Visa has announced it’s added a migration path for debit cards to adopt the EMV chip for use in ATM transactions. Part of this plan involves Visa providing some of its proprietary EMV chip technology to the industry to aid in the process of EMV chip implementation for this segment of the card industry.
Part of the issue with debit cards migrating to the EMV standard involves U.S. regulations that require debit card issuers to enable at least two unaffiliated network routing options on the cards. Visa will address that issue by providing some of its EMV chip technology for free in connection with a generic Application Identifier (AID) that will enable issuer flexibility and merchant choice in transaction. This technology will be available for both debit and ATM transactions.
Visa also created a timeline for ATM upgrades in Asia Pacific and the U.S. for EMV chip card acceptance. Those who do not comply will assume liability for counterfeit fraud ATM transactions. This timeline is for all Visa and/or Plus branded products:
April 1, 2013 – Liability shifts in Australia and New Zealand
April 1, 2015 – U.S. third-party ATM acquirer processors and sub-processers must be able to support EMV chip data
October 1, 2015 – Visa shifts liability in Asia Pacific, excluding China, India, Japan and Thailand
October 1, 2017 – Visa shifts liability in China, India, Japan Thailand and the U.S.