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EMV: What Every ATM Operator Needs to Know
You have probably received a new credit or debit card with a shiny new chip by now. These chips are more secure than the traditional magnetic stripe and are designed to deter skimming, the primary threat to any ATM.
In order for ATMs to process EMV cards, new technology is needed. There is no one size fits all EMV solution. Most newer ATMs may just require a software update or relatively inexpensive card reader upgrade. Older ATMs will require replacement of the ATM terminal.
It is true that this is not a new government or network mandate, however it’s a network liability shift. Meaning…
Effective October 1st, 2016 the owner of the ATM terminal assumes all liability for their ATM withdrawals. So if a customer claims their ATM card was lost, stolen or fraudulently replicated, the ATM owner, not the network, is responsible for the loss.
For ATM owners and operators, the liability from even a small amount of fraud can significantly threat your ATM profits and business

What is EMV?
EMV stands for Europay, MasterCard and Visa. EMV was developed in the late 90’s as a joint global effort to improve security for cardholders and minimize fraud. Europe, Canada and over 80 countries worldwide have already implemented EMV. The United States is one of the last to finally implement this technology. In the fall of 2015 the first large scale liability shift took place among point of sale terminals, with more planned infrastructure changes throughout 2016 and 2017.
How is EMV More Secure than Magnetic Stripe Technology?
EMV cards contain cardholder information on a chip embedded on the front of the card. Cardholder data is securely tokenized, creating dynamic transaction codes for each transaction. This constantly changing token prevents hackers from copying and duplicating cardholder information used for skimming. According to Columbus Data Services, an EMV card has never been fraudulently counterfeited to date. In addition, the countries who have implemented EMV technology have seen an 80% reduction in fraudulent transactions.
The burden falls heaviest on small merchants that own and operate their own ATMs.
How will EMV Affect my business?
You must upgrade to EMV compliant ATM equipment to process EMV transactions
Learning curve for cardholders. With EMV cards, you need to insert your card and wait till the ATM prompts you to remove it at the end of the transaction. Your ATM signage and onscreen instructions should guide holders on using EMV cards to ensure a smooth experience.
Your ATM can continue to process non EMV ATM cards however you will be held financially liable for any counterfeit card transactions beginning October 1, 2016 (MasterCard) and October 1, 2017 (Visa)
Should you choose not to migrate to EMV, you will put your ATM at significant financial risk as fraud always migrates to the easiest target.
What are the Benefits of EMV?
Increase cardholder security and faith in card based networks
Enables greater likelihood of cardholder transaction approval and completion (your customers will have EMV cards and their banks may not allow them to “fall back” to the magnetic stripe)
Reduce skimming vulnerability
Protect your business from financial non-compliance liability
Diminish fraud losses that can compromise business viability
What are the Next Steps?
Contact Best Products today for a free EMV consultation. If you are a current customer we have your ATM terminal information. If you are not a current customer we will need the make/ model of your existing ATMs to see how EMV impacts your ATM portfolio and how we can help. We can not stress how important EMV is, and how drastic this liability shift will impact your ATMs profitability. Do not delay! EMV kits are already scarce due to the hundreds of thousands of ATMs in the US – this effects every single ATM! The closer we get to the deadline, the greater the demand for upgrades and or new ATMs. We also stress that unlike those who are familiar with TDES in the past- the networks show no signs of postponing the EMV deadline. The POS deadline has already passed and has left those who delayed including many merchants, financial institutions and payment processors scrambling for compliance.