MasterCard ATM EMV Liability Shift Deadline is now October 21st, 2016.
Many of you who are in the industry already know that there’s been a push towards increased security with payments and transactions to battle fraud. The EMV liability shift for point of sales machines occurred last year and is quickly arriving to the ATM.
With information from major processors, ATM deployers now have an extra 20 days to EMV upgrade their ATM machines. The MasterCard EMV Liability shift deadline is now October 21st, 2016. This does not mean ATM deployers can procrastinate in purchasing and installing their EMV kits. This means that there’s more time to protect your assets from fraud at the ATM.
As the day gets closer to the MasterCard EMV liability shift for ATM machines, many ATM deployers scramble to get their ATM machines to be EMV compliant. ATM manufacturers are busy producing EMV upgrade kits and there is a long virtual line of customers waiting for their EMV kits to arrive.
Upgrading the ATMs to be EMV compliant is not a single step process. It will require some allocated time to get these cash dispensing machines to meet requirements. Getting the EMV kits is only the first step. Using an EMV upgrade guide will be useful in determining if your ATM has an EMV kit available. You will need to purchase a new ATM if there is none available. The next step is to install these EMV card readers and scheduling an ATM technician for installation is difficult now since most have full schedules with EMV installations in addition to general maintenance. Furthermore, you have to make sure the ATM machine is running a compatible software version to read and process EMV transactions. Lastly, you’ll have to enable the card reader to read the EMV chip through the updated software.
Overall, making sure your ATM machine is EMV compliant is much easier said than done that’s for sure. We are here to help you and make the transition easier. Feel free to call or email us with any questions about EMV.