Next stage of EMV tech
Banking and payment services company, Discover Financial Services (DFS) launches the next stage of its global EMV deployment which involves a rolling out of a comprehensive strategy and roadmap that includes Discover Network, Diners Club International, PULSE and Discover Card (view press release).
DFS is introducing its Fraud Liability Shift which is a risk-based payments hierarchy that benefits the entity that leverages the highest level of available payments security. DFS aim to phase in chip cards to replace current cards and the move is designed to coincide with U.S. EMV migration timelines with the introduction of Fraud Liability Shift for Discover Network in the U.S., Canada and Mexico and PULSE in the U.S. which will come into effect on October 2 2015 at point-of-sale terminals and October 1 2017 at automated fuel dispensers.
PULSE, a Discover Financial Services company, is also working with other debit networks to implement greater interoperability among card brands. As well as this, U.S. direct-connect merchants and point of sale acquirer processors will be required to support PULSE EMV data, beginning on October 16 2013.
President of Payment Services at Discover, Diane Offereins said: “Our timeline to support chip-based credit and debit transactions, in addition to our Fraud Liability Shift policy, are critical milestones to helping make EMV a reality in the U.S.”
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