For more details about everything you need to know about EMV, contact Postec’s experts.

Grocery: Dan Henkel,  dhenkel@postec.com

Hospitality: David Marovic,  dmarovic@postec.com

 

VISA chip cardmastercard emv chip cardAmerican Express EMV Chip Card

 

Visa put out a press release on June 16th giving some good news to merchants who are not yet EMV chip-ready.  Relief for excessive chargebacks, streamlining the EMV certification process and financial and technical support to accelerate EMV chip terminal deployment.

Shortly afterwards, MasterCard & American Express announced similar changes of their own.

The National Grocers Association provided a great summary of these points below:

1) Merchant Chargeback Relief

In recognition that some card issuers are issuing excessive chargebacks to merchants, effective July 22, 2016 Visa will block all chargebacks to merchants under $25. Additionally, effective October 2016 – April 2018 issuers will be limited to charging back 10 fraudulent transactions per account.

2) Acquirers Can Self-Certify Merchants

This will allow a merchant’s acquirer to self-certify a merchant if they know the merchant’s systems are in compliance. This will effectively eliminate a step in the certification process that added wait times for merchants.

3) Additional Funding Resources to Speed Up Certifications

Visa will provide additional funding to help acquirers add resources where necessary and funding to software companies to be able to pre-certify their technology for EMV terminals.

 

 

VISA’s Press Release

Email from the NGA

National Grocers Association Contact info:

Greg Ferrara, SVP Government Relations & Public Affairs, gferrara@nationalgrocers.org

Peter Larkin, President and CEO,  plarkin@nationalgrocers.org

 

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