How Will You Verify Cardholders with EMV - Educational Webinar on EMV Data Preparation for Payment Card Issuers

Prime Factors' hosts the last of its educational webinars in the EMV Advanced series: Cardholder Verification Methods. Industry expert Dave Tushie provides insights into the changes EMV data preparation compliance imposes on the cardholder verification process, including: differences in on-line and off-line Personal Identification Number (PIN) validation, the importance of considering PIN synchronization as part of EMV migration, and how the cardholder experience will be different at the point-of-sale.

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EMV logical security defeats payment card point-of-sale counterfeit fraud

EMV logical security defeats payment card point-of-sale counterfeit fraud

The sophistication of magnetic stripe payment card counterfeiting in the US continues to increase, and counterfeit fraud volume continues to rise, increasing costs to card issuers and, consequently, cardholders.

(PRWEB) September 04, 2014

The payment card industry's shift date for point-of-sale fraud is only a year away, and many card issuers are still wrestling with the intricacies of EMV smart card compliance. Prime Factors, provider of the Bank Card Security System for managing data preparation of payment cards, seeks to demystify the complexity in its latest educational webinar, EMV Advanced: Cardholder Verification Methods. It is scheduled for Tuesday, September 9, 2014, at 11 AM Central, and registration is free.

EMV, an acronym for Europay, MasterCard, and Visa, is a global standard for the use of integrated chip, or "smart," cards for electronic payments. EMV-compliant smart cards have replaced the use of magnetic strip payment cards broadly outside the US, with dramatic reductions in point-of-sale counterfeit fraud as a result. The payment card brands named above, as well as American Express and Discover, will shift the liability for point-of-sale counterfeit fraud from card issuers to merchants in October, 2015, for those transactions where the card presented by the customer is EMV-compliant.

Many of the subtleties of EMV lie with the changes imposed for cardholder verification procedures, introducing many new controls that must be configured correctly, or risk increased authorization risk or poor customer experience at the point of sale. Dave Tushie, President of Magellan Consulting and recognized EMV payments expert, discusses the new controls for cardholder verification, with particular focus on:

  • The range of choices in cardholder verification methods
  • Differences between on-line and off-line PIN verification
  • The importance of PIN synchronization

"The sophistication of magnetic stripe payment card counterfeiting in the US continues to increase, and counterfeit fraud volume continues to rise, increasing costs to card issuers and, consequently, cardholders," says Prime Factors Vice President, Jeff Cherrington. "Migration to EMV-compliant integrated chip payment cards will reduce those costs, and we are pleased to offer these educational webinars, featuring such an authoritative figure as Dave Tushie, to help card issuers in their migration efforts."

Prior webinars in the series, including:

  • EMV Basics
  • EMV Advanced: Online Transaction Lifecycle
  • EMV Advanced: Implementation Options
  • EMV Advanced: Cryptographic Key Management

...are available for on-demand replay.

For more information about Prime Factors, please see http://www.primefactors.com. For more information about the company's Bank Card Security System and its EMV-compliant payment card data preparation and personalization, please see http://www.primefactors.com/bcss.


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How Card Issuers Can Reduce Impacts of Retail Chain Data Breaches How Card Issuers Can Reduce Impacts of Retail Chain Data Breaches

Recent data breaches at major retailers have shaken consumers and the payments industry that serves them. The attacks applied strategies that circumvented conventional applications of encryption for protection of data privacy, intercepting payment card an


Prime Factors' Bank Card Security System (BCSS) Prime Factors' Bank Card Security System (BCSS)

BCSS reduces the time, complexity, and cost of migrating to EMV-compliant card issuance