The Merchant Advisory Group (MAG), a cross-industry association of large merchants focusing on the payments industry, has submitted a recommendation for a US electronic payments roadmap focusing on the importance of Chip and PIN adoption.
The MAG has repeatedly discussed with payments stakeholders about the possibility to develop a payments roadmap.
The MAG’s recommendations include: • a coordinated migration to Chip and PIN transactions which should support a broad range of payment types and devices; • merchants and issuers should determine the range of payment types, communication protocols and devices they will support • merchants and issuers who migrate to Chip and PIN should benefit from full liability shift protection • those not investing in Chip and PIN, or who decide to not perform cardholder authentication at the POS, should bear the liability of any fraudulent activity that occurs as a result of their business decisions
The roadmap should acknowledge the diversity of the marketplace by developing implementation timelines for all stakeholders including issuers, acquirers, hardware manufacturers and merchants.
The MAG’s recommendation is available via the organisation’s website at merchantadvisorygroup.org.