Fiserv Helping Financial Institutions Quickly and Efficiently Transition to EMV Standard
May 13, 2014
Fiserv offers an integrated, compliant and cost effective path to
EMV-enabled debit and credit card issuance
Comprehensive EMV solution includes strategic guidance, plastic
procurement and card personalization, transaction processing,
portfolio optimization with ROI analysis, risk management, and
consumer and financial institution education
Fiserv offers structured processes that are designed to minimize
disruption to financial institutions during transition
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, is helping its clients transition to EMV™
chip-enabled cards by offering an integrated, compliant and cost
effective path to EMV-enabled debit and credit card issuance.
“Only Fiserv has a full suite of EMV solutions and the comprehensive
strategic guidance to help financial institutions through every step of
this complex transition,” said David Keenan, general manager, Network
Solutions, Fiserv. “Fraud liability shifts are approaching quickly and
financial institutions need to begin their migration now. Fiserv
provides a clear path for card issuers to confidently migrate ahead of
the industry deadlines.”
The Fiserv solution is broad and includes strategic guidance, plastic
procurement and card personalization, transaction processing, risk
management, and consumer and financial institution education.
Fiserv has made significant investments in product development,
technology, infrastructure, staffing and education to support financial
institutions as they migrate to the EMV standard. Fiserv has taken a
leadership role in shaping the industry and is aligned with other
influential players through vendor partnerships and participation in the
Smart Card Alliance and EMV Migration Forum. With this unsurpassed
experience and expertise Fiserv can guide clients through every step of
the migration process —from analyzing their payment card portfolios to
optimizing penetration, activation and usage, to deciding on an
operating system, chip size and authentication method. Fiserv will also
provide valuable tools including ROI analysis, implementation checklists
and consumer collateral.
Plastic Procurement and Card Personalization
Fiserv offers flexible custom and standard plastic procurement and card
personalization options that allow financial institutions to quickly and
cost effectively implement an EMV program. Fiserv supports Visa,
MasterCard, Discover and American Express payment applications, Java/GP
or MULTOS operating platforms, online and offline authentication and a
variety of chip sizes.
Financial institutions also have the option of instantly issuing EMV
chip cards in the branch or providing a temporary instant debit card to
be used until the permanent chip card arrives in the mail, increasing
customer satisfaction and providing an opportunity for greater
activation rates and transaction volumes.
The Accel™ debit payments network from Fiserv has agreements
in place with both Visa and MasterCard to use common debit EMV
solutions. Fiserv processes and authenticates ATM, credit, debit and
prepaid EMV transactions and can streamline and simplify the time and
complexity of an EMV implementation. To effectively manage EMV card
costs, Fiserv can enable clients to gradually transition their card
portfolio to chip without a mass reissuance of their existing card base.
Additionally, Fiserv can drive EMV-enabled ATM machines.
As part of a comprehensive risk and fraud management solution, Fiserv
offers a unique breadth of fraud and risk management solutions that
detect, measure and defend against financial crime. These solutions
incorporate EMV data into a holistic fraud defense system focused on
mitigating portfolio risk against the complex and changing fraud
scenarios for both card present and card-not-present behaviors.
Consumer and Financial Institution Education
Educating staff and consumers about chip card technology will be
critical to a successful migration to EMV standards—how the chip works,
the value of chip technology and how to use the cards at payment
terminals. Fiserv offers staff and consumer-facing solutions designed to
create a smooth and simple transition to chip cards.
This year, Fiserv, Inc. (NASDAQ: FISV) celebrates 30 years of leadership
in financial services technology. As one of FORTUNE® magazine's
World's Most Admired Companies, Fiserv is helping clients worldwide
achieve best-in-class results by driving innovation in payments,
processing services, risk and compliance, customer and channel
management, and business insights and optimization. For more
information, visit www.fiserv.com.