An incremental, phased approach to migration
Compass Plus, a provider of retail banking software and electronic payment systems to financial institutions, is launching its EMV Empowerment Toolkit in the US (view press release). The Toolkit provides an EMV compliance solution for issuers and acquirers and works together with existing mag stripe management systems ensuring the least change required to the existing system. The technology lets the legacy mag stripe system continue to manage card issuance whilst the Toolkit enables the EMV component for areas such as online transaction processing, data preparation, profile management and clearing data handling.
“We have found that an incremental, phased approach to migration provides the best results,” said Anthony Genovese, vice president of consulting services at Compass Plus. “This process is less costly and time-intensive for the issuers and acquirers and will help them meet the deadlines set forth by the payment networks.”
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