Card Brands Certify TSYS for EMV
July 11, 2013
Atlanta-area processor TSYS said this week it has achieved EMV certification by the major card brands. While the liability shift from issuers to merchants remains more than two years away, according to the EMV roadmaps established by Visa, MasterCard and the other card brands, processors and acquirers were supposed to have been able to handle EMV transactions by April 1 of this year. Well before the processor deadline, however, industry experts predicted many companies would not be ready. TSYS’s certification signifies that its processing platforms have achieved the card brands’ mandated requirement for EMV chip-based contact, contactless and mobile transactions.
“We are extremely pleased that we have achieved all card brand certifications and can support acquirers and their merchants as they move towards acceptance of EMV chip card payment transactions,” said Eric Barth, group executive of product management for TSYS’ merchant services segment. “TSYS is now well positioned to support our acquirers and merchants as the market evolves in the coming months and years.”