. ATM Partner offers EMV card readers, EMV card reader cleaners, and the most current version of manufacturer’s software and AID lists to keep you compliant with network requirements. Cleaning your EMV reader regularly, along with keeping ATM software and AID list up to date will lower maintenance costs tied to EMV and save you time and money.
Meta has confirmed with the State of Illinois that effective June 30, 2017, the requirement for non-bank ATM owners to register terminals with the Illinois Department of Financial and Professional Regulation, Division of Banking has been repealed.
If you remember, Meta negotiated with the State of IL to provide quarterly reporting to the state of every Meta-deployed terminal in the State of Illinois. Meta’s reporting was in lieu of each ISO submitting terminal registrations to the state. Beginning with 2Q 2017, Meta has been advised by the State this reporting is no longer required.
Updates to Illinois H.B. 1783 do require each terminal deployed in the State of Illinois to display a sticker on the terminal containing the Department of Financial and Professional Regulation telephone number. That number is 217-785-2900.
Meta suggests ISOs with terminals deployed in the State of Illinois have a small sticker created with the Department phone number that is affixed to the terminal near the network-required Operational Problems or Suspicious Activity and network logos signage.
As every U.S. ATM operator should know by now, the deadlines for EMV compliance are quickly approaching. The date for MASTERCARD EMV compliance is October 2016, while VISA, along with any remaining networks not included in 2016 deadline; require EMV compliance by October 2017. These dates are set in stone so do not expect any delays or extensions. Doing so will only put you at further risk for monetary loss due to liability shift. Research worldwide has shown that non-EMV terminals are more susceptible to fraudulent transactions from both individuals and organized groups once liability is placed squarely on the ATM operator. The time to act is now if you want to avoid loss of funds due to fraudulent claims, potential fines or fees networks may charge for non-compliance.
In order to be compliant with EMV regulations, all ATMs will require an EMV card reader, as well as the latest version of manufacturer software. ATM Partner carries a variety of EMV kits along with the latest manufacturer software for upgrading your ATM. Depending on the age and ATM type, upgrading the reader may not be possible, and new equipment is the only option. As an ATM Partner, you have the ability to purchase an EMV ready terminal to assure compliance with new requirements. With EMV migration deadlines looming, and with criminals always looking for an easy target, ATM Partner encourages you to act now so that your money remains your money.