The major card brands have certified payment processor Total System Services Inc. for EMV chip-card processing.
Visa, MasterCard, American Express and Discover have approved Columbus, Ga.-based TSYS after meeting mandated requirements for acquirer processors to process EMV chip-based contact, contactless and mobile transactions, TSYS stated in a July 9 press release.
The majority of the global marketplace is in various stages of EMV adoption, which improves upon the security provided by magnetic-stripe cards. EMV provides another layer of protection against the use of counterfeit, lost, or stolen payment cards and also against skimming, TSYS says.
The U.S. market continues to move toward EMV adoption, with most merchants facing a fraud liability shift if they are not prepared to accept EMV chip cards by October 2015.
“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,” Eric Barth, group executive of product management for TSYS’ Merchant Services segment, says in the release.