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EMV: Chip and Signature or Chip and PIN

John R. Revilla

EMV Credit and Debit will bring new opportunities and additional challenges for the issuing FI.

While we all understand that it will provide issuers with an opportunity to shift the financial exposure associated with fraud starting in October 2015, Issuers may need to take on a new challenge of Customer/Member education.

As an issuer you will be faced with two options when it comes to EMV cards.

One being Chip and Signature security which is the traditional credit approach in the US and something your Customers/Members will be familiar with.

The Second is Chip and PIN which many believe to be a safer approach because it requires the card holder to be present to complete a transaction.

Chip and PIN will provide familiarity for the debit card user but will they understand they can select credit and PIN?

Will the Merchants provide a credit Chip and PIN option or will all Chip and PIN transactions using a debit card be forced through the ATM/POS rails vs the Credit rails?

If all merchant terminals will support a credit Chip and PIN transaction what will be the investment in consumer education or the opportunity cost in interchange revenues?

Some things are for certain we are hoping EMV will reduce fraud exposure, cost of constant reissuance of cards, consumer frustration with card replacement and a growing distrust among consumers of merchants providing a secure environment to shop.

As CUSAG assist many issuers with the selection of new ATM/Debit/Credit processors as well as Brand and Network selection to maximize revenues, a significant component can be brand incentives based on transactions traveling the credit rails.

Protecting that volume and improving that volume may be impacted by the issuer’s selection of Chip and Signature vs. Chip and PIN and the ability of the issuer to educate the consumer.

John R. Revilla
CEO & Partner



EMV: Chip and Signature or Chip and PIN
EMV and the Changing Processing Environment
Best Practice: Supervisory Committee/Audits
Internal Controls: Board of Directors/Supervisory Committee’s/CEO’s Best Friend
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CUSAG, LLC
P. O. Box 892
Alstead, NH 03602
Cell #: 603-667-3607
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Email: jrevilla@cusag.com


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