American Express releases EMV roadmap for emerging payments

EMV chip-based contact, contactless and mobile payments

American Express is launching its EMV network roadmap to advance EMV chip-based contact, contactless and mobile payments for merchants, processors and issuers of American Express-branded cards in the US (view press release). Through the new programme, AmEx will collaborate with other industry participants to drive interoperability throughout the US and abroad, and support chip-based technology for chip and PIN, chip and signature, contactless and mobile transactions.

AmEx’s key policy requirements and dates for the roadmap include: all processors to support AmEx EMV chip-based contact, contactless and mobile transactions by April 2013; merchants to be eligible for relief from PCI reporting requirements if PoS acceptance locations, where 75% of their transactions occur, are enabled to process AmEx EMV chip-based contact and contactless transactions by October 2013; the institution of a Fraud Liability Shift (FLS) policy, from October 2015, that will transfer liability for certain types of fraudulent transactions away from the party that has the most secure form of EMV technology.

The payments industry is continuing to evolve rapidly, and American Express recognizes the growing demand for chip-based contact and contactless payments in the U.S.,” said Suzan Kereere, SVP and general manager of American Express Global Network Business. “We also recognise the complexities involved in migrating to EMV chip-based technology, and our first priority is to provide choice and flexibility for merchants and our card-issuing partners so they can adopt the EMV solution that best meets their needs.

AmEx intends to roll out EMV compliant cards in the US in the latter half of this year.

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