The application is pre-certified for EMV prior to the October 1, 2015 liability shift deadline, when non-EMV-enabled businesses and card issuers will assume responsibility for any fraud that occurs.
EMV, or Europay MasterCard Visa, is a globally accepted card standard that uses an embedded microchip to provide data protection when the card is inserted into a chip-card reader. The Smart Card Alliance estimates that 45% of the world’s payment cards (outside of the US) are currently chip enabled, and card use in the US is expected to exceed 76% by 2016.
Certification requires businesses to provide adequate EMV coding via an acquirer for all payment elements, including the PIN-enabled device, point of sale (POS) terminal, payment gateway and third party processor as well as for each card scheme.
Simplify is a software application that resides within a payment terminal that is integrated with a customer’s current POS or Property Management System (PMS).
Elavon is wholly owned by US Bancorp (USB) and provides end-to-end payment processing solutions and services to more than 1.3 million customers in the US, Europe, Canada, Mexico, Brazil and Puerto Rico.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now