Press Room
Media Contact
Adrian Loth
Montner Tech PR
Telephone: 1.203.226.9290
Email: [email protected]
Index
Recent Press Releases
Press Resources: U.S. and Chip Cards
Chip Card Facts-at-a-Glance
Additional Resources
Spokesperson Bio: Director, Randy Vanderhoof
Coverage Highlights
Graphics & Videos
Recent Press Releases
- US Payments Forum July Meeting to Explore New Payments Technology, Evolving Industry Standards and Payments in Transit
- U.S. Payments Forum Publishes Resource Providing Solution Options, Stakeholder Considerations for Card-on-File Tokenization
- US Payments Forum Market Snapshot: Industry Works to Secure E-commerce Transactions; Touchless is Here to Stay; and EMV at the Pump Moves Forward
- US Payments Forum Recognizes Members for Outstanding Contributions in 2020
- US Payments Forum Member Meeting to Cover New Payment Technology, Emerging Fraud Trends and the Future of Payments
- U.S. Payments Forum Announces 2021 Steering Committee
- Secure Technology Alliance and U.S. Payments Forum Name Jason Bohrer as New Director
- U.S. Payments Forum Market Snapshot: Industry Experiences Rapid Shift to New Payment Technologies, Fraudsters Move Online and EMV at the Pump Makes Progress
- U.S. Payments Forum Releases New Resources Covering In-store Contactless Payment Limits, Card-Not-Present Fraud Mitigation and Communication Best Practices for Transit Open Payment Acceptance
- US Payments Forum Virtual November Member Meeting to Cover Digital Identity, Evolving Payment Technology Trends and Impact of COVID-19 on Payments
- US Payments Forum Virtual Education Series to Provide Primer on Dual-Interface Card Issuance
- US Payments Forum Market Snapshot: Industry Shifts Focus to Touchless Experiences, Securing E-Commerce and Upgrades for EMV at the Pump
- US Payments Forum Virtual Member Meeting to Cover Changes in the Payments Market Related to COVID-19
- US Payments Forum Publishes Best Practices for EMV Chip Fallback Transactions at the Fuel Pump
- U.S. Payments Forum Educates on Consumer Interactions at the Point of Sale to Inform Practical Safety Guidance During Coronavirus Outbreak
More U.S. Payments Forum Recent Press Releases …
Press Resources: U.S. and Chip Cards
For press use: Please feel free to use this language to accurately report on the U.S. migration to chip cards. Attribution to the U.S. Payments Forum is optional.
- How can I describe the U.S. move to chip cards?
The U.S. is moving to new chip cards based on a global standard called EMV, already in use in billions of payment cards worldwide, to enhance in-person payment security for consumers, merchants and issuers.
- How can I describe the security features of chip cards?
EMV chip cards contain secure computer chips that validate the authenticity of the card and include a one-time use security code in every transaction, making chip payment data virtually impossible to use for counterfeit card fraud.
- How can I describe the drivers for U.S. chip migration?
The U.S. move to EMV chip payments is being driven by the payments industry’s desire to reduce card fraud in a face-to-face card-present environment, provide global interoperability, and enable safer and smarter transactions across contact and contactless channels.
- How can I describe the fraud liability shifts?
“Fraud liability shifts” for card issuers and merchants are meant to help synchronize the timelines to move all industry stakeholders to implement chip technology. As of October 2015, the payment brands shifted the responsibility for certain types of fraud fraud resulting from a payment transaction to the party using the least secure technology. There are different liability shifts for ATMs (October 2016 and October 2017) and automated fuel dispensers (October 2017).
- How can I describe when consumers will start using chip technology?
Many consumers will receive chip cards from their banks this year and will increasingly be able to use them to pay at merchant locations throughout the U.S.
- Is there any terminology I should avoid in reporting on chip cards?
It is not accurate to refer to the U.S. use of chip payment technology as “chip and PIN.” Not all chip cards issued in the U.S. will require the use of a PIN.
Chip Card Facts-at-a-Glance
The basics…
- EMV is the name of the global standard for chip payment cards and is based on widely used and highly secure smart card technology.
- EMV specifications are maintained by EMVCo.
- Chip payment cards are standard-sized bank cards that have a microprocessor, or a mini computer, embedded in the card that meet requirements of the EMV standard.
- Today, the U.S. is in the midst of migrating to chip payments.
- The U.S. market is larger than all of Europe’s payments markets combined, making it the largest individual market to convert to chip cards.
- As of October 2015, the payment brands shifted the responsibility for certain types of fraud resulting from a payment transaction to the party using the least secure technology.
- If neither or both parties are EMV compliant, the fraud liability remains with the issuer.
The numbers…
- According to EMVCo:
- 4.8 billion chip payment cards are in use worldwide as of December 2015
- Between J January and December 2015, 97.29% of card-present transactions in Europe (Zone 1) were chip transactions
- In Canada, Latin America and the Caribbean, 87.9% of in-store transactions were chip transactions between January and December 2015
- Today, more than half of the cards in the U.S. are chip cards, and 1.7 million U.S. POS terminals are enabled to accept them.
Security…
- The embedded microprocessor (computer) in a chip card provides strong transaction security features and other application capabilities not possible with traditional magnetic stripe cards.
- Chip payment technology prevents counterfeit card fraud in two ways:
- The first way is the storage of the cardholder data and security keys inside the chip. Even if chip data were to be copied, it could not be used to create another chip card using the same data.
- The second way is by a one-time, unique code, called a cryptogram, generated by the chip during each payment transaction. The cryptogram proves that the card is authentic and that the transaction data was unique to that card. Therefore, any use of the same unique card data would be detected by the issuer and the transaction denied.
- EMV chip transaction data excludes other data needed for magnetic stripe transactions, so it cannot be used to make a fraudulent transaction in an EMV or magnetic stripe environment.
Additional Resources
- GoChipCard.com
- EMV 101 Webinar
- EMV Brief: Large Scale Payment Data Breaches Highlight Need for U.S. Card Issuers and Retailers to Move More Quickly to Smart Chip Payment Technology
- EMV and U.S. Chip Migration FAQ
- Standardization of Terms
- Near-Term Solutions to Address the Growing Threat of Card-Not-Present Fraud
Spokesperson Bio: Director, Randy Vanderhoof
Since 2002, Randy has been serving as the full time Executive Director of the Smart Card Alliance, a not-for-profit, multi-industry association working to stimulate the understanding, adoption, use and widespread application of smart card technology.
Randy also serves as the director of the U.S. Payments Forum (formerly the EMV Migration Forum), the a cross-industry body focused on supporting the introduction and implementation of EMV chip and other new and emerging technologies that protect the security of, and enhance opportunities for payment transactions within the United States.
Coverage Highlights
The U.S. Payments Forum has an active communications program to promote industry messages in business, vertical market, and technology publications. Coverage results from both Forum press releases and interviews with publications writing articles about the Forum. Selected recent coverage can be seen online, http://www.emv-connection.com/us-payments-forum/forum-in-the-news/.
Graphics & Videos
| Resource Description | AVAILABLE FILES | |
|---|---|---|
| Broadcast Quality B-roll |
Online Preview | Half resolution MP4 (960×540) Full resolution MP4 (1920×1080) ProRes 422 LT (1920×1080) ProRes 422 (1920×1080) |
| B-roll Suggested Script | EMV Migration Forum B-roll Script | |
| Chip Card Video |
Online Preview | Download MOV (1920×1080) |
| Chip Card Photo – 1 |
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Online: 150×150 @ 72 DPI Print: 8″x4.5″ @ 300 DPI |
| Chip Card Photo – 2 |
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Online: 150×150 @ 72 DPI Print: 8″x5.4″ @ 300 DPI |
| Chip Card Photo – 3 |
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Online: 150×150 @ 72 DPI Print: 8″x6″ @ 300 DPI |
| Chip Card Photo – 4 |
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Online: 150×150 @ 72 DPI Print: 4″x2.5″ @ 300 DPI |
| Chip Card Photo – 5 |
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Online: 150×150 @ 72 DPI Print: 4″x2″ @ 300 DPI |
| GoChipCard.com Consumer Infographic |  |
Download Printable PDF |
| GoChipCard.com Merchant Infographic |  |
Download Printable PDF |
| GoChipCard.com Issuer Infographic |  |
Download Printable PDF |
| U.S. Payments Forum Logo |
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Online: 320×112 @ 72 DPI Print: 300 DPI EPS |
| Randy Vanderhoof |  |
Online: 150×225 @ 72 DPI Print: 4″x6″ @ 300 DPI |
| Randy Vanderhoof |  |
Online: 150×225 @ 72 DPI Print: 4″x7″ @ 300 DPI |
| Randy Vanderhoof |  |
Online: 150×225 @ 72 DPI Print: 6″x10″ @ 300 DPI |
| How a Chip Transaction Works (infographic) |  |
Download Printable PDF |
