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PRINCETON JUNCTION, N.J., Oct. 17, 2016 (GLOBE NEWSWIRE) — The U.S. Payments Forum today appear its abatement 2016 bazaar snapshot, accouterment statements on the cachet of the U.S. dent migration, its impacts on the U.S. market, and accessible priorities and recently-released assets for affective the alteration forward. The U.S. Payments Forum, aforetime the EMV Clearing Forum, is fabricated up of capacity from the absolute payments ecosystem and has been the antecedent for EMV accomplishing advice back the alpha of the clearing in 2012.

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State of the Market: An Update on EMV ProgressToday, about a third of U.S. merchants are enabled to acquire dent cards1, and about three abode of consumers acquire at atomic one dent agenda in their wallet2. As added acquittal accepting points, such as in-store point-of-sale terminals, ATMs and automatic ammunition dispensers become enabled for EMV, beneath opportunities for affected agenda fraud, the better antecedent of in-store agenda artifice in the U.S.3, will remain.

“The U.S. will charge to ability analytical accumulation of chip-on-chip4 transactions afore we will alpha to see big drops in affected agenda fraud,” said Randy Vanderhoof, administrator of the U.S. Payments Forum.

“From what our chip-enabled merchants are cogent us, chip-on-chip affairs are accretion at a actual solid amount and our above enabled merchants are seeing best of their affairs appear in as dent transactions.”

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“As merchant enablement continues through the blow of this year and into aing year, I apprehend to see chip-on-chip affairs become a bigger admeasurement of all-embracing transactions. As a Forum, we are alive to analyze affliction credibility with the EMV clearing and abode issues to advice move merchant enablement forward, and advice the industry ability the ambition of boundless dent agenda accepting to aish affected artifice from the arrangement added quickly,” Vanderhoof said.

Trending Topics: The “Anniversary” of EMVWith October acclaimed as a cogent ages in the U.S. clearing to dent payments, and added important dates on the border for the ATM5 and petroleum6 industries, the U.S. Payments Forum explains the role of these dates in the all-embracing clearing journey.

“With this October appearance a year back the action changes for in-store artifice accountability went into aftereffect in the U.S., there is a lot of allocution about this actuality the ‘anniversary of the U.S. dent migration,’ but we are in the bosom of a large, circuitous clearing that cannot be abbreviated by a distinct year’s activity,” added Vanderhoof. “October 2015 was a key date apery artifice accountability action changes for in-store dent agenda payments, while there are added key dates advanced for the ATM and petroleum industries. It is important for the payments industry to be acquainted of, and adapt for these dates as we move through the bigger adventure appear abounding enablement of dent technology, while additionally compassionate that this clearing will booty time—especially because the admeasurement and complication of the U.S. payments market.”

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U.S. Payments Forum Priorities: Affective Dent Accomplishing Advanced Merchant clearing – The Forum has appear several new abstracts that abode challenges adverse the bazaar that are a aftereffect of abounding merchants actuality in a accompaniment of alteration to abounding EMV acceptance, such as acclamation options to beforehand the acceleration of EMV transactions, the best practices for managing chargebacks, and changes to the minimum requirements for merchants impacted by the faster EMV blueprint that were appear by the payments brands.

ATM industry –  With the aing ATM accountability about-face advancing this month, the U.S. Payments Forum and its ATM Alive Committee are alive to accommodate accomplishing advice and added assets for baby banks, acclaim unions and absolute ATM owners for an efficient, able accomplishing of EMV dent agenda accepting at ATMs.

The Forum’s ATM Alive Committee has developed a branch series, “Implementing EMV at the ATM,” to accommodate advice on acceptable chip-compliant at the ATM, and is based on the Forum’s white paper, “Implementing EMV at the ATM: Requirements and Recommendations for the U.S. ATM Community.” The aing workshop, co-hosted by the National ATM Council, will be captivated on October 19, 2016 at 10am ET during the NAC2016 Conference & Expo in Orlando, Florida. ATM stakeholders advancing to apparatus EMV at the ATM in the U.S. are encouraged to annals at http://thenatmc.org/EMV-ATM-2016.

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Petroleum industry – To accommodate agnate advice for the petroleum industry, the Forum’s Petroleum Alive Accumulation is currently alive to accommodate accomplishing advice to advice the petroleum industry adapt for the clearing in beforehand of the 2017 accountability shifts. Two accurate areas of focus accommodate acclamation frequently asked questions about the dent clearing in the petroleum industry, and the arising and accepting of chip-enabled agile cards.

Additional merchant segments – In accession to its focus on the ATM and petroleum industries, the Forum will abide to accommodate apprenticeship and advice to added segments that acquire not completed their implementation, or are alive out added challenges accompanying to their implementations, such as the hospitality, busline and grocery industries.

New and arising acquittal technologies – As allotment of the July 2016 alteration from the EMV Clearing Forum to the U.S. Payments Forum, added priorities for the alignment in the accessible months above those anon involving EMV will accommodate discussions and added Forum assignment accumulation activities acclamation new and arising payments technologies in the U.S., such as tokenization, adaptable and contactless payments, card-not-present transactions, point-to-point encryption, and others.

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Resource RecapOver the aftermost quarter, the U.S. Payments Forum and its associates acquire provided a cardinal of assets to accommodate EMV accomplishing advice and access approaches for the industry. These assets include:

Stakeholders beyond the payments industry that are absorbed in accepting a added alive articulation in the U.S. clearing to EMV dent technology and added arising payments technologies should appointment http://www.emv-connection.com/us-payments-forum/ to apprentice added about membership, accessory annual Forum affairs and accommodating in alive committees.

Find added U.S. Payments Forum assets at www.emv-connection.com, and chase the Forum on Twitter @USPaymentsForum.

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About the U.S. Payments ForumThe U.S. Payments Forum, aforetime the EMV Clearing Forum, is a cross-industry anatomy focused on acknowledging the addition and accomplishing of new and arising technologies that assure the aegis of, and enhance opportunities for acquittal affairs aural the U.S. The Forum is the alone non-profit alignment whose associates includes the accomplished payments ecosystem, ensuring that all stakeholders acquire the befalling to coordinate, abet on, and acquire a articulation in the approaching of the U.S. payments industry.

1 Strawhecker Accumulation estimates that 29 percent of U.S. merchants are currently able to acquire chip-based transactions2 88 percent of Mastercard U.S. customer acclaim cards acquire chips, apery a 105 percent access in dent agenda acceptance back the October 1, 2015 accountability shift. As of August, there were added than 363 actor Visa dent cards in the market.3 According to Aite, affected artifice in the U.S. accounts for 37 percent of agenda fraud, which is decidedly college than added types of card-present fraud4 A dent agenda acquittal candy at a chip-enabled terminal5 The aboriginal accountability about-face was April 19, 2013 for inter-regional Maestro affairs at U.S. ATMs. Accessible accountability accouterment accommodate Mastercard’s ATM accountability about-face on October 21, 2016, and Visa and Discover’s accountability accouterment on October 1, 20176 American Express, Discover, Mastercard and Visa artifice accountability accouterment for automatic ammunition dispensers are slated for October 1, 2017

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