Merchant acquirer-processor Vantiv announced earlier this week it has met all of MasterCard’s requirements for processing EMV transactions at the points of sale and ATMs.
Vantiv is the first U.S. acquirer to announce that it has done so. In a seeming shot at competitors that have more than one processing platform, the statement extols the virtues of Vantiv’s single integrated platform as enabling the speed with which the processor implemented its infrastructure upgrades to support EMV.
“The liability shift program gives all parties a stake in applying the highest level of security to each transaction,” said Mike Weitzman, group executive, U.S. Markets at MasterCard. “This milestone demonstrates Vantiv’s commitment to ensuring their clients have a seamless experience as the industry goes through this transition. We will continue to work with Vantiv in preparing the groundwork to support smarter transactions today and drive future innovations.”
“We are proud to be the first U.S. acquirer to meet MasterCard’s EMV requirements for these two key processing channels,” said Carlos Lima, chief operating officer at Vantiv. “These efforts are a testament to our strengths in quickly implementing new payment technologies and compliance standards for our clients, which helps them stay ahead of the curve during industry transitions such as the EMV migration.”
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