EMV Rude Awakening for ISOs?

by Mercator Advisory Group 0

A pair of vendors featured in an ISO&Agent article last week are hanging their business models on the impending switch to the EMV standard in the United States. United Kingdom based ICC Solutions Ltd. and EMV Academy of Toluca Lake, CA each hope to find a large market for their services once the migration to an infrastructure that supports chip cards in the U.S. begins in earnest.

ICC Solutions provides testing for point-of-sale devices and processing platforms to ensure operation according to network specifications. EMV Academy offers training for payment processing industry operatives and sales agents. The two companies have a strategic alliance.

From ISO&Agent:

Some of America’s ISOs and transaction processors may be in for a shock when they begin trying to accept EMV chip cards in the coming months. Unless they do their homework, they may find their equipment simply won’t accommodate EMV, Dave Maisey, CEO of ICC Solutions Ltd., tells ISO&Agent Weekly.

“If they don’t know the technical requirements, they don’t know if their platform will work,” Maisey says. Lack of memory sometimes causes problems, he notes.
The timing of ICC’s expansion seems right because U.S. payment companies now are responding to a push by Visa Inc. and MasterCard Worldwide to begin accepting EMV cards.

In fact, the card brands require testing and certification of terminals for EMV acceptance, Stewart Chalmers, executive director of the Toluca Lake, Calif.-based EMV Academy, tells ISO&Agent Weekly.

Click here to read more from ISO&Agent.

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