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The Business case:
Payment integrity and security through smart card-based authentication are driving the EMV mandates and are a critical reason for migrating to a more secure acceptance infrastructure.
If a Financial Institution will adopt and implement EMV (Chip & PIN) solely for the liability shift, their business case is very unlike to be positive.
Some countries have very low fraud rates as credit cards have low usage and most transactions are done with, chip equipped debit cards since many years.
Thus depending on the country, there are many Financial Institutions, which have rather low fraud rates, this will not allow them to pay for the major investments into EMV cards.
For the customer getting a chip on his credit card won't make much difference, if he is already used to enter his PIN for payments or for obtaining cash from an ATM.
So in many cases, both the Bank and it's customer require a better or wider use of the Chip & PIN in order to make a feasible business case.
Leveraging EMV
Our goal is to offer new and more business cases for all Financial Institutions rolling out EMV card.
"One Chip One PIN for Everything"
Thus Everything from ATM, POS to e-Commerce and Remote Banking is accessible with the One same Chip and One same PIN for the Customer.
These additional applications are:
- Chip Authentication Program
- Chip Data Storage
 Reasons for developing the Chip Authentication Program
Summary of Benefits for EMV Cards
Cardholders:
Highly secure, convenient Internet payments and on-line banking
Web Merchants:
Payment guarantee
Issuers:
Fraud reduction
Delivery channel integration
Cardholder acquisition and retention
Growth in payments revenues
Liability shift:
Central to ensuring widespread adoption of Chip and PIN is the 'liability shift' where the liability for any fraudulent activity will shift in to the non-EMV compliant party - merchant or issuer - for all transactions.
For product information, an updated list of supported platforms, demo and/or quotes; contact your local VASCO representative.
VASCO - The Authentication Company
Europe, Middle East, Africa: +32 (0)2 609 9700
United States: +1 508 366 3400,
Asia/Pacific: +65 6323 0906
Australia: +61 2 8920 9666/+61 1800 468 376
Contact Details / VASCO Worldwide
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