ATM industry participants are beginning to organize themsevles in response to the U.S. EMV mandates issued by MasterCard. With 2013 coming fast, a new ATM industry committee has been formed called the “EMV Migration Committee”. Chaired by ATMIA CEO Mike Lee, the new organization was created in order to help clarify rules and define best practices/standards within the U.S. ATM environment. Lyle Elias offered perhaps the most important piece of advice to the group, which was to talk to organizations who undertook this journey in other countries. From an article that appears in ATM Marketplace:
Lyle Elias of the International Payments forum said the committee should set two goals: one, create a best practices document that would serve the industry as a source for reliable information; and two, solicit input from industry members who were actively involved in migrations to EMV in Canada and Europe.
Right now, this group is working through the long list of questions pertaining to an industry-wide EMV migration and in a period where financial institutions are looking skeptically at the return of any new investments, this change should present quite a challenge to the market. Arguably, the ATM market has just settled down from its Triple DES mandates of 2004/2005, which also stirred up quite a bit of confusion and disruption in the market. Not much dust on those skeletons yet, but every lesson learned should help.
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