REDWOOD CITY, Calif., Nov. 02, 2023 (GLOBE NEWSWIRE) — Fleet card issuers and processors are currently undergoing a migration from magnetic stripe card products to more secure EMV “chip card” specifications. In response to this industry development, the U.S. Payments Forum has published a new resource. It aims to help payment stakeholders understand what is involved in the shift to EMV fleet transactions and make EMV fleet testing more efficient and consistent across all fleet brands.
The white paper, “Migrating Fleet Cards to EMV,” was produced by the Testing and Certification and Petroleum Working Committees, with support from additional Forum members. It is available to download free of charge on the Forum’s website.
“A seamless implementation of EMV fleet isn’t going to happen overnight. There isn’t a consolidated timeline for fleet card issuers to move to EMV chip cards. It’s going to require open communication and coordination among industry stakeholders,” said Devon Rohrer, managing director of the U.S. Payments Forum. “By creating this white paper, the Forum hopes to assist the fleet ecosystem by showcasing the benefits, clearly laying out EMV fleet processing methods and providing insights from various sources involved in the migration process to minimize rework. It’s neatly packaged in one, easily accessible resource.”
The white paper includes the following information:
- EMV fleet testing processes for fleet payment brands
- Overview of EMV fleet card processing, stakeholder-specific considerations
- EMV fleet migration support – guidance for issuers, acquirers/processors, technology providers, merchants
- EMV implementation sequences
- Current status of EMV fleet migration in the U.S.
- Potential benefits and challenges of EMV fleet migration
Organizations, associations, government agencies and individuals interested in participating in the creation of future U.S. Payments Forum white papers are encouraged to visit the Secure Technology Alliance’s website to learn how to get involved with the Forum. By joining, members will also have access to broader activities within the Alliance and its affiliated organizations, including the U.S. Payments Forum. For membership levels, benefits and the application, visit: https://www.securetechalliance.org/membership-information/
About the U.S. Payments Forum
The U.S. Payments Forum is a cross-industry body that brings stakeholders together on neutral ground to enable efficient, timely and effective implementation of emerging and existing payment technologies. This is achieved through education, guidance and alternative paths to adoption. The Forum is the only non-profit organization which includes the whole payments ecosystem, ensuring that all stakeholders have the opportunity to coordinate, cooperate on and have a voice in the future of the U.S. payments industry. The organization operates within the Secure Technology Alliance, an association that encompasses all aspects of secure digital technologies.
About the Secure Technology Alliance
The Secure Technology Alliance is the digital security industry’s premier association. Through its U.S. Payments Forum, Identity and Access Forum and its collaborative working groups, the Alliance fosters open dialogue among industry stakeholders to explore and develop secure technology innovations in the payments, identity and access markets. By collaborating on education and guidance, the Alliance helps enable efficient, timely and effective implementation of large-scale, disruptive technologies. For more information, please visit https://www.securetechalliance.org.
Contact
Sherlyn Rijos-Altman
Montner Tech PR
203-226-9290
srijos@montner.com
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