Don't Panic, But Start Developing Your EMV Strategy

Understand how card companies’ time lines might affect operations.

March 1, 2013

Diebold Inc., a CUNA Strategic Services alliance provider, along with other large equipment vendors, wasn’t surprised by the migration to EMV chip technology. That’s because much of their global clientele had already made the shift.

“We’ve been doing this for more than a decade,” explains Jim Pettitt, Diebold’s director of ATM security, in a CUNA Operations, Sales & Service Council white paper.

“I wouldn’t panic about EMV,” Pettitt says. He recommends developing a strategy that begins by checking with your vendors and providers to see how they plan to proceed with EMV deployment. And then consider the following actions:

• Get an EMV education. It’s important to understand the basics of EMV-compliant technology and how the card companies’ time lines might affect operations.

• Initiate internal discussion about the U.S. migration to EMV and why it’s important.

• Collaborate with industry partners, such as ATM vendors and transaction processors. They can provide valuable guidance, insight, and best practices for developing an EMV migration strategy and deploying EMV-compliant technology.

• Conduct a thorough risk assessment to better understand the potential losses associated with card fraud and to identify the most at-risk terminals.

• Develop a road map and strategy. Be aware of the upgrades needed for each point-of-sale and ATM terminal. Once the transaction processing network is ready and all terminals are upgraded, adopt a card-issuing strategy. Make sure the credit union’s technology road map aligns with the EMV road map to maximize effectiveness and efficiency of your overall security program.

• Plan for member education. Members must understand how EMV migration affects them and when they can expect a change. This is a key opportunity to communicate the security benefits of EMV-compliant technology and reinforce safety and security tips for conducting transactions.