PIN a secondary security feature to EMV

On the outskirts of the United States payment industry sits the Europay MasterCard Visa (EMV) chip card standard. It's a system that has been bandied about for some time for U.S. adoption and has been in play in other countries for some time. However, by October 2015, Visa and MasterCard will require merchants and card issuing banks to deploy the solution or risk increased liability exposure.

While this seems like a monumental shift in thinking, the benefits of EMV make the technology beneficial. A recent article from ComputerWorld features an interview with Ellen Richey, Visa's chief risk officer. The discussion focused on EMV adoption and more specifically the security benefits that retailers, consumers and banks will experience when it is finally adopted.

One of the few debates about the service is whether companies should implement EMV with PIN or signature authentication. This is something that is left up to banks and retailers to decide which system they choose to use.

According to Richey, this debate is secondary to actually deploying the chip-card technology. Visa's EMV roadmap does not include a PIN requirement and will support all cardholder verification models.

"EMV technology plays a crucial role in bolstering payment card security, but it is only part of a multi layered approach to security," the article reads. "Approaches like tokenization, fraud detection networks and dynamic authentication also play key roles in improving payment card security."

With the help of a merchant credit card services provider, any company will be able to stay on top of EMV adoption.

by Ty Hardison

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