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xx edition 2015
W. Capra eases
US shift to EMV
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zillion
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business
magazine for
international
enterprises
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Retail companies in the United States face a challenge on October 1st
2015: by this date they will have to migrate to the chip-enabled EMV
payment standard for credit and debit cards, otherwise facing a liability
shift for fraudulent transactions. In other words, failure to comply with
the standard will mean the retailers will now be accountable for any
counterfeit or lost/stolen fraud. The acronym for this format, already in
place everywhere in the world except the U.S., stands for Europay,
MasterCard and Visa, three initial sponsors of the standard. Clint Cady,
Director of Payments at W. Capra Consulting Group, was pleased to
announce his company formally introduced an EMV Practice to assist
U.S. companies in this transition to EMV card acceptance.
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fraud in other countries where it has been
technology strategies. Their consultancy
than a dozen different debit networks
implemented, and it provides for a more
duties have been employed by a large
and stern government regulations, the
secure
number of Fortune 500 companies
United States is one of the most complex
customers.
currently in their client portfolio.
payment standard. Under that context,
The outlook for the big October 2015
When faced with determining a strategy,
Mr. Cady explains that his company is
date looks promising. However, due to
companies also evaluate the financial
able to provide EMV expertise to help fill
the large demand for different services
components to accepting payments to
the EMV knowledge gap that is required
required from technology suppliers,
meet consumer demand. Companies
to quickly implement EMV by October
payment acquirers and the payment
must look at processing agreements to
1st, 2015.
brands, Mr. Cady warns there might be
ensure transactions are processed in the
bottlenecks during the process which
most cost-effective manner, that they are
The move is a significant investment.
could cause delays. This is why the W.
qualifying for the best interchange rate
There will be the cost of upgrading the
Capra EMV Practice will assist companies
possible, that they are arranging the best
current
to adequately prepare and execute with
agreements possible with their suppliers,
minimal delays.
and that they are implementing a system
protecting
environments to introduce a new
infrastructure,
updating
operational processes, and changes to
the consumer experience. However, the
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With over 5,400 issuers of cards, more
environment
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that can adapt to the rapidly changing
investment may be worthwhile in the
In addition to its EMV Practice, W. Capra
payments landscape. Customers will
long run. EMV’s implementation has
also performs a variety of services with
always want new and fun ways to pay.
combated both counterfeit and stolen
regards to helping set up payment and
“The industry has to make sure it is
prepared because at the end of the day it
is the customer’s experience that needs
to be the best.”
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W. Capra Consulting Group
221 North LaSalle Street
4
Chicago, IL 60601
USA
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Website: www.wcapra.com
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