Business officers who want to stay current with the changing payments market and payments security standards need a plan for how to get merchants and business centers up to date with the latest payment methods and security standards. The payments industry in the United States is migrating to EMV chip technology, replacing the magnetic-stripe bank cards and point-of-sale (POS) terminals that have been in use for decades. EMV-compliant chip cards offer better security for card-present transactions by making every transaction unique. In addition, chip cards are more difficult to counterfeit or copy. Hear an expert discuss alternatives and how to avoid increased financial risk and exposure while preparing to meet the needs of your students now and in the future.
|On My Desk Right Now:
Photos, widgets that I play with
when I talk on the phone, business cards that I have yet to file.
|What I do when I'm not at work:
Enjoy nature, especially by any beach.
|My Media Mix:
Homeland and Modern Family
Don't sweat the small stuff.
Randy Vanderhoof is the Director of the EMV Migration Forum, a non-profit independent cross-industry organization formed in 2012 with over 170 participating organizations established to support the alignment of the EMV implementation steps required for global payment networks, regional payment networks, issuers, processors, merchants, and consumers to successfully move from magnetic stripe technology to secure EMV contact and contactless technology in the United States.
In addition, Randy continues in his primary role as the Executive Director of the Smart Card Alliance. The Smart Card Alliance is a not-for-profit, multi-industry association of over 220 member firms working to accelerate the widespread acceptance of smart card technology in North America and Latin America.